Category Archives: Syndicated
Stock futures rise slightly after July’s cooler-than-anticipated consumer inflation reading: Live updates
(CNBC) U.S. stock futures inched up on Thursday night as traders mulled over July’s consumer inflation report and looked ahead to wholesale prices data. Futures linked to the Dow Jones Industrial Average rose by 38 points, or 0.1%. S&P 500 […]
Hedge funds bet against EVs, AI and luxury goods
(Hedgeweek) Electric vehicle (EV) maker Tesla, Gucci owner Kering, and Japanese chip manufacturer Advantest are among the large-cap stocks with the highest percentage of funds betting against them, according to a data from Hazeltree, a provider of treasury services to […]
Coach owner Tapestry to acquire Michael Kors, Jimmy Choo parent Capri Holdings for $8.5 billion
(CNBC) Tapestry, the fashion conglomerate behind Coach and Kate Spade, will acquire competitor Capri Holdings in a $8.5 billion deal announced Thursday. The transaction will create an American fashion giant that — while still not quite as large as its […]
Saba’s flagship fund down YTD despite stock rally
(Hedgeweek) Saba Capital Management, the hedge fund firm founded by Boaz Weinstein, has seen its flagship hedge fund rack up losses of 7.7% so far this year after bearish bets backfired amid the recent stock market rally, according to a […]
Wegovy-maker Novo Nordisk sales soar 30% on strong demand for its weight-loss drug
(CNBC) Novo Nordisk, which makes the weight-loss drug Wegovy, raised its outlook for 2023 Thursday, as it reported soaring sales. The Danish pharmaceutical company reported a 30% increase in sales (at constant exchange rates) for the first half of this […]
Disney posts mixed results for quarter plagued by streaming woes, restructuring costs
(CNBC) Disney posted mixed results for its fiscal third quarter, Subscriber losses continued over the last three months, with the company reporting 146.1 million Disney+ subscribers during the most recent quarter, a 7.4% decline from the previous quarter and a […]
Thursday’s inflation data may be low, but don’t expect the Fed to declare ‘mission accomplished’ yet
(CNBC) Thursday’s consumer price index report likely will show that the pace of price increases is easing, but not enough to get the Federal Reserve to retreat on its inflation fight. If the Wall Street consensus as gauged by Dow […]
‘Blatant economic coercion’: China slams Biden’s order limiting U.S. overseas tech investment
(CNBC) China sharply rebuked President Joe Biden’s long-awaited executive order that limits U.S. investment in technology — but stopped short of issuing immediate counter measures. The Chinese commerce and foreign affairs ministries issued strong responses on Thursday, just hours after […]
Rokos macro fund level for 2023 after 3.7% July gain
(Hedgeweek) Rokos Capital Management’s macro hedge fund, which is one of the world’s biggest with $14bn in assets, has fully recouped the losses it suffered earlier in the year having racked up a gain of 3.7% in July, according to […]
Viking to reopen flagship hedge fund after a decade
(Hedgeweek) Viking Global Investors, US-based hedge fund founded by ‘Tiger Cub’ Ole Andreas Halvorsen in 1999, has reopened its flagship long/short hedge fund to new capital after being closed for over a decade, according to a report by Reuters. To […]
Roblox shares drop 21% after company misses estimates on top and bottom line
(CNBC) Shares of Roblox closed down more than 21% Wednesday after the company reported second-quarter results that missed analysts’ expectations on top and bottom lines. Here’s how the company did: Loss per share: 46 cents loss vs. 45 cents loss per share expected, […]
PayPal Tries to drag 435 million users into the $120 billion stablecoin market — here’s why
(CNBC) PayPal this week became the first major U.S. fintech company to offer its own crypto token with a dollar-pegged stablecoin known as PayPal USD, making big promises of how it can move money between millions of crypto investors. The […]