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

5/16/18

Macy's (M) delivers great results. The big box retailer is up 10% to a new 52 week high beating earnings and sales results as sales rose 3.6% year to $5.54 billion. Macy's saw strong demand across all three brands—Macy's, Bloomingdale's, and Bluemercury—as well as across all geographic regions. Macy's also gave upside guidance for 2019. Last week, Morgan Stanley downgraded the stock to Underweight from Equal-Weight. Oops.

Everyone is taking shots at Facebook (FB). Facebook is lower by a percent as they continue to clean up their website. Facebook has suspended 200 apps pending a thorough investigation into whether they misused any data. Facebook also deleted 583 million fake accounts. That's a lot and I'm sure there are more. CEO of Apple took a swipe at Facebook this past weekend at Duke University commencement speech while the CEO of Salesforce.com called Facebook the cigarettes of their industry, highly addictive, but probably not good for you. Yikes.

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.