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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

5/11/17

Valeant Pharma (VRX) moving higher again. After bad 2016 and a tough start to 2017, Valeant is moving in the right direction again following better than expected earnings last week and a big short position. Valeant is up 12% on an upgrade from RBC Capital Markets raising their price target to $19 a share.

Oh Snap! Internet chat site, Snap (SNAP) is down 20% following disappointing earnings. The company  missed estimates by 26 cents as revenue missed as well. On a GAAP basis, the company lost $2.31 per share, $0.26 worse than estimates. Revenue rose 285.6% year over year to $149.6 million missing estimates of $158.32 million. Despite less-than-stellar growth reports, the 26-year-old Spiegel was defiant and laughed off concerns that Facebook was encroaching on Snapchat's turf, a move CNBC's Jim Cramer called "so arrogant."

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