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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

12/10/18

Defense stocks look good. In a down market, the defense stocks are in the green on reports President Trump wants to boost the 2020 defense budget to $750 billion. Lockheed Martin (LMT) is up 3%, Raytheon (RTN) is up 2% and General Dynamic (GD) is up 1.5%. In the tech space, Facebook (FB) is up 2% after the company added $9 billion to their $15 billion share buyback plan. The buyback accounts for 6% of their outstanding shares.

 FedEx (FDX) stock heading in the wrong direction. With the holiday season upon us, FedEx is firing on all cylinders except for the stock price, down 4% today and down 30% from the January highs. On Friday, FedEx changed leadership at its Express division, its largest unit, which generates more than half of their total revenue. A Merrill Lynch analyst downgraded the stock this morning saying the change in leadership was surprising and could signal a reduction or delay in its profit-improvement targets. FedEx will report earnings next week.

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.