07/20/14 - 11:15 AM EDT
Analyst reports on Michael Kors seem to hint that the company has been quietly telegraphing a disappointing earnings report.READ FULL POST
07/11/14 - 12:25 PM EDT
The halt in CYNK Technology points up the inaction on Lumber Liquidators and the heavy put options trading on other stocks.READ FULL POST
07/09/14 - 06:24 PM EDT
Potbelly was one of those disasters you could see coming. Ever since its IPO, its stock has done little more than head lower, and for good reason.READ FULL POST
07/09/14 - 12:55 PM EDT
The Container Store is finding out that a publicly traded retailer has to balance investors' needs with protection of the company's special character.READ FULL POST
07/08/14 - 06:40 PM EDT
In the recent quarter or two, companies -- especially retailers -- blamed the weather for dismal performance. But on Tuesday, retailers had to blame something else.READ FULL POST
07/07/14 - 01:39 PM EDT
It's rare that a company confesses to creating a fiction, but that's exactly what has happened in recent days in the bizarre tale of Let's Gowex.READ FULL POST
06/18/14 - 02:01 PM EDT
Disclosure: I've done zero work, and have no intentions to do any work, on Chicago Bridge & Iron CBI, which was the focus of an accounting takedown by Prescience Point Research Group.But I do have a take on CBI's response -- and I wouldn't be saying anything if it wasn't for the nature of its response.Not this part:CB&I has reviewed the report and strongly disagrees with its assumptions and conclusions.But this part:Notably, the report warns readers to assume that the short-selling firm and/or its affiliates hold short positions in CB&I common stock and that they stand to realize significant gains in the event that CB&I's stock price declines. CB&I believes that this conflict of interest should cause the report and its conclusions to be viewed skeptically.To which I say: Of course they're conflicted -- but no more or less conflicted than somebody own owns the stock. Prescience Point, which says it spoke with the company twice during its research, discloses that it's short at the top of its report.This ridiculous concept of trying to deflect critical commentary because the author is short is feeble, amateurish and, well, absurd, unless the company also criticizes bullish reports by analysts who it believes are conflicted because they own the stock.Reality: Everybody, if they own or short a stock, is conflicted. Everybody talks their book. That's Wall Street.READ FULL POST
06/17/14 - 05:31 PM EDT
If all else fails, or at least the stock isn't sizzling the way it should be, change the story. That's the moral of SolarCity, with news that it's planning to acquire Silevo, an unknown maker of high-efficient solar panels. The deal, in SolarCity's words, will make it the "most vertically integrated solar company in the world." We can slice it and dice it any way we want, but to Reality Check the most striking part of the the deal was the role Elon Musk, SolarCity's chairman: He opened the call and pretty much ended it. Until now, he has has been much more of a silent partner at a company run by his cousins, Lyndon and Peter Rive. The obvious question: Why do this deal?READ FULL POST
06/13/14 - 07:42 AM EDT
In a letter to employees filed with the SEC Thursday, Valeant Pharmaceuticals' CEO Michael Pearson claimed critics are using “the wrong assumptions” as they analyze the company.Wrong assumptions. Really? That’s like a company telling a reporter or analyst, who pushes too hard, that they’re asking the “wrong” questions. (Which, in general, usually means they're the right questions.)From the letter:"Our actions have generated a lot of attention from the media, and we expect this transaction will continue to be the focus of many press reports. Unfortunately, some of these reports have criticized our overall business model and raised questions about our approach to R&D. We disagree with these criticisms and they are often based upon wrong assumptions, and we have been setting the record straight with facts about our operating model and the performance of our businesses."READ FULL POST
06/12/14 - 02:09 PM EDT
I totally missed this story when it first came out in May, but it's just as relevant today -- even more so with the surge in shares of Boulder Brands BDBD, a gluten-free play: The doctor behind the gluten-free craze says he was wrong.Dr. Peter Gibson's reversal has been widely reported in a variety of publications, including Real Clear Science, the New Yorker and even on Good Morning America.But you wouldn't know it by the stock-goosing comments of Boulder Brands' CEO Stephen Hughes, at a William Blair conference earlier this week. Boulder owns a number of leading gluten-free brands, including Udi's and Glutino.In his presentation, speaking of gluten, he said:"So the reality is, this is one of those ingredients that we screwed around with. We hybridized wheat to make it more glutinous, so you could make bread faster, cheaper, better. Gluten is glue in Latin, and what we created was something that did make better bread, did make cheaper bread, but it's very hard to digest and it creates a lot of unintended consequences."READ FULL POST
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