1. Articles from Akin Oyedele

    1-24 of 28 1 2 »
    1. Warren Buffett says Bitcoin 'Definitely will Come to a Bad Ending'

      Warren Buffett says Bitcoin 'Definitely will Come to a Bad Ending'
      • "What's going on definitely will come to a bad ending," said Warren Buffett, Berkshire Hathaway's CEO, on cryptocurrencies.
      • Buffett told CNBC the firm will never have a position in cryptocurrencies.

      Berkshire Hathaway CEO Warren Buffett said Wednesday that the firm had no interest in jumping on the cryptocurrency bandwagon.

      "We don't own any, we're not short any, we'll never have a position in them," Buffett said in an interview on CNBC...

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    2. 'The S&P 500 Has a 10% Correction:' Blackstone's Byron Wien Unveils His Big Surprises for 2018

      'The S&P 500 Has a 10% Correction:' Blackstone's Byron Wien Unveils His Big Surprises for 2018
      • Blackstone Vice Chairman and investing ace Byron Wien is out with his list of 10 "surprises" for 2018.
      • These predictions, he says, have a better-than-50% chance of happening, but the average investor assigns them only about a one-in-three chance.
      • The list, now in its 33rd year, includes a 10% stock market correction, populism worsening, and Republicans losing big in the midterm elections...
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    3. Spotify has Reportedly Filed for its IPO in Secret

      Spotify has Reportedly Filed for its IPO in Secret

      Spotify in December confidentially filed with the Securities and Exchange Commission for its initial public offering, Axios reported.

      • Companies can file quietly to gauge interest from investors before deciding to publicize their IPO plans.
      • Earlier this week, Spotify was slapped with a $1.6 billion lawsuit for allegedly streaming thousands of songs without compensating the publisher.
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      Mentions: Investors SEC IPO
    4. Warren Buffett Has Won his $1 Million Bet Against the Hedge Fund Industry

      Warren Buffett Has Won his $1 Million Bet Against the Hedge Fund Industry
      • In 2007, Warren Buffett entered a million-dollar bet with fund manager Protégé Partners that the S&P 500 would beat a basket of hedge funds over the next decade.
      • His S&P 500 index fund compounded a 7.1% annual gain over 10 years, beating an average increase of 2.2% by the basket of funds selected by Protégé Partners.
      • The prize money will go to Girls Inc. of Omaha.
      • Buffett took issue with hedge funds' high fees and their promise of outperforming the market...
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    5. CSX Tumbles 7% After CEO goes on Medical Leave

      CSX Tumbles 7% After CEO goes on Medical Leave
      • CSX shares fell on Friday after the company announced CEO Hunter Harrison has taken medical leave.
      • The company has appointed James Foote, its chief operating officer, as acting CEO.
      • CSX hired Harrison in March to help turnaround the company, and concerns had been raised about his health.

      Shares of the railroad-provider CSX Corporation tumbled in trading on Friday after the company announced that its CEO has taken medical leave...

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      Mentions: CEO stake
    6. Bitcoin Futures Trading Gets the Green Light from US Regulators

      Bitcoin Futures Trading Gets the Green Light from US Regulators
      • Bitcoin futures trading can go ahead on three US exchanges, the Commodity Futures Trading Commission said on Friday.
      • Futures contracts give traders a way to bet on bitcoin prices and earn profits without buying the actual cryptocurrency.
      • Bitcoin has surged nearly 1,000% against the dollar this year as its popularity has grown.
      • The Chicago Mercantile Exchange will launch its bitcoin futures contracts on December 18...
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      Mentions: Wall Street Bitcoin
    7. Breaking News: Bill Ackman Reportedly Suffers a Big Blow in his Effort to Shake Up ADP

      Breaking News:  Bill Ackman Reportedly Suffers a Big Blow in his Effort to Shake Up ADP

      ADP shareholders voted against adding three directors to its board including Bill Ackman, handing a loss to the activist investor after a three-month long campaign, The Wall Street Journal and Bloomberg reported on Tuesday.

      The billionaire founder of the hedge fund Pershing Square has engaged in a bitter proxy battle with the HR-software provider, calling for sweeping changes including the replacement of CEO Carlos Rodriguez...

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    8. Qualcomm is Going to do Whatever it Takes to Fend off Broadcom

      Qualcomm is Going to do Whatever it Takes to Fend off Broadcom
      • Broadcom on Monday offered to buy Qualcomm in what would be the largest tech deal on record.
      • Qualcomm is set to reject the unsolicited offer, according to several reports.
      • This sets Broadcom up to start a hostile takeover campaign for its rival, which has been rattled recently by a lawsuit with Apple over licensing fees.
      • Qualcomm shares on Monday traded below the offer price of about $70 per share, suggesting that traders were skeptical...
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    9. Warren Buffett's Berkshire Hathaway Just Made a Big Bet on Real Estate

      Warren Buffett's Berkshire Hathaway Just Made a Big Bet on Real Estate

      Store Capital, a real estate investment trust, said Monday that Berkshire Hathaway invested $377 million in the company.

      That amounted to 9.8% of outstanding shares purchased at $20.25 apiece, Store Capital said in a statement. Its shares gained by as much as 11% to $23.10 in premarket trading.

      Store Capital invests in single-tenant real estate for profit...

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    10. Amazon Went Public 20 Years Ago Today — Here's How Much its Earliest Investors Have Earned

      Amazon Went Public 20 Years Ago Today — Here's How Much its Earliest Investors Have Earned

      On May 15, 1997, Amazon, then an online bookstore, went public.

      The company's stock has seen a stunning 36% compounded annual gain since then.

      Amazon closed at $961.35 on Friday, giving the company a market value of about $466.2 billion. Its split-adjusted stock price close at $1.96 on day one is now 490 times more...

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      Mentions: Investors CEO IPO
    11. Warren Buffett's Berkshire Hathaway lost up to $58.5 million after the United debacle (UAL, BRK.A)

      Warren Buffett's Berkshire Hathaway lost up to $58.5 million after the United debacle (UAL, BRK.A)

      Berkshire Hathaway, the largest owner of United Continental Holdings shares, lost up to $58.5 million as the stock fell on Tuesday.

      That's a lot of money for most of us, but not for Warren Buffett, Berkshire's chairman, who is worth $75 billion according to Bloomberg.

      Berkshire owns 28.9 million United shares, or about 9% of all outstanding shares, according to Bloomberg. As of Monday's close, that stake was worth $2.07 billion...

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    12. Snapchat Just Got a Deluge of Bullish Ratings from Wall Street And its Shares are Rallying (SNAP)

      Snapchat Just Got a Deluge of Bullish Ratings from Wall Street And its Shares are Rallying (SNAP)

      Snap Inc. received a deluge of bullish ratings from several Wall Street banks on Monday, sending the company's shares higher in pre-market trading. The banks that initiated coverage included underwriters of the Snapchat parent's initial public offering who had been subject to a 25-day quiet period...

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      Mentions: Investors CEO Google
    13. We Spoke to the Chairman of the Company Whose Stock Exploded After People Confused it with Snapchat — Here's What He Said

      We Spoke to the Chairman of the Company Whose Stock Exploded After People Confused it with Snapchat — Here's What He Said

      As Snap Inc. was preparing to take its shares public on Thursday, March 2, another company with a similar name was jumping.

      Snap Interactive, the owner of dating and messaging apps including Tinychat and FirstMet, surged 18%. Its so-called over-the-counter shares — traded without a centralized exchange — quickly fell when the parent company of Snapchat started trading.

      That was not the first time that Snap Interactive's shares moved around major news announcements from Snap...

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      Mentions: Board Chair
    14. This Earnings Season May Not Bring the Kind of Surprises Wall Street is used To

      This Earnings Season May Not Bring the Kind of Surprises Wall Street is used To

      Earnings surprises over the next few weeks may be tamer than usual. As usual, analysts lowered their estimates for fourth-quarter earnings in the weeks leading up to announcements, which pick up pace this week.  But this time, the drop was below average, setting Wall Street up for fewer surprises, according to Julian Emanuel, US equity and derivatives strategist at UBS...

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      Mentions: Investors
    15. Whole Foods is Spiking Following a Report That a Major Shareholder Wants to Make Big Changes

      Whole Foods is Spiking Following a Report That a Major Shareholder Wants to Make Big Changes

      Whole Foods shares spiked in trading on Friday following a report that one of the company's largest shareholders is pushing for big changes. Bloomberg reported, citing people familiar with the matter, that the shareholder met with potential activist investors to discuss changing the retailer's management, and probably selling the company ...

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    16. Wells Fargo’s Former CEO just Resigned from the Boards of Target and Chevron

      Wells Fargo’s Former CEO just Resigned from the Boards of Target and Chevron

      Oct. 19, 2016, 4:45 AM Thomson Reuters Recently retired Wells Fargo CEO John Stumpf has resigned as a board member of Target and Chevron. Regulatory filings from both companies on Tuesday contained the news. “Mr. Stumpf resigned for personal reasons and not as a result of a disagreement with Chevron,” the energy company’s filing said. Target did not cite a reason...

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    17. The Trillion-Dollar Reason Why Wall Street Should Take Gender Diversity More Seriously

      The Trillion-Dollar Reason Why Wall Street Should Take Gender Diversity More Seriously

      There are plenty of reasons why companies and investors should take gender diversity seriously. But if a quantitative reason based on stock-market returns is needed, Morgan Stanley has it. Strategists at the bank recently updated their study on 1,600 public companies around the world and found that the shares of public companies that are more gender diverse experience less volatility and outperform those that aren’t...

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    18. Chesapeake Energy says it's Been Subpoenaed Over its Accounting Practices (CHK)

      Chesapeake Energy says it's Been Subpoenaed Over its Accounting Practices (CHK)

      There's more bad news for Chesapeake Energy.

      In a regulatory filing on Thursday, the company said the Department of Justice served it a subpoena, asking for information about accounting practices for the purchase of oil and gas properties, how it classified them, and "related matters."

      The company also got DoJ, Postal Service, and state subpoenas related to its royalty payment practices...

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    19. Here Comes Ferrari ...

      Here Comes Ferrari ...

      Ferrari will make its debut on Wall Street on Wednesday.  The luxury sports car maker priced its IPO at $52 per share, the higher end of analyst projections for pricing between  $48 to $52.  The company raised $893 million at its initial public offering, according to Bloomberg.  Ferrari will be listed on the New York Stock Exchange, which currently has several sports cars parked outside its premises...

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    1-24 of 28 1 2 »
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