Monthly Archives: January 2024
Meta passes $1 trillion in market cap
(CNBC) Meta last exceeded $1 trillion in market cap in 2021, when it was still known as Facebook. It was the company’s first time hitting the milestone. In September 2021, its market cap approached $1.1 trillion. The company’s soaring stock […]
Judge refused to let Binance founder Zhao travel to UAE despite his offer to use equity as security
(CNBC) A federal judge has rejected a request by Binance founder Changpeng “CZ” Zhao to travel to his home in the United Arab Emirates for the “hospitalization and surgery” of a person in his life even though he offered to […]
IBM shares rise after earnings top estimates in ‘uncertain, volatile’ economy
(CNBC) IBM’s revenue increased 4% year over year in the quarter, according to a statement. Net income, at $3.29 billion, or $3.55 per share, increased from $2.71 billion, or $2.96 per share, in the year-ago quarter. The company confronted “a […]
Nasdaq 100 futures rise after Netflix posts subscriber jump:
(CNBC) Futures tied to the tech-heavy Nasdaq 100 climbed Wednesday morning after Netflix reported its subscriber count reached a new record in the fourth quarter. Nasdaq 100 futures rose 0.34%, while S&P 500 futures gained 0.21%. Dow Jones Industrial Average […]
SAP plans job changes or buyouts for 8,000 employees in restructuring plan
(CNBC) SAP said on Tuesday that it aims to carry out voluntary buyouts or enable job changes for 8,000 employees as part of a restructuring program for 2024. The German software company said in a statement that its headcount should […]
EBay to eliminate about 1,000 jobs, or 9% of full-time workforce
(CNBC) EBay said Tuesday that it plans to lay off 9% of the company’s workforce, equal to about 1,000 full-time jobs, as the tech industry continues to downsize to start 2024. The stock rose more than 3% in extended trading. […]
Digital asset funds weekly trading volume hits $11.8bn
(Hedgeweek) Digital asset investment products saw minor outflows last week totalling $21m, although this top line number masks very high trading volumes which totalled $11.8bn, according to the latest Digital Asset Fund Flows Weekly Report from CoinShares. To read this […]
Hedge fund capital surges to record high as inflation risk falls and geopolitical risks increase
(Hedgeweek) Hedge fund capital surged beyond the historic $4tn milestone to begin 2024, with investors remaining focused on inflation, higher interest rates, and macroeconomic uncertainty, but increasingly much more focused on uncertain geopolitical risk and acceleration in M&A. To read […]
Hedge fund Engine Capital wants Parkland board changes
(Hedgeweek) Hedge fund Engine Capital has urged Calgary-based fuel retailer Parkland Corporation to focus on refreshing its board of directors rather than fighting a multimillion-dollar legal battle with its largest shareholder, according to a report by The Globe and Mail. […]
Morgan Stanley To Pay $249 Million to settle Fraud Charges
(HedgeCo.Net) The Securities and Exchange Commission has charged investment banking giant Morgan Stanley & Co. LLC and the former head of its equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information about the sale […]
US hedge funds beat local China rivals in 2023
(Hedgeweek) The China operations of US hedge funds Bridgewater Associates and Two Sigma Investments saw a big surge in assets last year as they weathered market turbulence to outperform their local rivals, according to a report by the Financial Times. […]
Bitcoin briefly dips below $40,000 for the first time this year
(CNBC) Bitcoin extended its losses on Monday, dipping below $40,000 for the first time this year and pulling the rest of the crypto market down with it. The price of bitcoin was last lower by 3.9% at $40,052.76, according to […]