Monthly Archives: February 2024
Snap plunges 30% on revenue miss and light guidance, as company says Middle East war creates ‘headwind’
(CNBC) Snap has struggled to rebound from the downturn in the digital ad market and has now reported six straight quarters of single-digit growth or sales declines. For the fourth quarter, revenue rose about 5% year over year to $1.36 […]
Founder of American Bitcoin Academy Online Crypto Course Charged with Fraud Targeting Students
(HedgeCo.Net) The Securities and Exchange Commission has announced that Brian Sewell and his company, Rockwell Capital Management, agreed to settle fraud charges in connection with a scheme that targeted students taking Sewell’s online crypto trading course known as the American […]
Ken Griffin’s Citadel hedge fund rose 1.9% in January as volatility ramped up
(CNBC) Billionaire investor Ken Griffin’s flagship hedge fund rose last month as volatility made a return amid the debate about rate cuts, according to a person familiar with the returns. Citadel’s multistrategy flagship Wellington fund climbed 1.9% in January, following a […]
UBS beats earnings expectations, announces up to $1 billion share buyback
(CNBC) Swiss banking giant UBS on Tuesday narrowly beat fourth-quarter earnings expectations and announced that it would recommence share buybacks worth up to $1 billion in the second half of the year. The group posted a net loss attributable to […]
Stock futures are little changed after S&P 500 and Dow slide from record highs: Live updates
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Palantir stock jumps 19% as AI demand drives revenue beat
(CNBC) Revenue in the fourth quarter increased 20% to $608.4 million from $508.6 million a year earlier. The company reported a net income of $93.4 million, or 4 cents per share, compared with $30.9 million, or 1 cent per share, […]
S&P 500 and Nasdaq gains take shine off hedge fund returns
(Hedgeweek) As ever, hedge fund news in the first month of the year was dominated by last year’s returns, with lots of positives from the likes of Citadel (15.3%), Millennium Management (10%), DE Shaw (10%), Rokos Asset Management (8.8%) et […]
Record hedge fund returns attract investors to catastrophe bonds
(Hedgeweek) Institutional investor interest in catastrophe bonds, one of the riskiest corners of the debt market, is on the increase on the back of reports of record returns at hedge funds including Fermat Capital Management, Tenax Capital and Tangency Capital, […]
Hedge fund First Seagull swoops on Superdry stake
(Hedgeweek)Norwegian hedge fund First Seagull has acquired a 5.3% stake in Superdry on the back of a series of profit warnings and a share price slide that the investment firm believes makes the UK-based retailer ripe for a takeover bid, […]
Stock futures are little changed ahead of busy week of corporate earnings: Live updates
(CNBC) Stock futures were flat on Sunday evening as Wall Street looks to build on another positive week. Futures tied to the S&P 500 dipped less than 0.1%. Futures for the Dow Jones Industrial average ticked up eight points, or […]
Powell insists the Fed will move carefully on rate cuts, with probably fewer than the market expects
(CNBC) Federal Reserve Chair Jerome Powell vowed in an interview aired Sunday that the central bank will proceed carefully with interest rate cuts this year and likely will move at a considerably slower pace than the market expects. In a […]
Meta’s Zuckerberg sees $28 billion windfall after shares rocket
(CNBC) Meta CEO and co-founder Mark Zuckerberg has 28 billion reasons to celebrate the company’s gangbuster quarter. As of Friday’s close, Zuckerberg is the richest he has ever been, thanks to a 22% surge in Meta stock that has left […]