Shares of Valeant Pharmaceuticals (VRX) closed down 16.53% today after Congressional Democrats announced they would seek a subpoena for drug information about the company’s high priced drugs. The reason for this subpoena is because about a month ago Valeant refused
September 28, 2015
CB Consumer Confidence There’s only one economic announcement that could move the market at the moment for the session, and that is the CB Consumer Confidence numbers out of the United States. Quite frankly, we do not expect much in
Coal is a key revenue-generating commodity for railroad operators. Naturally, the decline in domestic coal shipments has contributed big time to the dismal performance by U.S.-based railroad stocks so far this year. The struggles of the railroad operators have been
A friend just mailed us a few items that were posted at Zerohedge today as they came over the wire services. As is by now a well-worn tradition, individual FOMC board members (both members of the board of governors as well as
Recently, a retired widow met with me to discuss her concerns about having enough income from her investments. I reviewed her portfolio and made some suggestions about restructuring her investments to get predictable income. Here are some ideas I brought
With countless settlements documenting the rigging of every single asset class, it was only a matter of time before the regulators – some 10 years behind the curve as usual – finally cracked down on gold manipulation as well, even
In the wake of yet another big market selloff (biotechs down over 6% today), the Nasdaq 100 index down 2.87%, and the S&P down 2.56%, mainstream media parrots floated numerous reasons behind the selloff. All of the parrots are wrong.Lack
Those who were caught off guard by the August-September correction ignored a deluge of fundamental, technical and economic data. (See August’s Market Top: 15 Warning Signs.) Median U.S. stock valuations had surpassed 2000 and 2007. Technical deterioration in market breadth virtually guaranteed a
Costco (COST), one of America’s most beloved warehouse clubs, is set to report its fiscal 2015 fourth quarter results tomorrow. Wall Street Analysts are expecting an EPS of $1.66 and revenue of $36.28 billion. The Estimize consensus is calling for
No doubt who controlled market action today, and Bears weren’t stopping at August lows either. The Russell 2000 experienced the biggest hit, undercutting the August low. Next up is the October 2014 low. In percentage terms, the Nasdaq took
