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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

10/12/18

 

The markets and the FAANG stocks are rebounding. After a 15% drop in the last week, Netflix is rebounding 5% on a upgrade from Citigroup with a price target of $375. The analyst believes the recent sell-off as an opportunity to own a high-quality, recurring revenue franchise with attractive upside potential. Netflix made news this week with plans to invest $1 billion over the next 10 years in a studio in New Mexico, creating 1,000 jobs annually. Netflix has also picked up a new movie and project starring one of Hollywood's go-to hit-makers, Dwayne "The Rock" Johnson.

PNC Bank (PNC) going in the wrong direction. PNC is down 7% not far from a 52 week low following earnings. The company actually beat by 10 cents as revenue rose 5.6% year over year to $4.36 billion, but disappointing quarterly loan growth and only a small improvement in lending for the final three months of the year has shareholders hitting the sell button.

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.