Management of Valeant Pharmaceuticals (VRX) is taking an “overly rosy” long-term view of the business, Piper Jaffray analyst David Amsellem tells investors in a research note following the company’s Q4 results. The analyst cuts his price target for the shares to $10 from $12 and reiterates an Underweight rating on the name. Valeant closed…
Back in 1995, on a crisp fall September night, Cal Ripken Jr. did the previously unthinkable and broke one of the most enduring streaks in baseball history when his 2,131st straight game became official in the top of the fifth. That game surpassed the previous record of 2,130 straight games that was held by “The…
Median household income in the U.S. rose to an estimated $59,055 in January 2018, an increase of nearly 0.4% from our December 2017 estimate of $58,829. The following chart shows our estimates for the trends for both nominal (red) and inflation-adjusted median household income (blue) from January 2000 through January 2018. In nominal terms, which provide perhaps…
Cotton Futures Cotton futures in the May contract is currently down 90 points at 82.03 breaking a 4 day winning streak as prices are still hovering right near a 4 week high as I’m currently not involved in this market, but I do have a bullish bias to the upside as prices remain strong due…
Here is the opening statement from the Department of Labor: In the week ending February 24, the advance figure for seasonally adjusted initial claims was 210,000, a decrease of 10,000 from the previous week’s revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The previous week’s…
Investors continue to remain wary of the Brexit negotiations and as a result have sold off the Pound Sterling once again. Markets are waiting to hear what the Prime Minister will have to say in regard to the Brexit when she speaks on Friday. Later today, Theresa May will be meeting with Donald Tusk, the…
Investors continue to remain wary of the Brexit negotiations and as a result have sold off the Pound Sterling once again. Markets are waiting to hear what the Prime Minister will have to say in regard to the Brexit when she speaks on Friday. Later today, Theresa May will be meeting with Donald Tusk, the…
Gold: Hawkish Powell Testimony Sends Gold Lower Gold prices continued lower this week, extending losses from the prior week as the market reacted to the first testimony from new Fed Chair Powell. Powell caused a wave of USD buying as he stated that the economic outlook in the US had improved since the December FOMC and said that the…
My friend, Doug Kass, recently penned an interesting note in his daily diary entitled “It Bears Repeating.” To wit: “Several acquaintances I have that have consistently had bearish market outlooks acquiesced after Friday’s market ramp and have taken off their short hedges.” Yes, that would be me. But his important point is next. “If, as I suspect, the early…
In a world in which a handful of tech companies which derive the bulk of their revenues from advertising are the market leaders, what happened to WPP Plc – the world’s largest ad agency – this morning is particularly relevant: the company suffered its biggest one day crash since 1999, tumbling as much as 15%, after…
