Pre- earnings gyrations don't mean much. The real question is can the low of $23.55 hold tomorrow or is this going into the teens.
4Q earnings was a disaster. Including items, they had a loss. They bought all these companies at inflated prices hoping to jack up the drug prices to make more money. Now they can't jack up prices because of government scrutiny, so they'll probably need to write down the value of the acquired companies, and they don't have money to buy more companies. So no more growth by acquisition. No more increase in revenue from raising prices, lower asset value, negative net profits, crushing debt load, multiple government investigations. This is not only never getting to $60, I'll wager it's never getting to $30.
today should do it.
They don't pre announce anything. The inevitable disappointment is always a surprise.
I guess they're going to hold it at 29 instead. I might as well take a nap for the rest of the day.
Either economy is weak and a rate hike is postponed for a couple months, or the economy is strong. Either way we hit new highs tomorrow.
It's a poster session. Poster sessions are about one step above a table in the vendor exhibit hall.
Lots of calls expiring tomorrow at $28 or above. MM's will make sure they expire wortless.
You mean like the store brand herbal supplements that were found to be 80 percent bogus ingredients?
If it were really successful R&D, it'd be presented with papers, not posters. Posters are just a step above having a table in the vendor hall.