You may be missing my point. If you follow the company, you know there's an ongoing investigation regarding price fixing for generic products, and it's a serious Federal investigation. They can only guide their numbers based on information they have or project to have....they can't guide based on information that is not yet available, or that may be material of which they're not yet aware. If more clarity regarding the investigation develops over the coming months, then they would share that with the market, and the guidance would make more sense.
So my point is they're guiding for the year, but yet they're not sharing any information regarding the subpoenas and investigation, which tells me they don't yet know what, if anything, will happen going forward. This is the uncertainty that investors are dealing with.
Which was a great reason to sell into this pre-market move, as I just did. This company is fine in reporting their earnings and revenue, but they never update the Federal investigation and subpoenas that could radically change their numbers going forward. I was waiting for a day like today to sell.
The key will be if any move up is sustainable over the coming days. At the very least, they have to tell the
market something regarding the status of the investigation.
Take a look at Level II quotes on this stock. The bids and asks are ridiculous. I mean, who would be crazy enough to buy or short 50,000 shares of this stock for over $110,000?
And yes, the stock is up in pre-market. Why? It's all about the technical candlestick printed yesterday. Traders were expecting it to go up today, and it is (so far). It's called a self-fulfilling prophecy, which is sort of what technical analysis is. All that said, this story is a mess. This should be trading in the low $80's with this report, but of course the analysts don't want to hurt the bull market and drive a Dow stock down too far.
Yes, the market is manipulated, or rigged as some say.
Add that to the IBM mess, and if tech and financials can't lead a market higher, they will definitely lead the market lower. I'm betting the market falls big, no matter what the guy in Europe pledges tomorrow......This will be a huge sell on the Draghi news, because the US earnings reports so far are horrible. The ECB news cannot save pathetic US earnings.
Even if the futures start off higher in the pre-market, this may be the best opportunity to short your favorite stocks, or go with the leveraged VIX plays or other bearish ETF's.
"Q-1 was .56, 3 cents better than consensus of .53, revenue rose to $234.2 vs. est. of $239.5; " "For Q-2, company sees EPS of .60-.66 vs. .68 est., sees Q-2 revenues of $260-$270 million vs. $267 est., Co. issues in-line guidance for FY '15.
So they missed on revenues, they're guiding EPS below consensus and revenue about in-line, and overall in line for the entire year. I can't see how this is good at all. Muted response in AH, I guess because the liquidity is so low, not much interest yet.
JUNO isn't the only one getting pummeled this am.
That would make sense, right? Gunmen everywhere, Isis threats, Britain on high alert, someone fired a shot a Biden's house, all that would make sense. If the futures were ripping higher on no news at all, then I'd be concerned.
The daily chart shows a descending triangle has formed since about November 1, or around the time the new subpoenas were discovered by the market. By definition, there are lower highs in the chart since then, but the lows are all around the $40-$41 range, or within a very narrow range. What we're seeing is a market selling at or near resistance
levels, but then being bought again around the lows, i.e. a trading range. This indicates a market waiting for something material to occur, in this case a resolution one way or another regarding the legal overhang and possible repricing in the generic drug space.
If the issues go away, as they very well may, then chances are the stock could break out eventually over the $51 area, and then on to test the previous high at about $60. If the stock breaks through the lower end of the range through about $40 on stronger volume, then you can assume the stock is heading still lower, and there's not much long term support until about $17-$18. Of course that's the worst case scenario, and not likely. I don't make this stuff up asiepker, I've been doing this a long time, and these are the facts technically as I see them.
Your homework this 3 day weekend is to see what happens when/if the S&P gets to or near 2045. If I'm correct and we're in the early stages of a major correction, the S&P will fail near 2045-2050, and eventually will break lower than 1972. We'll catch up late next week to see if I'm correct.
Short squeeze into the close, that's typical as well.
Are you talking about a geopolitical war, currency war, or something else? I agree that black swans are circling our planet right now.
You lost me until you got to the translation line.....On another note, isn't turnabout fair play? Or is it "revenge is sweet?" There's something for everyone in bear markets....enjoy!
What a farce...I mean, everyone knows how to play the game, esp. the big banks and investment houses. The financial media sets up their own agendas, but we all know the truth....The truth is, earnings quality is deteriorating all over the financial world, and the entire market is starting a protracted correction.....GS will fall with the market....Trader's expectations have to be reset, so they don't think you can buy the dips and everything will be fine.....It IS different this time...
The Grand jury issue is clearly the legal overhang for the stock.....there may be something going on, I agree.....of course they had to carry on with their presentation yesterday, if they had pulled out of the conference, that would have appeared even worse. Yes, the broader markets are down, but LCI is down over 6% and challenging key support levels.
This stock seems to be manic depressive.....Yesterday was the JPM healthcare presentation.....Were traders waiting for that to pass so they could sell? It rallied up to resistance, and then fell apart yet again.