Monthly Archives: November 2020
Stock futures flat in overnight trading following a record-setting rally on promising vaccine news
(CNBC) Stock futures held steady in overnight trading on Monday following a record-setting rally sparked by promising news on a coronavirus vaccine. Futures on the Dow Jones Industrial Average dipped 20 points. S&P 500 futures fell 0.1% and Nasdaq 100 […]
Vaccine news gives a much-needed boost to the economic outlook
(CNBC) The coronavirus and the economy have always been linked tightly, but the relationship took a decidedly positive turn Monday. With the news that Pfizer had seen a more than 90% success rate in its vaccine trials came the first […]
U.S. allows emergency use of Eli Lilly’s Covid antibody therapy
(CNBC) The U.S. Food and Drug Administration on Monday authorized emergency use of Eli Lilly’s experimental Covid-19 antibody treatment for non-hospitalized patients older than 65 or who have certain chronic medical conditions. The FDA said its emergency use authorization (EUA) […]
Theater chains AMC and Cinemark take big third-quarter losses during Covid pandemic
(CNBC) When the third quarter began in July, movie theater auditoriums across the country were empty, shuttered by the coronavirus pandemic. Hope arrived a few weeks later as Warner Bros. announced plans to debut “Tenet” on Labor Day weekend. The […]
Three Traders Settle Fraud Charges in Edgar Hacking Case
(HedgeCo.Net) The Securities and Exchange Commission has announced settlements with Sungjin Cho, Ivan Olefir, and Capyield Systems, Ltd., an entity controlled by Olefir, who were charged with trading on nonpublic corporate earnings information hacked from the SEC’s EDGAR system. According […]
Jeff Bezos, Bill Gates and other tech luminaries react to Biden’s victory
(CNBC) Tech CEOs and Silicon Valley luminaries congratulated President-elect Joe Biden and Vice President-elect Kamala Harris after their victory in the U.S. presidential election Saturday. Amazon CEO Jeff Bezos celebrated Biden and Harris’ win in an Instagram post. Bezos said […]
Political backdrop will help drive stocks to new highs, Federated’s Phil Orlando predicts
(CNBC) A major Wall Street firm just boosted its exposure to stocks. According to Federated Hermes chief equity market strategist Phil Orlando, the firm increased its asset allocation to 3% from 2% hours after Election Day due to a more […]
Dow futures rise 300 points after Biden wins presidency as post-election rally continues
(CNBC) Stocks were set to continue their big post-election rally as futures rose in overnight trading on Sunday. The gains came as Democrat Joe Biden defeated incumbent Donald Trump in the U.S. presidential race to become president elect, according to […]
Warren Buffett’s Berkshire Hathaway bought back a record $9 billion in stock in the third quarter
(CNBC) As the coronavirus pandemic weighs on its operating earnings and stock price, Berkshire Hathaway ramped up its stock repurchasing program even more in the third quarter, nearly doubling the record buyback from the second quarter. Warren Buffett’s conglomerate bought […]
Billionaire Steve Cohen closes takeover of New York Mets
(Reuters) Billionaire hedge fund manager Steve Cohen on Friday completed the purchase of the New York Mets baseball team in a reported $2.4 billion deal, a record for a North American sports franchise. The 64-year-old Cohen, who is a New […]
Elliott Management takes stake in F5 Networks
(Marketwatch) Activist investor Elliott Management Corp. has taken a stake in F5 Networks Inc. and spoken to the software company’s management in recent weeks about ways to boost its lagging stock, according to people familiar with the matter. To read this article:
Dispersion reigns among CTAs as October’s stock market reversal wipes out initial gains
(Hedgeweek) CTAs and managed futures hedge funds gave back their early-month gains during October’s market reversal, but they managed to stay generally flat for the month as equities tumbled to their second consecutive monthly loss. To read this article