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Nvidia shares, which had run up in the days leading up to its report, climbed more than 6% on Thursday but pared gains to end the day little changed. However, Nvidia's stock buyback - the fifth-biggest repurchase announcement among U.S.-based companies this year, according to EPFR - surprised some investors. Despite the staggering dollar amount, Nvidia's buyback amounted to only 2.1% of its nearly $1.2 trillion market value, or buyback yield, as of Wednesday. Indeed, some investors welcomed Nvidia's buyback decision. "It’s a show of confidence," said Francisco Bido, senior portfolio manager for F/M Investments' large cap focused fund, which holds Nvidia shares.

Persons: Dado Ruvic, Lip, Daniel Morgan, Morgan, Refinitiv, Tom Plumb, Plumb, buyback, Howard Silverblatt, Dow, Daniel Klausner, Houlihan Lokey, Nvidia's, Francisco Bido, Lewis Krauskopf, Chibuike Oguh, Lance Tupper, Echo Wang, Stephen Nellis, Ira Iosebashvili, Matthew Lewis Organizations: NVIDIA, REUTERS, Nvidia, Companies, Wealth Management, Synovus, Plumb Funds, Arm Holdings, Dow Jones, Apple, Tech, Investments, Thomson Locations: New York, San Francisco

☆ How Bob Iger's big plan to shrink Disney could pay off and how it could backfire, according to industry insiders
▼ + stars: | 2023-08-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." Verizon has reached out to Disney about partnering on a new ESPN streaming service, The Information reported. 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

Persons: Bob Iger, He's, Iger, Wells, Steven Cahall, MoffettNathanson's Michael Nathanson, Iger's, hasn't, Macquarie, Tim Nollen, Doug Shapiro, Shapiro, Disney, It'll, there's, Tim Cook, Eddy, Drew Angerer, Disney's, Penn, Joel Simkins, Stratechery's Ben Thompson, Thompson, — Iger, mused, signups, he's, Kevin Lansberry, I'm, Nollen Organizations: Disney, ABC, FX, Geographic, ESPN, Google, Netflix, Warner Bros, Discovery, Warner Bros . Discovery, Comcast, Marvel, Pixar, Apple, Walt Disney, Turner Broadcasting System, Apple's, Hulu, ESPN Iger, Penn Entertainment, Houlihan, Global Technology Group, LightShed Partners, Verizon, Flagship Locations: Orlando , Florida, Sun

☆ Bob Iger is moving to shrink Disney — here's how industry insiders see his playbook and its potential pitfalls: 'Everything is not OK'
▼ + stars: | 2023-08-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. He's looking to Disney's IP-driven parks, streaming, and film studios to drive growth. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

☆ What does Moody’s downgrade mean for markets?
▼ + stars: | 2023-08-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Moody’s on Monday evening downgraded 10 US banks and put the credit ratings of six others on review, an indication that the agency could also eventually downgrade those institutions. Some investors say that while the Moody’s downgrade isn’t groundbreaking, it’s a reminder that the economy, and markets, still have challenges ahead. Moody’s downgraded Commerce Bank, BOK Financial, M&T Bank, Old National Bank, Prosperity Bank, Amarillo National Bank, Webster Financial, Fulton Financial, Pinnacle Financial and Associated Bank. Wall Street firms fined $549 million for using WhatsApp and other channelsWells Fargo is among a number of Wall Street firms that admitted Tuesday to using WhatsApp, Signal and other messaging platforms for “off-channel” communications in violation of federal recordkeeping requirements. The Securities and Exchange Commission said the Wall Street firms acknowledged wrongdoing and have agreed to pay penalties totaling $289 million, reports my colleague Matt Egan.

Persons: CNN — Moody’s, JPMorgan Chase, Wells, Goldman Sachs, BNY, Cullen, Frost, ” Moody’s, ”, Kara Murphy, Fitch, Christopher Marinac, Janney Montgomery Scott, Price, Matt Egan, Houlihan Lokey, Alicia Wallace Organizations: CNN Business, Bell, CNN, Bank, Dow Jones, Nasdaq, JPMorgan, Banking, BNY Mellon, Northern Trust, Frost Bankers, Truist Financial, US Bank, Moody’s, Commerce Bank, BOK, T Bank, National Bank, Prosperity Bank, Amarillo National Bank, Webster Financial, Fulton Financial, Pinnacle Financial, Associated Bank, PNC Financial Services, Financial, Citizens Financial, Fifth Third Bank, Huntington Bank, Regions Financial, Cadence Bank, FNB Corp, Simmons, Ally Financial, Bank OZK, Valley Bank, Signature Bank, Federal Reserve, Kestra Investment Management, Consumer, Wall Street, Securities, Exchange Commission, SEC, BNP, SG Americas, BMO Capital Markets, Mizuho Securities, SMBC Nikko Securities, Federal Reserve Bank of New Locations: Wells Fargo, Amarillo, Marinac, Wells, SMBC Nikko Securities America, WhatsApp, Federal Reserve Bank of New York, York

☆ Regulators fine Wall Street firms $549 million for using WhatsApp and other channels to discuss business
▼ + stars: | 2023-08-08 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

New York CNN —Wells Fargo and a slew of other Wall Street firms admitted Tuesday to using WhatsApp, Signal and other messaging platforms for “off-channel” communications in violation of federal recordkeeping requirements. The Securities and Exchange Commission said the Wall Street firms acknowledged wrongdoing and have agreed to pay penalties totaling $289 million. The SEC said the firms violated federal securities laws by failing to maintain or preserve the “substantial majority” of these communications. Another regulator, the Commodity Futures Trading Commission, also fined four of the same Wall Street firms for failing to maintain records and failing to supervise matters related to their businesses. The CFTC hit Bank of Montreal with a $35 million fine and a $75 million fine each for BNP Paribas, Societe Generale and Wells Fargo.

Persons: Wells, Houlihan Lokey, ” Sanjay Wadhwa Organizations: New, New York CNN, Securities, Exchange Commission, Wall Street, SEC, BNP, SG Americas, BMO Capital Markets, Mizuho Securities, SMBC Nikko Securities, Futures Trading Commission, CFTC, Bank of Montreal, BNP Paribas, Societe Generale Locations: New York, Wells Fargo, SMBC Nikko Securities America, WhatsApp

☆ A group of Wall Street banks have been fined $549 million for using WhatsApp and other messaging apps to discuss business
▼ + stars: | 2023-08-08 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

The SEC and CFTC have fined a group of Wall Street firms a combined $549 million. The firms admitted to employees using WhatsApp and other messaging services for business purposes. A pair of regulatory agencies on Tuesday announced large fines for a group of Wall Street banks that admitted to using WhatsApp and other messaging services for business purposes. The Securities and Exchange Commission is fining nine firms a total of $289 million, while the Commodity Futures Trading Commission issued $260 million in fines, for a combined sum of $549 million. The Wednesday announcements bring the SEC's total fines related to the matter to $1.5 billion, while the CFTC's statement said it's imposed more than $1 billion in penalties to date.

Persons: Grewal, SEC Wells, Houlihan Lokey Organizations: SEC, CFTC, Wall Street, BNP, BMO Capital Markets, Morning, Securities, Exchange, Futures Trading, Americas Securities, Capital Markets, Mizuho Securities USA, Company, Wedbush Securities, Nikko Securities America Locations: Wells Fargo, Wall

☆ A New York property where a mobster ran a moonshine business during Prohibition is now on the market for $5.5 million — and he may have buried treasure worth millions on the land
▼ + stars: | 2023-07-29 | by ( Maria Noyen | ) www.businessinsider.com time to read: +1 min

A modern barn that's home to a distillery 2 hours north of New York City has hit the market for $5.5 million. The property is located in Pine Plains in Upstate New York. Google Maps, Houlihan LawrenceLocated roughly 100 miles north of New York City, Harvest Homestead hit the market for $5.5 million earlier in July. The 343-acre property, which is near the quiet hamlet of Pine Plains, comes with several buildings, including a barn that houses a modern distillery. After learning New York state was softening restrictions on smaller craft distilleries, they decided they would start one themselves on Adams' family's land.

Persons: Houlihan Lawrence, Ariel Schlein, Alex Adams, Schlein, Adams, they'd Organizations: New York City, Google, Harvest, Wall Street Locations: New York, Pine Plains, Upstate New York, New York City, Dutchess County

☆ Former adtech unicorn MediaMath nearly saved itself from bankruptcy. Then its last hope vanished.
▼ + stars: | 2023-07-06 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +15 min

The adtech company held panel sessions and meetings at the "MediaMath Penthouse." But behind the scenes, MediaMath CEO Neil Nguyen had barely been sleeping, according to three people familiar with the matter. "We collectively believed as a company, board, and advisors that we had a deal in hand," the statement continued. When advertisers or agencies buy ads through a platform like MediaMath, the adtech company must pay publishers immediately for their ad space. But the adtech company must wait — often 90 days or more — to be paid by the advertiser or agency.

Persons: MediaMath, Goldman Sachs, MediaMath execs, Neil Nguyen, Nguyen, Olivier Anrigo, Xandr, Joe Zawadzki, Ernest Hemingway, Searchlight wasn't, Neil, Houlihan Lokey, Zeta, Viant, Chris Vanderhook, Tim Vanderhook, Frederick M, Brown, MGI, Lionel Hahn, Remco Westermann, Gary Hershorn, MGI's, Westermann, they'll, Zawadzki, he'd Organizations: Cannes Lions, Cannes, Goldman, Searchlight Capital, Carlton Hotel, Google, IBM, Bain Capital —, Aperiam, Searchlight, Silicon, Zeta Global, Media, Games Invest, Verve, MGI's Verve Group, Getty, Verve Group, Trade, World Trade, Trade Center Locations: France, Cannes, hobnobbing, Delaware, Japan, Manhattan, New York City, MediaMath, AperiamVentures

☆ Neptune Retail to buy Coupons.com-parent for $430 mln
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Retail marketing firm Neptune Retail Solutions will acquire Coupons.com-parent Quotient Technology (QUOT.N) for $430 million in cash, the companies said on Tuesday. Quotient's shares jumped about 17% in the early session and were trading 9 cents shy of the $4 offer price. Its clients include some of the world's biggest consumer companies such as Kellogg's (K.N) and Coca-Cola (KO.N). Private investment firm Charlesbank Capital Partners, which is a major shareholder of Neptune, will be the majority investor in the combined company. Houlihan Lokey is serving as a financial adviser to Quotient, while PJT Partners is advising Neptune.

Persons: Quotient's, William Redmond, Houlihan Lokey, Samrhitha, Anil D'Silva Organizations: Retail, Neptune Retail, Reuters, Charlesbank Capital Partners, PJT Partners, Neptune, Thomson Locations: U.S, Bengaluru

LONDON, May 4 (Reuters) - U.S. private equity firm Summit Partners is looking to sell a stake in Swiss wealth manager Cinerius Financial Partners amid increasing consolidation in the sector, two people familiar with the matter told Reuters. Summit intends to bring in another private equity fund to help fund Cinerius' growth, particularly through acquisitions, one of the people said. Asset manager BlackRock Inc (BLK.N) provides debt financing for Cinerius' acquisitions through its private credit arm, the person added. BlackRock, Cinerius and Summit Partners did not respond to requests for comment. Belgian private bank Degroof Petercam is reviewing strategic options after drawing interest from rivals, Reuters reported last Friday.

[1/2] A surveillance camera is seen near the logo of the China Evergrande Group at the Evergrande Center in Shanghai, China, September 24, 2021. REUTERS/Aly Song/File PhotoHONG KONG, April 27 (Reuters) - Embattled property developer China Evergrande Group (3333.HK) said on Thursday it would extend the deadline for receiving an incentive for its debt restructuring proposal to May 18 as the company disclosed levels of support from offshore debt-holders for its proposal. Evergrande said that 77% holders of class-A debts and 30% holders of class-C debts have submitted their respective support for the restructuring proposal, among others. While some major creditors have already agreed to support the restructuring proposal, others are eager to cut ties with the debt-laden company and move on. Houlihan Lokey's Gale said the restructuring terms were more complex than other property sector deals because Evergrande had "a lot of voices and a fragmented holder base".

☆ Adtech company MediaMath has hired bankers to explore a possible sale
▼ + stars: | 2023-04-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +2 min

MediaMath has appointed investment bank Houlihan Lokey to explore its strategic options. Amid a period of major upheaval, MediaMath has been pursuing a sale since 2020. Adtech company MediaMath has appointed the investment bank Houlihan Lokey to explore its strategic options, which could include a debt restructuring or a sale, according to two people familiar with the matter. It's the third investment bank MediaMath has appointed in three years, amid a period of major upheaval for the company. While MediaMath held serious talks with four companies between 2020 and 2022, including Amazon and the publicly traded adtech firm Tremor, a sale didn't materialize.

HONG KONG, April 27 (Reuters) - Embattled property developer China Evergrande Group (3333.HK) will get a signal on Thursday of the level of creditor backing for its offshore debt restructuring proposal, with investors to be given an incentive for early support. While some major creditors have already agreed to support the restructuring proposal, others are eager to cut ties with the debt-laden company and move on. The proposal requires approval from more than 75% in creditor value in each debt class in order to pass. A Chinese institutional investor said the restructuring terms were unappealing but his firm planned to accept the offer because its holding was small and it could not see a better option to quickly wrap up dealings and move on. Houlihan Lokey's Gale said the restructuring terms were more complex than other property sector deals because Evergrande had "a lot of voices and a fragmented holder base".

HONG KONG, March 22 (Reuters) - China Evergrande Group (3333.HK) on Wednesday announced plans for the restructuring of its $22.7 billion in offshore debt, which could set a template for distressed rivals and shape investor sentiment on the country's embattled property sector. The world's most indebted property developer gave creditors a basket of options to swap their debt into new bonds and equity-linked instruments tied to two Hong Kong-listed companies, Evergrande Property Services Group (6666.HK) and Evergrande New Energy Vehicle Group (0708.HK). With more than $300 billion in total liabilities including offshore debt, Evergrande has been at the centre of a property debt crisis in which multiple Chinese developers defaulted over the past year, forcing many to enter debt restructuring talks. "The proposed restructuring will alleviate the company's pressure of offshore indebtedness and facilitate the company's efforts to resume operations and resolve issues on shore," Evergrande said in the filing. Evergrande, which began one of China's biggest debt restructuring processes early last year, said on Monday that a key bondholder group had agreed to its proposed terms.

☆ China Evergrande set to unveil offshore debt restructuring proposal
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, March 22 (Reuters) - China Evergrande Group (3333.HK) is set to unveil on Wednesday a restructuring proposal for its $22.7 billion offshore debt that could set the template for distressed peers and shape investor sentiment towards the country's embattled property sector. Two people with knowledge of the proposal said it would give creditors a basket of options to swap their debt into new bonds with extended maturity and equity in Evergrande's two Hong Kong-listed units - Evergrande Property Services Group (6666.HK) and Evergrande New Energy Vehicle Group (0708.HK). Evergrande, once China's top-selling developer but now the world's most indebted property developer, declined to comment. With more than $300 billion in total liabilities including offshore debt, Evergrande has been at the centre of a property debt crisis in which multiple Chinese developers defaulted over the past year, forcing many to enter debt restructuring talks. Evergrande, which began one of China's biggest debt restructuring processes early last year, said on Monday that a key bondholder group had agreed to its proposed terms and that it plans to publish the details on Wednesday.

☆ WeWork reaches deals to cut debt, extend maturities
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

Under the deals announced Friday, key investor SoftBank Group Corp's (9984.T) $1.0 billion unsecured notes would be converted to equity. The Japanese company held a stake of about 46% in WeWork before the restructuring was announced, as per Refinitiv data. About $1.9 billion of pro-forma debt will now mature in 2027, WeWork said, adding that it would have less than $2.0 billion in net debt once the deal closes. WeWork, which went public in 2021 after a two-year struggle, is yet to post a quarterly profit. PJT Partners LP advised WeWork on the debt restructuring, while Houlihan Lokey advised SoftBank.

☆ Dirty Dozen list: Which fruits and vegetables could contain pesticides
▼ + stars: | 2023-03-15 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

Each year, a rotating list of produce is tested by USDA staffers who wash, peel or scrub fruits and vegetables as consumers would before the food is examined for 251 different pesticides. Kale, collard and mustard greens contained the largest number of different pesticides — 103 types — followed by hot and bell peppers at 101. Concerned consumers can consider choosing conventionally grown vegetables and fruits from the EWG’s Clean 15, a list of crops that tested lowest in pesticides, the report said. When last tested in 2014, blueberries contained over 50 different pesticides. Testing in 2020 and 2021 found 54 different pesticides — about the same amount.

Persons: nutritionists, Kale, collard, ”, Jane Houlihan, Houlihan, Ian Berry, Alexis Temkin, ” Temkin, we’re, ” Chris Novak, ” Novak, Bryan Hitchcock, Temkin, “, “ Steer Organizations: CNN, Environmental, Produce, US Department of Agriculture, USDA, Environmental Protection Agency, Healthy, American Academy of Pediatrics, Futures, EPA, US Centers for Disease Control, CDC, CropLife, Food Technologists, US Food and Drug Administration Locations: CropLife America

☆ Exclusive: Coupons.com owner Quotient Technology explores a sale -sources
▼ + stars: | 2023-03-07 | by ( Milana Vinn | ) www.reuters.com time to read: +2 min

March 7 (Reuters) - Quotient Technology Inc (QUOT.N), the parent of Coupons.com, is exploring options that include a sale of the company as it grapples with a collapse in advertising revenue, according to people familiar with the matter. There is no certainty that Quotient will clinch any deal, added the sources, who requested anonymity because the deliberations are confidential. Quotient Technology and Houlihan Lokey declined to comment. Founded in the early days of the internet in 1998, Quotient operates Coupons.com and other digital marketing platforms offering promotions to consumers. Last year, Quotient avoided a board challenge from hedge fund Engaged Capital LLC by agreeing to add two directors to its board.

"Our industry is still climbing out of - call it a 100-year event, call it a macro shock of epic proportions. "We are bullish and these are the reasons why I suspect there's a disconnect between the Davos in Switzerland and the Davos in Dublin," Cronin told Reuters. "It's a good time to be a lessor," said Tony Diaz, chairman of the smaller Zephyrus Aviation Capital. It's probably easy to take that second one too," Robert Korn, president and co-founder of fast growing Carlyle Aviation Partners, added. Additional reporting by Tim Hepher and Joanna Plucinska Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Jan 20 (Reuters) - As an investment banker, Barry Silbert worked on some of the highest-profile corporate failures. Now, as founder of venture capital firm Digital Currency Group, parent of troubled crypto firm Genesis, he is grappling with problems closer to home. Unlike other prominent crypto moguls, Silbert kept a relatively low profile, eschewing the regular tweets favored by his peers. Nasdaq bought SecondMarket in 2015 for an undisclosed amount and Silbert relaunched SecondMarket’s crypto trading division as Genesis Trading the same year, incorporating it into his growing crypto empire. In an open letter posted to Twitter on Jan. 10, Gemini's Cameron Winklevoss demanded the DCG board remove Silbert as CEO and install a new leader.

Silbert is the founder of Digital Currency Group (DCG), a crypto conglomerate that includes the Grayscale Bitcoin Trust and trading platform Genesis. Winklevoss, along with his brother Tyler, co-founded Gemini, a popular crypto exchange that, unlike many of its peers, is subject to New York banking regulation. Winklevoss and Silbert were linked through an offering called Earn, a nearly two-year-old product from Gemini that promoted returns of up to 8% on customer deposits. With Earn, Gemini loaned client money to Genesis for placement across various crypto trading desks and borrowers. Silbert has avoided responding directly to Winklevoss' latest accusation, though the company has taken up his defense.

☆ Who is DCG's Barry Silbert, the crypto baron in the crosshairs of the Winklevoss twins over 'bad faith' business practices?
▼ + stars: | 2023-01-09 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +4 min

Barry Silbert is the CEO of Digital Currency Group, the crypto conglomerate that owns Genesis and Grayscale. In 2015, the 46 year old started Digital Currency Group (DCG), the $10 billion parent company that controls industry giants like crypto brokerage Genesis and digital asset manager Grayscale. The conglomerate also owns trade publication Coindesk, crypto mining firm Foundry Services, crypto index provider TradeBlock, and digital asset platform Luno Global. Cameron Winklevoss blasted Silbert for "bad faith" business practices last week, alleging the crypto baron owes the digital asset exchange's customers $900 million. Prior to launching DCG, Silbert went to Emory University's Goizueta Business School and began his career as an investment banker at Houlihan Lokey.

☆ 6 top M&A bankers lay out their dealmaking playbook for 2023 — from getting around a sagging bond market to dealing with skeptical shareholders
▼ + stars: | 2023-01-09 | by ( Carter Johnson | ) www.businessinsider.com time to read: +10 min

"We're certainly telling clients to plan for longer timelines between signing an announcement and when a transaction closes," RBC's Sperduto said. Bankers noted the figure was on pace with the average amount of deals done in the five years preceding the pandemic. "There is still significant desire from both corporates and financial sponsors to transact," Gary Posternack, co-head of global M&A at Barclays, told Insider. But in 2023, bankers see more transactions receiving greater scrutiny from stakeholders. Vito Sperduto, the co-head of global M&A at RBC Capital Markets.

☆ Final farewell: From Sidney Poitier to Pope Emeritus Benedict a look back at the influential figures who died in 2022
▼ + stars: | 2023-01-01 | by ( Associated Press | ) www.nbcnews.com time to read: +55 min

Other world leaders who died in 2022 include former Soviet leader Mikhail Gorbachev, who died in August. The final days of 2022 saw the loss of some exceptionally notable figures, including Pope Emeritus Benedict XVI. Here is a roll call of some influential figures who died in 2022 (cause of death cited for younger people, if available):___JANUARY___Dan Reeves, 77. A Cuban-born artist whose radiant color palette and geometric paintings were overlooked for decades before the art world took notice. A prolific character actor best known for playing villains and tough guys in “The Manchurian Candidate,” “Ocean’s Eleven” and other films.

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