Monthly Archives: August 2024
China-based QZ Asset Management Ltd. and its CEO Charged in Pre-IPO Fraud Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against China-based investment adviser QZ Asset Management Limited a/k/a Qianze Asset Management Limited (QZ Asset), its South Dakota-based holding company QZ Global Limited, and the CEO of both entities, Blake Yeung […]
S&P 500 futures climb as traders brace for key inflation report: Live updates
(CNBC) S&P 500 futures climbed Friday morning as investors prepared for a crucial inflation reading that’s closely watched by the Federal Reserve. Futures linked to the broad market index ticked up by 0.24%, while Nasdaq 100 futures added 0.43%. Dow Jones Industrial […]
Dell beats estimates as server sales soar 80%, riding AI wave
(CNBC) Net income climbed 85% to $841 million, or $1.17 per share, from $455 million, or 63 cents per share, in the year-ago period. Revenue increased about 9% from $22.93 billion a year ago. The stock took a leg lower […]
The Fed’s preferred inflation indicator is out Friday. Here’s what to expect
(CNBC) The Commerce Department at 8:30 a.m. ET will release its personal consumption expenditures price index, a sprawling measure of what consumers are paying for a variety of goods and services as well as their spending preferences. While the Fed uses […]
Amazon ousts Microsoft as top hedge fund stock pick in Q2
(Hedgeweek) Amazon.com Inc (AMZN) overtook Microsoft as the most favoured stock pick among hedge funds by the end of the second quarter, with 411 funds holding positions in the online retail giant as of 30 June, according to a report […]
Asset managers prioritize AI adoption
(Opalesque) As asset managers increasingly leverage data analytics to better understand advisor preferences and opportunities, artificial intelligence (AI) continues to gain momentum as a tool to enhance segmentation and coverage strategy. According to The Cerulli Report-U.S. Intermediary Distribution 2024, more […]
U.S. asset managers cautious on AI deployment
(Opalesque) Despite the buzz around GenAI, asset managers in the U.S. are proceeding cautiously – forty percent are in the conceptual phase, 25% are developing capabilities, and nearly a third haven’t started, according to a study. Less than 5% have […]
Zodia Custody launches institutional ADA staking
(Hedgeweek) Zodia Custody, an institution-first digital asset custodian whose shareholders include Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, has launched support for Cardano staking. To read this article:
Nvidia’s earnings report shows the problem of being priced for perfection
(CNBC) Nvidia reported its fourth-straight quarter of triple-digit revenue growth on Wednesday, sailing past estimates on the top and bottom line while also issuing a forecast that topped Wall Street expectations. The company even bolstered its buyback program with a plan to repurchase $50 billion […]
Salesforce beats earnings estimates, CFO Amy Weaver to step down
(CNBC) Salesforce shares rose 4% in extended trading on Wednesday after the business software maker reported robust fiscal second-quarter results that beat estimates and raised its full-year profit outlook. The company also said Amy Weaver, its chief financial officer, will step down. She […]
Sound Point pays $1.8m to settle SEC charges
(Hedgeweek) Sound Point Capital Management has agreed to pay $1.8m to settle SEC charges that it failed to establish, maintain and enforce written policies and procedures for handling material nonpublic information in its trades of collateralised loan obligations. To read […]
Citadel set to break ground on $1bn Miami skyscraper for new HQ
(CNBC) Ken Griffin is gearing up to break ground on the construction of a new $1bn-plus, 54-storey skyscraper in Miami next year, which will serve as the new headquarters for both his multi-strategy hedge fund firm Citadel and market-making business […]
