Monthly Archives: May 2022
Stock futures rise slightly after Dow’s worst day since 2020
(CNBC) Stock futures were mildly in positive territory in overnight trading Wednesday after the Dow Jones Industrial Average experienced its biggest one-day drop since 2020. Futures on the Dow Jones Industrial Average climbed 44 points, or 0.14%. S&P 500 futures […]
Cisco stock plunges as company forecasts surprising revenue decline
(CNBC) Cisco shares plunged by as much as 17% in extended trading on Wednesday after the networking company said it generated lower quarterly revenue than analysts predicted and called for an unexpected sales decline in the current period. To read […]
Here’s what Walmart, Target, Home Depot tell us about the state of the American consumer
(CNBC) How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a […]
Hasbro slams activist investor’s proposed board directors as proxy battle heats up
(CNBC) Hasbro is going on the offensive against an activist investor wants to add new members to the company’s board and spin off the lucrative unit that includes Dungeons & Dragons. On Wednesday, the toymaker issued a letter to shareholders […]
Allianz Global Investors and Three Former Senior Portfolio Managers Charged with Multibillion Dollar Securities Fraud
(HedgeCo.Net) Allianz Global Investors Agrees to Pay More Than $1 Billion to Resolve SEC Charges. The Securities and Exchange Commission (SEC) has charged Allianz Global Investors U.S. LLC (AGI US) and three former senior portfolio managers with a massive fraudulent […]
Stock futures lower as Wall Street looks to build on recent rebound
(CNBC) U.S. stock futures were lower on Tuesday evening as investors looked to build on a solid rally. Futures for the Dow Jones Industrial Average shed 93 points, or 0.29%. S&P 500 futures sat 0.18% lower while Nasdaq 100 futures […]
US tech stock sell-off continues as hedge funds dump Netflix and Meta
(Hedgeweek) The latest 13-F filings released on Monday (16 May) reveal that hedge funds Tiger Global Management, Winslow Capital Management, and Scopus Asset Management all sold their shares in Netflix prior to the company reporting its first drop in subscriber […]
Powell says the Fed will not hesitate to keep raising rates until inflation comes down
(CNBC) Federal Reserve Chair Jerome Powell emphasized his resolve to get inflation down, saying Tuesday he will back interest rate increases until prices start falling back toward a healthy level. “If that involves moving past broadly understood levels of neutral […]
JPMorgan investors hand Jamie Dimon a rare rebuke with disapproval of $52.6 million bonus
(CNBC) JPMorgan Chase CEO Jamie Dimon was handed a rare rebuke on Tuesday with the shareholder disapproval of his massive retention bonus announced by the bank last year. Just 31% of investors participating in the New York-based bank’s annual shareholder […]
Robinhood to let users hold their own crypto and NFTs as it reaches for growth beyond stock trading
(CNBC) Robinhood is handing over the keys to some of its customers’ crypto. The trading and investing company announced Tuesday it will let users hold and custody their own cryptocurrencies and NFTs in a separate, stand-alone app. It’s the latest […]
Home Depot raises full-year outlook as shoppers trade up to premium products and fuel record Q1 sales
(CNBC) Home Depot on Tuesday raised its full-year outlook and reported strong quarterly earnings, fueled by the company’s strongest first-quarter sales on record, an early signal that the retailer is so far weathering inflation. Home Depot executives said they haven’t […]
SEC Obtains Emergency Relief to Halt Pre-IPO Stock Fraud Scheme by Unregistered Broker-Dealer
(HedgeCo.Net) Defendants, including persons barred from the brokerage industry, allegedly sold shares they didn’t own, and pocketed more than $75 million. The Securities and Exchange Commission has announced that it obtained asset freezes and other emergency relief against StraightPath Venture […]