After Hours

Who could have seen this coming? Week after the CEO ordered his mega-yacht and 6 months after Jim Cramer said "it was going higher," GoPro has just slashed Q4 revenue guidance by 15% (from $510.9mm to $435mm) and has addtionally decided to layoff 7% of the workforce. For now, GPRO is halted... but Ambarella is not (and is collapsing 6% after hours) leaving them down 65-80% since Cramer said "buy buy buy."

Everything is not awesome. We have three small words for all those MLP-holders: "Paid to wait."

"I hesitated on doing this but I literally owe Etrade $106,445.56 as of this moment what would you do if you were in my situation?"

If there were any questions if the US consumer was merely "strong" or "quite strong", after the abysmal results from Macy's first, and moments ago, Nordstrom, they should all be safely swept away now.

Today's most anticipated earnings report was Facebook, and moments ago the social network reported Q3 results which confirmed that while the American middle class is increasingly unable to find work, it has a lot of free time to spend on their Facebook account. Here is how it did.

Just when you (and Bill Ackman) thought the worst was over,  an avalanche of insurers and pharmacies are dumping Valeant's Philidor and raising more questions about its activities. VRX is now down 16% on the day, back below the key $100 level (after touching $127 intraday).

In a day in which the walking dead were on the verge of going green (Twitter nearly wiped out its entire loss following last night's earnings), there was some hope that momo stocks would finally make a come back. Alas, for the company which we first dubbed "camera on a stick" it was just not meant to be.

This comes at the totally wrong time.

Moments ago IBM reported what can be defined simply as abysmal results.

As we head into another earnings season, the bulls better pray to whatever pagan gods they worship that company after company magically defy the downturn that the economy is quite obviously entering.

Well this might explain the weakness in BABA over the last couple of days as it appears 'news' of the IRS lack of decision on the tax-free-ness of YHOO's BABA spin-off leaked out. It is decidely unclear how the IRS's decision not to issue a ruling will impact the spin-off but for now YHOO shares have flash-crashed after hours and are now hovering 5-6% lower...