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The rise and fall of Theranos, in one graphic

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Theranos, the blood-testing startup with a $9 billion valuation, has had a turbulent year. On Wednesday, the company made major changes to the company, including the announcement that its president and chief operating officer Sunny Balwani, who served as CEO and founder Elizabeth Holmes’ second-in-command, is retiring. Here’s a review of the events that led up to...
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David Tepper has invested in Valeant and dumped Apple

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Hedge fund billionaire David Tepper has purchased shares of Valeant Pharmaceuticals in the first quarter while also selling a large number of Apple shares, according to a filing with the SEC. Tepper’s fund Appaloosa purchased 945,000 shares of the troubled pharmaceutical company worth $24.8 million. While the investment is relatively small considering the fact that Appaloosa...
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Nordstrom is getting annihilated after abysmal earnings

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High-end retailer Nordstrom is getting rocked Thursday afternoon after abysmal earnings. The company posted earnings of $0.26 per share against analyst expectations of $0.46 a share. Sales also were terrible, with a drop of -1.7% in comparable stores sales, analyst expected flat sales. Revenue was slightly lighter than expected at $3.25 billion for the quarter....
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DOW FALLS 217, RETAIL STOCKS GET SMOKED: Here’s what you need to know (DIA, SPX, SPY, QQQ, TLT, IWM, LC, M, AMZN, GPS, TJX, SHLD)

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Stocks fell on Wednesday, erasing most of Tuesday’s gains, led by a steep decline in retail stocks that was spurred by bad news from Macy’s out before the market open.  First, the scoreboard: Dow: 17,711.7, -216.7, (-1.2%) S&P 500: 2,064.5, -19.9, (-0.9%) Nasdaq: 4,760, -49, (-1%) WTI crude oil: $46.10, +3.2% Retail Look: retail is...
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Disney whiffs on earnings and sales, stock plunges 6% (DIS)

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Disney reported quarterly profits and sales that missed analysts’ expectations after the closing bell on Tuesday.  The media behemoth posted adjusted earnings per share of $1.36 for its fiscal second quarter, while its revenues totaled $13 billion.  Analysts had estimated that the company posted $1.40 in adjusted earnings per share, and revenues of $13.21 billion.  Cable revenues...
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