It's been an ugly few days for Valeant. Following Wells Fargo downgrade and Jim Chanos warnings over PBMs broadly based on Deutsche Bank's analysis, Dow Jones reports after-hours that Valeant is set to restate earnings after an internal review.
Maybe this explains CEO Pearson's sudden "pneumonia"...
The stock is down 10% after-hours, down 18% on the day and back at levels not seen since early 2013...
And the dividend hits just keep on coming.
Back in October we posted the following image on the way to introducing a new mortgage product co-sponsored by Quicken and Freddie Mac.
In what the companies billed as “a new effort dedicated to building a better American housing system,” Quicken and Freddie announced what they called an “innovative solution” to “meet the needs of emerging markets, including millennials, first-time homebuyers and middle-class borrowers.”
Bad news is awesome news again... oh and short squeezes, VIX manipulation, and crude contract rolls are the new 'fundamentals'... Just one waffer thin mint of monetary easing...
Submitted by Tim Price via SovereignMan.com,
For the benefit of non-subscribers, there are two versions of the Financial Times newspaper. One of them is the hard copy edition, still printed on pink paper, an exact digital replica of which is available on the paper’s website to subscribers. The second is the website itself, at www.ft.com. The difference between the two is subtle, but crucial.