DIRS.INFO The most relevant business & tech news

☆ Home prices still rising despite sales dropping, says National Association of Realtors' Yun
▼ + stars: | 2023-05-17 | 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 EmailHome prices still rising despite sales dropping, says National Association of Realtors' YunLawrence Yun, Chief Economist at the National Association of Realtors, joins 'The Exchange' to discuss market dynamics between luxury and low-income homes, consumer sensitivity to mortgage rate raises, and the need for more policy incentives to increase home supplies.

☆ Exclusive: UBS set to gain EU nod for Credit Suisse deal, sources say
▼ + stars: | 2023-05-16 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 16 (Reuters) - UBS (UBSG.S) is expected to secure unconditional European Union antitrust approval for its planned takeover of struggling Credit Suisse (CSGN.S), people familiar with the matter said on Tuesday, putting the Swiss bank closer to completing the deal. UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.4 billion) in stock and to assume up to 5 billion francs in losses in March, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. The European Commission, which is scheduled to finish its preliminary review of the deal by June 7, and Credit Suisse declined to comment. UBS, which is twice as big as Credit Suisse by assets, did not immediately respond to a request for comment. Both UBS and Credit Suisse are in a group of the 30 global systematically important banks watched closely by regulators, and Credit Suisse's failure would ripple throughout the entire financial system.

☆ Gay rights: Taiwan grants right of adoption to same-sex couples
▼ + stars: | 2023-05-16 | by ( Eric Cheung | ) edition.cnn.com time to read: +2 min

Taipei, Taiwan CNN —Taiwan’s legislature passed a bill Tuesday that granted same-sex couples the right to jointly adopt a child neither of them are related to, clearing one of the final hurdles in achieving full marriage equality. Taiwan in 2019 became the first jurisdiction in Asia to legalize same-sex marriage but it stopped short of granting fully equal rights of adoption to same-sex couples. “I am very excited that we granted joint adoption rights to same-sex couples today,” said Fan Yun, a lawmaker from the ruling Democratic Progressive Party who was among those that initiated the legal change. “Legally, we have finally returned same-sex couples to their children,” she added. Before the legal change Tuesday, some same-sex couples had spent years challenging the discrimination in Taiwanese courts.

☆ Major investors loaded up on regional bank stocks during a turbulent first quarter
▼ + stars: | 2023-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's Greenlight Capital took small stakes in New York Community Bancorp and First Citizens Bancshares in the first quarter, with each bet worth about $20 million, according to a regulatory filing. New York Community Bancorp's subsidiary, Flagstar, acquired Signature Bank assets after that bank was shuttered , while First Citizens bought a large portion of Silicon Valley Bank assets . New York Community shares are up nearly 20% this year, while First Citizens' stock has jumped more than 68% on the year. 'Big Short' Burry of "Big Short" fame snapped up a slew of regional banks last quarter, including New York Community Bancorp , Capital One Financial , Western Alliance , PacWest Bancorp and Huntington Bancshares during the first quarter. To make matters more confusing, the conglomerate dumped its remaining stakes in Bank of New York Mellon and U.S. Bancorp .

☆ Dan Loeb's Third Point takes a stake in Alphabet, making it one of his biggest bets
▼ + stars: | 2023-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Dan Loeb's Third Point built a sizable stake in Google parent Alphabet in the first quarter, according to a new regulatory filing. The hedge fund added a position in Alphabet worth nearly $500 million at the end of March, making it the fund's fifth biggest holding, the SEC filing showed. Shares of Alphabet rallied almost 12% this month alone, pushing its 2023 gain near 36%. Third Point kept its biggest holdings — PG & E , Colgate-Palmolive , Danaher and Bath & Body Works — relatively unchanged last quarter. In other bets, Loeb added a new stake in Salesforce , worth $160 million at the end of March.

☆ Stocks making the biggest moves midday: Horizon Therapeutics, Capital One, RH, Home Depot and more
▼ + stars: | 2023-05-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Western Alliance Bancorp — Western Alliance shares jumped 3.6% after Bank of America reinstated coverage on the stock with a buy rating. Home Depot , Lowe's — Shares of home improvement retailers Home Depot and Lowe's lost 1.4% and 1% in midday trading Tuesday. On Monday, Daniel Welch, a director at Seagen, disclosed the sale of 1,864 shares, a stake worth more than $370,000. GE HealthCare — The medtech company's shares gained nearly 3% after Oppenheimer initiated coverage with an outperform rating on Monday. GE HealthCare separated from parent company General Electric earlier in 2023 and began publicly trading on the Nasdaq Jan. 4.

☆ Microsoft wins EU antitrust approval for Activision deal vetoed by UK
▼ + stars: | 2023-05-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +4 min

[1/2] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. Microsoft has in recent months signed licensing deals with Nvidia (NVDA.O), Nintendo (7974.T), Ukraine's Boosteroid and Japan's Ubitus to bring Activision games to their platforms should the deal go through. "The European Commission has required Microsoft to license popular Activision Blizzard games automatically to competing cloud gaming services. CLOUD GAMING MARKET GROWTHVestager said the Commission had a different view from UK regulators of how the game streaming market, which accounted for just 1% of the total market last year, would develop. "Microsoft and Activision’s lawyers will also use the decision to provide greater ballast to their appeal of the CMA's decision."

☆ Microsoft wins EU antitrust nod for Activision deal, after UK veto
▼ + stars: | 2023-05-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 15 (Reuters) - Microsoft has won EU antitrust approval for its $69 billion Activision takeover, which was vetoed by Britain, after regulators said its offer of free 10-year licensing deals to gamers and cloud streaming rivals addressed their concerns. The European Commission said on Monday that the biggest-ever deal in gaming was pro-competitive due to Microsoft's (MSFT.O) licensing deals, confirming a Reuters report in March. Such licenses are "practical and effective", European Union antitrust chief Margrethe Vestager told reporters. "Actually they significantly improve the condition for cloud game streaming compared to the present situation, which is why we actually consider them pro-competitive," she added. The EU watchdog said Microsoft has offered 10-year free licensing deals to European consumers and cloud game streaming services for Activision's (ATVI.O) PC and console games.

☆ Stocks making the biggest premarket moves: Shake Shack, Charles Schwab, H&R Block, DuPont and more
▼ + stars: | 2023-05-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Charles Schwab -- Stock in the brokerage firm added 2.4% in premarket trading. SoFi Technologies -- The stock sank nearly 6% in the premarket following a downgrade by Wedbush to underperform from neutral. The Wall Street firm said SoFi's fee income may be reaching a tipping point and it may need to raise capital this year to support growth. Dupont De Nemours -- Shares added 2.7% in premarket trading after Deutsche Bank upgraded the chemical company to buy from hold. The Wall Street firm said the stock was trading at a 50% discount to its peers.

☆ David Tepper’s Appaloosa hedge fund raises Uber stake, adds small bet on Cathie Wood's innovation fund
▼ + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge fund veteran David Tepper's Appaloosa Management dramatically increased its stake in Uber last quarter, while building a small bet on Cathie Wood's flagship innovation fund, according to a new regulatory filing. Tepper boosted his Uber stake by 390%, to $190 million, at the end of March, making it his third biggest holding. The hedge fund also hiked its stake in Alphabet to more than $200 million, making the Google parent Appaloosa's top holding. Meanwhile, Appaloosa also added an $80 million stake in FedEx last quarter, making the freight carrier its ninth biggest bet at the end of March. The hedge fund took a small stake in Ark Innovation Fund ( ARKK ), worth $20 million at the end of March.

☆ Warren Buffett's Berkshire Hathaway adds Capital One and these other stocks to holdings
▼ + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway made a slew of changes to its massive equity portfolio last quarter, including adding a financial stock during the latest banking crisis, according to a new regulatory filing. The Omaha-based conglomerate built a new stake in Capital One Financial in the first quarter, worth more than $950 million, the filing showed. Apple, Activision and more Berkshire hiked its two biggest holdings - Apple and Bank of America - slightly in the first quarter. Buffett said at Berkshire annual meeting that "it's not good news when any company passes its dividend, or cuts its dividend dramatically." Outside of top holdings, Berkshire added a small stake - worth about $40 million - in Diageo , a British alcoholic beverage company.

☆ ‘Big Short’ Michael Burry bought shares in a slew of regional banks last quarter amid banking crisis
▼ + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Michael Burry, known for calling the subprime mortgage crisis, bought shares in a number of regional banks last quarter, betting the industry could weather the crisis, according to a new regulatory filing. The famed investor said in mid-March, after the collapse of Silicon Valley Bank , that he expected the banking crisis to be over soon without severe damage. However, on May 1, First Republic was seized by regulators to become the biggest bank collapse since the 2008 financial crisis. Burry bought $2 million worth of First Republic Bank shares last quarter, the filing, which reflects Scion's holdings as of March 31, showed. Burry was depicted in Michael Lewis' book "The Big Short" and the subsequent Oscar-winning movie of the same name.

☆ Tiger-cub hedge fund Coatue drastically increases Big Tech holdings, doubles down on chip stocks
▼ + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Meta became Coatue's biggest holding at the end of March, with a stake worth $1.7 billion, the filing showed. The Facebook parent has been one of the biggest winners in the tech sector this year, rising nearly 100%. Chip giant Nvidia was Coatue's second-biggest holding at the end of March after the hedge fund raised the stake slightly. The New York-based fund also upped its AMD stake dramatically last quarter, making it its seventh-largest holding. The hedge fund also picked up Taiwan Semiconductor , building a new stake worth more than $500 million.

☆ Paul Tudor Jones says the Fed is done raising rates, stocks to finish the year higher from here
▼ + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire hedge fund manager Paul Tudor Jones believes the Federal Reserve has finished raising interest rates in its fight against inflation, and the stock market could grind higher this year. "I definitely think they are done," Jones said on CNBC's "Squawk Box" of the Fed's rate-hiking campaign. The central bank has hiked interest rates 10 times since March 2022, taking the fed funds rate to a target range of 5%-5.25%, the highest since August 2007. Jones shot to fame after he predicted and profited from the 1987 stock market crash. "We have no IPOs, no calendar, no secondaries, valuations are at 19 but nobody's rushing to offer so clearly, something is going on internally in the stock market," Jones said.

☆ Stocks making the biggest moves midday: Shake Shack, Charles Schwab, Activision Blizzard and more
▼ + stars: | 2023-05-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Oneok shares slid 7.7%. The IRS is due to release the report this week, the Wall Street Journal reported. Activision shares added 1%, while Microsoft was little changed. The Wall Street firm said shares trade at a significant discount to peers. The Coach and Kate Spade parent has a strong valuation and long-term investment case, the Wall Street firm said.

Some Chinatown residents benefited from the development boom, selling properties to developers or drawing more customers from increased foot traffic. Some residents have shown tentative support for the luxury buildings, saying they might make the neighborhood safer or bring in wealthier Asian residents who could boost Chinatown's economy. Manhattan Chinatown's housing stock is "really aged," which has led to costly fires, according to Thomas Yu, executive director of Asian Americans for Equality. Chinatowns and the pandemicMany debates surrounding luxury development and affordable housing were accelerated by the pandemic, which shuttered hundreds of businesses across Chinatowns. However, business owners who spoke with CNBC said Chinatown's businesses, though still recovering, are keeping the city's culture alive.

☆ Alphabet CEO to meet EU industry chief Breton, EU deputy chief May 24
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, May 12 (Reuters) - Alphabet (GOOGL.O) Chief Executive Officer Sundar Pichai will meet European Commission deputy chief Vera Jourova and EU industry chief Thierry Breton in Brussels on May 24, according to the European Commission's agenda on Friday. Breton is in charge of digital rules that will require Alphabet's Google and other tech giants to allow business users to access data generated on its platform, among other obligations. A list of don'ts include a ban on treating their services and products more favourably than rivals. Another set of new EU tech rules requires Google and other tech giants to do more to tackle illegal online content on their platforms. Reporting by Foo Yun Chee, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Check out the companies making headlines in premarket trading. Tesla — Elon Musk's electric vehicle company gained 2.3% in premarket trading. JD.com — The Chinese e-commerce company's U.S.-listed shares lost 1.4% Friday during premarket trading. PacWest — Shares gained 2.4% in the premarket after tumbling 22.7% in the previous session on deposit outflows. First Solar — Shares of the clean energy company climbed 5% in premarket trading after First Solar announced an acquisition of Evolar AB for up to $80 million.

☆ Baupost’s Seth Klarman ups his stakes in Alphabet, Coinbase to ride the tech rebound
▼ + stars: | 2023-05-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Baupost's Seth Klarman added to his technology holdings in the first quarter, including Google parent Alphabet and Coinbase , to take advantage of the big rebound in the sector, according to a new regulatory filing. Meanwhile, Klarman hiked his Coinbase bet by nearly 80% to $29 million. The cryptocurrency exchange was one of the biggest winners in the first quarter, jumping more than 90% to rebound from a dismal 2022. And just like Buffett, Klarman pivoted to technology in recent years to take advantage of growth stocks' leadership in the market. He gained $1.6 billion from hedging last year, which helped offset losses on the long side, the FT reported.

☆ Stocks making the biggest moves midday: First Solar, News Corp, Charles Schwab, Twilio and more
▼ + stars: | 2023-05-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:First Solar — Shares soared 26.48% after the solar company announced it is acquiring Evolar AB for up to $80 million. First Solar said the acquisition of the European company, which develops thin film used in solar panels, should accelerate its development of next-generation photovoltaic technology. News Corp — The media company's stock popped 8.48% after it reported an earnings and revenue beat for its fiscal third quarter after the bell Thursday, according to FactSet. JD.com — The Chinese e-commerce company's U.S.-listed shares slid 6.19%, a day after gaining 7.2% on an earnings beat. Charles Schwab — Shares of the brokerage firm rose 2.54% Friday after the company reported total client assets rose 1% in April.

☆ EU antitrust regulators extend decision on Broadcom, VMware deal to June 26
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, May 12 (Reuters) - EU antitrust regulators extended on Friday their deadline for a decision on U.S. chipmaker Broadcom's (AVGO.O) proposed $61 billion bid for cloud computing firm VMware (VMW.N) by three days to June 26. The deadline was extended in agreement with the companies, a European Commission spokesperson said. Broadcom Chief Executive Hock Tan last week sought to convince the European Commission of the merits of the deal at a closed hearing. The company is expected to offer remedies in the coming days. Reporting by Foo Yun Chee, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ I Got My Name From Connie Chung. So Did They. - The New York Times
▼ + stars: | 2023-05-11 | by ( Connie Wang | ) www.nytimes.com time to read: +21 min

In my freshman class alone, there was a Connie Zheng, a Connie Guo, a Connie Xu, a few Connie Chengs, and multiple Connie Wangs. That ayi was Constance Yu-Hwa Chung, or, as the world knows her, Connie Chung. Connie Chung hosting the “CBS Evening News” in 1991, the year after the author named herself Connie. Connie Wang Connie Koh Connie Yang Connie Tang Connie Jang Connie Chung Connie Moy Connie Huang Connie Kwok Connie Chang Connie Sun Connie Chung, center, surrounded by 10 members of Generation Connie. Clockwise from top right, Connie Yang, Connie Tang, Connie Moy, Connie Sun, Connie Chang, Connie Kwok, Connie Huang, Connie Jang, Connie Wang and Connie Koh.

☆ Stocks making the biggest moves midday: PTN, BYND, GOOGL, PACW and more
▼ + stars: | 2023-05-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

The entertainment giant also reported revenue and earnings in line with Wall Street's estimates, according to Refinitiv. AppLovin — Shares popped 23.53% following the company's first-quarter revenue beat. Unity Software's revenue of $500 million beat the $480 million expected from analysts polled by Refinitiv. Tapestry — Shares of the Coach parent jumped 8.27% after the company reported stronger-than-expected earnings and revenue for its latest quarter. Its first-quarter revenue came in at $441 million, versus analyst estimates of $425 million, according to Refinitiv.

☆ Stocks making the biggest moves premarket: PacWest, Disney, Robinhood and more
▼ + stars: | 2023-05-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

PacWest — Shares plunged 20% after the regional bank stock said deposits fell 9.5% for the week ended May 5. Other regional banks stocks moved lower on the news, with Western Alliance and First Horizon down 7.3% and 3.2%, respectively. The company also reported revenue and profit that was roughly in line with Wall Street's expectations. AppLovin — Shares soared more than 16% in premarket trading following the company's first-quarter revenue and-second quarter guidance beat after the bell Wednesday. Analysts had anticipated a loss of $1.01 per share on revenue of $90.8 million, according to Refinitiv.

☆ EU decision clearing $69 billion Microsoft, Activision deal expected May 15, sources say
▼ + stars: | 2023-05-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

[1/2] Activision games "Call of Duty" are pictured in a store in the Manhattan borough of New York City, New York, U.S., January 18, 2022. REUTERS/Carlo AllegriBRUSSELS, May 10 (Reuters) - EU antitrust regulators are set to approve Microsoft Corp's (MSFT.O) $69 billion acquisition of Activision (ATVI.O) next week, with May 15 as the likeliest date, people familiar with the matter said. The European Commission's imminent clearance comes nearly three weeks after the UK competition authority blocked the deal, the biggest-ever deal in gaming, over concerns it would hinder competition in cloud gaming. U.S. distributor Valve Corp, owner of the world's largest video game distribution platform, Steam, declined a contract saying it trusts Microsoft. (This story has been corrected to say that Valve does not have a licensing deal with Microsoft in paragraph 4)Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Yun"

25 mentions found