Robert Soros, the eldest son of George Soros, is stepping down as deputy chairman and president of Soros Fund Management, a spokesman for the fund told Reuters. Soros, 53, who will remain an owner at the firm, will set up Soros Capital to look at illiquid investments, including venture capital, the spokesman said. David Milich, […]
Read moreDrugstore stocks jumped on Monday as Rite Aid‘s merger with Walgreens appeared to be closer to gaining approval. Shares of Rite Aid are up over 11 percent on Monday on high-volume trading. The Federal Trade Commission has to approve the merger, and doubts about that approval are easing, giving a boost to drug shares. Fred’s […]
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The S&P 500’s strong 8.9 percent rise since January bodes well for the second half of the year, if history is any guide. The nearly 9 percent boost represents more than twice the average increase during the first six months of all years since 1946 and more gains typically follow such a strong start to […]
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Passive investing is taking a bigger share of the stock market, helping to drive gains. Exchange-traded funds, or ETFs, owned nearly 6 percent of the U.S. stock market as of the end of the first quarter, their greatest share on record, according to analysis by Goldman Sachs. Known as passive investments, ETFs are baskets of […]
Read moreInvestors love Elon Musk’s vision and his companies. He’s regularly hailed as our generation’s Thomas Edison. Tesla is up nearly 80% year-to-date and by more than 1,000% in the past 5 years. It’s more valuable than GM or Ford even though they sell a fraction of the cars. As the only public company in his […]
Read moreTen years ago this week, the first iPhone was released. And one of the biggest surprises for reviewers at the time was that the touchscreen actually … worked. “The most remarkable thing about iPhone is what’s missing: a physical dialing keypad,” USA Today’s Ed Baig wrote at the time. “[W]e didn’t miss a stylus in […]
Read moreOracle has landed a big customer, Bank of America, for its enterprise resource planning and financial planning software, the company announced on Monday. The deal partly displaces Oracle rival SAP, which dominates the ERP and financial software space. The software will run on BofA’s premises, but will use Oracle’s people and hardware, and will use […]
Read moreShares of Arconic dropped more than 6 percent in early trading on Monday after Reuters reported the U.S. company formerly called Alcoa knowingly supplied flammable panels for use at London’s Grenfell Tower. Reuters said six emails sent to and by an Arconic manager raised questions about why the company supplied the combustible panels despite a […]
Read moreClosely followed trader Art Cashin told CNBC on Monday that the Bank for International Settlements just came out with a “wild card” remark on the market becoming vulnerable to another 2008-type financial crisis. Cashin spoke after the BIS, an umbrella body for leading central banks, said in an annual report on Sunday that “pricing anomalies […]
Read moreDan Loeb’s Third Point, which has more than doubled the S&P 500’s return the last two decades, just made its largest investment ever with a multi-billion dollar bet on Swiss food giant Nestle. Loeb’s hedge fund firm owns around 40 million shares of Nestle, according to an investor letter published Sunday. The position totals over […]
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