Were Morgan Stanley 's+4.52%earnings so bad that James Gorman‘s job is in danger? Are Valeant Pharmaceuticals ' +3.81% critics finally being proved correct? And didOprah Winfrey make the easiest $50 mil ever?
On Monday’s MoneyBeat podcast, host Paul Vigna was joined by Maureen Farrell and Erik Holm, and Heard on the Street’s John Carney to tackle those meaty topics.
Morgan Stanley cleared $1 billion in the third quarter, but that was far worse than both what the Street was expecting, and the kinds of returns the Wall Street firm’s peers had reported. “Absolutely dismal,” Carney said.
Meanwhile, shares of Valeant Pharmaceuticals International Inc. are getting hammered. Critics, including former acquisition target Allergan PLC, have long complained about the company’s business model. Now, with the government probing their pricing strategies, those criticisms are landing body blows. Shares are down nearly 40% since August, and are off another 8% on Monday, after a conference call in which the company seemed to cop to many of the critics points.
Lastly, Oprah Winfrey had the kind of day most investors can only dream about. The iconic Ms. Winfrey bought a 10% stake in struggling Weight Watchers InternationalInc.WTW +35.20% for about $43 million – and watched her new holding more than double on the stock’s very first tick of trading. That’s a tremendous one-day return, but whether or not the tie-up is a good one, for both Ms. Winfrey and the company, won’t be clear for a few years.
0 comments:
Post a Comment