Monthly Archives: May 2023
Microsoft warns that China hackers attacked U.S. infrastructure
(CNBC) Microsoft warned on Wednesday that Chinese state-sponsored hackers had compromised “critical” U.S. cyber infrastructure across numerous industries with a focus on gathering intelligence. The Chinese hacking group, codenamed “Volt Typhoon,” has operated since mid-2021, Microsoft said in an advisory. […]
Nvidia shares spike 26% on huge forecast beat driven by A.I. chip demand
(CNBC) Nvidia reported first-quarter earnings for its fiscal 2024 on Wednesday, with a stronger-than-expected forecast that drove shares up 26% in extended trading. Here’s how the company did versus Refinitiv consensus estimates for the quarter ended in April: EPS: $1.09, […]
Dow futures slip as Fitch places United States’ AAA rating on negative watch: Live updates
(CNBC) Dow futures slipped Wednesday night after Fitch Ratings placed the United States’ AAA rating on a negative rating watch. Meanwhile, Nasdaq 100 futures rallied after a strong earnings beat from Nvidia. Dow Jones Industrial Average futures fell 60 points, […]
Debt ceiling talks make progress, but House will leave town with no deal
(CNBC) House Speaker Kevin McCarthy said Wednesday that negotiations over raising the U.S. debt limit were progressing toward a deal despite disagreements over spending, with only eight days before the government could face an unprecedented default. That urgency became more […]
Meta has started its latest round of layoffs, focusing on business groups
(CNBC) The latest round of cuts targets members of Meta’s business groups and follows a previous round of layoffs in April that affected employees in technical roles. About 10,000 workers will lose their jobs between the April and May cuts, […]
Hedge funds turn bullish on SOFR futures
(Hedgeweek) In preparation for an anticipated end to the US Federal Reserve’s programme of interest rate hikes, hedge funds are going long on short-term interest-rate futures tied to the Secured Overnight Financing Rate (SOFR), according to a report by Bloomberg. […]
Despite poor guidance, Snowflake CEO says he is optimistic about the future
(CNBC) After an earnings report that saw a beat on revenue but poor guidance, CEO of data cloud company Snowflake Frank Slootman was firm in his optimism about the company’s future. “If you were to zoom out a little bit […]
SEC Shuts Down WeedGenics $60 Million Cannabis Offering Fraud
(HedgeCo.Net) The Securities and Exchange Commission obtained an emergency order to halt an alleged ongoing offering fraud and Ponzi-like scheme by Integrated National Resources Inc. (INR), which does business as WeedGenics, and its owners, Rolf Max Hirschmann and Patrick Earl […]
Apple announces multibillion-dollar deal with Broadcom for U.S.-made chips
(CNBC) Apple on has announced a new multibillion-dollar deal with Broadcom to develop 5G radio frequency components in the U.S. “We’re thrilled to make commitments that harness the ingenuity, creativity, and innovative spirit of American manufacturing,” Apple CEO Tim Cook […]
Hedge fund Standard General pulls plug on TV deal
(Hedgeweek) Hedge fund Standard General has terminated its acquisition agreement with US TV station operator Tegna, which manages 64 TV stations in 51 US markets, after failing to overcome a number of regulatory hurdles, according to a report by The […]
Stock futures are little changed as investors eye debt ceiling clash in Washington: Live updates
(CNBC) U.S. stock futures were all higher on Wednesday mornings as investors kept an eye on debt-ceiling negotiations. Futures linked to the Dow Jones Industrial Average rose by 46 points, or 0.14%. S&P 500 futures inched higher by 0.16%, and […]
Republicans question June 1 debt ceiling deadline as talks zero in on potential trade-offs
(CNBC) A significant group of House Republicans raised questions Tuesday about whether the Treasury Department’s June 1 deadline to avoid a potential U.S. debt default was accurate. “We’d like to see more transparency on how they come to that date,” […]