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☆ Stocks making the biggest moves after hours: Reddit, Lyft, Rivian, Twilio and more
▼ + stars: | 2024-05-07 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Wynn Resorts — The resort-and-casino stock added 2.3% on the back of better-than-expected first quarter earnings. However, the California-based company saw $253 million in revenue for the three-month period, above the consensus forecast of $247 million. Toast — The cloud-based restaurant management software company saw shares jump more than 2% in extended trading after its earnings report. Twilio expects revenue to range between $1.05 billion and $1.06 billion versus an LSEG average estimate of $1.08 billion. The quarter "saw early indications of market share gains in hereditary cancer and prenatal testing," management said.

Persons: Reddit, Lyft, Rivian, Wynn, LSEG, Sonos, —, Yun Li, Hakyung Kim, Pia Singh, Darla Mercado, Scott Schnipper, Samantha Subin Organizations: FactSet, LSEG, Rivian, Wynn Resorts, Arts, Arista Networks, Wall, Myriad Locations: California

☆ Mark Penn's Stagwell Group is on the hunt for adtech as the ad company continues its acquisition spree
▼ + stars: | 2024-04-23 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Stagwell Group, the advertising agency holding group operated by Mark Penn, a former advisor to Bill and Hillary Clinton, is actively looking to buy adtech companies as it continues to grow through acquisitions. Penn's theory is that by bringing such adtech in-house, Stagwell can offer more self-service software to advertisers who want it while also shrinking those clients' ad prices and expanding its own margins. Challenger brand Stagwell is competing for bigger contractsPenn founded Stagwell Group in 2015 with $250 million in funding from investors, including former Microsoft Chief Executive Steve Ballmer. Stagwell recently made a near-$700-million bid for S4 Capital, another challenger ad company founded by longtime WPP CEO Martin Sorrell, The Wall Street Journal reported. Publicis Groupe has the biggest market capitalization of the largest holding companies, at $28.2 billion, while Stagwell is trading at around $1.6 billion.

Persons: Mark Penn, Bill, Hillary Clinton, Penn, we're, Stagwell, Penn didn't, Ana Milicevic, Milicevic, Brian Wieser, Wieser, Steve Ballmer, Sunny, GALE, Allison, Martin Sorrell, they're Organizations: Stagwell, Penn, Business, Google, Harris Poll, Next Partners, Sparrow, Madison, Challenger, Stagwell Group, Microsoft, MDC Partners, WPP, Publicis Groupe, Veritas, S4 Capital, Street Journal, S4, EMEA Locations: adtech, London

☆ Redditors bank millions of dollars as a group on stock's opening day
▼ + stars: | 2024-03-21 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Reddit power users who participated in the company's IPO made millions of dollars as a group in profits after the stock's big jump in its first day on the market. It's a model that was used by companies like Airbnb , Rivian and Doximity to reward their loyal users and customers. In a reply to LearnedButt, Reddit user friskevision wrote, "Although I didn't invest as much as you, I did make a quick $1,500. Reddit user Reepicheepee made a small investment in the shares. The Reddit user Galactic responded, "High-5, fellow DSP dumper," adding, "Never thought this site would make me money, but here we are!"

Persons: Redditors, Drew Vollero, Axios, —, LearnedButt, friskevision, Reddit, blackberrydoughnuts, Reepicheepee, follysurfer, subreddit, Steve Huffman, Huffman, Redditor erjo5055 Organizations: New York Stock Exchange, Inc, CNBC, GameStop, AMC Entertainment, Galactic Locations: It's

☆ Reddit power users balk at chance to participate in IPO as Wall Street debut nears
▼ + stars: | 2024-03-20 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +10 min

It's not just market conditions that have Reddit moderators like Gilbert forgoing the investment opportunity. Reddit has long had a rocky relationship with moderators and the site's most dedicated users, or Redditors. In total, Reddit said underwriters have reserved 1.76 million of the 8 million shares in the IPO for the DSP. Meme stocksOf all companies, Reddit knows something about stock market volatility. However, given the dearth of tech IPOs since the start of 2022, White said Reddit's offering is "probably a little more risky."

Persons: Jonathan Raa, Sarah Gilbert, she's, She's, Airbnb, Doximity, Reddit's, Klaviyo —, It's, Gilbert forgoing, Reddit, Steve Huffman, Gilbert, you've, Alexis Ohanian, Twitch, BuckRowdy, Joshua White, White, FormicaDinette33, subreddits, it's, Wrestlegirl, Maharaj, shouldn't, He's, jeering, Courtnie Swearingen, Victoria Taylor, Swearingen, San, — CNBC's Cameron Costa Organizations: Nurphoto, Getty, New York Stock Exchange, Cornell University's Citizens, Technology, Google, YouTube, Facebook, CNBC, GameStop, AMC Entertainment, Vanderbilt University Locations: New, Chicago, San Francisco

☆ A 'server anomaly' that made it look like some advertisers were bidding billions of dollars sent the adtech industry into chaos
▼ + stars: | 2024-03-18 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementBusiness Insider confirmed that the cause of the error was a brief "server anomaly" at PubMatic, an adtech company. A PubMatic spokesperson said the anomaly, at one of its US data centers, caused "abnormally high CPMs being passed to the publisher ad server on a limited number of impressions." The PubMatic error occurred in the communication that happened between the SSP and PubMatic's ad server, according to the company. The actual financial impact for individual publishers and adtech companies is likely to be minimal.

Persons: —, Nicolas Schueller, Adomik, Friday's snafu, Kargo, aren't, PubMatic, Scott Messer Organizations: Service, Business, Publishers, CNN, AMC Networks, Fox, The New York Times, Delta Airlines, Comcast Locations: PubMatic, Friday's

☆ Some advertisers are doubling their Amazon spends at the expense of Meta and Google. Here's what's driving the change.
▼ + stars: | 2024-03-12 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

Read previewAmazon's push to grow its $47 billion ad business beyond its core search ads is starting to gain steam with advertisers. About 70% to 80% of advertisers' Amazon budgets go to search ads that drive sales, said Laura Meyer, founder and CEO of Amazon agency Envision Horizons. But Amazon is increasingly investing in adtech to grow its ad business beyond search placements and better compete with giants like Meta and Google. AdvertisementPower said that brands often spend 8% of Amazon sales on ads — mostly search ads that drive sales. He said clients are now increasing budgets to represent 12% to 15% of Amazon sales, with the incremental dollars going toward Amazon's adtech formats.

Persons: —, Laura Meyer, Patrick Miller, Mark Power, Power, Horizon's Meyer, it's, Ross Walker, They've Organizations: Service, Amazon, Meta, Google, Business, Trade Locations: Acadia

Companies with upcoming IPOs can offer directed share programs to qualifying groups of retail investors to buy IPO stock. Rather than buying shares through a broker, a directed share program allows investors to buy IPO stock directly from the company. AdvertisementCompanies may offer a directed share program to employees, vendors, or, in Reddit's case, loyal users and moderators. The risk involved with directed share programsOne of the risks associated with directed share programs is that a DSP may harm the company's IPO by causing the IPO value to inflate. How to participate in Reddit's directed share programReddit began rolling out directed share program pre-registration invitations to certain users and moderators on February 22, 2024.

Persons: you'll, Reddit, Redditors, Insider's, Will McDonough, McDonough, Airbnb, Uber, —, there's, Reddit's Organizations: Companies, Corestone, New York Stock Exchange, Reddit, IPOs, DSP Locations: IPOs

☆ Kayne West's sampling of icons like Donna Summer and Ozzy Osbourne is a 'clear-cut' case of copyright infringement, legal experts say
▼ + stars: | 2024-02-18 | by ( Hannah Getahun | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Though Ozzy Osbourne left Black Sabbath in 1979, his wife, Sharon Osbourne, told Billboard any songs the band wrote — Osbourne, Tony Iommi, Geezer Butler, and Bill Ward — require the approval of all four members to license. Regardless of the social media feud, legal experts say if true, the unauthorized use of the samples would be a “clear-cut” case of copyright infringement. He didn't dispute it,” entertainment attorney Donald M. Woodard of Carter and Woodard told Business Insider. AdvertisementOsbourne's recent objection to West's sample would be considered a new copyright claim, as the license for use does not permit West to sample the song in perpetuity. In 2022, Chicago artist Marshall Jefferson accused the rapper of using his song “Move Your Body” in the West song “Flowers” without permission.

Persons: —, Ty Dolla, West —, Ye —, Ozzy Osbourne, Donna Summer, West …, Donna Summer's, …, Osbourne, West swiped, Ye, Kanye, Hitler West, he'd, Instagram, Alex Jones, Hitler, Sharon Osbourne, — Osbourne, Tony Iommi, Geezer Butler, Bill Ward —, Rolling Stone, FUGA, Tyrone William Griffin Jr, — hasn't, Sharon, Bianca Censori —, Ozzy, who's, I've, Donald M, Woodard of Carter, Woodard, West, ” Woodard, “, Robert Freund, Freund, Marshall Jefferson, Griffin Organizations: Service, ign, Business, Billboard, West, iTunes, Apple Music, FUGA, Spotify, Amazon Music, Daily Mail, Kanye Locations: Chicago

☆ Infillion has rehired 40 ex-MediaMath staffers as it presses ahead to relaunch the bankrupt former adtech pioneer
▼ + stars: | 2023-12-05 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

"If MediaMath was Will Smith — he had a whole acting career before he slapped Chris Rock in the face," Emrich told Insider. It's been a little over three months since Infillion, a US-based adtech company that owns assets like Gimbal and TrueX, bought MediaMath in a bankruptcy auction for $22 million. Emrich's team at Infillion is on track to relaunch the MediaMath demand-side platform and data management platform before the end of the year. Infillion also wants to integrate MediaMath with its other assets so companies can enhance their own advertising businesses using its tech. With the help of former MediaMath CEO Joe Zawadzki and his venture capital firm Aperiam Ventures, which is advising the company, Infillion has hired back 40 former MediaMath staffers.

Persons: Rob Emrich, they'll, MediaMath, Will Smith —, Chris Rock, Emrich, It's, Infillion, Joe Zawadzki, Carl Millikin, Vince Li, Geoff King Organizations: TrueX, MediaMath's, Google, Business, Aperiam Ventures Locations: US, Infillion, America

☆ Trade Desk shares fall 19% on lower guidance
▼ + stars: | 2023-11-10 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

Shares of digital ad company The Trade Desk fell 19% Friday morning, a day after the company reported third-quarter results and issued weak revenue guidance. Analysts keyed in on the likelihood of softer ad spending in the December quarter. The Trade Desk is one of many companies that have cited weaker ad spending as a reason to exercise caution or temper expectations for the fourth quarter. Meta , Pinterest and Snap all expressed concern over disrupted ad spending due to the Israel-Hamas war. Wolfe Research analysts are concerned over the sustainability of The Trade Desk's growth in connected TV, which is a significant contributor to the company's revenue.

Persons: Wolfe, Needham, Jonathan Vanian, Michael Bloom Organizations: Trade, Wolfe Research, CTV, Needham Locations: Israel

☆ I got accepted to Amazon's DSP program and launched my own delivery business. I now make $3 million in revenue and own 38 vans.
▼ + stars: | 2023-10-29 | by ( Kiara Byrd | ) www.businessinsider.com time to read: +7 min

Sophia Strother became an Amazon Delivery Service Partner in 2020. The article said that for $10,000, anyone could work with Amazon and potentially make $74,000 to $3 million a year. After 18 months, my delivery company grew to become a multimillion-dollar business. AdvertisementAdvertisementIt took almost a year to process my Amazon Delivery Service Partner applicationI submitted an online application, a resume, and some financial documents. However, I don't directly control the growth of my business — Amazon does.

Persons: Sophia Strother, Strother, —, I've, I'm, that's, we're, haven't Organizations: Amazon, Service, L2E Industries, Delivery, Las, Austin, Industries, — Locations: Austin , Texas, Seattle , Washington, Las Vegas, Central Texas, Texas

☆ UBS upgrades shares of this entertainment conglomerate, sees nearly 20% upside
▼ + stars: | 2023-10-03 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Deals with emerging music platforms and a move toward newer streaming payment models are set to boost Warner Music Group , according to UBS. Warner Music Group stock is down 11% year to date, providing an attractive entry point for investors, Levi wrote. Additionally, the analyst believes Warner Music Group stands to benefit as the music industry moves toward new deals designed to better reward artists. Simultaneously, these updated music streaming payment models should reduce fraudulent nonmusic streams. Despite the stock's year-to-date losses, Warner Music is up 19% over the past three months.

Persons: Levi, Bryan Castellani, — CNBC's Michael Bloom Organizations: Warner Music Group, UBS, Warner Music

☆ UPS drivers' $170,000 pay package has some Amazon drivers thinking it's time to quit. They make about $18 an hour.
▼ + stars: | 2023-09-23 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Jokes and memes are being shared around their facility about UPS drivers winning a $170,000 deal. The pay gap between UPS drivers and Amazon drivers has even inspired memes on Reddit. The memes refer to Amazon's contracted drivers as "broke" compared to UPS drivers who make six figures, including benefits, in some areas. Two Arkansas-based drivers who work for an Amazon Delivery Service Partner, or DSP, told Insider the joke is on them. Both said they encounter UPS drivers and realize the Amazon drivers are delivering "twice as many" packages.

Persons: Amazon's, Jordan Talmon, Talmon, Simone Griffin, Hunter Deaver, who's, Deaver, Griffin Organizations: DSP, Service, UPS, Teamsters, Amazon Locations: Arkansas, Wall, Silicon, California

☆ Amazon says it's boosting pay for contract delivery drivers
▼ + stars: | 2023-09-12 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon said it plans to boost wages for contracted drivers as part of a $440 million investment this year into its third-party delivery program but declined to say by how much. The DSP program, launched in 2018, comprises about 279,000 drivers, often distinguishable by blue Amazon-branded vans, who are responsible for delivering packages the last few miles to shoppers' doorsteps. The DSPs regularly pay above the minimum set by Amazon, and it audits DSP wages "on a regular basis," Tomay said. The DSP program is a key weapon for Amazon's logistics arsenal that has allowed it to reduce its reliance on carriers such as the U.S. Critics have argued Amazon relies on subcontracted delivery drivers to dodge liability and avoid unionization.

Persons: Beryl Tomay, Tomay Organizations: Amazon, U.S . Postal Service, FedEx, International Brotherhood of Teamsters, Teamsters, Critics Locations: U.S, California

Competition for buy-side jobs, including at private equity firms and hedge funds, can be fierce. Insider identified the 13 recruiting firms aspiring dealmakers and traders should know for a buy-side job. The buy-side hiring spree is expected to continue despite a slowdown in mergers and acquisitions — a cornerstone of private equity investing. BellCast Partners works with mega funds, middle market funds, infrastructure funds, impact funds, real estate private equity funds, sector-focused funds, sovereign wealth funds, family offices, and credit funds. Today it does searches in private equity, growth equity, distressed, credit, venture capital, hedge funds, family offices, and select investment banks.

Persons: headhunting, Brain O'Callaghan, John Arbolino, Arbolino, Amity, Pamela Esterson, Susanna Nichols, Nichols, Esterson, Danielle Caston Strazzini, Alison Bellino Johnson, BellCast, Caston Strazzini, Jill Pierce, Spencer Stuart, Pierce, —, Brian O'Callaghan, it's, Renee Hylton, Keith Mann, Josh Grauer, Grauer, Mann, Adam Zoia, Annette Krassner, Katie Cunningham, Sarah Armstrong, Cunningham, Armstrong, Anna Brady, Janelle Matthews, Beth Grossman, Brady, they've, Morgan Stanley Eleni Henkel, Henkel, Leah Trabich, HSP, Carlyle, Warburg Pincus, Adam Kahn, Kahn, Anthony Keizner, Keizner, Nina Swift, Marty Brady, Vedica Qalbani, Qalbani, Lindsey Mead, Jessica Wu, Michael Garmisa, SearchOne, Sheri Gellman, Gellman Organizations: Citadel, nab, Boothroyd, Co, Wall, Amity Search Partners, Palm Beach Staff, SG Partners, Bain Capital, Centerbridge Partners, Trian Partners, BellCast, Charlotte Staff, CPI, BellCast Partners, Investor Relations, Nashville, San Francisco, Wharton, Harvard, Stanford, New York Staff, Partners, San Francisco Staff, Los Angeles Staff, TPG, Thoma Bravo, Bessemer Venture Partners, EQT, Elliott, Equity, KKR, ICONIQ, Spectrum Equity, Henkel Search, Search Partners, New York, Oxbridge, Nashville Staff, Time Warner, Indiana University, SG Locations: New York, San Francisco, Austin, San Diego, Chicago, Los Angeles , New York, Phoenix, West Coast, Los Angeles, NYC, California, United States, Boston, Dallas, Atlanta, Columbia, Latin America, Asia, Europe, San Francisco , New York, Bay, Gold, Los Angeles , Greenwich, Nashville, Amity, South Florida

☆ Adtech firm The Trade Desk has a plan to reduce the cost of digital ads
▼ + stars: | 2023-08-24 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

The Trade Desk will start undercutting the fees publisher adtech firms tack on to digital ads. The adtech used by publishers often inaccurately prices their inventory, said a Trade Desk exec. Adtech firm The Trade Desk is about to execute a plan to lower the price advertisers pay for digital ads. The Trade Desk operates software called a "demand-side platform" that advertisers use to buy ads across the internet. While other DSPs occasionally send low-ball bids, publishers might be more willing to look at The Trade Desk's bids due to the large amount of advertisers using its platform.

Persons: SSPs, Will Doherty, Doherty, Chris Kane, Adam Soroca, aren't Organizations: Google, Jounce Media, Trade

☆ Amazon is quietly building a publisher-focused ad product team to grow its $37 billion ad business
▼ + stars: | 2023-08-11 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

The tech will help publishers sell ads on and off Amazon, according to job postings. The retail giant has 11 job postings for a new team called "PubTech" that will be part of Amazon Ads. The Amazon Ads' team is building products for first-party publishers that have channels on Amazon — like Twitch, FireTV, and Freevee — as well as third-party web publishers, according to the job listings. While Amazon does help publishers sell ads through a unit called Amazon Publisher Services, that unit is not part of Amazon Ads, and those services require publishers work with third-party SSPs. The core of Amazon's $37 billion ad business are search ads, and its ad division has mostly focused on building tools for advertisers.

Persons: Twitch, Freevee —, Ameet Shah, Magnite Organizations: Amazon, Google, PubTech, Ads, Amazon Publisher Services, Prohaska Consulting, Exchange, Microsoft, Trade Locations: what's

☆ MediaMath founder Joe Zawadzki's 'Project Phoenix' looks to raise at least $10 million to help buy back the bankrupt adtech company
▼ + stars: | 2023-08-11 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

"Project Phoenix" is seeking to raise at least $10 million in a SAFE financing. Project Phoenix is being operated by team members of Zawadzki's VC fund AperiamVentures. Project Phoenix, registered as Phoenix Project Acquisition Inc., is raising the investment with a "post-money valuation cap" of $20 million — the maximum price at which investors can convert their SAFE investment notes into equity. A person familiar with the matter said it was likely Project Phoenix would need to raise further funds if it wins the auction. Correction: August 11, 2023 — An earlier version of this story misstated the date of bankruptcy auction.

Persons: Joe Zawadzki, Jeffrey Hirsch, Zawadzki, Hirsch didn't, MediaMath, MediaMath's Organizations: Phoenix, Inc, Google Locations: AperiamVentures, Delaware, York

☆ India's Jio Financial Services, BlackRock to launch asset management venture
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Anushree Fadnavis/File PhotoMUMBAI, July 26 (Reuters) - India's Jio Financial Services (JIOF.NS), part of billionaire Mukesh Ambani led Reliance Group, and U.S.-based BlackRock Inc (BLK.N) will form a 50:50 joint venture to launch asset management services in India. The two companies are targeting an initial investment of $150 million each in the joint venture, Jio Financial said in a statement on Wednesday. The announcement comes days after Jio Financial Services was demerged from Reliance Industries, with the markets ascribing a valuation of nearly $20 billion to the venture which is yet to build out a business in India's fast growing financial services sector. India's asset management industry has seen rapid growth in recent years and has 44.3 trillion Indian rupees ($540.4 billion) in assets under management. The joint venture will launch a "digital-first" offering following regulatory approvals, said the statement, without giving a timeline within which it plans to begin operations.

Persons: Anushree, Mukesh Ambani, Hitesh Sethia, Larry Fink, AngelOne, Ira Dugal, Kirsten Donovan, David Evans Organizations: Mobile, REUTERS, Financial, Reliance Group, BlackRock Inc, Jio, Jio Financial, Reliance Industries, Group, BlackRock, Jio Financial Services, Thomson Locations: Pragati, New Delhi, India, MUMBAI, U.S

☆ Fact Check-Ireland doesn't have a higher rate of Jobseeker's Allowance for migrants
▼ + stars: | 2023-07-18 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

The posts (seen here and here) include a picture of a receipt for a 584-euro Jobseeker’s payment. Ireland's DSP says the maximum weekly rate for a single person is 220 euros (here). In its commentary to Reuters, the DSP underlined the rates are equal for all and there are no special rates in place for migrants or other individuals. Ireland pays no more than 220 euros in a Jobseeker’s Allowance per week to a single person but will pay more to families or people with any dependents. The country does not have special Jobseeker’s Allowance rates for migrants.

Persons: ”, “ That’s, Read Organizations: Irish Department of Social Protection, Twitter, Reuters, Ireland Locations: Ireland

☆ I've been delivering hundreds of Amazon packages for Prime Day. It's hot and the job is draining. I don't think I'll do this again.
▼ + stars: | 2023-07-15 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

Around Amazon's Prime Day, delivery drivers are faced with long shifts and mountains of packages. He described what it's like working Amazon's massive Prime Day sale, which took place on July 11 and 12. I don't think it's as bad as it could be, but I mean, I'm just speaking for myself. I think it's a nice touch, but I mean, I don't think it's anything major, you know? I just don't think for the amount that we get paid, that the work is really worth it sometimes.

Persons: didn't, We've, we're, I've, I'm, We're Organizations: Service, Amazon Locations: Wall, Silicon, New York

☆ Amazon's new pitch to advertisers is aimed at stealing dollars from Google and The Trade Desk
▼ + stars: | 2023-06-30 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

Ad buyers said Amazon's demand-side platform is going head-to-head with Google and The Trade Desk. Amazon is making a new pitch to cut into the ad dollars that marketers spend with rivals like Google and The Trade Desk, multiple ad industry sources said. The advertising consultancy Jounce Media predicts that Google, The Trade Desk, and Amazon will collectively control about 63% of the DSP market share this year, with Google owning 41%, The Trade Desk capturing 12%, and Amazon getting 11%. Amazon's DSP has historically not been as strong in performance as Google and The Trade Desk, said Travis Johnson, global CEO of Amazon agency Podean. Google and The Trade Desk declined to comment for this story.

Persons: Hannah Grobmyer, Travis Johnson, Podean's Johnson, Pete Stein, Merkle, Stein Organizations: Google, Amazon, Jounce Media, Kepler Group . Finance, Kepler Group, CNN

In the fiscal year 2022 through 2023, HDFC raised 784.15 billion from the debt market, higher than the 500 billion rupees a year before. It has raised 460.62 billion rupees since April this year. Mutual funds hold around 270 billion rupees of HDFC's bonds as of May 31, data from information service provider Prime Database showed. Rival LIC Housing Finance may be the biggest beneficiary of HDFC exiting the market, fund managers said. Other competitors such as ICICI Home Finance, Bajaj Housing Finance, Tata Capital Housing Finance and Shriram Housing Finance could also see an increase in demand for their debt issuances, they said.

Persons: HDFC, Raju Sharma, HFCs, Ajay Manglunia, Laukik Bagwe, Bagwe, IDBI Mutual Fund's Sharma, Dharamraj Dhutia, Dhanya Ann Thoppil Organizations: Housing Development Finance Corp, HDFC Bank, Reuters, IDBI Mutual Fund, Securities and Exchange Board of India, JM Financial, AAA, Mutual, LIC, Finance, ICICI Home Finance, Bajaj Housing Finance, Tata Capital Housing Finance, Shriram Housing Finance, Mutual Fund, IDBI Mutual, Thomson Locations: MUMBAI, India, HDFC

☆ Amazon wants its delivery companies to repair more of their broken vans — causing some couriers to panic
▼ + stars: | 2023-06-15 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Amazon's delivery service partners will soon need 95% of their vans ready for service at all times. Some Amazon delivery companies are panicking over a new rule that would force them to keep fewer vans in need of repair. One DSP owner called the change a "giant nightmare" for small businesses already struggling with costs. An Amazon spokesperson told Insider the company is working with Rivian to provide repair options. Amazon told Insider the changes are intended to improve safety for delivery associates and maximize future revenue for DSPs.

Persons: it's, Rivian, Jimmy Wilson, Wilson, That's Organizations: Amazon, Partners, DSPs, Vehicles, West Coast, Coast DSP, DSP Locations: Coast

☆ Buy this 'best-in-class' ad stock that can jump more than 20%, Morgan Stanley says
▼ + stars: | 2023-06-02 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Morgan Stanley says online ad company The Trade Desk is a top pick set to thrive in a stabilizing market for sales. The bank upgraded shares of The Trade Desk to overweight from equal-weight Thursday and raised its price target to $90 per share from $60. TTD YTD mountain Shares of The Trade Desk are up more than 63% from the start of 2023. Analyst Matthew Cost said the company is poised to benefit from growth in both ad-supported streaming as well as retail media. "We believe TTD will be able leverage its position as an independent player to sign more retail media partners … and ultimately be a leader in offsite retail media advertising," Cost said.

Persons: Morgan Stanley, Morgan Stanley's, Matthew Cost, …, — CNBC's Michael Bloom

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