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

2/27/19

It was a Fortnite holiday for Best Buy (BBY). Best Buy is up 16% to a four month high following earnings.   Investments in its online business and expansion of services for smart homes has resonated with consumers and boosted sales. The company cited the frenzy for battle royale game "Fortnite" for a boost in sales of gaming gear. Best Buy announced an 11 percent boost to its quarterly dividend and a $3 billion share buyback plan.

Mylan (MYL) needs to clear house. The maker of the Epipen is down 10% near its 52 week low after missing earnings estimates as revenues fell 4.8% to $3.04 billion. Mylan went on to lower 2019 earnings and sales guidance due to rising costs related to marketing and research and development. Mylan's new product launches won't offset revenue declines for existing products this year as prices of generic drugs remain under pressure due to increased competition. Five brokerages cut their 12-month targets on Mylan's share price, and analysts at Cowen & Co were the most negative with a $25 target. Mylan has spent roughly $15 billion on product and company acquisitions in the last 4-5 years and yet these investments have not generated any more cash. Management clearly isn't getting the job done.

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.