Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

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

Check the background of this firm on FINRA's BrokerCheck.

Diamonds and Dogs

12/20/17

FedEx (FDX) heading in the right direction. The $66 billion delivery juggernaut is up 2% to new highs thanks to better than expected earnings and positive comments for 2018. FedEx beat earnings estimates by 30 cents as revenue rose 10% beating estimates as well. Going forward, FedEx raised earnings and sales for 2018 above estimates. FedEx also gave a guidance range regarding the Republicans tax cut bill. The new tax bill could add an estimated $4.40 to $5.50 to FedEx's fiscal 2018 adjusted earnings. To put that in context, that's an extra $1.3 billion in earnings. Not shabby.

Phillip Morris (PM) taking some heat. The International tobacco giant is down 3% on cautious comments regarding the FDA approval of path-breaking smoking device. A number of former employees and contractors have described irregularities involving clinical trials that underpin the tobacco giant's FDA application. This new device known as iQOS, avoids subjecting smokers to the same levels of carcinogens and other toxic substances found in a regular cigarette by simply heating the tobacco instead of burning it. We'll see if this device goes up in smoke.

 

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.