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Billionaire Paul Tudor Jones' Fund Just Sold Boeing and Bought This Popular Cryptocurrency Instead
Jones launched Tudor Investment Corp in 1980. In 1987, Jones correctly predicted the stock market crash on Black Monday when the Dow Jones fell by an incredible 22%. More than four decades after launching Tudor Investment Corp, Jones still serves as the chief investment officer of the company, which has reportedly generated average annual returns of 19%, according to Hedge Fund Alpha.
Treasuries Gain as Key Fed Inflation Figures Trail Estimates
(Bloomberg) -- US Treasuries were off their sessions highs late on Friday after a closely watched batch of inflation data came in below expectations, leading traders to lift the outlook for Federal Reserve interest-rate reductions next year.Most Read from BloombergReviving a Little-Known Modernist Landmark in BuffaloThe Architects Who Built MiamiNew York’s Congestion Pricing Plan Still Faces Legal HurdlesNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are
Oil steady as markets weigh Fed rate cut expectations, Chinese demand
HOUSTON (Reuters) -Oil prices settled little changed on Friday as markets weighed Chinese demand and interest rate-cut expectations after data showed cooling U.S. inflation. Brent crude futures closed up 6 cents, or 0.08%, at $72.94 a barrel. The U.S. dollar retreated from a two-year high, but was heading for a third consecutive week of gains, after data showed cooling U.S. inflation two days after the Federal Reserve cut interest rates but trimmed its outlook for rate cuts next year.
Is Recursion Pharmaceuticals Stock a Millionaire Maker?
Successfully navigating the stock market requires patience and a long-term perspective. Recursion Pharmaceuticals (NASDAQ: RXRX) is a clinical-stage biotech that may have that level of potential. The company harnesses artificial intelligence (AI) for drug discovery, promising to revolutionize medicine.
Battery maker Northvolt makes progress toward longer-term bankruptcy financing
Swedish electric-vehicle battery maker Northvolt said on Friday it expects to line up additional bankruptcy financing by late January after engaging with over 100 lenders and potential investors. Northvolt entered bankruptcy on Nov. 21 with a $100-million bankruptcy loan from Swedish truck maker Scania, a shareholder and its biggest customer. Northvolt attorney Jack Luze said at a Friday court hearing in Houston that the company had reached out to over 100 potential lenders and investors in search of new financing that would allow Northvolt to complete its restructuring.
Big Lots conducts going-out-of-business sales after sale of company falls through
Discount chain Big Lots is conducting going-out-of-business sales at its remaining locations after a sale of the company didn't materialize. The Columbus, Ohio-based retailer, which sells furniture, home decor and other items, filed for Chapter 11 bankruptcy protection in early September and said private equity firm Nexus Capital Management LP had agreed to acquire “substantially all of the company’s assets.” Big Lots said its goal would be to complete a sale by early January.
The Dow's losing streak showed its big weakness: Chart of the Week
With its 0.04% gain Thursday, the Dow finally broke its 10-day losing streak, the worst since the 70s. But this week’s performance was yet another reminder of why the historically important index is now more historical than important.
Dow Soars as Market Passes Final Inflation Test of 2024
The stock market on Friday put a dent in its steep slide from earlier this week, after the last major inflation test of the year came in cooler than expected. The Dow Jones Industrial Average gained 499 points, or 1.2%. The S&P 500 was up 1.1%. The Nasdaq Composite climbed up 1%. Stocks actually op
Rumble to receive $775 million strategic investment from Tether
Cryptocurrencies have soared since Donald Trump won the presidential election. Rumble said that following the completion of the transaction, Chris Pavlovski, Rumble's chairman and CEO, will retain his controlling stake in the company. While Tether will own a minority position in Rumble's outstanding common stock, it will not have the right to designate any members of Rumble's board.
Exclusive-Northern Oil and Gas in bid to acquire smaller rival Granite Ridge, sources say
(Reuters) -Northern Oil and Gas has made an acquisition offer for Granite Ridge Resources, a smaller U.S. producer with operations in basins including the Permian and Eagle Ford, according to people familiar with the matter. Minneapolis, Minnesota-based Northern has submitted at least two offers for Granite Ridge, the sources said, adding the latest bid, made in recent weeks, was at a roughly 20% premium to the target's share price. While Granite Ridge's management has rebuffed the overtures so far, Northern remains interested in a deal and could sweeten its offer next year, the sources said, requesting anonymity as the discussions are confidential.
3 Fantastic Stocks That Could Enjoy a Santa Claus Rally
Santa Claus will soon be on his way delivering presents to kids around the world. Three Motley Fool contributors think they've identified fantastic stocks that could be in a good position to benefit from a Santa Claus rally. Here's why they chose AbbVie (NYSE: ABBV), Novo Nordisk (NYSE: NVO), and Vertex Pharmaceuticals (NASDAQ: VRTX).
Why Investors Were Sweet on Stock-Split Stock Broadcom Today
Broadcom (NASDAQ: AVGO) is not only the best play on the artificial intelligence (AI) revolution, it's the best stock investment of all for 2025. On news of it granting Broadcom its top pick for 2025 status, investors pushed the stock's value up by more than 1% on Friday. Jefferies is the company behind the recommendation; Friday morning, it tapped Broadcom as its No. 1 stock for the coming year.
US finalizes up to $6.75 billion in chips awards for Samsung, Texas Instruments, Amkor
WASHINGTON (Reuters) -The U.S. Commerce Department said on Friday it was finalizing an award of up to $4.745 billion to South Korea's Samsung Electronics and up to $1.61 billion for Texas Instruments to expand chip production. The department also finalized an award of up to $407 million to help fund Amkor Technology's planned $2 billion advanced semiconductor packaging facility in Arizona, which is set to be the largest of its kind in the U.S. The Samsung award is about $1.7 billion smaller than the preliminary award announced in April of up to $6.4 billion and reflects its revised smaller investment plans, the department said.
Big Lots Sale to Nexus Falls Apart, Plans to Close Business
(Bloomberg) -- Bankrupt retailer Big Lots Inc. no longer anticipates it can complete its asset sale to private equity firm Nexus Capital Management LP and will commence the sale of its stores in coming days to protect the value of its real estate.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalThe discount chain that emplo
FedEx to spin off its freight trucking business
(Reuters) -FedEx announced the much-anticipated spinoff of its freight trucking division on Thursday, as it restructures operations to focus on its core delivery business. Shares jumped 8% in after-hours trading, adding $5 billion to FedEx's market capitalization. Analysts believe the spinoff could unlock up to $20 billion in shareholder value, while clearing the way for FedEx management to zero in on merging operations of its separate Express and Ground units to boost profits.
Trump transfers his stake in Trump Media to revocable trust
Trump transferred 114.75 million shares, or 53% of Trump Media & Technology's outstanding stock, to the revocable trust of which he is the sole beneficiary, according to securities filings. Trump said in November that he had no intention of selling his shares in the company, which owns the Truth Social media platform. Trump's eldest son, Donald Trump Jr., is the sole trustee of the trust and has sole voting and investment power over securities held by it, according to the securities filings.
Canada's retaliation for Trump tariffs is biggest concern, says Japan's Komatsu
The top business risk of the Trump presidency for heavy-duty equipment maker Komatsu is not the tariffs he has threatened, but Canada's potential retaliatory duties on American-made mining machines, the head of the Japanese company said. The view of a global manufacturer flags the possible knock-on impact of Trump's pledge for tariffs on imports from Canada, China and Mexico when he takes office, especially if the targets decide to retaliate with trade barriers on their own. Komatsu, the world's second-largest construction machinery company after Caterpillar, earns more than a quarter of its sales from North America and employs about 8,000 staff in the United States.
India, Australia brighten new share sales prospects for 2025 in Asia Pacific
Dealmakers expect the momentum for new share sales in India, now the world's busiest market for initial public offerings, and Australia in 2025 will cushion the impact of sluggish Chinese deals in the Asia Pacific. The Mumbai-based National Stock Exchange outranked the bigger U.S. exchanges in the amounts raised by IPOs for the first time, driven by India's robust economic growth and increasingly active domestic investors, following the rush of IPOs in 2024. There was a 149% increase in the value of IPOs in India in the past year to $18.4 billion, according to LSEG data, which contributed to total equity capital market activity almost doubling.
Bitcoin Is Great, but Here Are 3 Altcoins Worth Considering in 2025
The launch of the spot Bitcoin (CRYPTO: BTC) exchange-traded funds (ETFs) in January was a landmark event. For good reason, the ETFs are widely seen as one of the primary catalysts behind Bitcoin's triple-digit percentage gains this year. Tens of billions of dollars have flowed into these spot Bitcoin ETFs, and that has helped to push up the price of Bitcoin throughout the year.
Citi stays Buy on Micron despite worse than expected guidance
Citi says Micron (MU) reported strong results but guided below the firm’s recently-lowered estimates as the weakness in NAND and excess DRAM inventory in the PC and handset end markets is worse than previewed. However, Citi continues to believe the DRAM inventory correction should finish by the Spring as it has been occurring for several months and DRAM companies are lowering capex and production. It lowered estimates but reiterates a Buy rating and $150 price target on Micron. Published first o
How innovation died at Intel: America's only leading-edge chip manufacturer faces an uncertain future and lawsuits
Amid struggles to turn itself around, exclusive interviews with Intel executives and industry analysts reveal missed opportunities, poor decision making, and an unexpected AI boom that led to the chipmaker's demise.
TPG in advanced talks to buy Crown Castle's fiber unit for $8 billion, source says
Buyout firm TPG is in advanced talks to buy the fiber unit of tower operator Crown Castle for about $8 billion, a person familiar with the matter said. Shares of the Houston, Texas-based Crown Castle were up 2.1% in trading after the bell. TPG, along with fiber network owner Zayo Group, was vying for Crown Castle's fiber and wireless assets, Reuters had reported in October, citing people familiar with the matter.
JPMorgan, Wells Fargo, BofA facing federal lawsuit over Zelle payment network fraud
A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network Zelle, in violation of consumer financial laws. In the federal civil complaint, the Consumer Financial Protection Bureau asserts that the banks rushed to get the peer-to-peer payments platform to market without effective safeguards against fraud and then, after consumers complained about being defrauded on the service, largely denied them relief. The CFPB claims that the banks violated federal consumer financial laws governing electric funds transfers, which require banks conduct “reasonable investigations” when consumers report transaction errors, and the agency's prohibition on unfair acts or practices by failing to take steps to prevent and address fraud on Zelle.
Behind a potential Honda and Nissan tie-up, the existential threat posed by Chinese EVs
In the case of Honda and Nissan's potential merger, it is mostly defensive as Chinese rivals take the world by storm. While the challenge from China's seemingly boundless EV expertise looms large for all traditional automakers, for Japan it represents a threat to the vast car-manufacturing supply chain that has been the country's economic engine for years. Honda, Japan's second-largest car company, and Nissan, its third-largest, are in talks to deepen ties, including the possibility of setting up a holding company, two people familiar with the matter said on Wednesday.
President-elect Trump transfers close to $4 billion worth of his Trump Media shares to a trust
Shares of Trump Media and Technology Group slid in midday trading Friday after President-elect Donald Trump transferred all of his shares into a revocable trust, according to a regulatory filing. Trump transferred all of his nearly 115 million shares — worth around $4 billion on paper — in the parent company of social networking site Truth Social as a “bona fide gift” to the Donald J. Trump Revocable Trust, the Securities and Exchange Commission filing on Thursday said. It's not clear why Trump transferred the stock.
Morning Bid: Government shutdown and tariff fears jar year-end markets
U.S. government shutdown fears and fresh trade war threats cast another cloud over Wall Street as a bruising final full trading week of the year comes to a close and dampens what had been a stellar year for U.S. stocks. Already sideswiped by what was seen as a 'hawkish cut' in Federal Reserve interest rates on Wednesday, where the central bank lifted both its 2025 policy rate and inflation projections, the S&P 500 was in the red again late Thursday and futures were down almost 1% before Friday's bell. A spending bill backed by Donald Trump failed in the U.S. House of Representatives late Thursday as dozens of Republicans defied the President-elect, leaving Congress with no clear plan to avert a fast-approaching government shutdown that could disrupt Christmas travel.