Monthly Archives: November 2020
JPMorgan Chase pays $250 million penalty over weak controls in its wealth management division
(CNBC) JPMorgan Chase agreed Tuesday to pay a $250 million fine after one of its U.S. regulators found a “pattern of misconduct” in its asset and wealth management division. To read this article:
Dow futures rise 150 points after record day on Wall Street
(CNBC) U.S. stock futures rose on Tuesday night following a banner day for three of the for major market benchmarks. Dow Jones Industrial Average futures traded higher by 150 points, or 0.6%. S&P 500 futures climbed 0.5% and Nasdaq 100 […]
Tesla hits $500 billion market cap for the first time
(CNBC) Tesla finished the trading day Tuesday with a market cap greater than $500 billion for the first time after its stock price surpassed $527.48 per share. Tesla’s enterprise multiple, or its enterprise value relative to EBITDA, exceeded 130 based […]
SEC Charges E-Commerce Startup and CEO With Defrauding Investors
(Hedgeco.Net) The Securities and Exchange Commission has charged a San Francisco-based e-commerce startup and its chief executive officer with misleading investors about purported contracts with well-known consumer brands. According to the SEC’s complaint, from 2018 to 2020, Andrew J. Chapin, […]
JPMorgan’s $150 Billion Unit Taps Hedge Funds for ESG Gains
(Bloomberg) JPMorgan Chase & Co.’s $150 billion alternative asset management arm says it’s found a way to help clients make sustainable investments through hedge funds without sacrificing returns. To read this article:
Ripe for another correction’: US stocks could tumble 12% by year-end as the vaccine-driven rally gets exhausted, Morgan Stanley’s investment chief says
(Business Insider) The S&P 500 could tumble by as much as 12% in one final correction before the end of the year, according to Mike Wilson, Morgan Stanley’s chief investment officer. To read this article:
Markets cheer Yellen pick for Treasury, seeing her focus on fixing the economy and not politics
(CNBC) President-elect Joe Biden’s choice of Janet Yellen as Treasury Secretary was seen as a win for markets, since the former Federal Reserve chair should focus on fixing the economy rather than the progressive Democratic agenda feared by some investors. […]
Hedge fund strategies, in particular L/S Equity, and CTAs, benefit from momentum biases
(Opalesque) Several hedge fund strategies have momentum biases, in particular L/S Equity, and CTAs. Because this rotation took place in a bullish environment, most hedge fund strategies ended the week in positive territory, said Lyxor. To read this article:
Dow futures rise 200 points as Trump administration begins transition process
(CNBC) Stock futures climbed in overnight trading on Monday following a strong session on Wall Street boosted by positive vaccine news. Futures on the Dow Jones Industrial Average gained 200 points. S&P 500 futures rose 0.6% and Nasdaq 100 futures […]
Elliott Advisors proposes to acquire Aryzta,
(Reuters) – Private equity firm Elliott Capital Advisors said on Monday it made a non-binding proposal to Aryzta’s board of directors on Nov. 18 to acquire all outstanding shares of the Swiss frozen baked goods maker, but Aryzta said discussions […]
Apollo-backed SPAC looks to raise $250 million in U.S. IPO
(Reuters) – A blank-check company backed by private equity firm Apollo Global Management Inc is looking to raise $250 million in a U.S. initial public offering, the company said on Monday. Spartan Acquisition Corp. II is aiming to sell 25 […]
March’s market bailout demands regulatory payback
(Reuters) – After the panic comes the bailout. And after the bailout comes the reckoning. In 2008, governments rescued banks and then embarked on a decade-long overhaul to ensure they would never need to do so again. This year’s pandemic-induced […]