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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

5/18/18

Valero Energy (VLO) and the energy stocks look good. Valero is up 5% thanks to an upgrade at Morgan Stanley. The Energy sector jumped 4% last week and is now the second best performing sector year to date. The fundamentals for the oils and the refiners are only getting better. Valero is on a growth track to expanding its supply chain and ship more oil from their refineries.

Profit-taking in Cisco Systems (CSCO). After a 17% run up year to date, the stock is down 3% following earnings. The company beat by a penny as sales rose sales by 4.4% to $12.46 billion. The company provided inline guidance, the it looks like investors were looking for more.  The good news is Cisco has a $31 billion buyback plan in place and have only spent $5 billion. The tech sector is flush with cash.

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