Monthly Archives: August 2023
UBS posts $29 billion second-quarter profit in first results since Credit Suisse takeover
(CNBC) UBS on Thursday posted a second-quarter profit of $28.88 billion in its first quarterly earnings since Switzerland’s largest bank completed its takeover of stricken rival Credit Suisse. Analysts had projected a net profit of $12.8 billion for the three […]
Salesforce shares pop on earnings beat and optimistic forecast
(CNBC) Salesforce shares jumped 6% in extended trading on Wednesday after the cloud software company announced quarterly results and guidance that surpassed Wall Street’s expectations. Here’s how the company did: Earnings: $2.12 per share, adjusted, vs. $1.90 per share as […]
Hedge fund exposure to ‘magnificent seven’ tech stocks hits record high
(Hedgeweek) Hedge funds have upped their exposure to the seven biggest technology company stocks to the highest level ever seen, just as Nvidia hit an all-time individual high after exceeding revenue expectations, according to a report by Reuters. To read […]
Lone Pine sees $3bn of redemptions in 12 months
(Hedgeweek) Investors in Lone Pine Capital, the hedge fund firm founded by Steve Mandel, made investment redemptions totalling around $3bn in the 12 month period to the end of June, despite performance recovering from a challenging 2022, according to a […]
Alt investment fundraising slowing, says Preqin
(Hedgeweek) Despite a predicted boom in allocations to alternative investments including hedge funds, private equity, private credit, and real estate, fundraising has slowed significantly in 2023, according to a report from the Financial Times. To read this article:
Hedge funds up Treasury shorts
(Hedgeweek) Hedge funds are likely expanding their basis trade activity, which exploits the price differences between future and their underlying bonds, with short sales of US Treasury futures having surged, according to a report by Bloomberg. To read this article:
Citigroup Global Markets Charged with Recordkeeping Failures concerning Underwriting Expenses
(HedgeCo.Net) Recordkeeping requirements of the federal securities laws require broker-dealers to make and keep current certain books and records, including ledgers or other records reflecting all assets and liabilities. The SEC’s order finds that, from at least 2009 through May […]
Nvidia’s stock closes at record after Google AI partnership
(CNBC) Nvidia shares rose 4.2% Tuesday to close at a record, after the chipmaker announced a partnership with Google that could expand distribution of its artificial intelligence technology. The stock’s torrid run continued, as it’s now up 234% in 2023, […]
Stock futures are little changed after a third straight winning day on Wall Street: Live updates
(CNBC) Stock futures are flat Tuesday night after another positive session, marking the latest leg in an end-of-month rally as investors try to mitigate August’s losses. Futures tied to the Dow Jones Industrial Average gained 28 points, or 0.1%. S&P […]
Bitcoin rallies more than 7% as court sides with Grayscale over the SEC in crypto ETF case
(CNBC) The price of bitcoin surged Tuesday after the U.S. Court of Appeals for the DC Circuit ruled that the Securities and Exchange Commission was wrong to deny crypto investment giant Grayscale permission to convert its popular bitcoin trust into an […]
Redwood Materials, run by ex-Tesla CTO, raises $1 billion to expand recycling operations in U.S.
(CNBC) The company takes spent electric vehicle batteries, breaks them down and uses the metals from them — including nickel, copper, cobalt and lithium — to produce new components that can go into EV batteries. One of Redwood’s major goals […]
Hedge funds up bullish EM equity futures positions
(Hedgeweek) Improving optimism for emerging market equity futures has prompted hedge funds to increase their bullish positions in the asset class to the highest level seen since the pandemic three years ago, according to a report by Bloomberg. To read […]
