Monthly Archives: January 2023
Light Street hedge fund down 54% in 2022
(Hedgeweek) Light Street Capital Management’s hedge fund racked up one of the industry’s biggest declines in 2022, falling 54% over the year, just shy of Tiger Global Management’s 56% decline, according to a report by Bloomberg. To read this article:
U.S. GDP rose 2.9% in the fourth quarter, more than expected even as recession fears loom
(CNBC) The U.S. economy finished 2022 in solid shape even as questions persist over whether growth will turn negative in the year ahead. Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose […]
Stock futures tick down after the Dow posts a five-day win streak
(CNBC) Stock futures slipped Thursday evening as investors look ahead to earnings and economic reports due Friday. Futures tied to the Dow Industrial Average fell 49 points, or 0.14%. S&P 500 futures and Nasdaq 100 futures were down 0.31% and […]
Intel’s horrible quarter revealed an inventory glut and underused factories
(CNBC) Intel’s December earnings showed significant declines in the company’s sales, profit, gross margin, and outlook, both for the quarter and the full year. Investors hated it, sending the stock over 9% lower in extended trading, despite the fact that […]
Bed Bath & Beyond warns it can’t pay down debts, defaults on credit line
(CNBC) Bed Bath & Beyond said Thursday it doesn’t have enough cash to pay down its debts and it has defaulted on its credit line with JPMorgan, warning once again of a potential bankruptcy. Shares of Bed Bath plunged Thursday […]
Tech layoffs aren’t hitting this digital job market where over 700,000 workers are needed
(CNBC) Strong demand for cybersecurity workers is continuing even as big technology companies lay off thousands of employees. That’s not a big surprise, as cybersecurity is seen as one of the more resilient areas for tech investment in a more […]
Tesla reports record revenue and beats on earnings
(CNBC) Electric vehicle maker Tesla reported earnings after the bell, beating on both earnings and revenue. Shares rose more than 5% after hours after CEO Elon Musk said the company might be able to produce 2 million cars this year. […]
S&P 500 futures are up slightly as investors weigh latest corporate earnings
(CNBC) S&P 500 futures advanced modestly Wednesday night as investors parsed through the latest batch of corporate earnings that dropped after the bell. Futures tied to the broad index traded up 0.02%, while Nasdaq-100 futures gained 0.13%. Futures tied to […]
IBM tops revenue estimates, says it will cut 3,900 jobs
(CNBC) IBM reported quarterly revenue on Wednesday that topped analysts’ estimates, driven by higher-than-expected growth in the company’s software and infrastructure segments. Here’s how the company did: Earnings: $3.60 per share, adjusted, vs. $3.60 per share as expected by analysts, […]
GDP report could show solid fourth-quarter growth but still signal a recession is coming, economists say
(CNBC) Economic growth is expected to have slowed slightly in the fourth quarter but was still solid, driven by a strong consumer. Economists will be studying Thursday’s report on U.S. gross domestic product carefully for signs of how strong or […]
Citadel makes record $16bn profit
(Hedgeweek) Ken Griffin’s Citadel is now the best ever performing hedge fund in terms of annual returns having chalked up a $16 billion profit for investors in 2022 on the back of a raft of winning wagers including bonds and […]
SEC fines Bloomberg $5 million for disclosure violations on fixed-income prices
(HedgeCo.Net) The Securities and Exchange Commission has announced settled charges against Bloomberg Finance L.P. (Bloomberg) for misleading disclosures relating to its paid subscription service, BVAL, which provides daily price valuations for fixed-income securities to financial services entities. The SEC’s order […]