Monthly Archives: October 2024
CVS is under pressure and considering a breakup. Here’s why that could be risky
(CNBC) It’s time for a wellness check at CVS Health. Shares of the company are down more than 20% this year as it grapples with higher-than-expected medical costs in its insurance unit and pharmacy reimbursement pressure, among other issues. As it seeks to claw […]
Activist Starboard Value has $1 billion Pfizer stake, taps former executives for help
(CNBC) Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with the matter. The activist’s exact plans could not be learned, but Starboard has approached […]
Citadel ups Asia fundamental equities headcount to more than 60
(Hedgeweek) Citadel, the $64bn multi-strategy hedge fund major, has ramped up its Asia fundamental equities team to more than 60 employees in just over three years, with the latest additions – Portfolio Managers Doris Yang and Jerry Jiang – set […]
EM hedge funds navigate falling inflation and shifting geopolitical risks to extend gains in Q3
(Hedgeweek) Emerging markets hedge funds extended gains through Q3 2024, as managers positioned portfolios to navigate shifting geopolitical risks, fluctuating interest rates, and global economic uncertainties, according to data from HFR. To read this article:
Fed close to pulling off the elusive economic soft landing in 2024 after great September jobs report
(CNBC) September’s outsized payrolls boost takes the U.S. economy out of the shadows of recession and gives the Federal Reserve a fairly open glide path to a soft landing. If that sounds like a Goldilocks scenario, it’s probably not far […]
Stock futures are little changed as Wall Street awaits September jobs report: Live updates
(CNBC) U.S. stock futures were flat on Thursday night as traders looked ahead to the widely anticipated release of September’s jobs report on Friday morning. Futures tied to the Dow Jones Industrial Average lost 26 points, or less than 0.1%. S&P 500 […]
Top hedge fund stock picks trailed S&P500 in Q3
(Hedgeweek) The top 20 most widely held stocks among hedge fund managers, including some of the “Magnificent Seven” tech giants, trailed the S&P 500 during the third quarter of 2024 with a 3.4% gain compared to the index’s 5.2% increase, […]
Mark Zuckerberg is now world’s second-richest person, ahead of Jeff Bezos
(CNBC) Meta CEO Mark Zuckerberg has surpassed Jeff Bezos as the world’s second richest person. Zuckerberg’s net worth reached $206.2 billion on Thursday, according to the Bloomberg Billionaires Index, topping the $205.1 billion net worth of the former Amazon CEO and president. […]
XRP slides 9% after SEC appeals decision in landmark Ripple case
(CNBC) The price of the XRP token tumbled Thursday, a day after the Securities and Exchange Commission filed to appeal a 2023 court ruling that determined XRP is not considered a security when sold to retail investors on exchanges. XRP was last lower by more […]
Nvidia CEO Jensen Huang says demand for next-generation Blackwell AI chip is ‘insane’
(CNBC) Nvidia CEO Jensen Huang said in an interview that demand for the company’s next-generation artificial intelligence chip Blackwell is “insane.” “Everybody wants to have the most and everybody wants to be first,” Huang said during the interview, which aired on […]
Here’s everything to expect when the September jobs report is released Friday
(CNBC) September’s jobs picture is expected to look a lot like August’s — a gradual slowdown in hiring from earlier this year, a modest increase in wages and a labor market that is looking a lot like many policymakers had […]
Digital assets funds see third week of inflows
(Hedgeweek) Digital asset investment products saw a third consecutive week of inflows last week, totalling $1.2bn, probably as a reaction to continued expectations of dovish monetary policy in the US, according to the latest data from CoinShares. To read this […]
