Channel Stuffing

Barron's Does It Again

Has there ever been a more ill-timed example of the curse of the Barron's cover than this?

Apple Tumbles To ETFlash Crash Levels, Saved (For Now) By Another Tim Cook Hail Mary Announcement

Apple's shares broke below $100 in pre-market trading as analyst downgrades and further component producer outlook reductions weighed heavily on the "no brainer." It appears increasingly likely that Tim Cook's "rescue" email to Cramer on August was perhaps not the entire truth.. and the market is trading back to levels it first crossed in August 2014 (i.e. unchanged in 16 months). Of course, amid this carnage this morning, AAPL attempted to save the day and issued a quick statement proclaiming January 1st as the biggest App Store spending day in history... for now the stock is not excited about that.

Valeant Hit With Downgrade Warning By S&P Which Sees "Reputational, Legal, And Regulatory Risks"

Moments ago, the BB- rated Valeant debt "story" went from bad to worse, when S&P just revised its outlook to negative citing "Risks To Growth" adding that its "negative rating outlook reflects risks to our base case expectation that Valeant can sustainably grow revenue and EBITDA, given the potential reputational, legal, and regulatory risks the company is facing."

As More Facts Emerge, Valeant Stock Plummets Again Ahead Of "Defense" Conference Call

If Valeant had hoped today's previously announced 8:00 am conference call, which is supposed to explain its relationship with Philidor and its network of pharmacies in general or, as the company put it, "to lay out the facts including allegations made against our company regarding our relationship with Philidor and R&O, our accounting practices, and channel stuffing that contain numerous errors, unsupported speculation and incorrect interpretations of facts and circumstances", would come and go and the price of VRX stock would promptly surge right back to $200, it was due for a very rude awakening when not one but two pieces came out once again slamming the company's business practices, and leading to even more questions about potential fraud at the increasingly more Tyco-esque roll-up.

Volkswagen Of America CEO Grilled In Congress Over Emissions Scandal - Live Webcast

What may be the worst month in Volkswagen's corporate history is about to get a cherry on top, when the CEO of Volkswagen of America CEO Michael Horn is set undergo the Kangaroo Court treatment, when he testifies before a House Energy and Commerce  subcommittee investigating last month's admission the company had installed on-board computer software designed to cheat on government emissions tests in nearly 500,000 of its four-cylinder "clean diesel" cars starting with the 2009 model year.