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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

10/4/18

Beer is back. The Corona beer maker, Constellation Brands (STZ) is up 4% following better than expected earnings. Not only did Constellation beat expectations as revenue rose 10.1% year/year to $2.3 billion, but they also raised guidance for 2019. Demand was strong for the newly launched Corona Premier brand, a low-carb, low-calorie beer that resonated with millennial consumers. Constellation is also the company that invested $5 billion into cannabis company, Canopy Growth (CGC).

FANG stocks taking a hit. Apple (AAPL) and Amazon (AMZN) are lower by 2% as news Chinese operatives inserted microchips in motherboards sold to Apple and Amazon.com to spy on them. Facebook is down 2% to a five month low. Netflix and Google are down 3%. A majority of the share buybacks this year have been in the tech sector. With earnings on the horizon, the tech stocks may not be able to buy back their stocks until November. Could be a long month.

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.