Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

Check the background of this firm on FINRA's BrokerCheck.

Diamonds and Dogs

1/14/19

Citigroup (C) leading the financial sector higher following earnings. Citigroup is up 4% to a one month high even though earnings were less than stellar in the fourth quarter.  Citigroup actually missed sales estimates due to a decline in the Fixed Income business. The good news is investors are looking past the bad news in the quarter. Citigroup sees the economy remaining strong, noting similar fears about the economy in 2011 and 2016 which never materialized. Mike Mayo upgraded Citigroup to Outperform saying there are no 'bogeyman' coming for the banks and the big banks are benefiting from scale like never before.

Western Digital (WDC) taking a hit on a downgrade. Western Digital is down 5% today and down over 60% since March due to slowing cyclical demand. The analyst said the $2 a share dividend may not be sustainable with only $2.35 a share in free cash flow and $11 billion in gross debt. Maybe Western Digital shouldn't have announced that multi-billion dollar buy back last summer when the stock was 50% higher.

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.