Monthly Archives: June 2024
GameStop shares surge as ‘Roaring Kitty’ trader posts account showing $116 million position
(CNBC) Meme stock GameStop is rallying again on speculation Keith Gill, the man who inspired 2021?s epic short squeeze, could currently have a huge position in the video game retailer. Gill, who goes by DeepF——Value on Reddit and Roaring Kitty on YouTube and […]
The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing
(CNBC) VanEck CEO Jan van Eck sees a major sentiment shift underway in the cryptocurrency market linked to the U.S. Securities and Exchange Commission’s approval of a rule change allowing for Ethereum exchange-traded funds. “This is really one of the most […]
Software stocks got pummeled Last week after a cluster of troubling earnings reports
(CNBC) Salesforce executives told investors that deals are shrinking or getting delayed. Dell said its margin is getting smaller. Okta highlighted macroeconomic challenges. And Veeva’s CEO said on his company’s earnings call that generative artificial intelligence has been “a competing priority” for customers. Salesforce shares plunged almost 20% on […]
SEC Charges Police Chief, Four Others in Connection with Insider Trading Before Pharmaceutical Merger
(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against five individuals, including a police chief in Dighton, Massachusetts, arising from trading before the announcement of a tender offer by Alexion Pharmaceuticals Inc. to acquire Portola Pharmaceuticals Inc. […]
Nike posts first earnings miss in three years as lower margins hit sports apparel giant
(CNBC) Nike missed on earnings Thursday for the first time in three years, as the retailer reported lower margins that weighed on profits during its fiscal fourth quarter. Shares dropped more than 4% in extended trading. The stock has fallen […]
Stock futures are little changed as investors await key inflation data: Live updates
(CNBC) U.S. equity futures were little changed on Thursday evening as investors awaited the latest data on personal consumption expenditures, the Federal Reserve’s favored inflation gauge. Futures tied to the Dow Jones Industrial Average inched lower by 26 points, or […]
Fidelity joins the rush for a bitcoin ETF, following BlackRock, Ark Invest and others
(CNBC) Asset management giant Fidelity Investments is again trying to launch a spot bitcoin exchange-traded fund, according to a Thursday filing. The move comes two weeks after BlackRock filed for a spot bitcoin ETF, which has long been opposed by […]
Former Pfizer employee charged with insider trading on unreleased Covid pill data
(CNBC) Federal authorities charged a former Pfizer employee and his close friend Thursday with illegally trading shares based on non-public trial results on the pharmaceutical company’s Covid antiviral pill Paxlovid. The Justice Department and the Securities and Exchange Commission both […]
Compliance chief at Chinese fintech company stole girlfriend’s insider info to trade VMware, tech stocks
(CNBC) The compliance chief at a Chinese payment processor was charged by the U.S. Securities and Exchange Commission and New York federal prosecutors with violating insider trading laws after sneaking onto his girlfriend’s computer to view meetings between investment bankers […]
Federal Reserve says 23 biggest banks weathered severe recession scenario in stress test
(CNBC) All 23 of the U.S. banks included in the Federal Reserve’s annual stress test weathered a severe recession scenario while continuing to lend to consumers and corporations, the regulator said Wednesday. The banks were able to maintain minimum capital […]
3AC liquidators seeking $1.3bn from hedge fund’s founders
(Hedgeweek) The founders of Three Arrows Capital (3AC) are being targeted by liquidators for the bankrupt cryptocurrency hedge fund for the recovery of $1.3 billion, the amount the allegedly racked up in losses prior to last year’s collapse of the […]
Odey AM in talks with SW Mitchell over transfer of Kelton funds
(Hedgeweek) Advanced talks” are ongoing between Odey Asset Management (Odey AM) and SW Mitchell Capital over the transfer of the Oliver Kelton and the funds he previously managed at Odey AM to the London-based European equities investment boutique, according to […]
