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☆ Stocks making the biggest moves after hours: Urban Outfitters, Viasat, Toll Brothers and more
▼ + stars: | 2024-05-21 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines after the bell : Urban Outfitters — The clothing retailer added nearly 8% after beating estimates on its first-quarter results. Viasat — Shares of the communications company slid nearly 13% after Viasat posted a loss of 80 cents per share in the fiscal fourth quarter. The result was worse than the loss of 63 cents per share analysts had predicted, according to LSEG. Toll Brothers posted fiscal second-quarter earnings of $4.55 per share on revenue of $2.65 billion. Modine's fiscal fourth-quarter revenue of $603.5 million came in below the $605.4 million expected by analysts, according to FactSet.

Persons: LSEG, —, Darla Mercado Organizations: Urban Outfitters, Viasat —, Viasat, Toll, XP, Modine Manufacturing

☆ Peloton shares drop after it announces refinancing to stave off cash crunch
▼ + stars: | 2024-05-20 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Peloton shares plunged on Monday after the connected fitness company said it is launching a "global refinancing," as it looks to stave off a cash crunch amid falling sales. Peloton plans to use the proceeds to buy back about $800 million of its 0% convertible senior notes, which are currently due in 2026, and refinance its existing term loan. Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground. In a letter to shareholders, the company said it is "mindful" of the timing of its debt maturities, which include convertible notes and a term loan. "Overall, our refinancing goals are to deleverage and extend maturities at a reasonable blended cost of capital," the company said.

Persons: Barry McCarthy, McCarthy, Goldman Sachs Organizations: JPMorgan

☆ Sen. Robert Menendez bribery trial: Opening statements expected in corruption case
▼ + stars: | 2024-05-15 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Senator Robert Menendez (D-NJ), arrives at Federal Court, for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City, U.S., May 14, 2024. Prosecutors and defense attorneys are poised Wednesday to select a full jury and deliver opening statements in the federal bribery trial of Sen. Robert Menendez of New Jersey. Prosecutors will begin their opening statements shortly afterward "if all goes to plan," the judge said. A third New Jersey businessman charged in the case, Jose Uribe, pleaded guilty in March and agreed to cooperate with the federal prosecutors. Nadine Menendez has not been in court with her husband.

Persons: Robert Menendez, Sen, Sidney Stein, Stein, Menendez, Nadine Menendez, Wael Hanna, Fred Daibes, Jose Uribe Organizations: Federal Court, Prosecutors, Robert Menendez of New, Democratic, Benz, Senate Foreign Relations Committee Locations: Jersey, New York City, U.S, Robert Menendez of, Robert Menendez of New Jersey, Manhattan, Egypt, Qatar, New Jersey

☆ Robert Menendez’s Corruption Trial Opens: 5 Takeaways
▼ + stars: | 2024-05-15 | by ( Nicholas Fandos | ) www.nytimes.com time to read: +1 min

The corruption trial of Senator Robert Menendez, a powerful New Jersey Democrat, spun into motion in Manhattan on Wednesday, with combative opening statements and an extraordinary claim by the defense. Speaking directly to the jury, a U.S. prosecutor asserted that Mr. Menendez “put his power up for sale,” trading favors involving Egypt and New Jersey businessmen for gold bars, cash and a Mercedes-Benz convertible. But it was a lawyer for Mr. Menendez who shook the courtroom awake, piling blame on the senator’s wife, Nadine Menendez. Mr. Menendez, 70, betrayed little emotion as he watched the opening statements from the courtroom, where he is facing some of the gravest charges ever leveled against a sitting U.S. senator. Prosecutors have also charged Ms. Menendez, but her trial was delayed until July for health reasons.

Persons: Robert Menendez, Mr, Menendez “, Menendez, Nadine Menendez, Fred Daibes, Wael Hana Organizations: New Jersey Democrat, Benz, Prosecutors Locations: New Jersey, Manhattan, U.S, Egypt

☆ Bob Menendez: Here’s what prosecutors say bought off a US senator
▼ + stars: | 2024-05-12 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

Here’s what prosecutors say the senator and his wife got:Gold barsProsecutors say Hana and Daibes gave Menendez and his wife gold bars, which were seized by the FBI from the Menendez residence. After returning from a trip to Egypt and getting a ride home from the airport from Daibes’ driver, prosecutors say Menendez searched online for the price of a gold bar. Nadine Menendez needed a new car, apparently after hitting and killing a jaywalker in Bogota, New Jersey, in December 2018. There is a long list of actions prosecutors say Menendez undertook in exchange for all of these alleged bribes. The envelopes of cash prosecutors say bore Daibes’ fingerprints may be more difficult to explain.

Persons: CNN — Democratic Sen, Bob Menendez, Mercedes, Menendez, CNN’s Manu Raju, “, ”, Nadine, Wael Hana, Fred Daibes, Jose Uribe, Daibes, Nadine Menendez’s, Nadine Menendez, Uribe, Hana, –, …, Qataris, retry Menendez, Salomon Melgen, Melgen, Donald Trump Organizations: CNN — Democratic, Bob Menendez of New, Senate Foreign Relations Committee, Capitol, FBI, Court Southern District of, Prosecutors, Court Southern District of New York Prosecutors, Court Southern District of New York, Menendez, Uribe, Mercedes, Benz, Senate Foreign Relations, US Department of Agriculture, New York, of Justice Locations: Bob Menendez of, Bob Menendez of New Jersey, Egypt, Qatar, New Jersey, Daibes, Court Southern District of New York, Bogota , New Jersey, New

☆ $22,000 per week? All-inclusive resorts go big to win over luxury travelers
▼ + stars: | 2024-05-09 | by ( Erica Lamberg | ) www.cnbc.com time to read: +4 min

All-inclusive hotels are making a big play for luxury travelers. In the wake of the pandemic, demand for all-inclusive resorts skyrocketed, according to a report by JLL Research Hotels & Hospitality. It was then that travelers discovered that the all-inclusive resorts of the past — known for bottom-shelf booze and quantity-over-quality dining — had changed. The numbers are even higher in Mexico, where upper upscale and luxury all-inclusive resorts accounted for more than half (55%) of its all-inclusive resorts in 2022. "In addition to elements that you receive by booking an all-inclusive resort, private and additional amenities help to elevate that experience."

Persons: Travelers —, Karina Arguello, Kelly Connor, they're, Saint Vincent, Cooper Organizations: JLL Research, Hospitality, Travelers, Marriott, Hilton, Westin, Casino, Med, AAA Club Alliance, Royal Locations: Dominican Republic, Mexico, JLL, DoubleTree, Maldives, Mauritius, Italy, France, Tignes, Caribbean, New Jersey, Grenadines, Royal Curacao, They're

☆ Homeowners are suing for the right to demolish the house Marilyn Monroe died in, angering fans who say it's part of Hollywood history
▼ + stars: | 2024-05-08 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

Read previewThe owners of the Brentwood home where Marilyn Monroe lived and later died are suing the City of Los Angeles for the right to demolish the property. According to the Los Angeles Times, they purchased the home for $8.35 million. Last September, the Los Angeles City Council intervened to temporarily halt the demolition of the home, which KCAL News reported was welcomed by fans and historians. Marilyn Monroe waves from Arthur Miller's convertible as the newlyweds leave their Connecticut home for a picnic in June 1956. AdvertisementRepresentatives for Milstein, Bank, and the City of Los Angeles did not immediately respond to Business Insider's requests for comment.

Persons: —, Marilyn Monroe, Brinah Milstein, Roy, Monroe, Scott Fortner, Arthur Miller, Arthur Miller's, Bettmann, Fortner, Milstein, Betty White, Joan Crawford, Chris Pratt, Katherine Schwarzenegger, Craig Ellwood, Liz Waytkus, Dezeen Organizations: Service, Brentwood, Roy Bank, Los Angeles Superior, Business, Los Angeles Times, Los Angeles City Council, Monroe, Connecticut, City, Bank, Milstein , Bank Locations: Los Angeles, Brentwood, memorializing Monroe

A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned. A number of other private equity firms have been circling Peloton as an acquisition target, but it's unclear if they have held formal discussions. Last week, Peloton announced a broad restructuring plan that's expected to reduce its annual run-rate expenses by more than $200 million by the end of fiscal 2025. Last week, Peloton announced CEO Barry McCarthy would be stepping down as it issued a disastrous earnings report that missed Wall Street's expectations. One source close to the company said Peloton isn't expected to have any issues refinancing its debt.

Persons: Barry McCarthy, Goldman Sachs Organizations: Interactive, CNBC, JPMorgan Locations: New York

☆ Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt
▼ + stars: | 2024-05-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

In a letter to staff, McCarthy said the company needed to implement layoffs because it wouldn't be able to generate sustainable free cash flow with its current cost structure. "Achieving positive [free cash flow] makes Peloton a more attractive borrower, which is important as the company turns its attention to the necessary task of successfully refinancing its debt," McCarthy said in the memo. McCarthy had also expected Peloton to reach positive free cash flow by June — a goal the company said it reached early during its third quarter. In a letter to shareholders, Peloton said it generated $8.6 million in free cash flow but it's unclear how sustainable that number is. The company didn't provide specific guidance on what investors can expect with free cash flow in the quarters ahead but said it does expect to "deliver modest positive free cash flow" in its current quarter.

Persons: Barry McCarthy, McCarthy, Karen Boone, Chris Bruzzo, Jay Hoag, It's, John Foley, hasn't, Goldman Sachs, Boone, Barry, Bruzzo, —, hadn't, Creditsafe, it's, Foley Organizations: Interactive, Allen & Company Sun Valley Conference, Spotify, Netflix, JPMorgan, LSEG, outperformance, CNBC Locations: Sun Valley , Idaho, lockstep

They also argued that having the doctor testify appeared to be an effort by Mr. Menendez to present alleged facts before the jury without subjecting himself to cross-examination by testifying himself. He will be tried with two New Jersey businessmen who also were accused of participating in the bribery conspiracy. The senator’s wife, Nadine Menendez, was charged as well but granted a separate trial, in July, after her lawyers said she had a serious medical condition that would require surgery and an extended period of recovery. The indictment, which runs 66 pages, outlines a variety of schemes. But perhaps nothing has caught the public eye as much as its descriptions of the cash, gold bars and a Mercedes-Benz convertible found during a June 2022 search of the senator’s home in Edgewood Cliffs, N.J.

Persons: Menendez, Judge Stein, Rosenbaum, Nadine Menendez Organizations: Democrat, Foreign Relations, Benz Locations: New Jersey, Egypt, Qatar, Jersey, Edgewood Cliffs, N.J

☆ Jeep-maker Stellantis reports sharp fall in revenue as it shifts car portfolio
▼ + stars: | 2024-04-30 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

Maserati's first GranCabrio convertible since 2019 is scheduled to go on sale this summer in the U.S. Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Chief Financial Officer Natalie Knight said year-over-year shipment and net revenue comparisons were difficult due to the company's transition to a "next generation product portfolio manufactured on new platforms." This is a breaking news story and will be updated shortly.

Persons: Maserati's, Natalie Knight Organizations: U.S . Global, Stellantis Locations: U.S

How to cancel your life insurance policyCanceling a term life insurance policyThere are several ways to cancel a term life insurance policy. Alternatives to life insurance cancelationcanceling your life insurance policy isn't ideal if you have dependents who rely on your income for financial support. If you have a whole life insurance policy, look into reduced paid-up life insurance. Life insurance settlementIf you don't have a terminal diagnosis and you want to sell your term life insurance policy, you can apply for a life insurance settlement with a third-party provider instead of canceling your policy. Canceling life insurance FAQsWill I get any money back if I cancel my life insurance policy?

Persons: Lucas Siegel, Siegel, wouldn't, policyholders, you've Organizations: Internal Revenue Service

☆ Buick, GM’s low-key pseudo-luxury brand, is suddenly hot
▼ + stars: | 2024-04-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

In the 21st Century, though, Buick, which celebrates its 125th anniversary this year, has been a quiet spot in GM’s North American brand strategy. Last year, Buick sales rose more than 60% in the US compared to 2022. The Buick Envista introduced last summer is, essentially, a modified version of the well-received Chevrolet Trax, GM’s cheapest crossover SUV. The 1938 Buick Y Job is generally considered the auto industry's first "concept car." Last year, Avenir models, which get some fancier interior materials, more features, and distinctive paint colors, made up almost a third of Buick sales, the highest levels yet, Aldred said.

Persons: Louis Chevrolet, “, it’s, ”, Ivan Drury, Jason Barlow, Envista, Bob Boniface ,, Duncan Aldred, Drury, It’s, Buick, that’s, Aldred Organizations: CNN, Buick, GM, Riviera, Chevrolet Trax, GMC, Chevy, Cox Automotive, Cadillac, General Motors, Liverpool Locations: GM’s, China, the, America, Europe

☆ My youngest child slept in our bed until he was 7
▼ + stars: | 2024-04-23 | by ( Angie Grace | ) www.businessinsider.com time to read: +4 min

When he was born, he mostly slept in his crib and napped in bed next to me. Once he became a toddler, we turned his convertible crib into a toddler bed. Related storiesEventually, we got rid of the toddler bed, as he was no longer sleeping in it at all and would cry to sleep in the bed with us. I sat him down that night before bed and spoke to him about the importance of owning his own bed. That first night of having his own bed, he slept in it the entire night.

Persons: I've, —, Kai Organizations: Service, Ikea

☆ My teenage son is pushing me away. I'm heartbroken and proud of him.
▼ + stars: | 2024-04-22 | by ( Shanti Brien | ) 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. Read preview"Tell me about your day," I lobbed to my 15-year-old son, hoping my command for details would prevent his customary "It was fine." My son, my baby, my secretly favorite child, couldn't even bear 10 minutes of talking? The Littlest Bear, a small pudge of brown fur, asks his mom in a slight peep, "Am I your favorite?" Yes, my son is breaking up with me, exactly as he is supposed to do.

Persons: — Organizations: Service, Business

Learn moreNearly every day that I carry Senreve's Maestra bag, I get stopped by someone on the sidewalk or the train. The easy transition also comes in handy for the days when you just want to switch up your look between shoulder bag, top-handle bag, and backpack. SenreveAll three sizes of the bag, the Maestra (from $945), Midi Maestra (from $845), and Mini Maestra (from $745) have the same capacity to transition from bag to backpack. A few years back, if you had ever told me that I'd be singing the praises of an $945 bag, I'd think you were nuts. So let me say this: the Maestra bag is a luxury, but it's one that you will get tons of use out of.

Persons: I'm, Sally Kaplan, it's, I'd, who's Organizations: Business

Johnson predicted the House will vote Friday evening on the separate bills. “My personal preference is to do it individually, but we’ll let the body decide.”Among the ways GOP leaders plan to address Ukraine aid: a bill to seize Russian assets, a lend-lease program for Ukraine military aid and convertible loans for humanitarian relief. Former President Donald Trump, who recently met with House Speaker Mike Johnson at Mar-a-Lago, has expressed openness to structuring Ukraine aid as a loan. The Senate passed its bill in February – a $95.3 billion foreign aid bill with assistance for Ukraine, Israel and other priorities. A significant number of House Republicans are opposed to sending further aid to Ukraine.

Persons: Mike Johnson, Johnson, ” Johnson, Marjorie Taylor Greene, ” Greene, “, haven’t, that’s, we’ll, Donald Trump, Kevin Hern, Hakeem Jeffries, ” Jeffries, Greene, ”, “ He’s, he’ll, Marjorie, President Trump, CNN’s Morgan Rimmer, Kristin Wilson Organizations: CNN, Louisiana Republican, GOP, Republican, Senate, Republicans, Democratic, Internal Revenue Service, Fox News, White House Locations: Israel, Ukraine, Mar, Oklahoma, Louisiana, East, Eastern Europe

☆ How Royal Caribbean is leading the charge in the cruise industry comeback
▼ + stars: | 2024-04-15 | by ( Ryan Baker | ) www.cnbc.com time to read: +1 min

Carnival , Norwegian and Royal Caribbean all reported entering the year with record highs for individual bookings and cruise pricing. It's an impressive turnaround after the industry was largely halted for 15 months after the Centers for Disease Control and Prevention issued a no-sail order in March 2020 at the onset of the Covid pandemic in the U.S.And Royal Caribbean has been leading the way. It's seen the highest ticket revenue increase relative to 2019 out of the big three cruise giants. 1 reason why Royal Caribbean has outperformed its peers and recovered the fastest is because they issued the least amount of equity during the pandemic. All of the companies had to issue equity.

Persons: It's, Brandt Montour Organizations: Royal, Centers for Disease Control, Barclays Locations: Royal Caribbean, U.S, Caribbean, Norwegian

☆ A boomer who moved to Panama after years as a bartender in the Hamptons and New Mexico outlines the pros and cons of living in Central America
▼ + stars: | 2024-04-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

George Stumpp, a retired bartender, lives comfortably in Panama after moving from New Mexico. He said Panama has robust infrastructure, a lower cost of living, and many of the same stores as the US. AdvertisementGeorge Stumpp, 65, worked as a bartender and bar supervisor in Long Island and New Mexico for decades. He's enjoying retirement in a country with a lower cost of living and high-quality healthcare, and he said he's enjoyed adapting to Panamanian culture. As his kids got older, he started to vacation in Central America, traveling to Costa Rica, Belize, and Panama.

Persons: George Stumpp, —, he's, we've, Stumpp, it's, Long, there's Organizations: Service, Panama City, Central, Business, Hamptons, Sante Locations: Panama, New Mexico, Long Island, Panamanian, Colombia, Thailand, St, Maarten, Long, Sante Fe, Santa Fe, Central America, Costa Rica, Belize, Ontario, Canada

Raymond James raised its price target on Nvidia to $1,100, noting revenue momentum will stay strong. On a more sour note, Bank of America lowered its price target on Boeing to $190, citing risks around the company's ongoing safety issues. He raised his price target by $30 to $160, which suggests more than 25% potential upside for shares. Analyst Bryan Bergin initiated coverage of Mastercard with a buy rating and $545 price target, which indicates 16.2% potential upside. — Pia Singh 5:50 a.m.: Bank of America cuts Boeing price target Boeing's latest troubles made Bank of America even more skeptical on the stock's prospects.

Persons: Raymond James, Berenberg, Andres Castanos, Mollor, — Pia Singh, Bernstein, Johnson, Callum Elliott, Kenvue, Elliott, Lorraine Hutchinson, Hutchinson, Nike's, TD Cowen, Bryan Bergin, Bergin, Blackwell, Srini Pajjuri, Ronald Epstein, Dave Calhoun, Epstein, Fred Imbert Organizations: CNBC, Nvidia, Bank of America, Boeing, Johnson, Nike, Mastercard, Visa, of America, New York Times Locations: Albemarle, underperform, China, Europe, Asia

☆ Trump Media payday: What Truth Social executives got paid in stock and compensation
▼ + stars: | 2024-04-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +12 min

Those thresholds for the share price are well below where Trump Media stock was trading on Monday, when it closed at $37.17, down more than 8%. The filing disclosed that Trump Media awarded company stock to Nunes, chief financial officer Phillip Juhan, and chief operating officer Andrew Northwall. The three top executives, like Trump himself, are currently barred from selling any of their common stock in Trump Media for the next six months. CNBC asked a spokeswoman for Trump Media why promissory notes were used to grant stock to the executives. Legal battlesBesides Trump, the biggest shareholders in Trump Media are two corporate entities.

Persons: Dado Ruvic, Donald Trump, Devin Nunes, Trump, Kevin Murphy, Murphy, Nunes, Phillip Juhan, Andrew Northwall, Juhan, Northwall, DWAC, we've, Tom Williams, Kash Patel, Patel, Dan Scavino, Scavino, Department of Defense Kash Patel, Justin Sullivan, Sandro De Moraes, Vladimir Novachki, Scott Glabe, Novachki, Glabe, De Moraes, Eric Swider, beneficially, Renatus, Swider, Andy Litinsky, Wes Moss, Moss, Patrick Orlando, Mike Pont Organizations: Trump Media, Trump . Trump Media, Nasdaq, Corp, Trump, University of Southern, Securities and Exchange Commission, DWAC, SEC, CNBC, Partners, Northwall, Juhan, Trump Media's, U.S, Capitol, CQ, Inc, Getty, Equity, Messrs, Republican, Hudson Digital, Trump White House, Staff, Department of Defense, Digital, Renatus, ARC Global, United Atlantic Ventures, Twitter, Facebook, NBC, FilmMagic Locations: Juhan, California, Minden, Minden , Nevada, Orlando, New York City

☆ Grandma Joy: Now aged 94, this viral star is taking on a new travel challenge
▼ + stars: | 2024-04-07 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +12 min

“I don’t have many years left, [so] you hop to it,” Grandma Joy, now 94, tells CNN Travel via Zoom. @grandmajoysroadtrip“We’re in each other’s pockets all the time,” says Grandma Joy. “I tried to learn to enjoy his kind of music,” says Grandma Joy, who has three other grandchildren. Willing spirit"I'm in good shape for an old woman," says Grandma Joy. Life is very short.”As for Grandma Joy, she’s enjoying making up for lost time, and now has several stamps in her first ever passport.

Persons: Grandma Joy ” Ryan, Brad Ryan, “, Grandma Joy, Grandma, Ryan’s, Ryan, ”, @grandmajoysroadtrip, ” Ryan, I’ll, Keen, Old, Brad, Grandma Joy’s, wasn’t, ziplining, they’ve, “ We’ve, ” We’ve, that’s, he’s, they’re, she’s, I’ve, “ I’ve, “ They’ve, ‘, ’ Organizations: CNN, Parks, National Parks, Banff National, Mara, Reserve, Travel, “, and, Elias, of, South Pacific, Asia ” Locations: Hawaii, Canada, North America, Africa, Kenya, South America, Ecuador, Galapagos, Chile, “, Kilimanjaro, Tanzania, Florida, Smoky, North Carolina, Tennessee, Yellowstone, Alaska, New, West Virginia, Wrangell St, of American Samoa, South, Ohio, Australia, Asia, India, Borneo, Europe, Antarctica, Duncan Falls , Ohio

☆ Retailers like Peloton and Saks keep paying vendors late, signaling possible 'financial distress'
▼ + stars: | 2024-04-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

To be sure, late payments don't always signal financial troubles. Creditsafe spokesperson Ragini Bhalla said payment data is only one factor the firm considers when assessing a company's financial health. Though the data "doesn't represent a company's total trading behavior, analysis has proven that it is hugely predictive of a company's financial health and creditworthiness," Bhalla said. "When the number of late payments increases like this, it's often indicative of financial challenges and poor cash flow forecasting," Creditsafe said. While Saks often made late payments last year, its on-time payments have dropped significantly since October 2023, the firm said.

Persons: Saul Loeb, Perry Mandarino, Mandarino, Creditsafe, Ragini Bhalla, Bhalla, Barry McCarthy, Simeon Siegel, Siegel, he's, Peloton's DPO, Marc Metrick, Metrick, Mark Still, Stewart Glendinning, Tim Baxter Organizations: Saks, Washington , D.C, AFP, Getty, Bed, RadioShack, CNBC, Retailers, Body, Body Works, Riley Securities, BMO Capital Markets, Business of Fashion, HBC, Express, Street, Creditsafe, Economic Security, IRS, New York Stock Exchange, Bath Locations: Washington ,, Express, Creditsafe, U.S

☆ Read Ken Griffin's letter to Citadel investors. He gives his 2024 outlook and talks about building a 'formidable team.'
▼ + stars: | 2024-04-01 | by ( Hayley Cuccinello | Bradley Saacks | ) www.businessinsider.com time to read: +9 min

Griffin noted that 2023 was a difficult year for the hedge fund industry and expected the medium-term to "remain challenging." Citadel and Griffin's market maker, Citadel Securities, received over 100,000 applications for full-time jobs and internships this year, Griffin said. "We take pride in having built one of the most formidable teams in hedge fund history," he said. The remarkable achievements of our portfolio managers are a testament to the constructive and empowering culture at Citadel. Assembling the Premier Team in Hedge Fund HistoryWe take pride in having built one of the most formidable teams in hedge fund history.

Persons: Griffin, Kenneth C Organizations: Business, Disney World, Citadel, Citadel Securities, Citadel Wellington LLC, Team, Congressional, U.S, LCH Investments Locations: United States

☆ How the businessman who blew up MoviePass tried to create a 'TikTok killer' and cost investors millions
▼ + stars: | 2024-04-01 | by ( Ashley Rodriguez | Jason Guerrasio | ) www.businessinsider.com time to read: +22 min

At Vinco, Farnsworth employed several of the same tactics that he had at MoviePass and at his earlier ventures. "Ted took these press releases and really treated them like they were works of art for him," Matt Argall, a former advisor to Farnsworth, told BI. Hudson Bay has not been served the lawsuit as of the publication of this story. "Hudson Bay's investment in Vinco Ventures was a standard, fixed price convertible loan of which millions remain unpaid," Hudson Bay told BI in a statement. "If served, Hudson Bay will seek to have these baseless, factually flawed and frivolous claims, which have been repeatedly dismissed in other proceedings against other parties, dismissed expeditiously."

Persons: MoviePass, Ted Farnsworth, Maria Bartiromo, he'd, Farnsworth, Jaeson Ma, Ted Farnsworth playbook, Ted, Barnum, John Fichthorn, I've, Shadwrick Vick, Rudy, Vick, Roderick Vanderbilt, who's, hocking, La Toya Jackson, Helios, Matheson, Brian Quinn, Farnsworth's, Michael Hartstein, Vinco, Matt Argall, Mitch Lowe, Reuters Farnsworth, David, Goliath, TikTok, We're, Argall, Elton John, Jamie McCarthy, Lomotif, Lil Nas X, Snoop Dogg, Grimes, Zash, Allan Stern, Get2it, Stern, Robert N, Scola Jr, Scola, he's, —, Lowe, Getty, Dave Kotinsky, Stringer Vinco, expeditiously, Farnsworth —, Vanderbilt, Jesse Law, Katherine Long Organizations: Fox Business, Hollywood, Business, Zash Global Media, Entertainment, Vinco Ventures, Fox, Hudson Bay, BI, Helios, Matheson, Matheson Analytics, Boston College Law School, Palladium Capital Group, Vinco, BHP Capital, Armistice, CVI Investments, National Enquirer, Reuters, AMC Theatres, AMC, Gemini Valuation, Hudson, Eightco Holdings, Elton John AIDS Foundation, 91st, EDC, Tampa Marriott, SEC, Publishing, National Examiner, Globe, The New York Times, Southern, Southern District of, Bloomberg, Bay, Vanderbilt, Federal Bureau of Investigation Locations: Hudson, Vinco, Zash, Hudson Bay, China, Syracuse , New York, Lomotif, Syracuse, West Hollywood , California, Vegas, Tampa, Argall, Boston, India, The, Miami, MoviePass, Southern District, Southern District of Florida, New York

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