JD.com, China’s second-largest e-commerce firm, on Monday said its net loss widened in the second quarter, as marketing costs damped the impact of higher-than-forecast revenue growth. China’s main rival to Alibaba Group reported net loss attributable to shareholders of 496.4 million yuan ($74.43 million), from 252.3 million yuan in the same period a year earlier. […]
Read moreEquities closed higher on Wall Street and the dollar firmed as risk aversion took a backseat ahead of Tuesday’s Asia trading. Major indexes stateside closed the Monday session significantly higher as investors looked past geopolitical tensions that had clouded markets for most of last week. The Dow Jones industrial average gained 0.62 percent, or 135.39 […]
Read moreBitcoin hit another record Monday, but commodities whiz Dennis Gartman still isn’t buying. “It is a punter’s dream,” Gartman told CNBC’s “Fast Money.” “I give them credit for that, but it is something that I will absolutely stay away from, have stayed away from it, didn’t understand it to begin with, don’t understand it now.” […]
Read moreMost of the big hedge funds that bought Snap shares in the first quarter sold them just one quarter later, leaving billionaire George Soros as the only major investor still owning shares in the social media company. David Tepper’s Appaloosa Management dissolved its 100,000-share stake in Snap shares in the second quarter, according to a […]
Read moreAs cruise stocks continue to roar higher this year, Jim Cramer noted that this group seemed to defy the odds of a skeptical analyst community. In particular, Royal Caribbean, Carnival and Norwegian Cruise Line have been strong performers. Yet, in the beginning of 2017, Goldman Sachs downgraded Royal Caribbean to a sell and kept Carnival […]
Read moreBenchmark has repeatedly threatened to block any potential investment deal in Uber unless the board is capped at 8 people, reversing a June 2016 move by then-CEO Travis Kalanick to increase it to 11, sources tell CNBC. Over the weekend, the New York Times reported that Uber’s board has been approached by three potential investment […]
Read moreThe months of August and September are notorious for dramatic declines in the stock market, and Jim Cramer warned investors to be mentally and financially ready when it happens. Stocks fell last week after a combination of weak retail earnings and bank stock performance spooked some investors. “In the dog days of summer, we can […]
Read moreDavid Tepper’s Appaloosa Management and three other hedge funds took new stakes in Chinese e-commerce giant Alibaba in the second quarter, according to the latest quarterly filings. Appaloosa disclosed a 3.7 million stake in shares of Alibaba, according to a Monday filing with the U.S. Securities and Exchange Commission. Dan Loeb’s Third Point bought 4.5 […]
Read moreStanley Druckenmiller’s Duquesne Capital bought Chinese consumer and tech stocks in the second quarter, according to a filing Monday. The billionaire’s hedge fund took a stake in Chinese e-commerce giant Alibaba of 710,000 shares, according to a required 13-F filing with the Securities and Exchange Commission Monday. The hedge fund also took a 597,000-share stake […]
Read moreJames Damore, the former Google engineer fired over a memo criticizing the company’s diversity efforts, says his former employer is discriminating in its hiring practices based on race or gender. Damore, who’s online post has divided Google and ignited a national firestorm, told CNBC that Google is “treating people differently based on race or gender.” […]
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