Stockwatch: Clouds Of Controversy Darken Earnings Season
This article was originally published in Scrip
Executive Summary
Valeant Pharmaceuticals International, Inc. was centre-stage last week, initially getting the second week of third-quarter earnings under way by reporting what the analysts from Jefferies suggested at the time was a 'solid' set of results. Those from JP Morgan described Valeant's beating of consensus estimates of sales and earnings as 'modest'. Unfortunately, that was not where the story ended.