• GoldCore
    08/04/2015 - 06:08
    The headlines are dramatic, ugly and depressing to anyone who holds gold right now. Broad market sentiment has shifted from disdain and dismissive to highly negative. Hedge funds are shorting gold...
  • Pivotfarm
    08/03/2015 - 15:25
    The quest for perfection is man’s unattainable goal. Man can never be perfect if we are to believe the English philosopher Thomas Hobbes. Man is man’s wolf and all of that.

After Hours

EconMatters's picture

Einhorn Slams Mother Frackers





Einhorn just found his next target: U.S. onshore E&Ps or the oil fracking companies.

 
Tyler Durden's picture

S&P Futures Hug 2100 After China Denies QE, European Stocks Slide





Following yesterday's early MNI rumor that a Chinese QE is being "considered" and which sent the Shanghai Composite surging 3% and led to an initial boost in US stock futures, overnight the PBOC scrambled to once again deny such speculation. Of course, going full "cold Turkey" on Chinese stimulus would be too much for the market to handle, so in a piece by the WSJ also released overnight, the author said the PBOC would pivot from outright QE to mere LTRO, which is also not new and was reported over a week ago here in "China Floats QE Trial Balloon, PBoC May Launch LTROs." In any event, for now at least, Asian stocks are not happy despite Apple's latest blockbuster results, and neither is Europe, with the Stoxx 600 down 1%, and even the E-mini is hugging 2100 unable to levitate on any imminent central bank intervention.

 
Tyler Durden's picture

IBM Reports Worst Sales Since 2002; EPS Beats On Aggressive Buybacks, Cut In Tax Rate





IBM numbers in a nutshell: Revenue dropped by 11.9% to $19.6 billion; Net Income dropped by 2.4% to $2.3 billion...

And yet... GAAP EPS rose by 2.6% to $2.36!

Here's the accounting magic behind this "beat"

 
Tim Knight from Slope of Hope's picture

Negative Interest





The past six years have transformed my disposition toward the markets from excitement to frustration to despair to disillusionment to sheer tedium.

 
Tyler Durden's picture

9 New York Doctors Arrested For Using Homeless People To Defraud Millions From Medicaid





In America’s fraudulent oligarch economy in which corruption and theft have become the preferred means to earn money, it’s no surprise doctors feel a need to participate. Mr. Rorie was recruiting homeless people, prosecutors said, ...after hours of unnecessary tests and fake diagnoses, the homeless people would be sent off with sneakers - selected from stacks of shoeboxes in the clinics’ basements... "We can use the same patients like guinea pigs for anything we want,” Mr. Vainer was recorded saying in a government wiretap." Do no harm indeed.

 
Tyler Durden's picture

Bill Ackman Faces FBI Probe Over Possible Herbalife Stock Manipulation





Herbalife stock is up over 5% after hours after WSJ reports Bill Ackman (among others) made false statement about Herbalife's business models to regulators - in order to spur investigations into the company and lower its stock price. This comes just months after Ackman kinda-sorta-didn't-really insider-trade in the Allergan 'scam' that we detailed here. We suspect Whitney Tilson (and his Lumber Liquidators positions) is getting a little nervous now... and Carl Icahn is quietly laughing to himself.

 
Tyler Durden's picture

This Is Why Hewlett-Packard Is Firing 58,000





The rich get richer and stock buybacks; the poor get poorer and pink slips. Rinse. Repeat.

 
Tyler Durden's picture

Ukraine 'Peace' Talks In Tatters: Defiant Putin "Won't Tolerate Unipolar World"; Hollande Proposes "Strong Autonomy" For Rebel Region





Just as the existing 'truce' in Ukraine has been made a total farce as 1000s of military and civilians have been killed, so any 'hope' that this weekend's "peace efforts" will result in anything but more talk is rapidly diminishing... Germany's Merkel exclaimed honestly that it's "uncertain whether this will be successful," seemingly resigned to the fact as she added, "but it's at least worth making an attempt." French President Hollande admitted that Ukraine's eastern regions likely need "strong autonomy." Ukraine's Poroshenko blustered that he "trusts" Merkel, that the economy is collapsing (more money please), that the country does not need peacekeepers and a lack of arms is fueling conflict (so send us weapons) while pushing for a Russian withdrawal and quick cease-fire.  Finally Vladimir Putin blasted that Russia is unwilling to tolerate a post-Cold War global system dominated by one absolute leader, to which US VP Joe Biden remarked simply "get out of Ukraine." But apart from that, talks are going great...

 
Tyler Durden's picture

BlackBerry Shares Crash Back To Earth After Company Denies Samsung Rumor





In October, BBRY shares spiked (and dumped) on rumors that Lenovo had made an offer. Today, after a detailed report from Reuters explained that Samsung executives had offered to takeover the troubled phone-maker (or whatever they call themselves nowadays) and the stocks spiked up nearly 40% - perfectly running stopw through the mid-Nov highs and squeezing shorts out of the market... and now - after hours - BlackBerry issues a statement denying the whole thing... rigged much?

 
Tyler Durden's picture

This Is The Devastation That Follows When Stock Buybacks Grind To A Halt (Hint: Herbalife)





Herbalife: the harbinger of what happens when every stock buyback story inevitably turns very, very ugly.

 
Tyler Durden's picture

Is It About To Get Worse? Lakeland Hazmat Suit Orders Go Exponential, Surpass 1 Million





Almost exactly a month ago, long before the Texas Ebola fiasco, when virtually nobody had heard of a small company out of Ronkonkoma, NY called Lakeland Industries and whose only product is "industrial protective clothing for industry, municipalities, healthcare and to first responders" i.e., Hazmat suits, we asked "i) who will get sick next and ii) how bad could it get?" For the answer we focused on the recently announced order of 160,000 Hazmat suits by the US State Department which had come at a time when the CDC was urging everyone that there is nothing to fear and that Ebola is under control. Fast forward to today when shortly after the close, and minutes after it announced the completion of another $11 million follow on offering, Lakeland surprised everyone, and especially those who are short the stock, when it released the following "Update on Business Activity Relating to Ebola Crisis" in which it announced that it has, by now, received a stunning 1 million Hazmat suit orders and rising exponentially.

 
Tyler Durden's picture

Clip Of Unmanned NASA Rocket Exploding Shortly After Takes Off





Several months ago, a Russian rocket, carrying Russia's most advanced communications satellite, exploded on launch and the west was amused at Russia's seeming incompetence, while birthing extensive speculation of the NSA's involvement. Well, moments ago either Karma, or Russian hackers, intervened, and 6 seconds after launch, the NASA unmanned Antares rocket of rocket-maker Orbital Sciences, likewise ended its mission prematurely in a massive flaming fireball.

 
Tyler Durden's picture

FaceBook Crashing After Hours After Guiding Sharply Lower Q4 Revenue Growth





Update: the reason FB stock is now crashing is because moments ago, the CFO stunned the investing community when he announced that FaceBook costs next year will go up by 55-75% without giving guidance on 2015 revenue. He also announced that WhatsApp, FB's $19 billion acqusition, was "accretive" to the tune of a $232 million loss in the past 6 months. Stock now down over 10%.

Facebook reported that its Monthly Active Users for the US and Canada - the segment that generates roughly half of all FB sales - rose to a record 206 million. Putting that number in context: in the same two countries, there are currently about 155 million people employed. In other words, there are about 1.3 Facebook users for every single employed person in the US and Canada.

 
Tyler Durden's picture

Is This The Reason Twitter Is Tumbling After Hours?





While overall Twitter's just released Q3 numbers were more or less in line as expected, with Q3 EPS printint at just a penny, the same as expected on $361 million in revenues, $10 million higher than the $351 million expected, and even EBITDA of $68 million beat estimates of $52.8 million, the stock after hours has tumbled by some 12%. And while the headline data appear normal, it is one of the gimmicky, non-GAAP "twitter-specific" indicators that the company came up with just to validate its growth story that appears to be the cause of the drop afterhours, namely TWTR's Timeline Views/MAU, which declined across the board, and were down in both the US and Worldwide not only Y/Y (by -6% and -7%, respectively), but also down compared to the second quarter.

 
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