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☆ Spruce Point Capital publishes short report on Floor and Decor
▼ + stars: | 2024-07-01 | 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 EmailSpruce Point Capital publishes short report on Floor and DecorBen Axler, Spruce Point Capital Management founder and CIO, joins 'Money Movers' to discuss the company's short report on Floor & Decor, whether the company's recent expansion is good for the company, and more.

Persons: Ben Organizations: Capital, Point Capital Management Locations: Point

☆ Stocks making the biggest moves midday: Chewy, GameStop, Boeing, Norwegian Cruise Line and more
▼ + stars: | 2024-07-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Boeing , Spirit AeroSystems — Boeing on Monday said it would buy back fuselage maker Spirit AeroSystems in a $4.7 billion all-stock deal. Trump Media & Technology Group — Shares of Trump Media & Technology Group rose 3% following a roughly 11% loss during Friday's session. Nio — The Chinese electric vehicle stock rose 6% on Monday after the company said vehicle deliveries rose nearly 100% in June . Tesla — The electric vehicle stock popped 6%. NextEra Energy Partners — The renewable energy stock dropped 5%.

Persons: Keith Gill, Joe Biden, Donald Trump, Birkenstock, Nio, Tesla, Beryl, —, Jesse Pound, Michelle Fox, Alex Harring, Sarah Min, Hakyung Kim Organizations: GameStop, Boeing, Trump Media & Technology, Trump Media & Technology Group, UBS, Point Capital Management, NextEra Energy Partners, Royal Bank of Canada, Cruise, Royal Locations: Point, Grenada, Royal Caribbean

The ADP National Employment report showed private payrolls rose 89,000 in September, much lower than the expected 153,000. Focus now shifts to the more comprehensive non-farm payrolls data due on Friday. Separate data showed the U.S. services sector slowed in September as new orders fell to a nine-month low. Declining issues outnumbered advancers for a 1.02-to-1 ratio on the NYSE and a 1.10-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 19 new lows, while the Nasdaq recorded 4 new highs and 162 new lows.

Persons: Brendan McDermid, Thomas Hayes, Kevin McCarthy, Helen of Troy, Rollins, advancers, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Companies, Nasdaq, Treasury, Microsoft, Nvidia, Great, Capital LLC, Dow, Traders, Wednesday, Dow Jones, U.S . House, Point Capital Management, NYSE, Thomson Locations: New York City, U.S, HELE.O, Point, Bengaluru

Five hedge funds shared five trading ideas on global property markets, adding that they cannot reveal trading positions for regulatory reasons. CM REITs are companies that own mortgages of multi-family residential homes as well as commercial real estate loans. Cell phone data Litt bought to research a REIT run by Alexandria Real Estate Equities (ARE.N), showed that buildings which that were supposed to be almost fully occupied were only half full. Alexandria Real Estate responded pointing to public filings which said that it was the advancement of science and related intellectual property in Alexandria’s Labspace buildings, and not employee foot traffic that drove its demand for space. But Litt believes that the shift away from office working will also hurt life and sciences real estate, generally.

Persons: Jonathan Mizrachi, CMBSs, David Amaryan, Ben Hunsaker, Hunsaker, Jonathan Litt, Litt, ANSON, Moez Kassam, Vistry, Kassam, Nell Mackenzie, Dhara Ranasinghe, Alison Williams Organizations: Property, Capital, Beach, Beach Point Capital Management, REITs, Alexandria Real, Reuters, Vistry, Thomson Locations: York, Russia, Russia's, Ukraine, Armenia, Beach Point, Alexandria, Alexandria’s, London, Carolina, New York

☆ Spruce Point no longer holding short position in Ryan Reynolds-backed Nuvei
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - Spruce Point Capital Management is no longer holding a short position in Nuvei (NVEI.TO), the Canadian fintech firm backed by Ryan Reynolds, after the company's stock reached the short-seller's price target range. Spruce Point disclosed the decision in a tweet on Wednesday, sending U.S.-listed shares of Nuvei up nearly 1.4% at $28.75. In its short report in April, Spruce Point had alleged that Nuvei's $1.3 billion acquisition of Paya Holdings "appears troubled," as Paya was losing market share before the takeover. Both Toronto- and Nasdaq-listed shares of Nuvei have lost nearly a third of their value since Spruce Point disclosed its short position in April. Reporting by Niket Nishant in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Ryan Reynolds, Paya, Nuvei's, Niket, Maju Samuel Organizations: Capital Management, U.S, Paya Holdings, Toronto, Nasdaq, Nuvei, Thomson Locations: Nuvei, Montreal, Bengaluru

In their joint venture agreement, Baker Hughes says it uses C3.ai's solutions and also sells the product to companies in the oil and gas industry. CNBC's "Last Call" aired a report Thursday night on the investor lawsuit against C3.ai and the company's relationship with Baker Hughes. The lawsuit says the publicity about the massive Baker Hughes sales force "artificially inflated C3's stock" when the company first went public. Richard Drew | APIn an April 2023 filing, Baker Hughes announced it divested 1.7 million C3.ai shares, bringing its ownership to 6.9 million shares. Kerrisdale pointed to C3.ai's "highly conspicuous growth" in unbilled receivables, largely from Baker Hughes, and wrote that "accounting red flags abound with the Baker Hughes relationship."

Persons: Tom Siebel, Siebel, Thomas M, Chris J, Ratcliffe, it's, Baker Hughes, Logan Roy, Larry Ellison, Yasmin Khorram, Dan Brennan, We've, Brennan, he's, CNBC's, Reed Kathrein, Theranos, —, Kathrein, Richard Drew, they'd, unbilled, receivables, Siebel's, Ken Goldman, Goldman, Gil Luria, Davidson, Luria, Nick Wells, Scott Zamost, Sam Woodward, Tom Siebel's Organizations: Siebel Systems, Oracle, Bloomberg Tech Summit, Bloomberg, Getty, CNBC, Forbes, Siebel, C3, U.S . Department of Defense, Shell, Northern District of, SEC, Twitter, " Traders, New York Stock Exchange, AP, Point Capital Management, Spotify, C3 Energy, Revenue, Wall Locations: London, Redwood City , CA, Redwood City , California, Northern District, Northern District of California, unbilled receivables, Point

☆ Edmond de Rothschild to open advisory office in Dubai
▼ + stars: | 2023-02-28 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +2 min

DUBAI, Feb 28 (Reuters) - Edmond de Rothschild Group, which specialises in asset management and private banking, said on Tuesday it is expanding its presence in Dubai with an advisory office as it looks to the fast-growing Middle East hub to cater to an affluent pool of clients. It previously had a representative office in Dubai, but said the new office will "enhance" its ability to serve clients in the region. Edmond de Rothschild plans to hire about five people in Dubai next year, a spokesperson said. A growing number of hedge funds have set up shop in Dubai, attracted by lower licensing fees and capital requirements for the industry, including Millennium Management, ExodusPoint Capital Management and BlueCrest. French private equity firm Ardian said last month it was opening an office in neighbouring Abu Dhabi, capital of the United Arab Emirates, while CVC opened an office in Dubai last year.

☆ C3.ai's valuation is all based on speculation and hope, says Spruce Point Capital's Ben Axler
▼ + stars: | 2023-02-17 | 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 EmailC3.ai's valuation is all based on speculation and hope, says Spruce Point Capital's Ben AxlerBen Axler from Spruce Point Capital Management joins 'Closing Bell' to discuss his reasons for shorting C3.ai, his concerns around C3.ai's product model and questions around how the company will make money.

☆ Here's what mattered in hedge funds and asset and wealth management in 2022
▼ + stars: | 2022-12-28 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +4 min

To be sure, some big investors like macro hedge funds have been notable exceptions to the market gloom. As we do our own account settling for the year, here is some of our best reporting on the buy-side: hedge funds, asset managers, and wealth management. Tiger, Tiger burning bright. Four years later, the hedge fund, founded by two former Millennium executives, has yet to live up to the lofty expectations for it. Among the money managers benefiting from these political moves are Bank of New York Mellon and Federated Hermes.

☆ Stocks making the biggest moves midday: Apple, Netflix, Biogen, Canopy Growth and more
▼ + stars: | 2022-09-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Apple — Apple shares fell 3.4% on Wednesday following a report that the company is ditching plans to boost new iPhone production. Instead of aiming to increase output by 6 million units in the second half of the year as it had planned, it will shoot for 90 million units, unchanged from the prior year, according to Bloomberg. Biogen — Shares of the biopharmaceutical company soared 37% following upbeat results from its experimental Alzheimer's drug study and a slew of upgrades from analysts. Biogen and its Japanese partner Eisai said the drug reduced cognitive decline by 27% and slowed the progression of the disease. Canopy Growth — Shares of the cannabis company were up 2.6% on plans to pull back from its retail operations in Canada.

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