Monthly Archives: May 2023
Despite poor guidance, Snowflake CEO says he is optimistic about the future
(CNBC) After an earnings report that saw a beat on revenue but poor guidance, CEO of data cloud company Snowflake Frank Slootman was firm in his optimism about the company’s future. “If you were to zoom out a little bit […]
SEC Shuts Down WeedGenics $60 Million Cannabis Offering Fraud
(HedgeCo.Net) The Securities and Exchange Commission obtained an emergency order to halt an alleged ongoing offering fraud and Ponzi-like scheme by Integrated National Resources Inc. (INR), which does business as WeedGenics, and its owners, Rolf Max Hirschmann and Patrick Earl […]
Apple announces multibillion-dollar deal with Broadcom for U.S.-made chips
(CNBC) Apple on has announced a new multibillion-dollar deal with Broadcom to develop 5G radio frequency components in the U.S. “We’re thrilled to make commitments that harness the ingenuity, creativity, and innovative spirit of American manufacturing,” Apple CEO Tim Cook […]
Hedge fund Standard General pulls plug on TV deal
(Hedgeweek) Hedge fund Standard General has terminated its acquisition agreement with US TV station operator Tegna, which manages 64 TV stations in 51 US markets, after failing to overcome a number of regulatory hurdles, according to a report by The […]
Stock futures are little changed as investors eye debt ceiling clash in Washington: Live updates
(CNBC) U.S. stock futures were all higher on Wednesday mornings as investors kept an eye on debt-ceiling negotiations. Futures linked to the Dow Jones Industrial Average rose by 46 points, or 0.14%. S&P 500 futures inched higher by 0.16%, and […]
Republicans question June 1 debt ceiling deadline as talks zero in on potential trade-offs
(CNBC) A significant group of House Republicans raised questions Tuesday about whether the Treasury Department’s June 1 deadline to avoid a potential U.S. debt default was accurate. “We’d like to see more transparency on how they come to that date,” […]
Former Fed Chair Ben Bernanke says there’s more work ahead to control inflation
(CNBC) Former Federal Reserve Chair Ben Bernanke, who guided the central bank and the U.S. economy through the Great Recession, thinks central bankers still have work to do to bring down inflation. That work, he and economist Olivier Blanchard argue […]
SEC Obtains Final Judgment Against Investment Adviser in Microcap Stock Trading Scheme
(HedgeCo.Net) The U.S. District Court for the Central District of California entered a final consent judgment against Thomas Carter Ronk imposing injunctive relief, a five-year officer-and-director bar, a five-year penny stock bar, and a civil penalty. According to the SEC’s […]
Jamie Dimon warns souring commercial real estate loans could threaten some banks
(CNBC) Deposit runs have led to the collapse of three U.S. banks this year, but another concern is building on the horizon. Commercial real estate is the area most likely to cause problems for lenders, JPMorgan Chase CEO Jamie Dimon […]
Stock futures are up slightly as Wall Street watches for debt ceiling progress: Live updates
(CNBC) Stock futures are modestly higher Monday night after a key debt ceiling meeting between President Joe Biden and House Speaker Kevin McCarthy, even though the two did not strike a deal. Futures tied to the Dow Jones Industrial Average added 88 […]
McCarthy calls Biden meeting ‘productive’ and ‘professional,’ but no debt ceiling deal yet
(CNBC) House Speaker Kevin McCarthy said he had a “productive” and “professional” meeting with President Joe Biden on how to raise the debt ceiling, but that the two did not reach a deal Monday. “I think the tone tonight was […]
Hedge funds up shorts against Greek bonds to highest level since 2014
(Hedgeweek) Hedge funds increased their bets against Greece’s government debt last week ahead of the country’s national elections, on the back of concerns over the possibility of post-election political paralysis, according to a report by The Financial Times. To read […]