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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

9/6/18

Good news, the CEO is getting let go. Media Company, CBS (CBS) is up 3% on news their board is in settlement talks with CEO, Les Moonves to negotiate his exit. The negotiations are tricky as Les Moonves is entitled to over $100 million exit package. There also is the issue of who will take over and what the majority shareholders, Shari Redstone and National Amusements Inc will say. This is the highest level for the stock of CBS in over a month following news that women had spoken out regarding sexual misconduct of CEO Les Moonves.

The chips are taking a hit. DRAM chipmaker, Micron (MU) is down 8% to a six month low after disclosing at a conference today that yes they are seeing weakens in pricing of their NAND chips in the current quarter. The news is also hitting chip equipment maker Applied Materials down 4% and KLA-Tencor (KLAC) down 9% and Lam Resaerch (LRCX) down 6%. Big cap tech is also taking a hit for a second day with Google, Facebook Twitter and Amazon all down 2% or more.

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.