Monthly Archives: February 2023
Facebook-parent Meta announces $40 billion stock buyback
(CNBC) Facebook parent Meta Platforms said in its quarterly earnings statement on Wednesday that it has increased its share repurchase authorization by $40 billion. In 2022 the social network operator bought back about $28 billion in stock, according to the […]
Meta shares soar almost 20% on fourth-quarter revenue beat
(CNBC) Meta shares popped in extended trading on Wednesday after the company reported fourth-quarter revenue that topped estimates and announced a $40 billion stock buyback. Here are the results. Earnings: $1.76 per share Revenue: $32.17 billion vs $31.53 billion expected, according […]
FedEx is laying off 10% of its officers and directors amid cooling demand
(CNBC) FedEx is cutting more than 10% of its officers and directors, CEO Raj Subramaniam announced Wednesday, as the company slashes corporate jobs to cut costs amid cooling consumer demand. “Unfortunately, this was a necessary action to become a more efficient, agile organization. […]
SEC Obtains Final Judgment Against Defendant for Role in Offering Fraud
(HedgeCo.Net) The United States District Court for the Eastern District of New York has entered a final consent judgment against New Jersey resident Walter Gil de Rubio for his role in a scheme that defrauded approximately 80 investors of over […]
Stock futures tick lower as traders await the Federal Reserve’s latest rate hike decision
(CNBC) Stock futures slipped Tuesday evening as investors looked ahead to the Federal Reserve’s Wednesday meeting. Futures tied to the Dow Jones Industrial Average shed 48 points or 0.14%. S&P 500 futures and Nasdaq Composite futures were down 0.20% and […]
Fed expected to slow rate hiking to a quarter point but will stay unrelenting in inflation battle
(CNBC) The Federal Reserve is expected to raise interest rates by just a quarter point but also likely signal it will stay vigilant in its fight against inflation even as it reduces the size of the hikes. The Fed releases […]
Bitcoin grabs lion’s share of $117m digital assets fund flows
(Hedgeweek) Digital asset investment products saw $117 million of inflows last week, the largest since July 2022, while total asset under management (AuM) have risen to $28 billion, up 43% from their November 2022 lows, according to them latest digital […]
Why AMD is faring much better than Intel in the same tough economy
(CNBC) AMD and Intel are fierce competitors in a difficult market for chips, but one has a much brighter short-term outlook than the other. While Intel is expecting declines across the board, AMD’s data center business is growing with the […]
Elliot to nominate Salesforce directors
(Hedgeweek) Activist hedge fund firm Elliot Management is planning to nominate a slate of director candidates at Salesforce after acquire multi-million dollar stake in the could-based software company, according to a report by EuroNews. To read this article:
PayPal to lay off 2,000 employees in coming weeks, about 7% of workforce
(CNBC) PayPal on Tuesday announced plans to lay off 2,000 employees, or around 7% of its workforce, according to a release posted to the company’s website.President and CEO Dan Schulman wrote in the release that PayPal is working to address […]
Delaware Investment Adviser and Its Principal Charged with Conducting a Fraudulent “Cherry-Picking” Scheme
(HedgeCo.Net) The Securities and Exchange Commission today filed charges against Rehoboth Beach, Delaware-based Bell Rock Capital, LLC, and its principal, M. Cassandra Toroian, for operating a multi-year cherry-picking scheme that defrauded Bell Rock clients. The SEC’s complaint alleges that from […]
Dow futures fall more than 600 points as traders assess ripple effects of Russia sanctions
(CNBC) U.S. stock futures moved lower in overnight trading on Sunday as investors grew concerned about the economic ramifications of the fighting between Russia and Ukraine. Dow futures dropped 659 points. S&P 500 futures fell 2.43% and Nasdaq 100 futures […]