Monthly Archives: February 2021
Stock futures are flat as major averages try to finish best week since November
(CNBC) Stock futures were flat in overnight trading on Thursday, following a four-day winning streak on Wall Street as investors awaited a closely-watched January jobs report. Futures on the Dow Jones Industrial Average rose just 10 points. S&P 500 futures […]
New York hedge fund founder pleads guilty to Neiman Marcus fraud
(Reuters) A New York hedge fund founder on Wednesday plead guilty to bankruptcy fraud for pressuring a rival not to bid for assets belonging to Neiman Marcus creditors so he could buy them at a lower price, the U.S. Department […]
98% of responding wealth advisors to increase alternatives allocation in 2021
(Opalesque) 98% of responding wealth advisors indicated they plan to increase or maintain client exposure to alternative investments in the coming year, said a new survey from PPB Capital Partners (PPB) For those looking to add to their exposure, 85% […]
SEC hunts for fraud in social media posts behind retail frenzy
(Reuters) – The U.S. Securities and Exchange Commission is reviewing social media posts for signs of potential fraud behind the recent trade frenzy in shares of GameStop Corp and other companies, Bloomberg News reported on Wednesday, citing people familiar with […]
Why investors were willing to write Robinhood a $3 billion check during the GameStop chaos
(CNBC) Robinhood’s ability to add hundreds of thousands of new customers during a week of chaos, along with its IPO prospects, convinced Silicon Valley backers that a multi-billion-dollar cash infusion was worth it. To read this article:
Deutsche Bank swings to annual profit, beating expectations
(CNBC) Deutsche Bank on Thursday beat earnings expectations for 2020 as it emerges from the coronavirus crisis, led by a strong performance in its investment banking division. Germany’s largest lender posted a full-year net profit of 113 million euros ($135.7 […]
This metric suggests there’s an economic boom ahead — and possibly inflation
(CNBC) As Washington squabbles over stimulus, the bond market is already counting on lots of fiscal spending and an economic bounce back. In an extreme case, inflation might be a risk. The metric the bond market is watching is the […]
Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3
(CNBC) Amazon CEO Jeff Bezos will leave his post later this year, turning the helm over to the company’s top cloud executive, Andy Jassy, according to an announcement Tuesday. Bezos will transition to executive chairman of Amazon’s board. Bezos, 57, […]
Treasury Secretary Janet Yellen to call regulator meeting on GameStop volatility, seeks ethics waiver
(CNBC) U.S. Treasury Secretary Janet Yellen is calling a meeting of key financial regulators this week to discuss market volatility driven by retail trading in GameStop and other stocks. Yellen will convene heads of the Securities and Exchange Commission, the Federal […]
SEC Charges Former Executives of San Francisco Bay Area Company With Accounting Violations
(HedgeCo.Net) The Securities and Exchange Commission today charged Joseph Jackson and Colm Callan, respectively the former CEO and CFO of WageWorks Inc. with making false and misleading statements and omissions, including to the company’s auditors, that resulted in the company’s improper recognition […]
Reddit user who helped inspire GameStop mania says he lost $13 million on Tuesday, but is still holding on
(CNBC) Keith Gill — who goes by DeepF——Value on Reddit and Roaring Kitty on YouTube — says he suffered a loss north of $13 million on Tuesday alone from his GameStop bet, but he’s still not selling. He’s the man […]
Sen. Elizabeth Warren asks Robinhood to explain why it restricted GameStop trades after hedge funds’ losses
(CNBC) Sen. Elizabeth Warren on Tuesday asked Robinhood in a letter to explain why it restricted trading in red-hot shares of GameStop after hedge funds suffered huge losses in a short squeeze. Warren, D-Mass., noted that the online brokerage last […]
