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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

6/20/17

Biotechs are back. Regeneron Pharma (REGN) jumped 5% to a new high following an upgrade at Piper Jaffray with a $557 price target up from $446 a share. The stock also benefited from a drug trial that showed a Novartis (NVS) treatment for age-related macular degeneration was not worse than but not better than Regeneron's Eylea. The stock has been on a tear the last two months up 37% following earnings on May 4th.

Chipotle Mexican Grill's (CMG) turnaround is expensive.  The casual dinning restaurateur had a tough 2016 when sales crashed 20% due to food safety issues. Today the stock dropped 7% after disclosing the company would miss estimates due to higher spending on advertising to get customers back. The good news is the company will continue expand, opening 195-210 new stores in the next year.

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.