Monthly Archives: September 2020
Walmart’s stock gets a $24 billion boost after retailer announces subscription service
(CNBC) The company’s shares closed up more than 6% on Tuesday. Earlier in the day Walmart’s stock hit a new 52-week high. Its market cap rose to $418 billion. To read this article:
Anthony Scaramucci hired Trump’s former body man for political consulting as feud with president grew
(CNBC) President Donald Trump’s former body man went to work on Wall Street for Anthony Scaramucci after being fired from the White House just a year earlier. John McEntee, the former personal assistant who was let go in 2018 after reportedly […]
Ex-Trump Acting Chief of Staff Mulvaney Starting Hedge Fund
(Bloomberg) Mick Mulvaney, a Trump administration veteran who served as acting White House chief of staff, is launching a hedge fund that aims to bet on financial services stocks. To read this article:
Hedge funds total redemptions reduced from $47.7bn in Q1 to $15.6bn in Q2
(Opalesque) Hedge fund assets under management (AUM) have risen in the second quarter of 2020, said Preqin. In a Q1 2020 rocked by poor performance and significant investor redemptions, industry AUM dipped below $3.5tn for the first time since Q4 […]
SEC Halts Fraudulent Offering by Florida Investment Adviser
(CNBC) The Securities and Exchange Commission today announced that it has filed an emergency action against Florida-based investment adviser Coral Gables Asset Management LLC and its sole owner, David C. Coggins, in connection with an alleged fraudulent offering. On Aug. 20, 2020, […]
Zoom shares soar after revenue more than quadruples from last year
(CNBC) Zoom Video Communications shares rose as much as 25% in extended trading on Monday after the company reported fiscal second-quarter earnings that were better than analysts had expected and raised its full-year guidance significantly. To read this article:
Stock futures flat in overnight trading after S&P 500 and Dow notch best August since 1980s
(CNBC) Stock futures were flat in overnight trading on Monday after Wall Street notched its fifth consecutive month of gains. Futures on the Dow Jones Industrial Average rose about 20 points. The S&P 500 futures and the Nasdaq 100 futures […]
September uncertainty will mark a volatility comeback, top strategist Lindsey Bell warns
(CNBC) The Dow is coming off its best August since “Ghostbusters” dominated the Billboard’s top 100 list 36 years ago. But it’s the next four weeks that could give investors a scare. Ally Invest’s Lindsey Bell predicts volatility will make […]
JC Penney hits ‘stalemate’ with potential buyers. Lenders to make bid for department store in bankruptcy
(CNBC) Talks to find a buyer for J.C. Penney have hit a “stalemate,” and time is running out to keep the department store chain alive, according to the company’s attorney. Discussions with three potential bidders, including the mall owners Simon […]
Blockchain Company Ordered to Pay $24 Million Penalty for Unregistered ICO
(HedgeCo.Net) The Securities and Exchange Commission has announced settled charges against blockchain technology company Block.one for conducting an unregistered initial coin offering of digital tokens (ICO) that raised the equivalent of several billion dollars over approximately one year. The company […]
US fund managers seek options to hedge against Brexit risk
(Hedgeweek) So far in the media, Brexit has been discussed from an essentially British perspective. But the implications – especially in the case of a no-deal departure from the EU – could have an impact far beyond the borders of […]
Brexit sterling bets pose no conflict for UK’s Johnson:
(Reuters) – Britain’s government on Monday dismissed opposition suggestions that Prime Minister Boris Johnson faces a financial conflict of interest over Brexit after receiving donations from fund managers who may be betting on a fall in the pound. To read […]