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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

6/22/18

Marathon Oil (MRO) running well. The oil company is up 7% after OPEC decided to raise production by 600,000 barrels per day, significantly less than the 1 million barrels per day many feared. The U.S. oil benchmark, West Texas Intermediate, was up more than 3.5% in early trading to nearly $68 per barrel, while the global benchmark, Brent, was up about 3% to more than $75 per barrel. Naturally, energy stocks have followed suit, pushing the energy sector higher by 2.9%.

Red Hat (RHT) getting stomped. The cloud software maker is down 13% following earnings. The company actually beat estimates as sales rose 20% to $813.53 million, but the company lowered guidance for the current quarter and mixed guidance for the full year. Red Hat announced a new $1 billion share buyback. Don't feel too bad for Red Hat shareholders. They are still up 20% for the year.

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.