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  • Jennifer J 11:05 on April 11, 2016 Permalink | Reply  

    TradingScreen’s Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:

    LITIGATION:

    TECHNOLOGY:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 13:08 on April 8, 2016 Permalink | Reply  

    Hedgefund News Wrap: Week Ending 04/08/2016 

     

    PFIZER & ALLERGAN DEAL SPOILED

    (Fortune) – Just when the Pfizer and Allergan $160 billion merger received a green light, the U.S. government, specifically the President, took the deal to a screeching halt. As a result of a new U.S. Treasury rule aimed at such deals, titled “inversions,” Pfizer and Allergan walked away from the deal.

    U.S. drug-maker Pfizer Inc. (PFE.N) and Ireland-based Allergan Plc (AGN.N) broke up on Wednesday and walked away from the historic $160 billion proposed mega-merger that was in the works. The merger would have allowed Pfizer to cut its tax bill by an estimated $1 billion annually by domiciling in Ireland, where tax rates are lower. Pfizer will now have to pay Allergan $150 million to reimburse expenses from the no-go deal.

    Now, Allerigan has wasted little time in shacking up with someone else, as they have struck a $3.3 billion Alzheimer’s drug deal. Just hours after it’s break up with Pfizer, Allergan announced a significant licensing pact with the U.K.’s Heptares Therapeutics for its Alzheimer’s drug portfolio.

    Read the entire article at Fortune
    More coverage: New York Times and Rueters

    DONE DEAL, MARRIOTT AND STARWOOD MERGE

    (Business Insider) – After weeks and weeks of bidding, and Chinese insurance giant Anbang attempting to jump in and backing out, Marriott International and Starwood Hotels are officially the world’s largest hotel company.

    The deal includes Marriott buying Starwood and paying its shareholders 0.8 shares of Marriott plus $21.00 in cash. Starwood shareholders will own about 34 percent of the combined company’s common stock after completion.

    starwood and marriott

    Arne Sorenson, Marriott’s president and chief executive officer, said, “With today’s successful stockholder approval milestone, we are that much closer to completing our transaction. Our teams continue to plan the integration of our two companies, and we are committed to a timely and smooth transition.  We appreciate the stockholders’ vote of confidence in our ability to drive long-term value and opportunity as a combined company.”

    The merger will create one big happy hotel family with 30 brands and 1.1 million rooms with Starwood’s Westin, W Hotels and Aloft joining Marriott’s Renaissance, AC Hotels, The Ritz-Carlton and others.

    Read the entire article at Business Insider
    More coverage: USA TODAY

    $23 MILLION RAISED FOR AMY AND ANDREW

    (The Street) – Wait, who? Introducing Amy and Andrew, the artificially intelligent personal-assistance bots that do all of the time-sucking work for you. X.ai, the parents company of the bots, have just raised a round of venture funding totaling $23 million. X.ai plans to use the funds to beef up its data-science team and building out an enterprise product and eventually promote and sell it.

    The bots take care of tasks such as scheduling meetings over email, all one has to do is “cc” Amy, or her counterpart Andrew, on an email regarding a meeting and she takes over the task of coordinating schedules and setting the date.

    Of course, people are skeptical of using robots and what people may think of people who use them, but time will tell if people adapt.

    Read the entire article at The Street
    More coverage: CNN Money and Inc.com

     
  • Jennifer J 12:16 on April 1, 2016 Permalink | Reply  

    HedgeFund News Wrap: Week Ending 04/01/2016 

    OVER 134K RESERVATIONS FOR THE NEW TESLA

    (Bloomberg) – Tesla has released the Model 3 and the public is loving it. The reasonably priced $35,000 Tesla is by-far the cheapest car ever offered by the company and it already has over 135,000 reservations in under 24 hours.

    Debuted on Thursday, the 200-plus-miles of range has been said to be a platform for future vehicles, sits five passengers and is a very safe car. This is HUGE for the automobile world, as this brings electronic vehicles and autonomous driving to the masses at a very affordable price.

    The Model 3 is “the final step in the master plan, which is a mass market, affordable car,” Tesla’s chief executive, Elon Musk, said at the unveiling. “It was only possible to do after going through the prior steps.”

    With all of the reservations, Tesla is doing a happy-dance as just the reservations alone are more than total sales of all previous Tesla cars combined.

    Read the entire article at Bloomberg
    More coverage: Business Insider and New York Times

    A ROUND THREE KNOCKOUT FOR MARRIOTT

    (USA TODAY) – Anbang has jumped ship in the pursuit of Starwood after weeks of out-bidding Marriott. Starwood Hotels & Resorts Worldwide put a “For Sale” sign up and Marriott took the bait, but then Anbang wanted a piece and a bidding war ensued.

    After three weeks of going back and forth, Anbang has given up and Marriott has won! But why? We aren’t totally sure. “It’s quite a surprise that they withdrew the offer,” Sigrid Zialcita, managing director of Asia-Pacific research at Cushman & Wakefield Inc. in Singapore, said by phone Friday. “They bit off more than they can chew.”

    While the deal is not officially-official, the deal between Starwood and Marriott is expected to close mid-year. If so, the merger would make Marriott the largest hotel company, with about 1.1 million rooms in 5,700 properties.

    Read the entire article at USA TODAY
    More coverage: Bloomberg and The New York Times

    GET THAT GOLD

    (CNN Money) – Gold had its best quarter since 1986 as it rose 16.5 percent in the first three months of 2016. The world’s largest gold-focused exchange-traded fund, SPDR, are approaching their highest level since December 2013.

    “This is one of the most surprising gold rallies I have ever seen,” said Ira Epstein, a strategist at the Linn Group who has been trading gold for 40 years.gold.PNG

    Gold is demolishing virtually every other asset class this year. But, why? According to several sources, gold is a “safe haven” that investors turn to when they’re scared because it’s a classic. These fears caused investors to pour $13.4 billion into gold assets during a recent 11-week stretch, the largest weekly inflow since the 2009 crisis

    Read the entire article at CNN Money

    More coverage: The Wall Street Journal and MarketWatch

     

     
  • Jennifer J 07:10 on March 31, 2016 Permalink | Reply  

    Join Us: TradeTech Europe 

    TradeTech Europe, Paris TradeTech europe 2016.PNG

    Booth #28

    4/12-4/13


    TradingScreen CEO, Philippe Buhannic, is a panelist on the first day, 4/12. You can find him on Stream A: Best Execution and Venue Analysis. 
    4:30 PM Discussion Panel: What advances in venue analysis are enabling traders to provide more detailed trade routing information to their end clients?
    Moderated By: Joe McGrath, Managing Editor, Trading & Custody, Asset International
    • What are the new demands for the buy side and how can they take responsibility for this new reporting?
    • Where are the trades being executed and how can asset managers really get this information?
    • If trades are not executed, why did this happen?
    • Who are the players of tomorrow that better analyse order routing
    • How are these technology providers offering something different?

    The official event page can be found here. To attend, register here.

    Can’t attend? Fill out this form and we will contact you.

    To view all TradingScreen events, check out our events page here.

     
  • Jennifer J 11:49 on March 28, 2016 Permalink | Reply  

    TradingScreen's Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:

    LITIGATION:

    TECHNOLOGY:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 08:30 on March 25, 2016 Permalink | Reply
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    Hedgefund News Wrap: Week Ending 03/25/2016 

    VIRGIN AMERICA FOR SALE… MAYBE

    (USA TODAY) – The Richard Branson backed U.K airline, Virgin American Inc., might be for sale. Less than two years after going public, the Burlingame, Calif.-based carrier is seeking a potential buyer. Whether the sale is for the entire company or just a part, is still undisclosed.

    With fierce competition in the skies, Virgin still saw a $109.9 million profit in the fourth quarter of 2015, a healthy jump from the $3.9 million reaped during that period in the previous year. With the rumors circling around, shares rose 13 percent at the close on Wednesday to $34.72, valuing the company at $1.5 billion.

    Read the entire article at USA TODAY
    More coverage: Forbes and Bloomberg Business

    TiVo + ROVI = MERGER

    (The New York Times) – It was released Thursday morning that TiVo is reportedly in talked with Rovi for a potential merger. An early pioneer of digital-video recorders, TiVo Inc. has soared as much as 23 percent since the news broke.
    While some reports discuss a merger, some state that TiVo is selling itself to Rovi Corp. According to reports, the deal would consist of both cash and stock with TiVo shareholders holding around 30 percent of the combined company.

    Rovi is no stranger to these waters, as it was formed through the 2008 merger of Macrovision and Gemstar and is not one of the largest owners of patents for digital entertainment devices.

    Read the entire article at The New York Times
    More coverage: Bloomberg Business and Business Insider

    PROXY FIGHT STARTED TO OUST ENTIRE YAHOO BOARD

    (Reuters) – Hedge fund Starboard Value LP released a letter outlining its hopes to remove the entire board of Yahoo Inc., including CEO Marissa Mater. Owning 1.7 percent of Yahoo, Starboard started a battle over the future of the failing web giant as it is pressing ahead with an auction of its core Internet business (search, mail and news sites).

    “We have been extremely disappointed with Yahoo’s dismal financial performance,” Starboard said in its latest letter to Yahoo, adding that its need to officially launch a proxy fight was “unfortunate.” Yahoo responded that they will “respond in due course” and review Starboard’s nine nominated nominees.

    But here’s the kicker, Yahoo co-founder David Filo not only hold the largest stake, at, 7.5 percent, but is still active on the board. Furthermore, people close to the situation have stated that a proxy fight could hinder the auction effort, but Starboard insists that the shake up is to ensure that the core business is properly sold.

    Read the entire article at Reuters
    More coverage: The Wall Street Journal and USA Today

     
  • Jennifer J 14:20 on March 22, 2016 Permalink | Reply  

    A Few Words On Brussels… 

    To Our Family and Friends,

    Our thoughts are with our customers, partners and all members of the TradingScreen community, as well as their families and friends in Brussels, who may have been affected by the horrific attacked on innocent civilians on Tuesday morning. We recognize the impact that this will have on the community as it deals with the aftermath of the deadliest terrorist attack in Belgium.

    We offer our deepest condolences to all those wounded and to the families that lost loved ones in the attack.

    Sincerely,

    TradingScreen

     

     
  • Jennifer J 11:20 on March 21, 2016 Permalink | Reply  

    TradingScreen's Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:<a

    LITIGATION:

    TECHNOLOGY:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 14:46 on March 18, 2016 Permalink | Reply  

    Hedgefund News Wrap: Week Ending 03/18/2016 

    BIDDING WAR STARTED FOR STARWOOD

    (Bloomberg) – Starwood is having cash thrown at it, literally. Previously, Starwood Hotels & Resorts Worldwide Inc. was toying with an offer from Marriott International inc. to be bought out, but now Anbang Insurance Group Co. wants a piece.

    It has been released that Starwood received a binding $13.2 billion takeover bid from a group led by China’s Anbang Insurance. Anbang and its partners said they will pay $78 a share in cash for Starwood, a $2 per share increase from the surprise bid last week. Starwood, the parent company of Westin, Sherton and W, now has two offers on the table.

    “It’s a jump ball,” said Patrick Scholes, managing director at SunTrust Robinson Humphrey, referring to Starwood. He said he expects Marriott to come back to the table bid with a bid that is modestly higher than its last.

    As far as next steps, Marriott has until 11:59 p.m. EST on March 28 to negotiate revisions to the existing agreement and come up with a better offer than Anbang. What happens if Anbang wins? History would be made, as that would mark the largest-ever takeover of a U.S. company by a Chinese buyer. But what happens if Marriott takes it all home? The merger would create the world’s largest hotel operator. Either way, this is one for the history books, folks!

    Read the entire article at Bloomberg
    More coverage: The Wall Street Journal and Reuters

    DEUTSCHE BANK FORECASTS UNPROFITABLE 

    (The Financial Times) – Shares of Deutsche Bank AG dropped as much as 6.2 percent following co-Chief Executive Office John Cryan stating that he doesn’t expect DB to report a profit this year.

    “We’ve said this year is not going to be a profitable year, we may make a small profit, we may make a small loss, we don’t know,” Cryan said at a conference in London on Wednesday. “There’s a lot of stuff we have to get done this year, so this year we’re not going to be profitable.”

    So far, this year has not been friendly to the German lender, as shares have decreased about 24 percent this year.

    Read the entire article at The Financial Times
    More coverage: Bloomberg and Investor’s Business Daily

    TOSHIBA STUCK IN SCANDAL, SELLS ASSETS  

    (Bloomberg) – Japanese conglomerate Toshiba Corp. just announced that it will sell its medical and consumer-electronics units, contributing to efforts to raise cash and reduce its business portfolio. The $5.9 billion asset sales and newly announced big investment in its chip business is great news for Toshiba, who is attempting to cover up their accounting scandal.

    They are under investigation by the U.S. over allegations that it hid $1.3 billion in losses at its nuclear power operations, according to people familiar with the matter. The 334-page report stated that management was complicit in padding profits for almost seven years. The U.S. authorities are opening this case, even though the company had already been investigated in Japan. The U.S. Justice Department and Securities Exchange Commission also added that they are looking into the possibility of fraud.

    All of this boils down to a record fiscal year loss in its 140-year history, ouch.

    Read the entire article at Bloomberg
    More coverage: Reuters and The Wall Street Journal

     

     
  • Jennifer J 16:25 on March 16, 2016 Permalink | Reply  

    TradingScreen Shortlisted for Four HFM European Services Awards 

    TradingScreen has been shortlisted for the HFM European Service Services Awards 2016 in the following categories:

    • Best Risk Management Technology Provider
    • Best Portfolio Management Software Provider
    • Best Technology For Small and Start-up Firms
    • Best Cloud Computing Solution

    HFM European Hedge Fund Services awards 2016 shortlisted

    The awards are an afternoon of recognition and reward for those hedge fund service providers that have demonstrated exceptional customer service and innovative product development over the past 12 months. We are delighted to announce to be officially shortlisted.

    To view all TradingScreen awards, check out our awards page here.

    Interested in our award-winning platforms? Fill out this form and we will contact yo

     
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