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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

8/22/17

Shoes are back. Shoe retailer, DSW (DSW) is up 22% following better than expected earnings. The company beat estimates by 9 cents as sales rose 3.2% year over year to $680.4 million. The Board of Directors approved a new $500 million share repurchase authorization, in addition to the Company's remaining $33 million in its current authorization. The downside, even with the 22% jump, the stock is back to where it stood on August 8th.

Momo lost its momentum. The Chinese social media website reported better than expected earnings with revenue growth of 215%. The company also raised guidance for the next quarter, but Wall Street was unimpressed as the stock dropped 18% back to the support level from May and June. The good news is the stock is still up around 100% year to date.

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.