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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

7/17/18

Johnson & Johnson (JNJ) rebounding following earnings. The world's largest healthcare company is up nearly 4% after beating earnings estimates as sales rose 10% to $20.8 billion. The company issued in-line guidance for the full year. JNJ's stock has been under pressure of late due to a recent court ruling declaring they must pay nearly $4.7 billion in damages related to allegations that asbestos in J&J's talcum (baby) powder caused ovarian cancer. JNJ will obviously fight these claims and particularly the dollar amount.

Netflix (NFLX) coming back to earth. After rallying 100% year to date, the stock is taking a hit down 9% following earnings. The company actually beat earnings estimates as sales rose 40% to $3.91 billion. However the company lowered third quarter earnings, sales and global net subscribers to 5.0m vs. estimates of 5.6M. The company is also forecasting negative $3 to $4 billion in free cash flow due to content spending of around $12 billion for the year. If Netflix's stock keeps going lower, it will be tough for the company to keeping spending more than they make. We'll see.

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.