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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

11/26/19

Big week for retail. Dicks (DKS) is up 19% while Best Buy (BBY) is up 11% following better than expected earnings. Dicks also raised guidance for the full year. Black Friday is this week. Online sales are projected to rise 20.3% to $7.5 billion. Cyber Monday sales are seen rising 19% to $9.4 billion this year. It could be a good holiday.

Old tech going the wrong way. The former blue-chip tech titans like IBM and Hewlett Packard are not participating in this year's rally. Hewlett Packard Enterprises (HPE) is down 10% back in a trading range that started in February following earnings. Earnings actually beat expectations on in-line guidance, but sales fell 9.2% to $7.21 billion below expectations. HP is blaming the miss on longer sales cycles for bigger deals because of economic and geopolitical uncertainty. But maybe customers want to work with more innovative companies like Amazon, Google or Microsoft.

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.