Category Archives: Syndicated
Walmart lays off corporate employees after slashing forecast
(CNBC) Walmart has begun to lay off corporate employees, the company confirmed Wednesday, about a week after it slashed its profit outlook and warned that consumers had pulled back on discretionary spending due to inflation. In a statement to CNBC, […]
Hedge funds heading for second worst year of performance on record
(Hedgeweek) Hedge funds are heading for one of their worst years of performance on record, with many managers having failed to protect investors from sharp falls in equity and bond markets, according to a report by The Financial Times. To […]
Robinhood’s Tenev says the retail brokerage firm is not interested in selling itself despite struggles
(CNBC) Robinhood CEO Vlad Tenev said Wednesday that the retail brokerage is not looking to be acquired despite announcing major layoffs after another quarter of shrinking active users. “In one word: No,” Tenev said on an investor call when asked […]
Stocks rally to reverse two-day slide, surging on rosy earnings results and economic data
(CNBC) U.S. stocks rallied Wednesday, clawing back losses from earlier in the week, as traders cheered better-than-expected economic data that helped allay recession fears. The Dow Jones Industrial Average rose 416.33 points, or 1.29%, to 32,812.50. The S&P 500 gained […]
Man Group posts weak investment inflows, but alts funds soften the blow
(Opalesque) British hedge fund manager Man Group reported a drop in assets over the first half as its Long-only funds were pummelled in a volatile market environment. The world’s largest publicly traded hedge fund, which manages $142.3bn in assets, posted […]
Hedge fund manager Steve Cohen exits crypto trading firm Radkl
Hedgeweek) Steve Cohen, founder of hedge fund Point72 Asset Management has exited his investment in cryptocurrency trading startup Radkl, according to a report by Bloomberg. To read this article:
Fraud trial of former Platinum hedge fund manager gets underway in Brooklyn
(Hedgeweek) The trial of former Platinum Partners portfolio manager Daniel Small for fraud got underway in Brooklyn on Monday, with the jury hearing from the prosecution how the defendant was involved in a scam against one of the now defunct hedge […]
Dow futures gain slightly after the three major averages notched a second day of losses
(CNBC) Dow Jones Industrial Average futures were higher on Wednesday morning after the three major averages fell for a second consecutive day. Futures tied to the Dow added 89 points, or 0.27%. S&P 500 futures gained 0.2% and Nasdaq 100 […]
PayPal jumps as Elliott Management says it has a $2 billion holding in the financial services company
(CNBC) PayPal shares rose as much as 13% in extended trading on Tuesday after the financial services firm issued stronger-than-expected second-quarter results. During its earnings presentation, PayPal said it had entered into an information-sharing agreement on value creation with Elliott […]
Bankrupt crypto lending platform Celsius is trying to hire its CFO back at $92,000 a month
(CNBC) Embattled lending platform Celsius wants to bring back ex-CFO Rod Bolger and pay him about $92,000 a month, prorated over a period of at least six weeks. The embattled lender says it needs Bolger to help it navigate bankruptcy […]
Alibaba could see first revenue decline on record but analysts expect sales recovery later this year
(CNBC) Alibaba’s revenue could decline for the first time on record when it reports June quarter earnings on Thursday, analysts forecast, though it could signal the bottom for sales. The Chinese e-commerce giant is expected to report fiscal first-quarter revenue […]
Ackman wants to see carried interest tax ‘loophole’ closed
(Hedgeweek) Pershing Square Capital Management CEO Bill Ackman is backing the closure of a ‘loophole’ that allows private equity and hedge fund managers to reduce the rate of tax they pay on their fund investment profits, according to a report […]