Monthly Archives: June 2024
From $40 billion fraud to $4.5 billion settlement: Inside the latest crypto firm paying big bucks to end legal trouble
(CNBC) Months before Sam Bankman-Fried and the FTX fraud was exposed, and years before Binance and its founder, Changpeng Zhao, would admit fault and settle with the U.S. for several billion dollars, Do Kwon was widely regarded as crypto’s top […]
Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosure
(CNBC) Starboard Value, the activist fund run by Jeff Smith, has taken a sizable stake in graphics-design firm Autodesk and has spoken with the company’s board in recent weeks over a number of serious concerns involving its disclosures around an internal investigation that led to […]
Adobe shares surge 15% for sharpest rally since 2020
(CNBC) Adobe shares surged 15% on Friday, the biggest gain since March 2020, after the software maker reported earnings and revenue that beat analysts’ estimates. After the bell on Thursday, Adobe reported adjusted earnings per share of $4.48, topping the LSEG consensus estimate of […]
Fed’s Kashkari says it’s ‘reasonable’ to predict a December rate cut
(CNBC) Minneapolis Federal Reserve President Neel Kashkari on Sunday said it’s a “reasonable prediction” that the U.S. central bank will cut interest rates once this year, waiting until December to do it. “We need to see more evidence to convince […]
Terraform and Kwon to Pay $4.5 Billion Following Fraud Verdict
(HedgeCo.Net) The Securities and Exchange Commission has announced that Terraform Labs PTE, Ltd. and Do Kwon agreed to pay more than $4.5 billion following a unanimous jury verdict holding them liable for orchestrating a years-long fraud involving crypto asset securities […]
Stock futures are mixed after S&P 500 posts fourth consecutive closing record: Live updates
(CNBC) Stock futures were mixed on Friday, following a fresh record close for the S&P 500 and strong quarterly results from Adobe. Futures tied to the broad market index slipped 0.06%, while Nasdaq 100 futures ticked up by 0.21%. Dow Jones Industrial Average futures inched down by […]
Tesla shareholders vote to reinstate Elon Musk’s $56 billion pay package
(CNBC) Tesla shareholders on Thursday voted to ratify CEO Elon Musk’s mammoth 2018 pay plan, five months after a judge in Delaware ordered the company to rescind the package, finding it had been improperly granted by the board. To read this article:
Adobe shares soar 17% on better-than-expected results
(CNBC) The company called for adjusted earnings per share of $4.50 to $4.55 for the fiscal third quarter, with $5.33 billion to $5.38 billion in revenue. Analysts polled by LSEG were looking for $4.48 in adjusted earnings per share and […]
Roaring Kitty’s GameStop stake grows to 9 million shares after selling his big options position
(CNBC) Meme stock champion Keith Gill, known as “Roaring Kitty” online, seemed to increase his ownership in GameStop’s common stock and appears to be holding more than 9 million shares. Gill posted a new screenshot of his E-Trade portfolio on Reddit’s Superstonk […]
Bezos’ Blue Origin joins SpaceX, ULA in winning bids for $5.6 billion Pentagon rocket program
(CNBC) The Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos’ Blue Origin grabbing a spot for the first time. Blue Origin’s winning bid came as part of contracts awarded under the Pentagon’s […]
This fintech configures expense cards to block misuse — and investors just backed it with millions
(CNBC) A startup that uses technology to stop employees from abusing corporate expenses just raised 8 million euros ($8.6 million) of funding from investors, defying a slump in investment for the financial technology industry. CleverCards, a Dublin-based firm, uses a […]
JAG Capital Advisors and its Founder Joshua Goltry Charged with Defrauding Investors
(HedgeCo.Net) The Securities and Exchange Commission has charged Joshua Goltry and his investment management firm, JAG Capital Advisors LLC (JAG Advisors), in connection with a three-year scheme to defraud investors of at least $3 million. According to the SEC’s complaint, […]