Monthly Archives: September 2023
Stock futures are little changed on Thursday evening: Live updates
(CNBC) Stock futures were flat in overnight trading Thursday after markets rallied on the back of the latest IPO debut. Futures connected to the Dow Jones Industrial Average added 32 points, or 0.09%. S&P 500 futures and Nasdaq-100 futures hovered […]
Connecticut Advisory Firm GlennCap and its Owner Charged with Cherry-Picking
(HedgeCo.Net) The Securities and Exchange Commission has settled fraud charges against GlennCap LLC, a Connecticut-based investment advisory firm, and its owner, Jonathan Vincent Glenn, for allocating profitable securities trades to favored accounts, including GlennCap’s own accounts and client accounts that […]
GM sweetens UAW offer to include 20% wage increase, other benefits as it tries to avoid strike
(CNBC) The proposal, which GM CEO Mary Barra called “compelling and unprecedented,” addresses many of the union’s demands but continues to fall short on others, such as a 40% pay increase over the four years of the deal that UAW […]
SoftBank’s Masayoshi Son says AI-fueled technology can surpass human intelligence ‘big time’
CNBC) Artificial intelligence is capable of helping solve some of the world’s biggest problems and could potentially surpass the intelligence of humankind, according to SoftBank’s Masayoshi Son. “Mankind was the smartest animal on the earth — AI is going to […]
China’s retail sales surprise with faster growth, up 4.6% in August
(CNBC) China’s retail sales and industrial production picked up pace in August with better-than-expected growth, according to National Bureau of Statistics data released Friday. Retail sales grew by 4.6% in August from a year ago, beating expectations for 3% growth […]
Hedge funds bet on tough times ahead for US consumers
(Hedgeweek) Hedge funds have upped their short positions in US consumer discretionary stocks while taking long positions in consumer staples suggesting they see tough times ahead for US consumers, according to a report by MarketWatch. To read this article:
Minnesota Based Company and Founder Charged in Alleged Fraudulent Securities Offering
(HedgeCo.Net) The Securities and Exchange Commission has filed a complaint in federal court in Minnesota alleging that Robyn A. Bowman and her company Phoenix Asset Group, LLC perpetrated a fraudulent offering. The SEC’s complaint alleges that Bowman and Phoenix raised […]
Stock futures are little changed as Wall Street eyes another inflation report: Live updates
(CNBC) Stock futures oscillated near the flat line Wednesday as traders prepared for the August producer price index, a measure of wholesale inflation. Futures tied to the Dow Jones Industrial Average added 11 points or 0.03%. S&P 500 futures ticked […]
UAW barrels toward ‘likely’ strikes against auto companies. Here are the latest details
(CNBC) The United Auto Workers and Detroit automakers remain far apart ahead of the union “likely” strategically striking the companies after an 11:59 p.m. ET Thursday deadline, UAW President Shawn Fain said Wednesday night. The outspoken union leader laid out […]
Arm prices IPO at $51 per share, valuing company at over $54 billion
(CNBC) Arm, the chip design firm that supplies core technology to companies including Apple and Nvidia, priced its initial public offering at $51 a share. Arm’s fully diluted market cap, which includes outstanding restricted stock units, is over $54 billion […]
Google is cutting hundreds of jobs in its recruiting organization
(CNBC) Google is cutting hundreds of jobs in its global recruiting organization as part of a broader pullback in hiring over the next several quarters, CNBC has confirmed. “It’s not something that was an easy decision to make, and it […]
Tesla tops list of most shorted stocks again in August
(Hedgeweek) Elon Musk’s electric vehicle manufacturer Tesla has emerged as the most shorted large-cap US stock for the third consecutive month in August after topping the rankings in securities lending data specialist Hazeltree’s latest Shortside Crowdedness Report. To read this […]