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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

6/5/19

Insider buying at American Airlines (AAL) has the stock up 4%.  Chairman and CEO of American Airlines Group, Douglas Parker spent $1.4 million to buy 50,000 shares of his stock on Tuesday signaling to the market the stock is attractively valued. Four other executives bought stock for a combine $800 million. American Airlines has come under pressure this spring losing a number of Boeing planes due to safety concerns. However the industry is heading into their busiest season of the year as the price of oil has pulled back. The industry should have a good summer.

GameStop (GME) stops their dividend. The video game store retailer is down 35% to a 16-year low after mixed earnings and the elimination of their dividend to strengthen their balance sheet and provide increased financial flexibility and optionality. The analyst at Jefferies said GameStop's legacy retail model is at "increasingly odds" with how the gaming industry has evolved online. Another analyst cut his price target saying the business "burns to the ground." Something you never want to hear about a stock or business you own.

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.