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

    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 15:12 on December 11, 2015 Permalink | Reply
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    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 09:57 on October 12, 2015 Permalink | Reply
    Tags: , , hedge fund, , , ,   

    TradingScreen’s Morning Roundup 

    Key Regulatory Developments:ferrari

    Litigation:

    Technology:

     
  • Jennifer J 08:00 on September 17, 2015 Permalink | Reply
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    TradingScreen to Attend AsiaHedge China Forum 

    Asiahedge

    China Forum 2015

    22 September, 2015

    Grand Hyatt Hotel

    Shanghai, China 

    AsiaHedge will be returning to Shanghai for the third annual China Forum, as TradingScreen and 400 leading managers, investors, policy makers and intermediaries from both the onshore and international hedge fund communities congregate for the event. TradingScreen is excited to see you there and we ask that you visit us at booth #7 for a one-on-one demo or to discuss any of our products.

    If you would like to register for the event, please register here. For more information regarding the event, please click here.

     
  • Jennifer J 11:30 on August 21, 2015 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 08/21/2015 

    “Fab Five” isn’t So Fab Anymore

    Facebook? Down.

    Amazon? Down.

    Google? Down.

    Apple? Down.

    Did that sting a little bit? It should have, as the “Fab Five” had its worst decline on Thursday since 2013. The renowned group has kept plenty of traders smiling from ear-to-ear in 2015, but yesterday it was clear how much control of the market they have. A whopping total of $49 billion in market value was obliterated, as the cliché of “what goes up, must come down” sadly came true.

    “Those five companies are the reason the market had been going up through the end of July — it makes sense that they would also lead the shift on the downside,” said Bill Mann, who helps oversee $1.5 billion at Motley Fool Asset Management LLC in Alexandria, Virginia.

    Read the entire article at Bloomberg
    More coverage: Business Net

    Mickey Mouse and Friends Decline Four Percent

    (CNBC) – In a strange twist of fate, the “Happiest Place On Earth” declined by four percent on Thursday. As shares of Walt Disney (NYSE:DIS) declined this week, media shares followed suite, leading to some very interesting observations and possibly signs of where the market is headed.

    CNBC’s Jim Cramer took to his soapbox to discuss Disney’s recent downgrade from “outperform” to “market perform,” issued by Wall Street research firm Bernstein. Although most would still rate the theme park giant as a Buy, cable television in general is taking a big hit this year as more people cut the cord on bundle packages and cable all together.

    Read the entire article at CNBC
    More coverage: CNN Money and Investor Place

    Is BB&T A Deal-Making Machine? You Decide.

    (USA Today) – Recently, BB&T Corporation (NYSE:BBT) released word that it is planning on acquiring National Bankshares (NASDAQ:NPBC) in a $1.8 billion cash-and-stock banking industry deal. While that deal is impressive in and of itself, it is only one of four deals that BB&T has made throughout the past year.

    Kelly S. King, chairman and CEO of BB&T stated, “The acquisition of National Penn provides a tremendous opportunity to strengthen our franchise in Pennsylvania and continue building the scale necessary to operate efficiently and with high-quality service,” he said. “As the fourth largest bank in the state, we will have a significant presence in these markets.”

    Four must be its magic number, because this deal moves BB&T up to fourth place by market share in Pennsylvania.

    Press release issued by BB&T

    Read the entire article at USA Today
    More coverage: Franchise Herald and Financial Buzz

     
  • Mike T 11:00 on November 14, 2014 Permalink | Reply
    Tags: , , hedge fund, merger,   

    Hedge Fund News Wrap: Week Ending 11/14/14 

    India’s hedge fund index grew by 46%, outpacing those of all other countries for the year.  The index is concentrated in small to mid-sized performs and has benefited from the positive outlook on the Prime Minister’s proposals to stimulate economic growth.

    (More …)

     
  • Mike T 14:08 on November 7, 2014 Permalink | Reply
    Tags: , , hedge fund, , salary   

    Hedge Fund News Wrap: Week Ending 11/07/14 

    Bullish bets on oil have decreased significantly since the summer, but many Hedge Funds are regaining their bullish outlook. A swift rebound in the oil market has occurred before, and investors believe that the worst news has already been absorbed into the futures and options markets.

    (More …)

     
  • Carmen C 11:52 on October 17, 2014 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 10/17/14 

    Hedge Fund Analyst Gets Five Years in Prison

    A former analyst at a San Francisco-based hedge fund, Matthew Teeple, faces five years in prison and close to $600,000 in fines and forfeitures for his role in an insider trading scheme.

    (More …)

     
  • Carmen C 11:40 on October 10, 2014 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 10/10/14 

    Herbalife Hires Former U.S. Regulator in Wake of FTC Investigation

    Nutritional supplement company, Herbalife Ltd., has hired former FTC commissioner Pamela Jones Harbour as Head of Compliance amid a current probe

    I know first-hand how great the products are because I’ve been a customer for 10 years,” said Harbour in an official statement. “My understanding of the industry and familiarity with the products have given me great insight into what a beneficial company Herbalife is.”

    (More …)

     
  • Carmen C 10:36 on October 6, 2014 Permalink | Reply
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    Hedge Fund News Wrap: Week Ending 10/3/14 

    Ackman Raises More than $3B in Amsterdam I.P.O

    Activist investor William Ackman has raised a total of $3.07 billion ahead of an initial public offering in Amsterdam, the company said on Wednesday.
    The fund, Pershing Square Holdings, with prices listed at $25 a share for a market capitalization of $6.2 billion, will start trading on Euronext Amsterdam on October 13th of this year.

    (More …)

     
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