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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

4/3/19

Chip stocks keep rallying. Advanced Micro Devices (AMD) and Intel (INTC) are higher following upgrades at Nomura Securities. AMD is up 9% as the analyst called it a stand out in the chip space. Intel, Texas Instruments, Microchip are all up over 2% today. Also helping the sector is optimism for a U.S.-China trade deal.

Raytheon (RTN ) in defensive-mode. The defense contractor known for their missile defense system is down 4% on a downgrade at UBS with a lower price target. In a research note to clients, the analyst said Raytheon's relative valuation "is no longer compelling" given the company already has outperformed the large-cap defense average by roughly 900 basis points this year, and that it is already below average free cash flow yield for 2019 and 2020.

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.