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  • Jennifer J 08:30 on March 25, 2016 Permalink | Reply
    Tags: buyside, , , ,   

    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 08:45 on January 8, 2016 Permalink | Reply
    Tags: buyside, , , , , ,   

    Hedgefund News Wrap: Week Ending 01/08/2016 

    THE GUACAMOLE IS EXTRA, IS THE E COLI TOO?

    (FOX News) – Your favorite place to grab a burrito the size of newborn is now undergoing a criminal investigation. Chipotle Mexican Grill Inc is now under investigation by the U.S. Attorney’s Office for the Central District of California in conjunction with the Food and Drug Administrations’s Office of Criminal Investigations.

    With a nationwide spotlight on the burrito-giant’s E. coli outbreak, a separate norovirus outbreak in Boston and a falling stock, the company is feeling the heat. Co-CEO and leading scientists have stated that the company will likely never know which ingredient is the culprit, but plan to fully cooperate with the investigation.

    As for now, Chipotle is running full page newspaper ads in major cities apologizing and should be playing “Sorry” by Justin Bieber on repeat in all of it’s stores.

    Read the entire article at Fox News
    More coverage: The Wall Street Journal and U.S. News & World Report

    DO YOU THINK YOUR FITBIT IS LYING TO YOU? 

    (Fortune) – If yes, then you aren’t alone. Recently, a Colorado woman has filed a class action lawsuit against FitBit Inc. The woman alleges that her Charge HR device is “wildly inaccurate,” including that false advertising is in play and that its heart rate monitoring technology, PurePulse, is inaccurate.

    Apparently others are claiming that they have experienced inaccuracies as well, but FitBit is calling BS. “We do not believe this case has merit,” Heather Pierce, a spokeswoman for the company, said in an e-mail. “Fitbit stands behind our heart rate technology and strongly disagrees with the statements made in the complaint and plans to vigorously defend the lawsuit.”

    We are only 7 days into the new year and FitBit has struck out twice. Earlier this week, FitBit scoffed at the Apple Watch with the release of it’s smartwatch entitle “blaze,” the name fits as the company tumbled 18% that day and the idea went up in flames.

    As a relatively young company, FitBit’s reaction to these allegations, lawsuit and not-so-good product launch will be a tell-tale sign as to the company’s future.

    Read the entire article at Fortune
    More coverage: BloombergBusiness and Nasdaq

    SOUR APPLES

    (CNBC) – It turns our iPhones may just be a fad, as the Japanese financial news service Nikkei reported that the company is expected to reduce the output on its iPhone 6s and 6s plus devices by about 30 percent between January and March. After the news was released on Tuesday, Apple’s stock tumble and closed down over 2 percent at $100.73 on Wednesday.

    Initially, Apple told part makers in Japan and South Korea to maintain production at the same level as last year, but slower sales have made them adjust production. But according to a report, sales are expected to return to normal during Apple’s third quarter, between April and June

    “This is an eye-opening production cut which speaks to the softer demand that Apple has seen with 6S out of the gate,” says Daniel Ives, senior analyst at FBR Capital Markets, said in an interview. “The Street was bracing for a cut, but the magnitude is a bit more worrisome and speaks to a soft March quarter on the horizon.”

    Read the entire article at CNBC
    More coverage: Bloomberg Business and USA Today

     
  • Jennifer J 11:54 on December 28, 2015 Permalink | Reply
    Tags: buyside, , , , , ,   

    TradingScreen's Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:

    TECHNOLOGY:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 15:12 on December 11, 2015 Permalink | Reply
    Tags: buyside, , , , ,   

    Hedgefund News Wrap: Week Ending 12/11/2015 

    LET’S TALK ABOUT STEVE WYNN

    (CNN Money) – A CEO has come up with an interesting way to save his company from the red and being one of the worst-performing stocks of the year. Founder and CEO of Wynn Resorts, Steve Wynn, purchased more than 1 million shares of Wynn Resorts between December 4 and 8.

    Following suite, the stock surged more than 15% in early trading Wednesday and investors became excited again. Although at $72 today, far from it’s March 2014 high of $246.65, it’s common practice that when a CEO buys a large piece of the pie, it’s a good sign. Wynn now owns more than 11  million shares of the company, wearing the crown of the firm’s largest individual shareholder and third-biggest overall.

    With Chinese gambling rules taking a disastrous toll on one of Wynn’s properties, it will be interesting to see if his investment pays off.

    Read the entire article at CNN Money
    More coverage: Business Insider and The Motley Fool

    A CASUAL $130 BILLION

    (USA TODAY) – The chemical giants DuPont and Dow Chemical Co. have agree to merge in an all-stock deal valued at $130 billion, including future plans to split into three. Get ready for DowDuPont to be a household name.

    The new chemical and agricultural giant is one of top 20 largest mergers ever, speculating that there may be some regulation difficulties. “Any merger that consolidates this market into fewer hands will give farmers fewer choices and put them at even more economic disadvantage,” said Wenonah Hauter, executive director of the advocacy group Food & Water Watch, in a statement. “The Department of Justice needs to block this merger to prevent the further corporate control of the basic building blocks of the food supply.”

    But on the bright side, the companies have identified $3 billion in annual cost savings, equaling $30 billion in market value. DowDuPont will be split in about 18-24 months time via tax-free spin-offs, becoming three independent companies; agriculture, materials and specialty products.

    Read the entire article at USA TODAY
    More coverage: CNBC and The Washington Post

     

    DON’T BET ON BETTING IN NY

    (Fortune) – DraftKings and FanDuel are in a very, very large pickle. If you’re in the state of New York and are planning on betting on either DraftKinds or FanDuel, you are officially SOL for the duration of the case regarding the two companies.

    After going back and forth for sometime now, a judge put his mallet down and has sided with Schneiderman’s efforts in shutting down their games for New York players. Both companies have stated they plan to file emergency appeals seeking to block the order from taking effect, but let’s see how it shakes out.

    All I have to say is, “let the boys play!”

    Read the entire article at Fortune
    More coverage: CNN Money and Business Insider

     
  • Jennifer J 11:18 on November 23, 2015 Permalink | Reply
    Tags: buyside, , , ,   

    TradingScreen’s Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:

    LITIGATION:

    TECHNOLOGY:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 13:41 on November 20, 2015 Permalink | Reply
    Tags: buyside, , ,   

    Hedgefund News Wrap: Week Ending 11/20/2015 

    NIKE IS BUYING … ITSELF

    (Fox Business) – Nike (NYSE: NKE) announced that its Board of Directors said “Just Do It” when it comes a four-year, $12 billion program to repurchase shares of NIKE’s Class B Common Stock. Meanwhile, they are in the midst of a $8 nillio share repurchase that should be completed before the end of fiscal 2016, in which the new program will begin.

    “In a growing sports industry, NIKE is the clear leader,” said Mark Parker, President and CEO of NIKE, Inc. “We are built for growth, while also staying committed to creating shareholder value over the long term. We’ve proven it time and again, having returned over $23 billion to shareholders over the last 14 years through share repurchases and dividends. Moving forward, we see even greater potential for NIKE as we continue to unlock new markets, new experiences and new products.”

    After the split, outstanding shares of Class A and Class B common stock will increase to approximately 353 million and 1.36 billion, respectively, based on the outstanding shares as of Nov. 16, 2015.

    Read the entire article at Fox Business
    More coverage: CNBC and Street Insider

    ACANO GETS A $700M PAYDAY FROM CISCO

    (The Wall Street Journal) – Announced today, Cisco Systems Inc. is purchasing Acano Ltd., a privately held conferencing software company for a whopping $700 million in cash and equity awards.

    Acano, a London-based company that specializes in video conferencing and collaboration technology, will help Cisco in multiple ways. Cisco will be able to improve the interoperability of its video conference products.

    It seems as though Cisco took “bulking season” a little too figuratively, as they have been acquiring multiple other companies lately in order to beef up its security business.

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

    ABERCROMBIE AND FITCH IS COOL AGAIN

    (CNN Money) – Now LFO aren’t the only people who “like girls that wear Abercrombie and Fitch,” so are the share holders. As reported sales were released this morning, the stock soared nearly 25%.

    After months and months of declining sales, shifts in management and customer loyalty at a lull, Abercrombie is finally standing up, rubbing some dirt on it and is in full-fledged comeback mode. Shares were flying 16.52% to $22.17 in pre-market trading on Friday after the apparel retailer earlier this month delivered better-than-expected third quarter 2015 financial data. For the latest quarter ended October 31, the company earned 48 cents a share on $878.6 million in revenue.

    Along with the earnings release, Executive Chairman Arthur Martinez stated, “Our third quarter results exceeded our expectations coming into the quarter and provide the strongest validation yet that our initiatives are working.”

    Read the entire article at CNN Money
    More coverage: The Street  and 24/7 Wall St

     
  • Jennifer J 13:40 on November 19, 2015 Permalink | Reply
    Tags: buyside, , ,   

    European Buy Side Trading Forum 

    2nd Annual European Buy Side

    Trading Forum in Paris 

    Paris 2nd annual buyside trading forum

    TradingScreen’s Paris office held our 2nd Annual European Buy Side Trading Forum on November 17. The full day conference included a packed schedule of discussions, panels, networking and concluded with a cocktail reception. We hope that all attendees enjoyed themselves and would like to thank everyone for attending.
    If you could not attend the forum, please stay posted for news on next year’s event!

    Thank You,

    TradingScreen

     
  • Jennifer J 01:31 on November 10, 2015 Permalink | Reply
    Tags: buyside, , ,   

    Join TradingScreen At Our 2nd Annual European Buy Side Trading Forum in Paris 

    Calling all TradingScreen friends in Paris! 

    Please join us in The City of Light on November 17, 2015 for our 2nd Annual European Buy Side Trading Forum. The full day conference includes a packed schedule of discussions, panels, networking and is followed by a cocktail reception. If you are interested in attending, please register now, as space is limited.

    Click here for registration and information

     
  • Jennifer J 11:54 on November 9, 2015 Permalink | Reply
    Tags: buyside, , , , , , ,   

    TradingScreen's Morning Roundup 

    KEY REGULATORY DEVELOPMENTS:

    LITIGATION:

    THOUGHT LEADERSHIP:

     
  • Jennifer J 12:29 on October 16, 2015 Permalink | Reply
    Tags: buyside, , ,   

    Hedgefund News Wrap: Week Ending 10/16/15 

    Walmart Has Its Worst Day This Millennium  

    (CNN Money) – The cliché, what goes up must come down, is ringing true for Wal-Mart Stores Inc. these days. After being pressured into increasing the wages of over 600,000 employees, the retail giant is claiming that the increase will eat up all of the profits and consequentially, they slashed the sales forecast for the year. This lead to shares plunging 10.04 percent to $60.03, their worst slump is 17 years.

    With competition like Target and Amazon beating them out, Walmart has been forced to spend a substantial amount on increasing wages, improving it’s online sales, as well as adjusting delivery methods. Charles Holley, “Wally World’s” CFO, stated that the investments would lower operating profits by about $1.5 billion in fiscal 2017, which is essentially all of next year and January 2017.

    Profits are expect to rise again, but not until Walmart catches up to their ever-evolving competition. With grocery prices barely beating out the competition, Walmart is no longer a sought after alternative for shoppers. Over 55 percent of sales come from its grocery business, but that number is expected to decrease if their business model remains stagnant.

    Read the entire article at CNN Money
    More coverage: New York Times and Wall Street Journal

    Twitter Employees Tweeting About Twitter 

    (Forbes) – There’s nothing quite like your own employees using your platform to express how they truly feel about your management practices, just ask Twitter. Even with a 140 character limit, employees have been spreading news about the recently announced layoffs that Twitter plans on making under the newly placed CEO, Jack Dorsey.

    twitter

    Take the picture to the left for example, it tells the entire story and adds to the pile of bad PR that is quickly growing. The “ex-Tweeps” quickly took to Twitter to share their stories and hashtag #TwitterLayoffs sent a frenzy in the tech world.

    While the news is disheartening and jobs were lost, everyone from Facebook, to Reddit, to startups began Tweeting at the fired employees and job offers were flying everywhere. One stated “The 37 minutes before I found a new job were the darkest moments of my life,” clearly a dig at his ex-employer.

    Read the entire article at Forbes
    More coverage: Business Insider and CBS

    Square Files for IPO

    (Forbes) – You know that little white box that companies have been using to swipe your credit card when you’re checking out? It’s called Square, and it just filed for an IPO in hopes of raising $275 million.

    Jack Dorsey, Square CEO and newly appointed Twitter CEO, founded the mobile payments and financial services startup not too long ago. As with most payment businesses, fraud has taken a toll on Square over the years. “In the three months ended March 31, 2015, we recorded a loss of approximately $5.7 million related to fraud by a single seller using our payment services,” the company said.

    It plans to list on the New York Stock Exchange under ticker symbol “SQ,” with Goldman Sachs serving as the lead underwriter. Other banks included in the deal are J.P. Morgan and Morgan Stanley, not a bad group to get this company on the green side of things.

    Read the entire article at Forbes
    More coverage: CNBC and Fortune

     
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