Monthly Archives: May 2024
Reddit shares soar 14% after company reports revenue pop in debut earnings report
(CNBC) Reddit shares rallied 14% in extended trading on Tuesday after the company released quarterly results for the first time since its IPO in March. Revenue climbed 48% from $163.7 million a year earlier. The company reported $222.7 million in ad revenue […]
Disney says streaming is nearly breakeven, but shares sink 10% on soft guidance
(CNBC) Disney reported fiscal second-quarter earnings Tuesday that beat analyst estimates after narrowing streaming losses. Disney’s total segment operating income jumped 17% as the company’s entertainment streaming applications — Disney+ and Hulu — turned a profit in the quarter for the […]
U.S. revokes some export licenses to sell chips to Huawei in a bid to curb China’s tech power
(CNBC) The US continuously assess how our controls can best protect our national security and foreign policy interests, taking into consideration a constantly changing threat environment and technological landscape,” a Commerce spokesperson said in a statement. “As part of this […]
MFA makes recommendations to CFTC on the use of AI tools in derivatives markets
(Hedgeweek) MFA has submitted a comment letter to the Commodity Futures Trading Commission (CFTC), making recommendations on how the commission should approach the use of artificial intelligence tools in derivatives markets. To read this article:
China imposes tighter hedge fund rules
(Hedgeweek) The Asset Management Association of China (AMAC) has published tighter rules for the country’s hedge fund sector, including an increase in the minimum asset threshold as well as new restrictions on the use of derivatives and leverage, according to […]
Stock futures are little changed after Dow posts four-day win streak: Live updates
(CNBC) U.S. stock futures flickered near the flatline Monday evening after the Dow Jones Industrial Average wrapped its fourth positive day in a row. Dow futures were down 4 points, or 0.01%. S&P 500 futures ticked lower by 0.02%, while Nasdaq 100 futures slipped 0.04%. To read […]
Audit Firm BF Borgers and Its Owner Charged with Massive Fraud Affecting 1,500 SEC Filings
(HedgeCo.Net) The Securities and Exchange Commission has charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers (together, “Respondents”), with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits […]
UBS swings back to profit and smashes earnings expectations for the first quarter
(CNBC) UBS on Tuesday reported a net profit of $1.8 billion for the first quarter of the year, smashing analyst expectations. It is the Swiss banking giant’s first earnings report in the black since it completed the acquisition of fallen rival Credit Suisse in […]
Disney quarterly results are on deck. Here’s what to expect
(CNBC) Disney reports its fiscal second-quarter earnings before the bell Tuesday, and analysts will be paying attention to the company’s streaming subscriber growth and outlook, as well as visitation numbers at its theme parks. It’s been more than a year since […]
Asset management industry AUM rises by 12% in 2023 to $120tn, even as profits fall by 8.1%
(Opalesque) The global asset management industry is showing some signs of recovery in 2023, with total assets under management rising 12% year-over-year to nearly $120 trillion, revealed a study. According to research by Boston Consulting Group, the industry’s revenues increased […]
Clear Street makes senior hires in prime brokerage business
(Hedgeweek) New York-based diversified financial services firm Clear Street has made several senior-level hires within the prime brokerage business of its institutional division, expanding its derivatives, algorithmic and cap intro teams. To read this article:
Basis trade boosts Exodus Point Q1 performance
(Hedgeweek) A bond market basis trade that has attracted the attention of regulators concerned about financial stability risks has helped hedge fund Exodus Point to chalk up a gain of around 2% for the year to the end of March, […]