Monthly Archives: October 2023
Meta beats on top and bottom lines as digital ad recovery pushes revenue up 23%
(CNBC) Meta reported better-than-expected results for the third quarter as revenue increased 23%, the fastest rate of growth since 2021. The stock initially rose in extended trading after the report, but then reversed course and fell more than 3% following […]
IBM software sales up 8% as the company beats on top and bottom lines
(CNBC) IBM’s overall revenue grew 4.6% year over year in the quarter, or 3.5% at constant currency, according to a statement. Net income reached $1.70 billion, or $1.84 per share, compared with a net loss of $3.20 billion, or $3.54 […]
BlackRock to liquidate its first hedge fund
(Hedgeweek) BlackRock, the world’s largest asset manager $9.42tn in AUM, is planning to liquidate its first hedge fund, the Obsidian fund after twenty seven years of operation, according to a report by CityWire. To read this article:
Ford, UAW reach tentative deal to end labor strikes
(CNBC) The tentative agreement, includes 25% pay increases over the terms of the agreement and will cumulatively raise the top wage to more than $40 an hour, including an increase of 68% for starting wages to over $28 an hour. […]
Endeavor stock surges as Silver Lake says it’s considering taking the company private
(CNBC) Endeavor Group Holdings, the talent agency and sports company run by Ari Emanuel, said Wednesday it would explore strategic alternatives, which could mean a possible sale or potentially going private again after two and a half years on public […]
BlackRock Charged with Failing to Properly Disclose Investments by Publicly Traded Fund it Advised
(HedgeCo.Net) The Securities and Exchange Commission has charged BlackRock Advisors, LLC, an investment adviser, for failing to accurately describe investments in the entertainment industry that comprised a significant portion of a publicly traded fund it advised. To settle the charges, […]
Jamie Dimon rips central banks for being ‘100% dead wrong’ on economic forecasts
(CNBC) JPMorgan Chase CEO Jamie Dimon on Tuesday warned about the dangers of locking in an outlook about the economy, particularly considering the poor recent track record of central banks like the Federal Reserve. In the latest of multiple warnings […]
Hedge fund capital crosses $4tn at beginning of Q4
(Hedgeweek)Hedge fund capital surpassed the $4 trillion milestone to begin the fourth quarter, according to data by HFR, a global insights provider in the alternative investment industry, specializing in the indexation and analysis of hedge funds. To read this article:
Gold market sees second-biggest ever short covering rally on record
(Hedgeweek) Short positions in the gold market are falling, as money managers are increasing their speculative gross long positions in Comex gold futures, leading to the second-biggest ever short covering rally on record, according to a report by Kitco, citing […]
S&P 500 futures are little changed after Microsoft and Alphabet report
(CNBC) S&P 500 futures were little changed Tuesday night as investors digested quarterly results from tech giants Microsoft and Alphabet. Futures tied to the S&P 500 lost 0.06%. Nasdaq 100 futures fell 0.2%.Meanwhile, Dow Jones Industrial Average futures gained 74 […]
Microsoft ticks up on faster cloud growth and hopeful revenue forecast
(CNBC) Microsoft shares jumped as much as 6% in extended trading Tuesday after the software maker issued fiscal first-quarter results and quarterly revenue guidance that beat Wall Street estimates. The firm also reported a surge in profit due to a […]
Alphabet shares drop as cloud miss overshadows better-than-expected overall results
(CNBC) Alphabet reported 11% revenue growth in the third quarter, as a rebound in advertising pushed expansion into double digits for the first time in over a year. The shares dropped almost 7% in extended trading as the cloud business […]
