This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Five Dumbest Things on Wall Street This Week: March 1

1.) Accretive's Idiocy

File this under ironic. Or moronic. Whatever suits you.

Shares of Accretive Health (AH) sank over 20% percent Wednesday, after the company said it will delay the release of its fourth-quarter and 2012 results because it needs to review the way it records revenue. Accretive yanked its annual guidance, which called for adjusted net income of 23 to 27 cents per share and net service revenue of $948 million to $980 million. Wall Street analysts forecasted net income of 25 cents and $950.8 million in revenue for the year and earnings of 9 cents and $237.3 million in revenue for the fourth quarter.

Oh, in case you were unfamiliar with Accretive Health, take a guess as to what they do for customers.

Don't know? No worries. We'll just borrow the company's own description of its business from its press release.

"Accretive Health partners with healthcare providers to help them more effectively manage their revenue cycles, strengthen their financial stability, and improve the quality of care they provide while reducing overall healthcare costs."

Yes friends, the company that helps its clients manage their revenue cycles can't manage its own. And no, it doesn't get any dumber than that.

Well, actually it could get dumber if they are forced to restate prior financial statements. And according to the company's release, that's a very real possibility.

And on that note, we would also advise the company to restate the advertising slogan on its Web site.

Sticking with the current catchphrase "Results Providers Trust" is just too laughable. Or sad.

You know. Whatever suits you.
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
5 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AH $0.00 0.00%
AVID $7.79 0.00%
LYV $24.60 0.00%
MSO $6.09 0.00%
VVUS $1.70 0.00%


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs