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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

12/4/19

Good news, the CEO and CFO are fired! Expedia Group (EXPE) is jumping 4% after announcing the resignation of CEO Mark Okerstrom and CFO Alan Pickerill. Chairman of the Board, Barry Diller and Vice Chairman Peter Kern will oversee the company's executive leadership team, managing day-to-day operations, while the Board determines the long-term leadership of the company. Expedia is adding 20 million shares to their repurchase plan and Barry Diller said he would be purchasing additional shares in the company stock as a tangible sign of his faith in and commitment to Expedia's long-term future. Google/Alphabet is also higher as the founder steps down as CEO.

Workday (WDAY) not working. The human-resources cloud software firm is down 5% today not far from a 52-week low following earnings. Earnings were actually better than expectations as revenues rose 26.2% to $938.1 million, but lackluster guidance has investors in the selling mood. Workday lowered guidance going forward saying new product launches and a recent acquisition won't help its performance much next year. Part of the selling has to be due to valuation with the stock trading for 73 times earnings and 8 times sales.

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.