Paulson & Co. cut its stake again in American International Group Inc. even though the hedge fund firm’s billionaire leader sits on the insurer’s board of directors.
Month: February 2017
SoftBank to Buy Fortress Investment Group for $3.3 Billion
SoftBank Group Corp. is buying alternative-asset manager Fortress Investment Group LLC for $3.3 billion in cash to operate alongside the Japanese company’s soon-to-be-established technology investment fund. Japan’s SoftBank will pay $8.08 a share for New York-based Fortress, a 39 percent premium to the company’s Feb. 13 closing price, according to a statement Tuesday.
Apple Said to Weigh Chinese Supplier for Next-Gen iPhone Screens
Apple Inc. is in discussions with China’s BOE Technology Group Co. to supply next-generation displays for future iPhones, a key component that’s being provided by a Samsung Electronics Co.
CSX Eyes Special Meeting to Vote on Activist Fund’s Proposals
The railroad giant is seeking guidance from investors about whether to support an activist investor’s proposals to replace the company’s CEO and obtain six director seats. Railroad giant late Tuesday said it was calling a special shareholder meeting to seek guidance from investors about whether to support a series of proposals issued by an activist investor who is seeking to replace the company’s CEO and obtain six director seats on a newly formulated fourteen-person board.
Rupert Murdoch Doesn’t Push Fox Film Studio Politically, Says CEO Snider
Fox studio chief Stacey Snider says she’s under no pressure from Rupert Murdoch to make films that might appeal to voters who elected Donald Trump president. 21st Century Fox Executive Chairman Rupert Murdoch hasn’t talked politics or pushed Fox’s film studio to make movies that might have greater appeal to the millions of people who helped to elect Donald Trump president.
Expect T-Mobile to Continue Inflicting Pain on Verizon and AT&T
T-Mobile’s latest numbers and guidance suggest the bleeding is far from over. As pre-announced in early January, the self-proclaimed Un-Carrier added 2.1 million subscriptions in the seasonally strong fourth quarter, including 933,000 branded postpaid phone net adds and 541,000 branded prepaid net adds.
Facebook takes aim at Youtube with new standalone TV app
The move could allow it to eventually better compete with the likes of YouTube and traditional television channels for advertising revenue. Users with Apple TV, Amazon’s Fire TV and Samsung’s Smart TVs will be able to watch Facebook’s user-generated videos directly on their televisions.
T-Mobile one-ups Verizon; 4th-quarter results top forecasts
Mobile US has added new features to its unlimited data plan to one-up competitor Verizon, just hours after the larger carrier announced its own unlimited plan. T-Mobile, headquartered outside Seattle, will allow customers to stream videos in HD quality by default beginning Friday, addressing the major criticism of its unlimited T-Mobile One plan.
Disney’s CEO Says There Are Too Many Commercials on TV
“I think that in general, there is probably too much commercial interruption in television,” he told investors on the company’s first-quarter earnings call. Disney will specifically look at lowering ad load on ABC and ESPN.
Merck Stops Clinical Trial of Alzheimer’s Drug
This Thursday, Dec. 18, 2014, file photo shows the Merck logo on a stained glass panel at a Merck company building in Kenilworth, N.J. Merck & Co. reports financial results Thursday, Feb. 2, 2017.
Port officials weigh options to clean the air: Natural gas or electric?
Energy companies are fighting part of a proposed clean air plan for the ports of Long Beach and Los Angeles that would demand zero-tolerance for truck emissions by 2035. Proponents of natural gas and other fuels that are cleaner than diesel argued at a Long Beach Harbor Commission meeting Monday night they can accomplish near zero-emission using energy that is already available, getting the port closer to its goal quicker.
Flex: Cramer’s Top Takeaways
Shares of Flex have been on a tear, rising almost 30% in 2016 and already up another 13% in 2017. “What a winner,” Cramer said of the stock, which trades at just 12 times next year’s earnings.
Visa: Cramer’s Top Takeaways
Visa CEO Al Kelly tells Jim Cramer there’s great opportunity for growth in India and elsewhere in coming years. In an “Executive Decision” segment, Cramer spoke with Al Kelly, CEO of Visa .
Another College Station Sold
We are seeing it more and morecolleges no longer interested in subsidizing campus radio stations. We learned on Tuesday that Northern Kentucky University has approved a plan to sell WNKU-FM to Bible Broadcast Corp. for $1.9 million.
5 Steps for Tracking Your Monthly Expenses
But while thinking about your monthly financial picture is a great start, it isn’t enough to actually wrangle your expenses. The next move is tracking your spending on a regular basis so you can get an accurate picture of where your money is going and where you’d like it to go instead.
19 Ways to Save on a Wedding
Weddings cost an average of $35,329 nationally – excluding the honeymoon – according to The Knot’s 2016 Real Weddings Study . That’s the highest reported average cost since the survey began in 2006.
Here’s Why Apple’s Stock Hit An All-Time High Today
What a difference a few months make. After hitting a low point in May of last year, Apple’s stock has rallied back 47%, and it just hit an all-time high today.
Without Big YouTube Star, Google Faces Setback in Content Plans
Turns out, it was a ruse. The Swede behind the PewDiePie character admitted in a video that he was trying to boost his YouTube fan numbers to more than 50 million.
Merck Alzheimer’s Drug Study Halted Early for Futility
Another Alzheimer’s disease drug has failed to help patients. This time, it’s verubecestat, a BACE inhibitor from Merck .
Caesars Says 4Q Loss Is Ten Times Bigger Than Analysts Expected
Caesars Entertainment reported a fourth quarter net loss of $3.88 a share, more than ten times greater than the 37-cents-a-share loss expected by analysts polled by FactSet. The Las Vegas-based gaming company reported fourth quarter revenue of $949 million, compared with the $2.39 billion expected by FactSet.
Facebook Announces New TV App in Move to Become Video Destination
The social media giant is set to launch a new app in the coming months that will be available on Apple TV and Amazon’s Fire TV. Facebook announced on Tuesday that it was significantly increasing the number of ways users will be able to watch its videos, including via a new app accessible on set-top boxes such as Apple TV and Amazon Fire TV, as well as Samsung Smart TVs.
Boyd Gaming Reports Mixed Q4 Results
Boyd Gaming reported a 2.2% increase in fourth quarter net revenue to $554.8 million, generating earnings of 38 cents a share. Analysts polled by FactSet were expecting the company to report revenue of $561.1 million and earnings of 24 cents per share.
Facebook Exec Treads Lightly on Fake News
Facebook’s Dan Rose says the world’s largest social media platform is taking many steps to combat fake news but won’t prevent suspect sources from posting. While the world’s largest social media platform is flagging some stories as fake, it is pulling back from proactively fingering suspect stories or cutting off the feeds of websites that notoriously publish nefarious information meant to sway the public.
Bank of America Begins Its Next Powerful Move Higher
Bank of America is breaking out of a 10-week consolidation Tuesday. The stock is up just shy of 3% and is beginning to put some distance on a very heavy resistance zone near $23.50.
David Elman
David Elman is the senior bankruptcy editor covering new bankruptcy filings, court hearings, controversies and debtor-in-possession loans and exits. David also edits auction, out-of-court and private equity copy, helps produce daily electronic editions of The Deal and compiles the Bankruptcy Insider and M&A Tipsheet newsletters.
Some final notes on MANs vs LANs
Although the IEEE had adopted a MAN standard, there were only relatively few examples of what might be called MANs available, and none of these conformed to the proposed IEEE standards. Those networks that did exist were largely based on CATV, and were often called Institutional Networks, or I-Nets.
What Sent Shares of Kandi Technologies Spiraling in 2016?
Unfortunately, Kandi’s business hasn’t lived up to the hype, and shares shed 54% of their value in 2016 alone. One reason behind Kandi’s rough year was simply the uncertainty it faced with the Chinese government’s subsidy payments.
Visa Checkout Is Growing Fast — but Is That Enough?
The stock price popped on the revenue and earnings beat and is now up 9% year to date. Underlying business fundamentals also look strong.
Skechers Concept Stores Help Drive International Growth
The company’s strategic investments in its international concept stores over the last several years played a key role in its international growth by ensuring the right products are available for its wholesale customers, thereby increasing sales and reducing markdowns. With Skechers having twice the number of international concept stores as its U.S. domestic segment, there is clear potential for tremendous international growth in 2017 and beyond.
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The office building of health insurer Anthem is seen in Los Angeles, California February 5, 2015. REUTERS/Gus Ruelas/File Photo (
Fed’s Yellen defends ‘stress test’ of Wall Street
A yearly checkup on leading Wall Street banks helps regulators protect the U.S. financial system and the reviews should be preserved, the Federal Reserve chair said on Tuesday. The largest 44 banks in the United States must satisfy regulators that they could weather a serious economic downturn in the annual ‘stress test’ administered by the Federal Reserve.
Buffett Bets Big on Apple
Warren Buffett’s Berkshire Hathaway Inc was an aggressive buyer of stocks in last year’s fourth quarter, disclosing significant increases in its stakes in Apple Inc and in the four biggest U.S. airlines. In a regulatory filing, Berkshire said it nearly quadrupled its stake in Apple to about 57.4 million shares, worth roughly $6.64 billion as of Dec. 31, from 15.2 million shares three months earlier.
Apple breaks intraday record high for first time since 2015
Apple Inc’s share price hit an intraday record high on Tuesday for the first time in almost two years as investors raised bets that a 10th anniversary iPhone will boost lackluster sales. The stock touched an intraday all-time high of $135.09, beating its previous intraday high of $134.54 set on April 28, 2015.
Richard Haass: Michael Flynn Controversy Not Over Yet
Feb. 14, 2017 – 6:05 – Council on Foreign Relations President Richard Haass on the resignation of Michael Flynn and U.S. foreign policy.
Trump’s Twitter Anger Could Be Contagious
When Trump’s tweets are angry, the mood of his followers darkens too, according to an analysis by two political scientists at Penn State. President Donald Trump has shown a unique ability to use Twitter as a way to connect directly with his followers.
What exactly is Ivanka Trump doing?
A great discussion with two world leaders about the importance of women having a seat at the table! Y o Y Y Y pic.twitter.com/AtiSiOoho0 Ivanka Trump sits beaming in the president’s chair. President Trump stands behind his older daughter, resting a hand on her back.
A record number of poor kids are eating breakfast – thanks to a program many conservatives hate
Students choose their breakfast in the cafeteria at Bailey’s Upper Elementary School in Falls Church last September. A record number of low-income children have begun to eat breakfast at school.
Your complete guide to choosing an unlimited data plan
With all the unlimited mobile data plans out there these days , it’s easy to feel a little lost. Between the varying offers and the fine print, choosing a data plan in 2017 may seem like an exercise in frustration.
These 3 Stocks Just Raised Their Dividends
So far, 2017 has been a fertile year for payout hikes — income investors have plenty of reason to be optimistic going forward. Yet there’s no telling whether the next 10 months or so will be similarly rich, so we should enjoy the soiree while it lasts.
SEC Fines Morgan Stanley For Unsuitable Sales Of Inverse ETFs
The Securities and Exchange Commission settled charges with Morgan Stanley Smith Barney on Tuesday, fining the firm $8 million for selling unsuitable ETF products to customers and not obtaining proof the clients understood the risks involved with purchasing inverse ETFs. Morgan Stanley admitted its wrongdoing.