Monthly Archives: February 2024
Cloudflare stock jumps 21% on earnings beat as the company wins larger deals
(CNBC) Cloudflare’s revenue rose about 32%, consistent with growth in the third quarter, according to a statement. The company’s net loss of $27.9 million, or 8 cents per share, narrowed from $45.9 million in the year-ago quarter. To read this […]
U.S. lawmakers accuse five VC firms of investing $3 billion in Chinese companies linked to military activities
(CNBC) Sequoia Capital China, Qualcomm Ventures and three other venture capital firms plowed at least $3 billion into Chinese tech companies that support Beijing’s military and its repression of minorities in Xinjiang, a U.S. congressional report alleged on Thursday. To […]
Hedge fund billionaire Bill Ackman to launch a NYSE-listed fund for regular investors
(CNBC) Pershing Square’s Bill Ackman is set to offer a closed end fund, investing in 12 to 24 large-cap, investment grade, “durable growth” companies in North America, according to a regulatory filing. There will be no minimum investment. To read this article:
Disney beats earnings estimates, hikes guidance as it slashes streaming losses
(CNBC) Disney said it is on pace to meet or exceed its goal of cutting costs by at least $7.5 billion by the end of fiscal 2024. The company said it expects fiscal 2024 earnings per share of about $4.60, […]
SoftBank nets $16 billion on Arm earnings pop, exceeding its total losses in WeWork
(CNBC) Arm shares rocketed as much as 41% late Wednesday after the chip designer reported revenue and earnings that sailed past analysts’ estimates. SoftBank took Arm public in September and still owns about 930 million shares, or roughly 90% of […]
SEC faces challenge in implementing fee disclosure regulation
(Hedgeweek) The US Securities and Exchange Commission (SEC) is facing a legal challenge to its latest set of rules, which require hedge funds and private equity firms to detail quarterly fees and expenses to investors, according to a report by […]
PayPal issues disappointing guidance even as fourth-quarter earnings top estimates
(CNBC) Revenue increased 9% in the quarter from $7.38 billion a year earlier. The number of active accounts fell 2% to 426 million, trailing analyst expectations of 427.17 million, according to Street Account. Net income rose 52% to $1.4 billion, […]
Years of poor returns see investor dump equity long-short hedge funds
(Hedgeweek) Equity long-short hedge funds have seen nearly $150bn in client withdrawals over the past five years as investors have lost faith in their ability to capitalise on bull markets and protect cash during market downturns, according to a report […]
Activist hedge fund Vision One pushing for Kohl’s sale
(Hedgeweek) Vision One Management Partners, an activist hedge fund firm co-founded by former Canadian Prime Minister Stephen Harper and Carl Icahn protégé Courtney Mather, wants US department store operator Kohl’s to put itself up for sale, according to a report […]
Stock futures are little changed as investors parse fresh quarterly results: Live updates
(CNBC) Stock futures were little changed on Tuesday, as investors parse through another slate of quarterly results halfway through the corporate earnings season.Futures tied to the Dow Jones Industrial Average rose 13 points, or 0.03%. S&P 500 futures, as well […]
New York Community Bancorp stock value set to halve, as Moody’s cuts ratings
(CNBC) Shares of New York Community Bancorp lost 22% on Tuesday, extending a sell-off since the lender reported a surprise quarterly loss last week, as Moody’s downgraded its long-term debt ratings to junk status. The stock closed at $4.20 and […]
Hedge funds positioned to profit from further US regional banking turmoil
(Hedgeweek) Global hedge funds were positioned to profit from last week’s plunge in US regional banking stocks, according to a report by Reuters citing a JPMorgan prime brokerage note to clients. To read this article: