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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

2/1/19

Chevron (CVX) and Exxon (XOM) are gushing oil. Both oil giants are up over 3% following better than expected earnings. Sales at Chevron rose 12% to $42.35 billion while Exxon saw sales rise 8.1% to $71.89 billion. Thanks to strong cash flow, Exxon reduced its debt by 9% in the quarter. The company also received an upgrade with a $100 price target. Chevron authorized a new $25 billion share buyback plan. A good time to be an oil company.

Amazon (AMZN) stumbles, sort of. Amazon is down over 4%, one of the weakest S&P 500 components, following earnings. Amazon actually beat estimates by 53 cents as sales rose 19.7% to $72.38 billion (better sales than Exxon Mobil). However, Amazon lowered guidance for the first quarter to $56-60 billion vs. $61.04 billion estimates. Operating income will be in a range of $2.3-3.3 billion vs. $3.0 billion estimates. The analysts are unfazed maintaining price targets of $1900 to $2200 a share or 18% to 40% upside for the stock.

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.