Monthly Archives: March 2024
Larry Ellison is $15 billion richer after Oracle’s best day on stock market since 2021
(CNBC) Larry Ellison notched a $15 billion gain on Tuesday after shares of his software company had their best day in over two years and closed at a record. Ellison, who started Oracle in 1977, remains the company’s biggest shareholder […]
IBM is slashing jobs in marketing and communications
(CNBC) In December, IBM CEO Arvind Krishna indicated the company was “massively upskilling all of our employees on AI,” after it announced a plan in August to replace nearly 8,000 jobs with AI. IBM said on its earnings call in […]
Digital assets funds see record $2.7bn weekly inflows
(Hedgeweek) Digital asset investment products saw record weekly inflows totalling $2.7bn last week, bringing total inflow year-to-date to $10.3bn, just shy of the record $10.6bn inflows for the whole of 2021, according to the latest weekly fund flows report from […]
Stock futures inch up as all eyes are on key inflation reading: Live updates
(CNBC) Stock futures rose slightly early Tuesday as investors await a key inflation report that could inform the path of the Federal Reserve’s monetary policy. Futures on the Dow Jones Industrial Average gained 54 points, or 0.14%. S&P 500 futures […]
A key inflation reading is due out Tuesday morning. Here’s what to expect
(CNBC) Rising gasoline prices likely put a floor under inflation in February, potentially reinforcing the Federal Reserve’s decision to take a go-slow approach with interest rate reductions. Economists expect that prices across a broad spectrum of goods and services rose […]
JPMorgan’s Dimon urges US Fed to wait past June before cutting rates
(CNBC) JPMorgan CEO Jamie Dimon on Tuesday urged the Federal Reserve to wait past June before cutting interest rates, arguing the central bank needs to shore up its inflation-fighting credibility. “I think they have to be data-dependent. If I were them, I would […]
Oracle shares soar 13% on better-than-expected quarterly earnings
(CNBC) For the fiscal fourth quarter, Oracle said it expects earnings of $1.62 to $1.66 per share. Analysts were expecting $1.64 in adjusted earnings per share, according to LSEG. Revenue growth will be between 4% and 6% over sales of […]
Sylebra Capital chalks 22% gain on SPAC shorts
(Hedgeweek) A series of bets against tech firms that went public via special purpose acquisition companies (SPACs) have helped Sylebra Capital, a tech-focused hedge fund founded by ex-Coatue Management Partner Daniel Gibson, chalk up a 22% gain so far this […]
Elliott pulls plug on Currys bid
(Hedgeweek) Elliott Investment Management, the US activist hedge fund firm funded by Paul Singer, has withdrawn its unsolicited offer to acquire Currys after the UK-based electrical and electronics retailer rejected two bids. To read this article:
Stock futures fall slightly after Dow’s worst week since October: Live updates
(CNBC) U.S. stock futures fell slightly Sunday night after the Dow Jones Industrial Average closed out its worst week since October. Investors are also looking ahead to inflation data due out later this week. Dow Jones Industrial Average futures dipped […]
Nvidia is sued by authors over AI use of copyrighted works
(CNBC) Nvidia whose chips power artificial intelligence, has been sued by three authors who said it used their copyrighted books without permission to train its NeMo AI platform. Brian Keene, Abdi Nazemian and Stewart O’Nan said their works were part of a […]
Equity and crypto hedge fund lead industry gains in February
(Hedgeweek) Hedge funds surged in February, with technology, AI and cryptocurrency exposures leading broad-based gains across all strategies and extending the industry’s four-month return to 8.75%, the strongest seen since the four-month period ending March 2021. To read this article:
