Candidates stormed the country into the wee hours of the morning as the 18 month long campaign winds down and Americans head to the polls. Historically, stocks rise on election day and then fade after. The Dow Jones data team says the average change in stocks the day after the election is .9% with Democrats seeing the top declines coming after a Democrat president is elected. Valeant Pharmaceuticals (VRX) is cutting its guidance. The company did beat earnings expectations but revenue slid more than expected. The stock has had a tumultuous year, falling 80% as it dealt with an accounting scandal, drug price hikes and a potential debt default. Smith & Wesson (SWHC) is planning a name change. Next month, the nation's largest gun maker will ask shareholders to approve changing the name of its holding company to American Outdoor Brands, though it will continue to use the Smith & Wesson name for its best selling guns. CEO James Debney wants to diversify the company into the larger recreational market.
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