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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

5/18/17

Wal-Mart (WMT) leading the Dow higher. The largest box store retailer is up 3% to a new 52 week high following earnings. The company beat earnings estimates by 3 cents while revenue was in line. Revenues rose 1.3% to $116.53 billion for the quarter. For Walmart stock, the two biggest growth drivers are e-commerce and grocery. Online sales rose 63% in the first quarter, which was higher than the 29% growth in the fourth quarter.

One tech is going in the wrong direction. Cisco Systems (CSCO) is down 7% to a four month low following earnings. The company beat estimates on in-line revenue. Revenue fell 0.5% year over year to $11.94 billion. The company issued in line earnings guidance while sales will come in below expectations. Revenue is expected to drop 4-6% missing estimates by half a billion. The company announced additional restructuring, including 1,100 more layoffs.

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.