Sometimes the next big thing isn’t easy to spot—even when its the iPhone, which celebrated its 10th anniversary today. Steve Ballmer, founder of Microsoft, infamously said that Apple’s new invention was a waste of money. “Five hundred dollars? Fully subsidized? With a plan? I said that is the most expensive phone in the world,” Ballmer reportedly […]

Reuters Jim Chanos, founder of Kynikos Associates Jim Chanos just presented his short thesis for Mallinckrodt Pharmaceuticals, a company that generates most of its revenue from one drug — Acthar. At the same time, he slammed the company that exclusively distributes Acthar for Mallinckrodt, Express Scripts. Express Scripts is a pharmacy benefit manager, which means […]

REUTERS/Nacho Doce Demonstrators protest against Brazil’s President Michel Temer in Sao Paulo, Brazil, May 17, 2017. The signs read: “It’s over Temer! General elections. and Out Temer! Out reforms and General elections.” Brazil’s markets are getting slammed as a political scandal unfolds involving alleged bribery and the country’s president. And some of the biggest firms in […]

AP Photo/Justin Pritchard ZEV-credit-making machine. After Tesla reported a surprising third-quarter profit on Wednesday, its first in 13 quarters, analysts dug into the results and founds that Tesla had sold a lot of zero-emission vehicle (ZEV) credits in Q3, amounting to $ 139 million. Tesla bear Colin Langan, lead auto analyst at UBS, has a […]

AP Photo/Ed Betz A worker stirs a natural gas-powered furnace of molten aluminum at Crestwood Metal in Holbrook, N.Y. Wednesday, Feb 8, 2006. Britain’s manufacturing sector performed well below expectations in June, while industrial production was in line with expectations, according to new data released on Tuesday According to the latest figures from the Office […]

European markets got crushed on Tuesday, with all but one of the continent’s biggest share indexes losing more than 1% on the day, sending bourses to three week lows.  The falls came on a day light on economic data, with the highlight being a better than expected number for the continent’s producer price index. However, a […]

Thomson Reuters William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York Hedge fund titan Bill Ackman’s Pershing Square Holdings, the fund’s publicly traded vehicle, has fallen 14.5% in 2016, according to a performance update. That performance is through January 19.  Pershing Square had its worst […]

Thomson Reuters A screen displays the share price for pharmaceutical maker AbbVie on the floor of the New York Stock Exchange Drugmaker AbbVie’s stock tanked after the Food and Drug Administration warned about two of the company’s new hepatitis C treatments.  AbbVie’s share price fell was last down 12.95% at $ 46.86. The FDA warned that Viekira Pak […]