Monthly Archives: August 2022
Elliot exited Twitter prior to Musk’s decision to back out of deal
(Hedgeweek) Elliot Management, an activist hedge fund that pushed for change at Twitter two years ago, exited its holding completely during Q2 of this year, after Elon Musk agreed a $44 billion takeover deal for the social media giant in […]
Crypto broker Genesis slashes 20% of workforce and announces CEO exit after loans soured
(CNBC) Digital asset brokerage Genesis said on Wednesday that CEO Michael Moro is stepping down and the company is slashing 20% of its workforce, the latest casualties as the cryptocurrency market unwinds. Derar Islim, Genesis’ operating chief, will take over […]
Cisco tops estimates on revenue and profit and gives optimistic annual sales forecast
(CNBC) Cisco issued fiscal fourth-quarter results on Wednesday that topped analysts’ projections and provided a better-than-expected forecast for the coming year. The stock rose about 4.5% in extended trading. To read this article:
Fed sees interest rate hikes continuing until inflation eases substantially
(CNBC) Federal Reserve officials at their July meeting indicated they likely would not consider pulling back on interest rate hikes until inflation came down substantially, according to minutes from the session released Wednesday. During a meeting in which the central […]
Stock futures continue flat run after Dow snaps five-day winning streak
(CNBC) Stock market futures were mostly flat early Thursday morning after the Dow snapped a five-day winning streak and the recent rally fades. Futures contracts tied to the Dow Jones Industrial Average were 10 points lower. S&P 500 futures were […]
Target’s earnings take a huge hit as retailer sells off unwanted inventory
(CNBC) Target on Wednesday said its quarterly profit fell nearly 90% from a year ago, as the retailer followed through on its warning that steep markdowns on unwanted merchandise would weigh on its bottom line. The big-box retailer missed Wall […]
SEC Charges Eagle Bancorp and Former CEO with Failing to Disclose $90 Million in Party Loans
(HedgeCo.Net) The Securities and Exchange Commission has charged Eagle Bancorp, Inc., based in Bethesda, Maryland, and its former Chief Executive Officer and Chairman of the Board, Ronald D. Paul, with negligently making false and misleading statements about related party loans […]
Stock futures are flat after Dow notches five-day win streak
(CNBC) Stock futures were mostly flat on Wednesday morning after two of the country’s big box chains, Walmart and Home Depot, pushed the Dow and S&P 500 higher and set the stage for more retail earnings this week. Futures tied […]
Wall Street analysts are betting on another red-hot commodity rally before year-end
(CNBC) Although commodity prices could fall further in the event of a deep recession for the global economy, UBS GWM Chief Investment Officer Mark Haefele and his team suggested a “soft landing” is now as likely as a pronounced slowdown. […]
Loeb’s Third Point reveals $1bn Disney stake
(Hedgeweek) Third Point, the hedge fund run by Daniel Loeb, has disclosed a $1 billion stake in Disney and is pushing for a spin-off of the entertainment giant’s sports network ESPN, according to a report by Reuters. To read this […]
Dragonfly acquires crypto hedge fund MetaStable Capital
(Hedgeweek) Dragonfly, a venture capital firm focused on the cryptocurrency and digital assets space, has acquired crypto hedge fund MetaStable Capital, as it looks to expand its web3 strategy, according to a report by NFTGators. Financial terms of the transaction have […]
$41bn outflows and $37bn performance based decline reduce hedge fund AUM to $4.02tn in H1
(Opalesque) Eurekahedge reported that hedge fund AUM has declined by $78.8bn during the first six months of 2022, driven by $37.7bn of performance-based decline and $41.1bn of net outflows. The industry total stands at $4.02tn at the end of H1. […]
