Monthly Archives: February 2024
PayPal issues disappointing guidance even as fourth-quarter earnings top estimates
(CNBC) Revenue increased 9% in the quarter from $7.38 billion a year earlier. The number of active accounts fell 2% to 426 million, trailing analyst expectations of 427.17 million, according to Street Account. Net income rose 52% to $1.4 billion, […]
Years of poor returns see investor dump equity long-short hedge funds
(Hedgeweek) Equity long-short hedge funds have seen nearly $150bn in client withdrawals over the past five years as investors have lost faith in their ability to capitalise on bull markets and protect cash during market downturns, according to a report […]
Activist hedge fund Vision One pushing for Kohl’s sale
(Hedgeweek) Vision One Management Partners, an activist hedge fund firm co-founded by former Canadian Prime Minister Stephen Harper and Carl Icahn protégé Courtney Mather, wants US department store operator Kohl’s to put itself up for sale, according to a report […]
Stock futures are little changed as investors parse fresh quarterly results: Live updates
(CNBC) Stock futures were little changed on Tuesday, as investors parse through another slate of quarterly results halfway through the corporate earnings season.Futures tied to the Dow Jones Industrial Average rose 13 points, or 0.03%. S&P 500 futures, as well […]
New York Community Bancorp stock value set to halve, as Moody’s cuts ratings
(CNBC) Shares of New York Community Bancorp lost 22% on Tuesday, extending a sell-off since the lender reported a surprise quarterly loss last week, as Moody’s downgraded its long-term debt ratings to junk status. The stock closed at $4.20 and […]
Hedge funds positioned to profit from further US regional banking turmoil
(Hedgeweek) Global hedge funds were positioned to profit from last week’s plunge in US regional banking stocks, according to a report by Reuters citing a JPMorgan prime brokerage note to clients. To read this article:
Digital assets funds see $708m inflows
Hedgeweek) Digital asset investment products saw large inflows totalling $708m last week, bringing year-to-date inflows to $1.6bn and total global AUM to $53bn, according to the latest Digital Assets Fund Flows Weekly report from CoinShares. To read this article:
EEX global power markets trading volume up 45% Y-o-Y in January
(Hedgeweek) EEX Group has reported a dynamic start to 2024, with the total monthly trading volume on its global power markets totalling 938.4 TWh, a 45% increase year-on-year and a 21% growth compared to December 2023 (775.4 TWh). To read […]
Snap plunges 30% on revenue miss and light guidance, as company says Middle East war creates ‘headwind’
(CNBC) Snap has struggled to rebound from the downturn in the digital ad market and has now reported six straight quarters of single-digit growth or sales declines. For the fourth quarter, revenue rose about 5% year over year to $1.36 […]
Founder of American Bitcoin Academy Online Crypto Course Charged with Fraud Targeting Students
(HedgeCo.Net) The Securities and Exchange Commission has announced that Brian Sewell and his company, Rockwell Capital Management, agreed to settle fraud charges in connection with a scheme that targeted students taking Sewell’s online crypto trading course known as the American […]
Ken Griffin’s Citadel hedge fund rose 1.9% in January as volatility ramped up
(CNBC) Billionaire investor Ken Griffin’s flagship hedge fund rose last month as volatility made a return amid the debate about rate cuts, according to a person familiar with the returns. Citadel’s multistrategy flagship Wellington fund climbed 1.9% in January, following a […]
UBS beats earnings expectations, announces up to $1 billion share buyback
(CNBC) Swiss banking giant UBS on Tuesday narrowly beat fourth-quarter earnings expectations and announced that it would recommence share buybacks worth up to $1 billion in the second half of the year. The group posted a net loss attributable to […]