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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

3/22/17

FedEx (FDX) is flying higher. FedEx actually missed earnings estimates, but the stock is up 2% not far from a 52 week high thanks to strong guidance. Revenues rose 18.1% year over year to $15 billion. Stifel upgraded the stock with a $194 price target saying the stock should move higher thanks to strong Express margins. The Cowen analyst upgraded the stock with a $240 target. Firm believes this is the last difficult y/y comparison, and current quarter results should show significant y/y and sequential improvement. Management forecasts a significant sequential quarter improvement in the May quarter vs the February quarter.

NIKE's (NKE) wings have been clipped. The company actually beat earnings estimates by 15 cents as revenue rose 5.0% year over year to $8.43 billion. But the stock is lower by 6% back to a 2 month low. Wedbush analyst downgraded the stock noting Nike reported mixed results with headwinds in North America with pressuring on sales and margins. Stifel cut their target to $66 from $68.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.