Category Archives: Syndicated
FedEx beats quarterly earnings and revenue estimates but cites continued uncertainty of Covid pandemic
(CNBC) FedEx generated better-than-expected profits and revenue during its most recent quarter as the coronavirus pandemic continues to bolster high volume of U.S. and international package deliveries, the company said Thursday. The package delivery service not provide an earnings forecast […]
Bitcoin could see a 25%-30% sell-off in the new year, but it’s still a long-term buy
(CNBC) Bitcoin’s record rally could hit a wall in 2021.Signs in the cryptocurrency’s technical chart point to a 25%-30% sell-off that’s likely to hit early in the new year, Miller Tabak chief market strategist Matt Maley told CNBC’s “Trading Nation” […]
Congress scrambles to finalize Covid relief, avoid shutdown as deadline draws near
(CNBC) Congress tried to put the finishing touches on a coronavirus relief deal Thursday as Washington drew closer to letting the government shut down and allowing millions to lose unemployment benefits. Leaders on Capitol Hill say they have come close […]
Coca-Cola will cut 2,200 jobs worldwide as part of restructuring plan
(CNBC) Coca-Cola will cut about 2,200 jobs in its global workforce as part of a broader restructuring plan that was accelerated by the coronavirus pandemic. In the United States, Coke will use layoffs and buyouts to eliminate about 1,200 jobs, […]
Luckin Coffee Agrees to Pay $180 Million Penalty to Settle Accounting Fraud Charges
(HedgeCo.Net) The Securities and Exchange Commission has charged China-based company Luckin Coffee Inc. with defrauding investors by materially misstating the company’s revenue, expenses, and net operating loss in an effort to falsely appear to achieve rapid growth and increased profitability […]
Global hedge funds industry AUM up $128bn over past eight months despite investor outflows
(Opalesque) Assets under management for the global hedge funds industry have rebounded increasing by US$128.0 billion over the past eight months since March 2020, said Eurekahedge. This has come from performance-driven gains of US$139.8 billion and net investor outflows of […]
Fed raises its economic outlook slightly, sees 4.2% growth next year and 5% unemployment rate
(CNBC) The Federal Reserve dialed up its economic expectations slightly for the end of this year as well as for 2021, according to the central bank’s Summary of Economic Projections released on Wednesday. The central bank now expects real gross […]
Texas and nine other states file new antitrust lawsuit against Google — here’s the full complaint
(CNBC) Google is facing a new antitrust lawsuit from a group of state attorneys general led by Texas, this time targeting its advertising technology services. The lawsuit claims Google unlawfully acquired, attempted to acquire, or maintained a monopoly in several […]
Market winners suggest ‘nobody cares’ fundamentals are rebounding, all-star investor Rich Bernstein says
(CNBC) Institutional Investor Hall of Famer Richard Bernstein sees a risky market dynamic. He’s questioning why so many investors prefer momentum names in technology when the economy is getting ready to boom. “The whole innovation disruption thing is becoming a […]
Stock index giant MSCI to remove some Chinese stocks under U.S. pressure
(CNBC) Global investors are turning cautious on investing in some Chinese companies named in a U.S. government executive order. MSCI, one of the largest stock index companies in the world, announced Tuesday that it would remove 10 Chinese securities from […]
Global macro hedge funds can capitalise on the “looming” economic normalization
(Hedgeweek) Global macro hedge funds from across the emerging market, systematic and discretionary spectrum may be well-placed to capitalise on prevailing equity valuations amid economic “normalisation”, Lyxor Asset Management strategists said this week. To read this article:
The Fed could disappoint markets Wednesday, even if it keeps a super dovish tone
(CNBC) The Fed may see a brighter long-term outlook when it releases its economic forecasts Wednesday due to vaccine developments, but it also has the opportunity to disappoint at least some investors who are expecting immediate changes in its bond […]