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☆ We are going into a credit picker's market, says Oaktree's David Rosenberg
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are going into a credit picker's market, says Oaktree's David RosenbergDavid Rosenberg, Oaktree head of liquid performing credit, joins 'Money Movers' to discuss how Rosenberg sees the current cycle of rates, what it would take for the Federal Reserve to cut rates, and more.

Persons: Oaktree's David Rosenberg David Rosenberg, Oaktree, Rosenberg Organizations: Federal Reserve

☆ 'Every bubble ensues from widespread conviction,' says Oaktree's Howard Marks amid AI boom
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Every bubble ensues from widespread conviction,' says Oaktree's Howard Marks amid AI boomHoward Marks, co-chairman of Oaktree Capital Management, discusses the AI boom and market bubbles, saying "this stuff isn't easy."

Persons: Oaktree's Howard Marks, Howard Marks Organizations: Oaktree Capital Management

☆ Watch CNBC's full interview with Oaktree's Howard Marks on AI, interest rates and more
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Oaktree's Howard Marks on AI, interest rates and moreHoward Marks, co-chairman of Oaktree Capital Management, discusses his outlook on the "Magnificent Seven" stocks, interest rates, and how credit should play an important role in portfolios.

Persons: Oaktree's Howard Marks, Howard Marks Organizations: Oaktree Capital Management

The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023. The large numbers mean Filipinos are disproportionately exposed to the dangers posed by Houthis targeting ships in the Red Sea. Two Filipino crew members remain in Djibouti to receive medical treatment. Most of the Filipino crew members on board returned to Manila on Tuesday, reuniting with their families after their ordeal at sea. It’s very painful for us, especially for the families,” Mark Dagohoy, one of the ship’s crew members, told journalists after their return.

Persons: It’s, “ There’s, ”, Eduardo de Vega, Israel, Houthis, “, Al, ” Houthi, Nasr Al, Din Amer, De Vega, de Vega, They’re, Mohammed Al, it’s, Ray Car, Abraham Ungar, Eloisa Lopez, Houthi, Yahya Sarea, ” Mark Dagohoy, Celine Alkhaldi, Paul P, Murphy Organizations: CNN, Galaxy Leader, Houthi Military Media, Reuters, Philippines, Yemeni, Nippon, Ray, Ray Car Carriers, Ambrey Analytics, Ambrey, Indian Navy, Manila International Airport, “, Liberian, Financial Times, Oaktree Locations: Filipino, Gaza, Red, Romanian, Iran, Yemen, Cairo, Philippines, Aden, Saudi, Hodeidah, Suez, Africa, Bab, Mandab, United States, Britain, Djibouti, Manila

☆ Private credit may offer high yields, but investors should tread carefully. What to know
▼ + stars: | 2024-02-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

Private credit has become a hot investment on Wall Street as institutional investors seek out alternative investments with attractive dividends. "Investors might consider allocating a portion of their portfolio to private credit, depending on their individual risk tolerance, investment horizon and financial goals." Private credit funds have yields generally in the low-teens, although it can vary, he said. In a February report on U.S. life insurance ratings, Fitch Ratings said, "elevated private credit borrower leverage and a relative deterioration in private credit terms and conditions during more competitive lending environments are adding to pressures in the credit quality of private credit assets." The majority of the portfolio is in direct lending private credit, but a portion is also in publicly-traded securities of larger corporate issuers.

Persons: SoFi, Vivek Paul, Paul, Goldman, Greg Olafson, David Solomon, Fitch, Lisa Kwasnowski, Blackstone, Kwasnowski, Chuck Failla, it's, Failla, Oppenheimer, Mitchel Penn, Penn, Ares Capital, They've Organizations: Street, Franklin BSP Private Credit Fund, CNBC, Wall, BlackRock, Research, Management, UBS, Blackstone Private Credit Fund, Sovereign Financial Group, Securities and Exchange Commission, Owl, Golub, Ares, Sixth, SEC Locations: DBRS Morningstar's

☆ Fortress’s Drew McKnight and Oaktree’s Armen Panossian on private credit in 2024
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFortress’s Drew McKnight and Oaktree’s Armen Panossian on private credit in 2024Drew McKnight, Co-CEO and managing partner of Fortress; Armen Panossian, incoming Co-CEO of Oaktree, join\ 'Fast Money' to talk private credit, the Federal Reserve, macro trends their watching and more.

Persons: Fortress’s Drew McKnight, Oaktree’s Armen Panossian, Drew McKnight, Armen Panossian Organizations: Oaktree, Federal Reserve

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

☆ Some options trades for avoiding an asset bubble and other macroeconomic troubles
▼ + stars: | 2024-01-11 | by ( Michael Khouw | ) www.cnbc.com time to read: +9 min

There are some trades for investors looking to avoid a possible asset bubble and other potholes that could be ahead. The standard 30-year fixed mortgage rate rose even further, a function of both the rising risk-free rate and the rising spread. Buying bonds has interest rate risk. Moreover, the spread between mortgage rates and Treasuries is unusually high. Risk-free rates stay static or even rise mildly, but if the spread narrows mortgage rates could fall, a tailwind for a mortgage portfolio.

Persons: There's, Murray Rothbard, Milton Friedman, Ben Bernanke, Bernanke's, Janet Yellen, Jerome Powell, Howard Marks, Charlie Munger, Berkshire Hathaway, Marks, Steve Eisman, Neuberger Berman, they've Organizations: Federal Reserve, Fed, Federal Reserve Bank, Vanguard Value, Technology, MBS Locations: U.S, deflate, Berkshire

Twin Rivers Farm could break records as Tennessee's priciest home if it fetches its $65 million asking price. Apart from the 10,626 square foot main residence, the estate features a barn, guesthouse and a man-made lake, stocked with trout for fishing and swimming. McEwen GroupThe previous record for the most expensive home sold in the state, set in 2010, stood at $28 million. McEwen GroupThe estate has multiple hidden passages leading to a game room, a safe room and a wine cellar. McEwen GroupThe property's barn houses the Keeles' chickens and sheep.

Persons: Tennessee's, Justin Timberlake, Nicole Kidman, Dan McEwen, McEwen, It's, McEwen Group Larry Keele, Larry, He's, " McEwen Organizations: McEwen Group, CNBC, McEwen, Oaktree Locations: Nashville, Leipers, Middle Tennessee, New York , Illinois, California, Twin Rivers, Rivers, Los Angeles, LA, Tennessee, France

☆ The Secrets to Charlie Munger’s Success
▼ + stars: | 2023-11-28 | by ( Jason Zweig | ) www.wsj.com time to read: 1 min

Charlie Munger in 2019 at his home in Los Angeles. Photo: Michael Lewis for The Wall Street JournalBusiness and financial leaders made frequent pilgrimages to Los Angeles to hear Charlie Munger ’s thoughts as he held court while peering through thick eyeglasses over high, rosy cheekbones. Among the attendees at his weekly “Friday lunch club” and periodic dinners were John and Patrick Collison , founders of the online payment firm Stripe; Bobby Kotick , chief executive of videogame company Activision Blizzard ; Pradeep Khosla , chancellor of the University of California, San Diego; Maria Pope , chief executive of Portland General Electric , Oregon’s largest utility; and Howard Marks , co-founder of investment firm Oaktree Capital Management.

Persons: Charlie Munger, Michael Lewis, Charlie Munger ’, John, Patrick Collison, Bobby Kotick, Pradeep Khosla, Maria Pope, Howard Marks Organizations: The Wall Street Journal, Activision Blizzard, University of California, Portland General Electric, Oaktree Capital Management Locations: Los Angeles, San Diego, Portland

☆ What we'd like to see from 3 economic readings and 2 earnings reports next week
▼ + stars: | 2023-11-11 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major averages advanced again this week as earnings results came in largely better than expected, interest rates stabilized and oil prices dropped below $80 a barrel. Looking ahead, we'll get a couple more earnings results and some key inflationary data to chew on. In this past week, we bought 150 shares of DuPont (DD) and added 75 shares of Wynn Resorts (WYNN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Wynn Resort's, WYNN, we'll, That's, —, we're, it's, PANW, Tyson, Henry Schein, Spero, Sanara, Sara Lee Corp, JD.com, Woodward, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Nasdaq, Dow Jones, Coterra Energy, Emerson, Disney, PPI, TJX, Palo Alto Networks, DuPont, Wynn Resorts, WYNN, Tyson Foods, TSN, Tower Semiconductor, Partners, Genius Sports, Spero Therapeutics, Star Bulk Carriers Corp, Beauty Health, Asure, Gladstone Capital Corp, TeraWulf Inc, Harrow Health, Afya, Sea, Paysafe Group Holdings, Solar Inc, Aramark Holdings Corp, Lending, Holding, BioXcel Therapeutics, IHS Inc, Rewalk Robotics, Acurx Pharmaceuticals, Energizer Holdings, Power Solutions, Rekor Systems, Wine Estates, Momentus Inc, SIGMA Lithium Corporation, AlTi, QuickLogic Corporation, Arcturus Therapeutics, Dada Nexus, Solutions, Target Corp, Parts, ZIM Integrated Shipping Services, Alto Networks, Cisco Systems, Chemical & Mining Co, PennantPark Investment Corp, Copa Holdings S.A, Walmart, Arcos Dorados Holdings, ARCO, NICE, Body, Warner Music Group Corp, Ross Stores, Homes, Dolby Laboratories Inc, American Software, ESCO Technologies, ZTO, International, BJ's Wholesale, Jim Cramer's Charitable, CNBC, Maxx Locations: Macau, Chile, Cayman, Pasadena , California

☆ How Morgan Stanley exec Ted Pick rose from 'rough edged' deal junkie to CEO
▼ + stars: | 2023-10-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +21 min

Editor's note: Morgan Stanley announced on October 25 that Ted Pick would replace James Gorman as CEO. Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, James Gorman, Pick, Gucci loafers, Blackstone, Tony James, Morgan, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, —, Hayley Cuccinello Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long, hcuccinello@insider.com

☆ Jeremy Siegel says Treasurys crashed because everyone forgot they're a bad inflation hedge while stocks 'do beautifully'
▼ + stars: | 2023-10-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bond yields have surged as investors realize the asset is a bad inflation hedge, Jeremy Siegel told CNBC. Instead, stocks are a much better hedge and will perform "beautifully" against inflation, he added. "Bonds are great hedges against geopolitical risk, against financial crises, but they're very bad against inflation." AdvertisementAdvertisementThe bond market crash of recent weeks stems from the asset class' ineffectiveness against inflation, Wharton professor Jeremy Siegel told CNBC. Though Siegel sees inflation slowing down, he warned that growing federal deficits and other factors could bring back inflation to pandemic levels.

Persons: Jeremy Siegel, Bonds, —, Wharton, Siegel, that's, Howard Marks Organizations: CNBC, Service, Treasury, Oaktree Capital

Private credit players like HPS Investment Partners and Blue Owl Capital (OWL.N) have a workaround, but it could prompt a painful hangover. Cashed-up private credit funds offered sums previously unseen outside of traditional bank financing on riskier deals. Private credit assets swelled 460% to over $1.4 trillion between 2010 and the end of 2022, Preqin says. Reuters GraphicsThe attraction of “mezz” and similar exotic lending isn’t just that it helps private credit source new deals. In 2021, that dynamic meant private loans briefly became cheaper than liquid, tradable loans – flying in the face of financial orthodoxy.

Persons: –, Zendesk, Preqin, LSEG, HPS, Goldman, Blackstone, Angelo Gordon, dealmaking, George Hay, Oliver Taslic Organizations: Reuters, HPS Investment Partners, Owl, Blackstone, Apollo, Treasury, Private, Management, Partners, Reuters Graphics Reuters, Sabre, Companies, Wolf, ADC Therapeutics, Equity, Thomson Locations: EBITDA

☆ Economy and markets could actually experience trouble going forward: Oaktree's Armen Panossian
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomy and markets could actually experience trouble going forward: Oaktree's Armen PanossianMichael Arougheti, Ares Management Corporation co-founder and CEO, Damien Dwin, Lafayette Square founder and CEO, and Armen Panossian, Oaktree incoming co-CEO, join CNBC's Delivering Alpha 2023 conference to discuss why investors should get involved in private credit amid the possibility of a recession, how returns are being generated despite economic volatility, and more.

Persons: Oaktree's Armen Panossian Michael Arougheti, Damien Dwin, Armen Panossian Organizations: Ares Management Corporation, Lafayette Square, CNBC's, Alpha Locations: Lafayette

☆ Private credit returns are 'very attractive' given the risk, says Oaktree's Armen Panossian
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrivate credit returns are 'very attractive' given the risk, says Oaktree's Armen PanossianMichael Arougheti, Ares Management Corporation co-founder and CEO, Damien Dwin, Lafayette Square founder and CEO, and Armen Panossian, Oaktree incoming co-CEO, join CNBC's Delivering Alpha 2023 conference to discuss why investors should get involved in private credit amid the possibility of a recession, how returns are being generated despite economic volatility, and more.

Persons: Oaktree's Armen Panossian Michael Arougheti, Damien Dwin, Armen Panossian Organizations: Ares Management Corporation, Lafayette Square, CNBC's, Alpha Locations: Lafayette

☆ Good companies are staying private longer, says Ares Management CEO Michael Arougheti
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGood companies are staying private longer, says Ares Management CEO Michael AroughetiMichael Arougheti, Ares Management Corporation co-founder and CEO, Damien Dwin, Lafayette Square founder and CEO, and Armen Panossian, Oaktree incoming co-CEO, join CNBC's Delivering Alpha 2023 conference to discuss why investors should get involved in private credit amid the possibility of a recession, how returns are being generated despite economic volatility, and more.

Persons: Ares, Michael Arougheti Michael Arougheti, Damien Dwin, Armen Panossian Organizations: Ares Management Corporation, Lafayette Square, CNBC's, Alpha Locations: Lafayette

☆ We're focused on large loans to private companies as banks step away, says Oaktree's Panossian
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're focused on large loans to private companies as banks step away, says Oaktree's PanossianArmen Panossian, incoming Oaktree Capital Management co-CEO, joins 'Squawk on the Street' to discuss how big the private credit market is, what's driving the demand for lending, and the risks associated with the private credit market.

Persons: We're, Oaktree's Panossian Armen Panossian Organizations: Oaktree Capital Management

☆ Historically volatile week will test the bull market in stocks
▼ + stars: | 2023-09-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

This historic weakness is well-enshrined in stock market lore and encapsulated in the old chestnut, "Sell Rosh Hashana and buy Yom Kippur." Triple witching refers to each quarter's simultaneous expiration of stock index futures and options and individual stock options. It may be true we are in a bull market, but it is certainly not a typical one. Instead of trying to pick winners, Marks sensibly proposes the opposite: You might also achieve that goal — of producing alpha, or outperformance — by holding fewer of the losers. That is why the vast majority of active stock pickers continue to underperform the market, and why money continues to flow into passive index funds.

Persons: Rosh Hashana, Jonathan Krinsky, Lowry, Howard Marks, Oaktree, Marks, FAANGs, Jesse Livermore, It's Organizations: Triple, Bulls, Apple, Microsoft, Nvidia, Tesla, Facebook, Netflix Locations: Yom, Yom Kippur

For investors who had expected more economic strife, sticking to those calls has become increasingly difficult. "It's going to take longer for rates to rally," said John Madziyire, senior portfolio manager and head of U.S. Treasuries and TIPS at Vanguard Fixed Income Group. "Recession or no recession, we think the probability of higher-for-longer interest rates is far greater than the likelihood of near-term cuts," credit investment firm Oaktree Capital said in a recent note. A re-acceleration in inflation could lead to higher rates than the market has priced in. Some are navigating the uncertainty by combining exposure to higher-yielding short term bonds with long-term bonds in case of a downturn.

Persons: –, Felipe Villarroel, John Madziyire, Oaktree Capital, Danielle Poli, Anthony Woodside, Woodside, Stephen Dover, Chip Hughey, Davide Barbuscia, Richard Chang Organizations: Bond, Federal Reserve, TwentyFour Asset Management, Bank of, Fitch's U.S, Treasury, Oaktree, Fund, Reuters, U.S, Franklin Templeton Investment Solutions, Truist Advisory Services, Vanguard, Thomson Locations: U.S, Oaktree

☆ BioXcel to cut over 50% of jobs as it pivots focus to agitation drug
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

Companies BioXcel Therapeutics Inc FollowAug 14 (Reuters) - BioXcel Therapeutics Inc (BTAI.O) said on Monday it will reduce its workforce by more than 50% to 80 employees from about 190, as the drugmaker shifts its focus towards developing its agitation treatment. The drug, sold under the brand name Igalmi in the U.S., is already approved for use in hospital settings to treat agitation in adult patients with schizophrenia or bipolar disorder. The company plans to reduce in-hospital commercialization expenses, and suspend trials that it no longer deems core to its business. With the job cuts, BioXcel aims to reduce more than 50% of its cash burn to about $80 million on a go-forward annualized basis. Its cash and cash equivalents totaled to $127.5 million as of June 30, compared with $165.5 million as of March 31.

Persons: Sriparna Roy, Krishna Chandra Organizations: BioXcel Therapeutics, BioXcel Therapeutics Inc, Oaktree Fund Administration, Qatar Investment Authority, Thomson Locations: U.S, Bengaluru

☆ Meet Ted Pick, the hard-charging 'deal junkie' who rose to the top at Morgan Stanley the old-fashioned way — and looks poised to succeed James Gorman as CEO
▼ + stars: | 2023-08-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +20 min

Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Succession has traditionally been a bloody sport on Wall Street, and Morgan Stanley is no exception. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, Pick, Gucci loafers, Blackstone, Tony James, Morgan, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, Goldman, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, — Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

☆ Oaktree: It's hard to imagine how a recession would be avoided with rates this high
▼ + stars: | 2023-07-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOaktree: It's hard to imagine how a recession would be avoided with rates this highArmen Panossian, Head of Performing Credit and the incoming Co-CEO of Oaktree Capital Management, discusses the markets, the Fed, and private credit.

Persons: Armen Panossian Organizations: Performing Credit, Oaktree Capital Management

☆ Cyanide maker Draslovka mulls equity raise to drive new mining technology
▼ + stars: | 2023-06-30 | by ( Jan Lopatka | ) www.reuters.com time to read: +3 min

REUTERS/Jan LopatkaPRAGUE, June 30 (Reuters) - Cyanide maker Draslovka is considering an equity fundraising worth hundreds of millions of dollars support the roll out of new technology that could help miners slash use of cyanide, its CEO said in an interview on Friday. The privately-held Czech company is the world's leading sodium cyanide maker. It acquired Australian Mining & Process Solutions last year, which developed innovative glycine leaching technology that can cut cyanide usage in mining by about half, depending on the circumstances. Draslovka hopes the technology will spearhead a transformation of the industry, raising its effectiveness and reducing environmental impacts. Bruzek said Draslovka had another 10 similar potential projects lined up by year-end, including a top nickel and cobalt miner.

Persons: Pavel Bruzek Jr, Jan Lopatka, Draslovka, Bruzek, JP Morgan, Barrick, Emma Rumney Organizations: Draslovka, REUTERS, Australian Mining, U.S, Oaktree Capital Management, Partners, Thomson Locations: Prague, Czech Republic, Jan Lopatka PRAGUE, Czech, London, United States, Sasol, South Africa

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