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  • Bearish Bets: 2 Downgraded Stocks You Should Consider Shorting This Week
    Business
    TheStreet.com

    Bearish Bets: 2 Downgraded Stocks You Should Consider Shorting This Week

    Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on five names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Electronics Arts Inc. recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.

  • George Soros Buys Millions' Worth of Stocks Linked to Bill Hwang's Archegos Collapse: Bloomberg
    Business
    Benzinga

    George Soros Buys Millions' Worth of Stocks Linked to Bill Hwang's Archegos Collapse: Bloomberg

    George Soros reportedly snapped up stocks that took a hit amid the collapse of Archegos Capital Management in March. What Happened: Billionaire George Soros' investment firm Soros Fund Management bought shares of CBS Corporation (NASDAQ: VIAC), DISCOVERY COMMUNICATIONS INC (NASDAQ: DISCA) and Baidu Inc (NASDAQ: BIDU) as these stocks were at a discount after Bill Hwang's Archegos Capital Management collapsed, Bloomberg reports. Soros bought $194 million in ViacomCBS shares and $77 million in Baidu shares, the report said. The firm also bought $46 million worth of Vipshop Holdings Ltd (NYSE: VIPS) shares and $34 million of Tencent Music Entertainment Group's (NYSE: TME) shares. A person familiar with the fund's trading told Bloomberg that the company didn't hold the shares before Archegos' implosion. Why It Matters: Hwang ran a family office that imploded in March and caused massive losses at a few big banks when Archegos couldn't meet margin calls. Archegos had more than $20 billion of capital and total bets exceeding $100 billion. Hwang was very successful with his family office until he began to overutilize leverage, or borrowed money, to chase higher returns in the market. The problem with this strategy comes when investments start to lose money, and the banks lending the investor money begin to get nervous and initiate margin calls. Subsequently, shares of Archegos investments ViacomCBS, Discovery and others temporarily crashed during the Archegos unwinding. Global banks lost nearly $10 billion from the Archegos fallout. Credit Suisse Group AG (NYSE: CS), Nomura Holdings Inc (TYO: 8604) and Morgan Stanley (NYSE: MS) were among the hardest hit. Image Credit: CC BY 2.5, Wikimedia Commons See more from BenzingaClick here for options trades from BenzingaAT&T, Discovery In Talks To Merge Media Assets: Bloomberg© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Microsoft Directors Decided Bill Gates Needed to Leave Board Due to Prior Relationship With Staffer
    U.S.
    The Wall Street Journal

    Microsoft Directors Decided Bill Gates Needed to Leave Board Due to Prior Relationship With Staffer

    Some Microsoft directors began an investigation in 2019 into a woman’s allegations of prior sexual relationship with Bill Gates; Mr. Gates’s spokeswoman says his decision to leave board in 2020 wasn’t related to the matter.

  • Inherited $500K? Or $1 million? Here’s how to make that money act like a monthly pension
    Business
    MarketWatch

    Inherited $500K? Or $1 million? Here’s how to make that money act like a monthly pension

    With the right asset allocation and withdrawal strategy, investors may not worry so much about the large sum of money in their accounts.