Monthly Archives: May 2022
Lyft shares plunge on light guidance, continued driver incentives
(CNBC) Shares of Lyft lost more than a quarter of their value in after-hours trading Tuesday after the company provided light second-quarter guidance and warned investors it will have to keep spending on driver incentives. To read this article:
SEC Charges CEO and President of Synergy Settlement Services with Fraudulent Operation of Special Needs Pooled Trusts
(HedgeCo.Net) Defendants allegedly used funds from deceased beneficiaries’ accounts on golf tournaments and beach parties. The Securities and Exchange Commission has announced fraud charges against Synergy Settlement Services, Inc., CEO Jason D. Lazarus, Esq., both based in Orlando, FL, and […]
Hedge fund Citadel posts gains in April as markets fell
(Reuters) Hedge fund Citadel avoided April’s stock market drop and posted gains in its most prominent strategies, easily besting the average hedge fund returns which were in the red last month. Ken Griffin’s Citadel told investors that its multi-strategy flagship […]
Citadel Securities founder Griffin likens crypto value to abstract art
(Reuters) Ken Griffin, the billionaire founder of Citadel Securities, one of the world’s biggest market-making firms, said on Monday he envisions the company entering the cryptocurrency market as a combination of a liquidity provider and an exchange. To read this […]
Investors reposition for a possible recession
(Opalesque) Recession fears are growing among institutional investors, according to the latest CIO letter from UBS O’Connor. According to O’Connor CIO Kevin Russell, institutional investors have largely priced in the risks from the war in Ukraine and are now considering […]
Fears of a Fed mistake grow as this week’s anticipated interest rate hike looms
(CNBC) The Federal Reserve is tasked with slowing the U.S. economy enough to control inflation but not so much that it tips into recession. Financial markets expect the central bank on Wednesday to announce a half-percentage point increase in the […]
Stock futures are lower after big market reversal to start May
(CNBC) U.S. stock futures moved lower Monday night after the major averages staged a big reversal to start the month. Dow Jones Industrial Average futures fell 57 points, or 0.2%. S&P 500 and Nasdaq 100 futures dipped 0.2% and 0.3%, […]
Australia hikes its interest rate for the first time in more than a decade
(CNBC) Australia hiked its interest rate for the first time in more than a decade, a widely expected move as consumer prices surge. Its central bank said Tuesday that the cash rate will be increased by 25 basis points to […]
Bubble’ hitting 50% of market, top investor warns as Fed gets ready to meet
(CNBC) The market may be in the early innings of a dramatic decline. Despite Monday’s tech comeback, money manager Dan Suzuki of Richard Bernstein Advisors warns the group is in a “bubble.” “Go back and look at the history of […]
Promoters of “Automated Cryptocurrency Fund” Charged with Fraud and Registration Violations
(HedgeCo.Net) The Securities and Exchange Commission has charged Block Bits Capital, LLC, Block Bits Capital GP I, LLC and their co-founders Japheth Dillman and David Mata, with conducting a fraudulent unregistered securities offering. The SEC alleges that the San Francisco-based […]
Berkshire bought $51 billion in stock as Buffett combats supply chain
(Reuters) Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) dove into equity markets in the first quarter, spending more than $51 billion on stocks including a much larger stake in Chevron Corp (CVX.N). Berkshire, which Buffett has run since 1965, also said […]
The Fed’s favorite inflation gauge rose 5.2% in March as worker pay fell further behind
(CNBC) A measure that the Federal Reserve focuses on to gauge inflation rose in March, likely cementing the central bank’s intention to hike interest rates by half a percentage in May. The core personal consumption expenditures price index, which measures […]