Monthly Archives: January 2024
Alphabet, Microsoft and Meta close at all-time highs ahead of earnings next week
(CNBC) Shares of Alphabet rose 2.1% to close at $151.87. Microsoft rose 0.6% to $404.87, closing with a market cap over $3 trillion. Meta gained 0.6% to $393.18. Apple remains slightly below its high from December. The rally comes ahead […]
Pictet’s wealth management unit cuts hedge fund holdings
Hedgeweek) A belief that fewer alternative asset managers will better the returns of traditional equities and bond investments this year has prompted a reduction in client hedge fund holdings at Pictet’s wealth management unit, according to a report by Reuters. […]
Tesla shares close down 12% after automaker warns of slowdown
(CNBC) Tesla shares closed down 12% Thursday, their biggest drop in over a year, a day after the company reported earnings that missed expectations and warned of a slowdown in 2024. Tesla’s automotive revenue, a closely watched metric, totaled $21.6 […]
JPMorgan Chase shuffles top leaders as race to succeed Jamie Dimon drags on
(CNBC) JPMorgan Chase on Thursday said several executives considered frontrunners to one day take over for CEO Jamie Dimon had new or expanded roles. Jennifer Piepszak, co-head of JPMorgan’s giant consumer bank, will now became co-head of the firm’s commercial […]
Thursday’s GDP report expected to show the U.S. economy at a crossroads
(CNBC) The consensus outlook for the fourth quarter is that gross domestic product grew at a 2% seasonally adjusted annualized pace, sliding downward from the 4.9% in Q3 and the lowest reading since the 0.6% decline in the second quarter […]
China tells hedge funds to cut short selling of stock index futures
(Hedgeweek) China’s securities regulators have asked a number of hedge fund managers to restrict short selling of stock index futures as part of wider plans to stabilise the country’s declining markets, according to a report by Reuters. To read this […]
Hedge fund billionaire Bill Ackman buys nearly 5% stake in Tel Aviv Stock Exchange
(CNBC) The announcement came as the Israeli exchange announced the pricing of a secondary offering of 17,156,677 shares, or 18.5% of its market value, priced at 20.60 shekels ($5.50) per share, putting Ackman and his wife’s purchase at about $25 […]
Tesla shares drop 6% on weak auto revenue, warning of slower growth in 2024
(CNBC) Tesla reported revenue and profit for the fourth quarter that missed analysts’ estimates as automotive revenue increased just 1% from a year earlier. The stock slid almost 6% in extended trading. To read this article:
Meta passes $1 trillion in market cap
(CNBC) Meta last exceeded $1 trillion in market cap in 2021, when it was still known as Facebook. It was the company’s first time hitting the milestone. In September 2021, its market cap approached $1.1 trillion. The company’s soaring stock […]
Judge refused to let Binance founder Zhao travel to UAE despite his offer to use equity as security
(CNBC) A federal judge has rejected a request by Binance founder Changpeng “CZ” Zhao to travel to his home in the United Arab Emirates for the “hospitalization and surgery” of a person in his life even though he offered to […]
IBM shares rise after earnings top estimates in ‘uncertain, volatile’ economy
(CNBC) IBM’s revenue increased 4% year over year in the quarter, according to a statement. Net income, at $3.29 billion, or $3.55 per share, increased from $2.71 billion, or $2.96 per share, in the year-ago quarter. The company confronted “a […]
Nasdaq 100 futures rise after Netflix posts subscriber jump:
(CNBC) Futures tied to the tech-heavy Nasdaq 100 climbed Wednesday morning after Netflix reported its subscriber count reached a new record in the fourth quarter. Nasdaq 100 futures rose 0.34%, while S&P 500 futures gained 0.21%. Dow Jones Industrial Average […]
