The Five Dumbest Things on Wall Street This Week

4. Glib Gab at Getty

The bad news is all blurring together at Getty Images (GYI Quote).

Shares tanked 16% this week as the Seattle-based photo licensor posted disappointing fiscal second-quarter earnings. The company said volume in its royalty-free business has been soft, though it quickly pointed to other highlights.

"Some of you may have noticed that we managed to not only shoot, but also distribute, what many described as the photographic tool of the century," CEO Jonathan Klein told analysts on a conference call Tuesday, according to the seekingalpha.com transcript. "That was the baby pictures from Angelina Jolie and Brad Pitt."

That momentous and unprofitable occasion aside, Getty's growth slowdown has fed rumors of massive layoffs. The company says no widescale firings are on the way, and that new jobs will be created by new business lines. On that point, Klein indicated on Tuesday that he has a bold vision for the future.

"We will manage aggressively through this transformation," Klein said, "directing resources to areas that provide the most compelling growth opportunities, thereby, setting the foundation for a new stage of growth."

But the new stage may well provide a better foundation for some Gettyites than for others, as Klein conceded last week in a note to employees.

"As part of our vision, there will be changes to some departments and job functions," he wrote. "This means some of our colleagues will not be part of the new structure."

They'll be out of the picture altogether, apparently.

Dumb-o-Meter score: 82. "Our entertainment imagery is exploding," Klein said, though imploding is probably a better word for the stock.

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