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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

4/27/18

Amazon (AMZN) catching Apple. Amazon is up 4% to a new all-time high following flow out earnings. Sales rose 42% to $51 billion. Operating income rose 92% while operating cash flow rose to 4% to $18.2 billion. Amazon raised its second quarter operating income and will increase prime membership by 20% to $119 a year. Amazon recently announced they have 100 million in Prime members so the 20% pay hike will generate another $2 billion in sales. Plenty of upgrades for Amazon with price targets of $1800, $1900, $2020 and $2200. Another 7% stock appreciation and Amazon will catch Apple for largest US market cap.

Most oil company are performing well, but Exxon Mobil (XOM) is taking a hit down 3% after missing estimates as revenues rose 2.5% to $68.21 billion. Cash flow from operations and asset sales was $10 billion, including proceeds associated with asset sales of $1.4 billion. The increased commodity prices, coupled with a focus on operating efficiently and strengthening our portfolio, resulted in the higher earnings and the highest quarterly cash flow from operations and asset sales since 2014. Exxon hit raise their dividend 6% bringing the yield up to 4%. That should provide limited downside going forward.

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.