Monthly Archives: October 2023
CFTC Charges Former Chief Executive Officer of Digital Asset Platform with Fraud in Massive Commodity Pool Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission has filed a complaint in the U.S. District Court for the Southern District of New York against Tennessee resident Stephen Ehrlich, the former chief executive officer of now-bankrupt entities Voyager Digital Ltd., Voyager Digital […]
Bill Ackman covers bet against Treasurys, says ‘too much risk in the world’ to bet against bonds
(CNBC) Pershing Square’s Bill Ackman revealed Monday he covered his bet against long-term Treasurys, believing that investors may increasingly buy bonds as a safe haven because of growing geopolitical risks, the latest of which being the Israel-Hamas war. “There is […]
Wall Street hikes forecasts for anti-obesity drug sales to $100 billion and beyond. A look at the numbers
(CNBC) Most analysts predict the market for new weight loss drugs such as Wegovy and Mounjaro will be enormous, but estimates vary for its exact size depending on who you ask. On Monday, Citi raised its estimate for incretin drug […]
Stock futures inch higher as investors await tech earnings:
(CNBC) Stock futures rose slightly Monday night as investors focused on the upcoming slate of earnings reports from major tech companies. Futures tied to the Dow Jones Industrial Average added 50 points, or 0.1%. S&P 500 futures and Nasdaq 100 […]
Okta cybersecurity breach wipes out more than $2 billion in market cap
(CNBC) Okta has shed more than $2 billion from its market valuation since the company disclosed a hack of its support systems Friday. The high-profile incident is the latest in a string of incidents that have been tied to Okta […]
Intel stock drops on report Nvidia is working on an Arm-based PC chip
(CNBC) Intel stock dropped 3% Monday after Reuters reported that Nvidia and AMD were working on Arm-based PC chips. Arm stock rose nearly 5%, and Nvidia gained nearly 4% during late-day trading Monday. Intel currently has the majority of the […]
Prosecutors in Bankman-Fried trial compare defense argument to ‘Dumb and Dumber’
(CNBC) Prosecutors in the criminal trial against FTX founder Sam Bankman-Fried compared one of the defense’s arguments to a scene in the 1994 film “Dumb and Dumber,” in which actor Jim Carrey says IOUs are “as good as money.” Much […]
GM and Ford will answer to Wall Street and the UAW with third-quarter earnings this week
(CNBC) Ready for a tightrope walk? General Motors and Ford Motor report third-quarter earnings and future guidance this week amid ongoing strikes and contract negotiations with the United Auto Workers union. And it’s a difficult balance. If the automakers are […]
Peter Kambolin charged for engaging in a “Cherry-Picking” scheme involving cryptocurrency futures contracts
(Opalesque) Peter Kambolin, a former chief executive officer of an investment firm pleaded guilty to a “cherry-picking” scheme, in which he fraudulently misappropriated profitable trades to himself, and saddled his investors with losses. According to court documents, Peter Kambolin, 48, […]
Stock futures edge higher on Sunday night as Wall Street awaits big tech earnings
(CNBC) Stock futures ticked higher on Sunday night as traders looked ahead to the release of corporate earnings from tech industry behemoths. Futures tied to the Dow Jones Industrial Average rose 59 points, or 0.18%. S&P 500 futures and Nasdaq […]
Florida hedge fund manager pleads guilty to operating multi-million dollar Ponzi scheme
(Hedgeweek) Florida-based hedge fund manager Michael Wayne Williams has pleaded guilty in the Southern District of Ohio to using his company as part of a Ponzi scheme that defrauded investors of millions of dollars over a number of years. To […]
Ex-Point72 President targeting $1bn for new hedge fund
(Hedgeweek) Doug Haynes, a former President at Steve Cohen’s Point72 Asset Management until he resigned in 2018 having been named a defendant in a sexual discrimination lawsuit which was settled in 2020, is looking to raise $1bn for his new […]
