“‘I continue to believe thatthe Chinese economic model poses grave financial and geopolitical threats to the U.S. and itsinterests, more so today than ever before.’” — Jim Chanos That line above came Tuesday from short seller Jim Chanos, as he reiterated his longstanding concerns about China’s economy to a U.S. House committee that held a…
Stock investors are showing some hesitancy for Tuesday, with big signals on the economy coming this week via consumer prices and retail sales. Ahead of that, Apple is expected to tempt consumers with yet another new iPhone on Tuesday. How much should investors be worrying right now? Our call of the day from Pershing Square…
GameStop reports results after the close on Wednesday, and of course that brings to mind the huge surge in its stock price in January, 2021, when the Reddit WallStreetBets message board help to fuel a frenzy, before an abrupt end when brokers restricted trading. That episode was recalled in a podcast that Will England, chief…
Blackstone Inc.’s stock rose Tuesday after the company was included as a component of the S&P 500 index some 16 years after the private-equity firm went public. Blackstone’s stock BX, +4.13% advanced 3.8% as a spokesperson for the company said its inclusion in the S&P 500 marks “another important milestone” for the private-equity firm, after…
The U.S. Labor Day holiday will mark another milestone in the marathon to bring workers back to the office, but it won’t be a quick fix for landlords, according to Thomas LaSalvia, head of commercial real estate economics at Moody’s Analytics. Employers from Facebook parent Meta META, +0.17% to Goldman Sachs GS, -0.09% recently laid…
Shares of investment giant Blackstone Inc. and vacation-home rental platform Airbnb Inc. rallied after hours on Friday after both won the nod to join the S&P 500 index SPX later this month. The announcement, from S&P Dow Jones Indices, said that the change would take hold before the start of trading on Monday, Sept. 18….
A consortium of groups representing the private funds industry filed a lawsuit against the Securities and Exchange Commission Friday in an attempt to block new rules that would require private equity and hedge funds to disclose quarterly performance, fees and expenses. The rules, adopted last week, would also ban so-called side letters, or agreements between…
President Joe Biden on Wednesday promised ample federal support and noted links to climate change as he gave a speech about Hurricane Idalia, which made landfall in the morning on Florida’s Gulf Coast and has been moving across Georgia. “I don’t think anybody can deny the impact of the climate crisis anymore. Just look around —…
Tuesday’s pop for stocks after some grim job opening data helped the S&P 500 and other indexes trim August losses, though landing in the green for the month still looks like a long shot. Futures suggest a struggle for Wednesday. For those investors who have found this summer tough going, a team at UBS led…
The U.S. Securities and Exchange Commission voted Wednesday to adopt new rules mandating that private equity and hedge funds disclose quarterly performance, fees and expenses at a Wednesday meeting. The rule will also ban so-called side letters, or agreements between a fund and specific investors that give them preferential treatment, unless those arrangements are made…
Chemical and industrial giant DuPont de Nemours Inc. is in talks to sell its resins unit, Delrin, to the Jordan Co., a private-equity firm, for about $1.8 billion, Bloomberg News reported Sunday. Bloomberg said a deal could be announced as soon as this week, though no final decision has been made. Lone Star Funds and…
A group of investors led by Boaz Weinstein and other prominent hedge-fund managers has made an improved bid to buy Sculptor Capital Management Inc., which has already agreed to be bought by Rithm Capital Corp., the Wall Street Journal reported Sunday. In July, Sculptor said it had agreed to be acquired by Rithm Capital for…
With AI among the few things to truly captivate investors this year, more executives, from those at Nvidia Corp. to Walmart Inc. WMT, +0.60% to Stitch Fix Inc. SFIX, -8.57%, are talking up ways to harness the technology. One abbreviation they’re mentioning less? ESG. ESG — or environmental, social and governance investing standards — has…
On Thursday, Nvidia’s stock took an epic jump among the nation’s corporate giants. In one day, the graphics-chip maker total market capitalization added nearly $184 billion – that’s billion with a b. It is one of the biggest one-day market capitalization gains in American corporate history. Nvidia’s market capitalization was $754.3 billion at the stock…
“‘Icahn’s favorite Wall Street saying: “If you want a friend, get a dog.” Over his storied career, Icahn has made many enemies. I don’t know that he has any real friends. He could use one here.’” — Bill Ackman, founder and CEO, Pershing Square Capital Management That was billionaire hedge fund manager Bill Ackman, founder…
LeBron James became the NBA’s all-time scoring leader this year, passing Kareem Abdul-Jabbar’s hallowed record that many thought would never be broken, and now says he is considering retiring from basketball. The potential end to James’s career has rekindled discussions over who is the best basketball player of all time. Is 38-year-old James the GOAT…
Shares of American Airlines Group Inc. and JetBlue Airways Corp. dropped late Friday after a U.S. judge sided with the Justice Department in a lawsuit aimed at undoing the airlines’ joint venture in airports in the Boston and the New York City areas. In separate statements, both JetBlue JBLU, -1.80% and American Airlines AAL, -1.53%…
The financial fallout from half-empty U.S. office buildings has begun to be reflected in prices for bonds backed by luxury office buildings. From New York City’s famed Park Avenue to San Francisco’s California Street, properties long considered fortress investments are reeling as efforts to return more staff to office buildings in big cities stall. Recent…
The U.S. dollar, which rallied to a two-month high on Thursday, is demonstrating a bullish signal from a technical perspective and has the potential to trend up in the coming months, according to Sevens Report Research. The greenback’s strength will weigh on equities, starting by the beginning of June, noted Tom Essaye, founder of Sevens. …
Failed crypto exchange FTX is suing co-founder and former Chief Executive Sam Bankman-Fried and others, seeking to claw back about $240 million related to the company’s acquisition of stock-trading platform Embed. In a filing Wednesday in U.S. Bankruptcy Court in Delaware, FTX claimed Bankman-Fried and others — including FTX co-founders Zixiao Wang and Nishad Singh…
Corrects value in paragraph 12 to “a couple of hundred billion dollars”. Quarterly U.S. regulatory filings this week revealed that Scion Asset Management, the hedge fund founded by Michael Burry, doubled down on China stock bets. The question is, should investors? Burry’s investment moves are widely followed as he correctly called the collapse of the…