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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

9/10/19

Oil looking good again. The driving season is over, but the price of oil is moving higher again. Oil-service giant, Schlumberger (SLB) is up 5% on an upgrade from Morgan Stanley. The upgrade is due to improving cash flow, a focus on international markets and maintaining its hefty dividend of 5.4%. With the stock down 50% from the highs set back in the beginning of 2018, there could be good upside.  

Ford Motor's (F) bonds are junk. The automaker is down 5% after bond-rating company Moody's downgraded the company's debt to junk, or speculative-grade status. The downgrade is due to considerable operating and market challenges facing Ford, and the weak earnings and cash generation likely as the company pursues a lengthy and costly restructuring plan to move more toward electric cars. Luckily for Ford, Fitch and S&P still rate Ford's bonds as investment grade.

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.