BAX addendum: Of the $0.28 reduction in 2010 EPS guidance the company made yesterday, $0.18 comes from the company’s own screw-up in overestimating the plasma-protein market and $0.10 comes from the increased Medicaid rebates under ObamaCare. (The latter $0.10 figure is in addition to a $0.07 one-time charge for ObamaCare’s tax change relating to retiree healthcare premiums, which BAX excluded from the before and after non-GAAP EPS figures.)
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”