GAAP

Cisco Plunges After Slashing Revenue Guidance

While Cisco reported both EPS and revenue that beat Wall Street estimates, it was the company's revenue guidance that stunned the market as the company now expects sales to decline between 4 and 6% in the fourth quarter, crushing consensus estimates of a modest 1% decline.

Dick's Slammed After Company Admits It Doesn't Know How To Calculate EBITDA

First it was non-GAAP adjustments, then it was stock buybacks, then it was fudging the effective tax rate; and now, in the most creative way to "boost" one's earnings, Dicks Sporting Goods admitted it blatantly fabricated its Adjusted EBITDA. But it's ok: it was a simple calculation error, and now everything is "fixed", the company reported in an 8K filed this morning.

Tesla Burns Through $620 Million, Loses $13,000 Per Car Made Ahead Of Model 3 Launch

Traders were looking forward to today's "black box" earnings from Tesla as it would be the first quarterly report that combined Tesla Motors operations with a full quarter from cash-bleeding monstrocity SolarCity following the pair's merger, and would also provide much needed information about the "imminent" launch of the Model 3. They got both good and bad news.

Facebook Sinks After Confirming Ad Growth To Slow Down "Meaningfully"

If it was still a question in anyone's mind whether Facebook was really going to slow down ad revenue growth, it's not anymore. CFO Wehner was very clear in his comments. Wehner is doubling down on the comments from last quarter that ad growth will come down "meaningfully.'' He's also maintaining the forecast of new spending of $7 billion to $7.5 billion this year, 50 percent more than last year.