Monthly Archives: August 2022
Novavax cuts 2022 revenue guidance in half, stock tanks in after-hours trading
(CNBC) Novavax deeply cut its full-year revenue guidance Monday, with no new Covid-19 vaccine sales expected for 2022 in the U.S. or from an international alliance called Covax that represents low- and middle-income countries. The Maryland biotech company cut its […]
Consumers expect inflation to slow down, a big win for the Fed
(CNBC) The consumer outlook for inflation decreased significantly in July amid a sharp drop in gas prices and a growing belief that the rapid surges in food and housing also would ebb in the future. The New York Federal Reserve’s […]
Surgalign Holdings to Pay $2 Million to Settle Accounting and Disclosure Fraud Charges
(HedgeCo.Net) The Securities and Exchange Commission has charged Surgalign Holdings, Inc., formerly RTI Surgical Holdings, Inc., and former executives Brian Hutchison and Robert Jordheim for masking disappointing sales numbers by shipping future orders ahead of schedule to accelerate, or “pull […]
Bankrupt crypto lending platform Celsius withdraws motion to hire CFO back at $92,000 a month
(CNBC) Embattled lending platform Celsius has withdrawn its motion to bring back ex-CFO Rod Bolger at $92,000 a month, prorated over a period of at least six weeks, according to a court document filed in the Southern District of New […]
Stock futures flat following S&P 500?s third winning week in a row
(CNBC) Stock futures were little changed early on Monday morning, following the S&P 500?s third straight weekly gain, as investors shifted focus to a key inflation report this week. Futures on the Dow Jones Industrial Average dipped 30 points or 0.09%. […]
Berkshire Hathaway reports operating earnings surge, but posts big investment loss amid market rout
(CNBC) Berkshire Hathaway’s operating profits jumped in the second quarter despite fears of slowing growth, but Warren Buffett’s conglomerate was not immune to the overall market turmoil. The conglomerate’s operating earnings — which encompass profits made from the myriad of […]
Danger ahead: The U.S. economy has yet to face its biggest recession challenge
(CNBC) You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an economy in recession can produce 528,000 jobs in a month, […]
Tiger Global’s flagship fund down 50%
(Hedgeweek) Tiger Global’s flagship fund has ended Q2 with a 50% loss after fees on the back of the recent crash in tech stock prices, according to a report by The Financial Times. To read this article:
Walmart lays off corporate employees after slashing forecast
(CNBC) Walmart has begun to lay off corporate employees, the company confirmed Wednesday, about a week after it slashed its profit outlook and warned that consumers had pulled back on discretionary spending due to inflation. In a statement to CNBC, […]
Hedge funds heading for second worst year of performance on record
(Hedgeweek) Hedge funds are heading for one of their worst years of performance on record, with many managers having failed to protect investors from sharp falls in equity and bond markets, according to a report by The Financial Times. To […]
Robinhood’s Tenev says the retail brokerage firm is not interested in selling itself despite struggles
(CNBC) Robinhood CEO Vlad Tenev said Wednesday that the retail brokerage is not looking to be acquired despite announcing major layoffs after another quarter of shrinking active users. “In one word: No,” Tenev said on an investor call when asked […]
Stocks rally to reverse two-day slide, surging on rosy earnings results and economic data
(CNBC) U.S. stocks rallied Wednesday, clawing back losses from earlier in the week, as traders cheered better-than-expected economic data that helped allay recession fears. The Dow Jones Industrial Average rose 416.33 points, or 1.29%, to 32,812.50. The S&P 500 gained […]