little marco Drops Out of Contention; Mitt Romney Waits in the Balance

Marco Rubio just announced he’s out of the running for top checkered pants republican candidate for President. Heretofore, he was a meaningless first term U.S. Senator. After today, he’s a humiliated first term Senator.

Moving on.

It’s rumored that Catchers Mitt Romney is going to enter the race, in order to take some delegates, especially from his psychotic home state of Utah. If the GOP is going to broker the convention, they might just tap old Mitt to lead the way towards another L.

According to the media, if Governor Kasich wins Ohio, which he’s up by 12% over Bozo Trump right now, he’s likely to be appointed Consul of the United States, who will also be granted prima-noctae powers over his subjects.

As for Donald Trump, his entertaining speeches are greatly appreciated by the RNC and they thank him for spending inordinate amounts of dollars on his campaign to help boost the national economy.

The GOP has successfully sold the idea that a brokered convention isn’t stealing, if done in broad daylight by men in suits. Forthwith, with Trump’s loss in Ohio, the media shall push forward the agenda to strip him of his votes and the dignity of his supporters.

“The Donald” is humiliating little marco in his home state of Florida, taking a commanding lead over all, now up by 20%.

He’s up by 8% in N. Caroline, 41% to 33%. Lastly, he trails Governor K by 4.3% in Ohio, 40% to 35.7%.

If he doesn’t win Ohio, the GOP will most likely contest the convention and steal it during the nomination during the convention. In other words, we’re all wasting our fucking time here, making believe democracy is at play.

On the democrat side, H. Clinton is gimping Sanders in all contests.

Super asshole and legendary investor, G. Soros, is at it again, this time directing his minions of middle earth, fire breathing, heathens to succor the amiable Hillary campaign. To date, he has given her $13 million, more than the two previous presidential cycles combined.

Soros cites ‘anti-immigration and ‘anti-Muslim’ statements for his unbending support for the swollen faced and helmeted face Hillary R. Clinton.

“The intense anti-immigrant and anti-Muslim rhetoric that has been fueled by the Republican primary is deeply offensive,” Soros said in the statement. “There should be consequences for the outrageous statements and proposals that we’ve regularly heard from candidates Trump and Cruz.”

Soros, who is 85, is reportedly worth $25 billion and has some money to burn.

Seriously, I don’t know how the indexes are showing gains into the bell. Across the board, stocks were destroyed today. Largess losses were abundant and readily absorbed in the financials, energy and healthcare sectors. The only sector that was green were the utilities.

Market breadth closed at an appalling 23%. This had the feeling of a sharply lower market. Who the fuck is kidding who?

Anyone with a portfolio in this market felt defeated and beaten about the face and chest, for today’s ass-kicking was strong and filled with vigor.

Tomorrow is the Fed day. I don’t see them saying anything of note. Moreover, it’s very hard to predict tomorrow will give the market any agreeable timeline for hiking rates. The market might be telling itself higher rates isn’t a big deal and that we can easily absorb them. The truth is, the market is a fucking liar.

Higher rates means disastrous everything.

Board the ark.

The often derided and seldom praised Theranos, who sports a very well connected and aging board of directors, is hosting a fund raiser for her good pal H. Clinton, who was gracious enough to lend her daughter to the event to grovel and collect the donations.

No judgments here. Naturally, Hillary wants money and she doesn’t shrink from taking it from people who are willing to buy friendship at $250 per and co-host with Chelsea for the miserly rate of just $2,700, regardless of their reputation or the methods used to acquire said wealth.

CONVERSATION WITH CHELSEA CLINTON
Monday, March 21st
11:00 AM
Hosted by Elizabeth Holmes
Offices of Theranos
Palo Alto, CA
(Address available upon RSVP)
Participation Levels:
+ Co-host: $2,700 – contribute or raise $2,700 includes host reception with Chelsea Clinton
+ Friend: $1,000
+ Supporter: $500
+ Friend: $250
+ Student: $100

As you were.

The entire biotech industry is being dismantled today, under the dark clouds of Valeant Pharmaceuticals. The two largest drops in the sector, outside of VRX, are MNK and ENDP. The common denominator is all three companies have pursued a grow by acquisition strategy, one that entailed jacking up the price of drugs to improve margins.

This has proven to be a disastrous model during this politically charged business cycle.

Perhaps these stocks rebound, wildly, after H. Clinton becomes the first female President of the United States. After all, the healthcare lobbyists will not permit her to take malevolent actions against their clients. Since she’s a team player and part of the status quo, it’s very likely that a H. Clinton win could equate to a gargantuan rally in all of these stocks that her rhetoric has helped destroy in the first place.

Alas, the joys of politicians and their empty promises.

In lieu of $VRX plummeting through the floor boards and the specter of Andrew Left from Citron Research scheduled to appear on CNBC to discuss the situation, has the shares of MNK are positively plunging lower, down more than 17%.

Since A. Left is bearish on MNK, you’d be absolutely bereft of clear thinking to be long this stock ahead of a Citron media appearance.

Pershing Square is trying to stem the flow of blood flowing from its orifice. Ackman took the time out from his busy day of losing $600 million to tell the world that Pershing isn’t playing games anymore. The fucking games are over.

Ackman means business now.

Dear Pershing Square Investor, Today, Valeant reported preliminary unaudited earnings for Q4, updated guidance for Q1, full year 2016 and the next twelve months. In particular, management shocked the market with revenue and earnings guidance for the next twelve months (Q2 2016 to Q1 2017) which does not appear to foot with continued favorable prescription trends and management’s commentary on the call about the strength of the underlying businesses. Furthermore, the company’s 10-K has been delayed requiring the company seek a waiver under its credit agreement. While we believe that it is highly likely that the banks will provide a waiver, uncertainty about the potential for a default creates enormous investor fear.”

“The above factors have caused investors to lose total confidence in the company as reflected by the current 44% decline in Valeant’s stock price.”

“Last week, Steve Fraidin, our Vice Chairman, joined the board. We are going to take a much more proactive role at the company to protect and maximize the value of our investment. We continue to believe that the value of the underlying business franchises that comprise Valeant are worth multiples of the current market price. Getting to those values, however, will require restoration of shareholder confidence in the management and governance of the company.”

The 40%+ plunge in VRX is definitely imposing itself onto the share prices of biotech stocks, as well as a wide array of healthcare related stocks. There are scores of double digit losses being absorbed today, in spite of the minor losses present in the broader indices.

Healthcare, in general, is under severe pressure today.

More often than not, a bad actor which crushes the prices of its industry peers is usually a buying opportunity for the unrelated stocks. However, in this case, the story might drag on for a while. Plus anyway, the wide majority of the biotech sector is unprofitable, very young, and laden with shareholder bases who are ignorant to their business models and will flee at the first sign of trouble.