Snap has lost more than $20 billion in value since its IPO and it could be about to get worse

“We do not see this as necessarily the bottom,” Gibbs said on CNBC’s “Trading Nation” on Wednesday. Stacey Gilbert, market strategist at Susquehanna, says her firm also has a negative view on the social network. “Our internet analyst Shyam Patel had a great call on this,” Gilbert said on “Trading Nation” on Wednesday. Options activity suggest Gibbs and Gilbert are not alone in their doubts over Snap’s future performance. Snap is one of the most heavily shorted stocks on Wall Street with short in


“We do not see this as necessarily the bottom,” Gibbs said on CNBC’s “Trading Nation” on Wednesday. Stacey Gilbert, market strategist at Susquehanna, says her firm also has a negative view on the social network. “Our internet analyst Shyam Patel had a great call on this,” Gilbert said on “Trading Nation” on Wednesday. Options activity suggest Gibbs and Gilbert are not alone in their doubts over Snap’s future performance. Snap is one of the most heavily shorted stocks on Wall Street with short in
Snap has lost more than $20 billion in value since its IPO and it could be about to get worse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: keris lahiff, philippe huguen, afp, getty images, martyn goddard, ander gillenea, lucas jackson, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, worst, negative, billion, short, social, value, lost, gibbs, gilbert, trading, seeing, 20, ipo, stock, net, snap, worse


Snap has lost more than $20 billion in value since its IPO and it could be about to get worse

Snap stock has all but given up the ghost.

The social network was worth $31 billion after its public debut in March 2017. Now it’s less than $8 billion.

The stock took another tumble Wednesday, dropping 13 percent in its worst performance since May, after the hasty exit of Chief Financial Officer Tim Stone just eight months into his role.

Erin Gibbs, portfolio manager at S&P Global, says watch out below, the worst is yet to come.

“We do not see this as necessarily the bottom,” Gibbs said on CNBC’s “Trading Nation” on Wednesday. “The fact that your CFO is walking away from 80 percent of the stock that he got as a signing bonus is a clear indication of how he thinks the company is going to go.”

That’s not all that has Gibbs worried about Snapchat’s parent company.

“The earnings estimates are actually going even lower in the past month and they weren’t that stellar to begin with,” she said.

Snap is expected to post a net loss of 19 cents a share when it reports earnings on Feb. 5, according to analysts surveyed by FactSet. In the same quarter a year earlier, it had reported a net loss of 28 cents a share.

“Certainly the stock could go farther down, and I wouldn’t say that this is the point to get in,” added Gibbs.

Stacey Gilbert, market strategist at Susquehanna, says her firm also has a negative view on the social network.

“Our internet analyst Shyam Patel had a great call on this,” Gilbert said on “Trading Nation” on Wednesday. “His concerns … continue to be that ad buyers are not seeing the return on investments that other platforms like Facebook and Instagram are doing and users are fleeing.”

Options activity suggest Gibbs and Gilbert are not alone in their doubts over Snap’s future performance.

“The flow we’re seeing is really more consistent with those that are protecting short positions, not any one positioning for longer-term growth here,” said Gilbert. “This is a negative. We’re avoiding it.”

Snap is one of the most heavily shorted stocks on Wall Street with short interest at 23.7 percent of its float.


Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: keris lahiff, philippe huguen, afp, getty images, martyn goddard, ander gillenea, lucas jackson, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, worst, negative, billion, short, social, value, lost, gibbs, gilbert, trading, seeing, 20, ipo, stock, net, snap, worse


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

BlackRock results fall short of expectations, assets fall back below $6 trillion

Earnings for the asset manager fell nearly 60 percent to $927 million over the past year. “We had huge equity declines in the fourth quarter, we had commodity declines. Sales at the financial giant totaled $3.434 billion, missing analyst expectations of $3.516 billion, a 9 percent slump from the fourth quarter of 2017. The firm saw $50 billion of fourth quarter total net inflows and $124 billion of full-year inflows. The New York City-based asset manager returned $3.6 billion to shareholders in


Earnings for the asset manager fell nearly 60 percent to $927 million over the past year. “We had huge equity declines in the fourth quarter, we had commodity declines. Sales at the financial giant totaled $3.434 billion, missing analyst expectations of $3.516 billion, a 9 percent slump from the fourth quarter of 2017. The firm saw $50 billion of fourth quarter total net inflows and $124 billion of full-year inflows. The New York City-based asset manager returned $3.6 billion to shareholders in
BlackRock results fall short of expectations, assets fall back below $6 trillion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: thomas franck, cameron costa
Keywords: news, cnbc, companies, quarterly, net, short, blackrock, trillion, million, fourth, expectations, results, billion, tax, fall, share, assets, manager, asset, quarter


BlackRock results fall short of expectations, assets fall back below $6 trillion

BlackRock, the largest asset manager in the world, reported quarterly earnings and revenue that missed analysts’ expectations on Wednesday as a market downturn late last year eroded its asset base.

Earnings for the asset manager fell nearly 60 percent to $927 million over the past year. On an adjusted basis, earnings per share were $6.08, falling short of analyst expectations of $6.27 per share. BlackRock’s adjusted reported bottom line represents a 2 percent decline from the year-earlier period, when its posted a profit of $6.19 per share.

To be sure, the President Donald Trump’s Tax Cuts and Jobs Act boosted BlackRock’s finances in 2017. Its 2017 fourth-quarter income tax benefit included $1.2 billion of net tax benefit related to the and included an $84 million discrete tax benefit.

BlackRock’s closely-followed assets under management totaled $5.98 trillion at the end of the quarter, a 5 percent decline over the past 12 months and a 7 percent slip from the prior quarter. However, CEO Larry Fink told CNBC’s “Squawk Box” on Wednesday that since the end of the quarter, the company’s assets under management had inched back above $6 trillion.

“We had huge equity declines in the fourth quarter, we had commodity declines. We had about a 5 percent decay in our asset base, not because of outflow, but because the market fell,” Fink said on Wednesday. “We all know the fourth quarter was a pretty severe down graph in the equity markets and that reflects in our net asset value, but we had organic growth unlike the majority of the industry.”

The U.S. equity markets suffered a tough end to 2018, with both the Dow Jones Industrial Average and the S&P 500 falling more than 10 percent in the three months ended Dec. 31. Both indexes posted their worst December since the Great Depression as fears of slowing economic growth and rising borrowing costs kept corporate leaders on-edge.

Sales at the financial giant totaled $3.434 billion, missing analyst expectations of $3.516 billion, a 9 percent slump from the fourth quarter of 2017. Revenue from its advisory, administration and lending business fell to $2.8 billion, a decline of $118 million over the last year.

The company’s board of directors approved an increase in its quarterly cash dividend, bumping it to $3.30. The financial giant also saw record quarterly inflows of $81 billion in its iShares business as the high-growth exchange-traded fund segment continues to expand. The firm saw $50 billion of fourth quarter total net inflows and $124 billion of full-year inflows.

The New York City-based asset manager returned $3.6 billion to shareholders in 2018, including $1.7 billion of full year share repurchases.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: thomas franck, cameron costa
Keywords: news, cnbc, companies, quarterly, net, short, blackrock, trillion, million, fourth, expectations, results, billion, tax, fall, share, assets, manager, asset, quarter


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Chinese growth is more of a concern than the American economy right now, private bank says

The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank. Still, he ultimately expressed optimism that China’s leaders will keep their economy together. “The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told CNBC’s “Squawk Box.” Adding the tariff battle between the two largest economies just means growth will be “a bit more difficult” for Beijing, he noted. “This is s


The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank. Still, he ultimately expressed optimism that China’s leaders will keep their economy together. “The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told CNBC’s “Squawk Box.” Adding the tariff battle between the two largest economies just means growth will be “a bit more difficult” for Beijing, he noted. “This is s
Chinese growth is more of a concern than the American economy right now, private bank says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: everett rosenfeld, lintao zhang, pool, getty images
Keywords: news, cnbc, companies, chinas, brill, cause, bigger, economy, chinese, private, right, concern, american, term, growth, bank, short


Chinese growth is more of a concern than the American economy right now, private bank says

The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank.

Speaking to CNBC on Friday, Felix Brill, the head of investment solutions at Liechtenstein-based VP Bank, said investors should expect more market volatility due to the ongoing trade war negotiations between Washington and Beijing. Still, he ultimately expressed optimism that China’s leaders will keep their economy together.

“The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told CNBC’s “Squawk Box.”

He added that there are “clear signs” that China’s economy is slowing in the short term, and there may be more dragging on the nation as it looks to transition its economic model from one led by exportation to a more consumption-driven approach. Adding the tariff battle between the two largest economies just means growth will be “a bit more difficult” for Beijing, he noted.

But, Brill said, that doesn’t mean China won’t be able to push through those challenges.

“This is some cause for concern in the short term, but I’m confident that the Chinese authorities, again, will step in and implement additional measures to support the economy,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: everett rosenfeld, lintao zhang, pool, getty images
Keywords: news, cnbc, companies, chinas, brill, cause, bigger, economy, chinese, private, right, concern, american, term, growth, bank, short


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Marijuana grower Tilray soars more than 20% after Peter Thiel-backed fund says it won’t sell

Tilray popped 24 percent Friday after its largest shareholder, a private equity fund backed by Peter Thiel, said it will not sell any of its remaining stake following the expiration of the marijuana grower’s IPO lockup period next week. “Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019.” This eased concerns of shareholders in the volatile stock and spurred short sellers betting against Privateer to close their pos


Tilray popped 24 percent Friday after its largest shareholder, a private equity fund backed by Peter Thiel, said it will not sell any of its remaining stake following the expiration of the marijuana grower’s IPO lockup period next week. “Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019.” This eased concerns of shareholders in the volatile stock and spurred short sellers betting against Privateer to close their pos
Marijuana grower Tilray soars more than 20% after Peter Thiel-backed fund says it won’t sell Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: thomas franck, adam jeffery
Keywords: news, cnbc, companies, grower, shares, tilray, thielbacked, prevent, weekprivateer, privateer, sell, soars, peter, marijuana, short, period, wall, 20, lockup, fund, wont


Marijuana grower Tilray soars more than 20% after Peter Thiel-backed fund says it won't sell

Tilray popped 24 percent Friday after its largest shareholder, a private equity fund backed by Peter Thiel, said it will not sell any of its remaining stake following the expiration of the marijuana grower’s IPO lockup period next week.

“Privateer Holdings strongly believes in Tilray’s long-term global growth strategy and pioneering role in shaping the future of the legal cannabis industry,” said Michael Blue, a managing partner at Privateer, which owns about 80 percent of Tilray. “Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019.”

This eased concerns of shareholders in the volatile stock and spurred short sellers betting against Privateer to close their positions to prevent further losses, a phenomenon known on Wall Street as a short squeeze.

Tilray shares are up nearly 500 percent since their initial public offering on the Nasdaq in July. Such lockup periods are designed to prevent company insiders — including employees, their friends and family and venture capitalists — from selling their shares for a set period of time, according to the Securities and Exchange Commission.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: thomas franck, adam jeffery
Keywords: news, cnbc, companies, grower, shares, tilray, thielbacked, prevent, weekprivateer, privateer, sell, soars, peter, marijuana, short, period, wall, 20, lockup, fund, wont


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Nasdaq Dubai launches Saudi futures in bid to diversify investor offering

The Nasdaq Dubai has launched futures trading on shares of 12 Saudi Arabian companies, its first single stock futures outside of the United Arab Emirates. The move aims to diversify financial offerings to regional and international investors, allowing them to both invest in and trade Saudi companies on the Emirati exchange. The companies now available for futures trading on the Dubai exchange comprise a market capitalization of 794 billion Saudi riyals ($212 billion) and cover sectors including


The Nasdaq Dubai has launched futures trading on shares of 12 Saudi Arabian companies, its first single stock futures outside of the United Arab Emirates. The move aims to diversify financial offerings to regional and international investors, allowing them to both invest in and trade Saudi companies on the Emirati exchange. The companies now available for futures trading on the Dubai exchange comprise a market capitalization of 794 billion Saudi riyals ($212 billion) and cover sectors including
Nasdaq Dubai launches Saudi futures in bid to diversify investor offering Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: natasha turak, nasdaq dubai
Keywords: news, cnbc, companies, bid, offering, investors, billion, investor, companies, futures, saudi, short, diversify, launches, trading, dubai, international, nasdaq


Nasdaq Dubai launches Saudi futures in bid to diversify investor offering

The Nasdaq Dubai has launched futures trading on shares of 12 Saudi Arabian companies, its first single stock futures outside of the United Arab Emirates. The move aims to diversify financial offerings to regional and international investors, allowing them to both invest in and trade Saudi companies on the Emirati exchange.

The companies now available for futures trading on the Dubai exchange comprise a market capitalization of 794 billion Saudi riyals ($212 billion) and cover sectors including real estate, mining, banks, industrial materials and petrochemicals.

“This is a very good opportunity for investors out of the region to be able to hedge or take positions, long or short, when it comes to Saudi markets,” Nasdaq Dubai Chief Executive Hamed Ali told CNBC on Wednesday. “It’s a product that complements the current Saudi market, rather than competes with it.”

Futures are financial products used to speculate on the price movement of an underlying asset. Going short is betting that a company’s share price will fall.

Despiteweakened international confidence in Saudi Arabia after a slew of political controversies over the last year, the Nasdaq Dubai’s senior management see promise in the oil-rich kingdom’s reform agenda. Ali emphasized his confidence on Saudi Arabia’s planned reforms toward a more open economy and remained optimistic on the country’s outlook.

Indeed, the kingdom’s inclusion in the MSCI emerging markets index slated for this year is expected to attract some $15 billion in passive funds and several billions more in active funds. Investors have pointed to Riyadh’s easing of some regulatory requirements and adoption of international best practice procedures as signs of progress.


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: natasha turak, nasdaq dubai
Keywords: news, cnbc, companies, bid, offering, investors, billion, investor, companies, futures, saudi, short, diversify, launches, trading, dubai, international, nasdaq


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cramer’s lightning round: Be ‘very careful’ with this stock—it’s in a ‘giant short squeeze’

Stamps.com Inc.: “This is a giant short squeeze. I want you to be very, very careful of this stock. It is a wild trader and it is not my favorite because I don’t really understand how they make a lot of money. I have to investigate, because I’ve got to tell you, I think this is one of the great stocks. It’s not going to go to $0, but I think that Kraft Heinz is a stock that, if it goes back to $50, I want you to sell, sell, sell.


Stamps.com Inc.: “This is a giant short squeeze. I want you to be very, very careful of this stock. It is a wild trader and it is not my favorite because I don’t really understand how they make a lot of money. I have to investigate, because I’ve got to tell you, I think this is one of the great stocks. It’s not going to go to $0, but I think that Kraft Heinz is a stock that, if it goes back to $50, I want you to sell, sell, sell.
Cramer’s lightning round: Be ‘very careful’ with this stock—it’s in a ‘giant short squeeze’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, lightning, really, careful, squeeze, stock, sell, ive, 20, tell, short, heinz, giant, think, going, cramers, round, stockits, zero


Cramer's lightning round: Be 'very careful' with this stock—it's in a 'giant short squeeze'

Stamps.com Inc.: “This is a giant short squeeze. I want you to be very, very careful of this stock. It is a wild trader and it is not my favorite because I don’t really understand how they make a lot of money. I do welcome them on the show, though.”

Medtronic PLC: “People were saying that they actually gave you a view of fiscal [year] ’20 that was below what people were looking for. I have to investigate, because I’ve got to tell you, I think this is one of the great stocks. I’m not giving up on Medtronic until I’ve done a little more work.”

Transocean Ltd.: “At this point, I want you to hold on. I think this group is dramatically oversold, but I will tell you: about 20 to 25 percent higher, you’re going to have to exit because it’s just not that kind of market. They need $100 oil to really kill it.”

Kraft Heinz Co.: “This stock has what I call no mojo. This stock is a goal-post hitter and then a bounce off and then a zero. It’s not going to go to $0, but I think that Kraft Heinz is a stock that, if it goes back to $50, I want you to sell, sell, sell. Can I be more clear? No.”

HMS Holdings Corp.: “If that’s what you like, you want to be in that cohort, then I suggest you go back to Centene, CNC, which is off horribly from $148, all the way down to $115.”


Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, lightning, really, careful, squeeze, stock, sell, ive, 20, tell, short, heinz, giant, think, going, cramers, round, stockits, zero


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Eddie Lampert’s bid for Sears may be short. May liquidate without fix

Sears’ advisors are testing just how much Chairman Eddie Lampert wants to keep the retailer alive. Lampert has put forward a $4.4 billion bid to save Sears and 50,000 jobs by buying it out of bankruptcy through his hedge fund ESL Investments. His offer, though, which is largely funded with outside sources of capital, is facing tough scrutiny from Sears advisors, people familiar with the situation tell CNBC. Sears advisors’ have until 4:00 p.m. ESL has stressed that all transactions it did with S


Sears’ advisors are testing just how much Chairman Eddie Lampert wants to keep the retailer alive. Lampert has put forward a $4.4 billion bid to save Sears and 50,000 jobs by buying it out of bankruptcy through his hedge fund ESL Investments. His offer, though, which is largely funded with outside sources of capital, is facing tough scrutiny from Sears advisors, people familiar with the situation tell CNBC. Sears advisors’ have until 4:00 p.m. ESL has stressed that all transactions it did with S
Eddie Lampert’s bid for Sears may be short. May liquidate without fix Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: lauren hirsch, gregory bull
Keywords: news, cnbc, companies, sears, lampert, transactions, short, esl, fix, advisors, bankruptcy, bid, way, offer, save, liquidate, lamperts, eddie


Eddie Lampert's bid for Sears may be short. May liquidate without fix

Sears’ advisors are testing just how much Chairman Eddie Lampert wants to keep the retailer alive.

Lampert has put forward a $4.4 billion bid to save Sears and 50,000 jobs by buying it out of bankruptcy through his hedge fund ESL Investments. His offer, though, which is largely funded with outside sources of capital, is facing tough scrutiny from Sears advisors, people familiar with the situation tell CNBC. If the two are unable to find a resolution, it could force Sears to liquidate.

The 125-year-old retailer, which also owns Kmart, filed for bankruptcy in October. At the time, it employed 68,000 workers.

Sears advisors’ have until 4:00 p.m. ET on Friday to decide whether ESL’s bid is viable. The company and ESL met earlier this week to discuss its bid, without agreeing to a compromise.

The offer has raised a number of flags, the people said. It is short of covering the fees and vendor payment it owes, making it “administratively insolvent.”

A continuing issue is the $1.8 billion that Lampert put toward his offer by forgiving debt owed to ESL through a so-called credit bid. The restructuring committee advising Sears is not confident the bankruptcy judge will allow Lampert to use a credit bid without addressing a pending investigation about Sears transactions under Lampert’s ownership, the people said.

Sears’ unsecured creditors have said there may be claims against Sears for those deals, which include Sears’ spinoff of Lands’ End and transactions with Seritage Growth Properties, a real estate investment trust Lampert created through some Sears’ properties.

ESL has stressed that all transactions it did with Sears during Lampert’s tenure were approved by Sears’ board.

As with all bankruptcy negotiations, it remains possible either side will make concessions to end the disagreement. The two parties therefore could come to a resolution to divert liquidation.

Lampert has in his corner several powerful bargaining cards. His offer is the singular guarantee of the employment of roughly 50,000 jobs and preservation an American icon. Keeping Sears alive may be the only way to ensure its other businesses, like Sears Home Services, can continue on as well. ESL has argued that its offer, therefore, can provide Sears’ creditors with the most value.

ESL has pushed for Sears to keep its bid in the ring until at least Jan. 14, when it could compare it against other offers for its various businesses, one of the people said. Sears is meeting with the bankruptcy judge Friday to discuss its decision, another person said.

But if Sears demands more cash from ESL, it will likely face opposition from Lampert.

Lampert had, over the course of several years, poured billions of dollars into Sears through ESL. He was driven by a belief in his ability to turn the company around, according to people familiar with his thinking. Lampert believed he could save Sears — which hasn’t turned a profit since 2010 — by converting shoppers from its loyalty program, Shop Your Way.


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: lauren hirsch, gregory bull
Keywords: news, cnbc, companies, sears, lampert, transactions, short, esl, fix, advisors, bankruptcy, bid, way, offer, save, liquidate, lamperts, eddie


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hedge fund all-star David Einhorn posts his worst year ever, losing 34% in 2018

Billionaire hedge fund manager David Einhorn just ended his worst year ever. His Greenlight Capital’s main fund lost 9 percent in December, bringing its decline for 2018 to 34 percent, the worst performance since Einhorn started the firm in 1996, according to figures obtained by CNBC’s Scott Wapner. However, Einhorn’s hedge funds underperformed the market drastically — the S&P 500 ended 2018 down just 7 percent. He confirmed he was short Lehman a few months before the firm declared bankruptcy. T


Billionaire hedge fund manager David Einhorn just ended his worst year ever. His Greenlight Capital’s main fund lost 9 percent in December, bringing its decline for 2018 to 34 percent, the worst performance since Einhorn started the firm in 1996, according to figures obtained by CNBC’s Scott Wapner. However, Einhorn’s hedge funds underperformed the market drastically — the S&P 500 ended 2018 down just 7 percent. He confirmed he was short Lehman a few months before the firm declared bankruptcy. T
Hedge fund all-star David Einhorn posts his worst year ever, losing 34% in 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: yun li, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, posts, hedge, 34, market, scott, david, einhorn, allstar, 2018, losing, worst, fund, short, lehman, manager


Hedge fund all-star David Einhorn posts his worst year ever, losing 34% in 2018

Billionaire hedge fund manager David Einhorn just ended his worst year ever.

His Greenlight Capital’s main fund lost 9 percent in December, bringing its decline for 2018 to 34 percent, the worst performance since Einhorn started the firm in 1996, according to figures obtained by CNBC’s Scott Wapner.

This collapse came in a dismal year when stocks and other risk assets took a huge hit from the ongoing trade battles and slowing global growth. However, Einhorn’s hedge funds underperformed the market drastically — the S&P 500 ended 2018 down just 7 percent.

Greenlight’s largest holdings include General Motors, insurer Brighthouse Financial and homebuilder Green Brick Partners, which all struggled in 2018, bleeding as much as 47 percent.

2018 sharply contrasted Einhorn’s early years, when he scored some of Wall Street’s best returns including 24 percent in 2006 and 32 percent in 2009. Einhorn also called the collapse of Lehman Brothers, perhaps the most prescient call of the entire financial crisis. He confirmed he was short Lehman a few months before the firm declared bankruptcy.

When it comes to losing money, Einhorn wasn’t shy about expressing his frustration. In a letter to investors in July, he said “over the past three years, our results have been far worse than we could have imagined, and it’s been a bull market to boot.”

“Yes, we have made some obvious mistakes — the worst of which was not assessing that SunEdison was a fraud in 2015 — but there have been others. A number of years ago one of our investors said Amazon would surpass Apple and become the most valuable company in the world. We didn’t get it then and, truthfully, we don’t really get it now,” he said in the July letter.

His funds have been lackluster since 2015 when they lost more than 20 percent. They returned 7 percent in 2016 and 1.5 percent in 2017.

The hedge fund manager recently became a critic and short seller of Tesla, even comparing the electric car maker to his call on Lehman Brothers.

— CNBC’s Scott Wapner contributed reporting.

WATCH: Greenlight’s David Einhorn sells remaining Apple shares


Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: yun li, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, posts, hedge, 34, market, scott, david, einhorn, allstar, 2018, losing, worst, fund, short, lehman, manager


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Netflix shares fall to start the new year as analyst says subscriber growth fell short last quarter

Netflix shares slipped in premarket trading Wednesday after SunTrust Robinson Humphrey said the streaming giant added fewer subscribers than expected last quarter. “Our Subscriber Tracker, through November, is pointing to 4Q sub adds slightly below consensus,” analyst Matthew Thornton said. “We’re lowering our year-end 2019 price target … to reflect higher interest/discount rates and lower comparable multiples.” Netflix stock fell 2.1 percent in premarket trading from Monday’s close of $267.66


Netflix shares slipped in premarket trading Wednesday after SunTrust Robinson Humphrey said the streaming giant added fewer subscribers than expected last quarter. “Our Subscriber Tracker, through November, is pointing to 4Q sub adds slightly below consensus,” analyst Matthew Thornton said. “We’re lowering our year-end 2019 price target … to reflect higher interest/discount rates and lower comparable multiples.” Netflix stock fell 2.1 percent in premarket trading from Monday’s close of $267.66
Netflix shares fall to start the new year as analyst says subscriber growth fell short last quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: michael sheetz, philippe huguen, afp, getty images
Keywords: news, cnbc, companies, price, stock, quarter, neumann, shares, trading, fell, start, analyst, fall, share, premarket, growth, short, target, streaming, netflix, subscriber


Netflix shares fall to start the new year as analyst says subscriber growth fell short last quarter

Netflix shares slipped in premarket trading Wednesday after SunTrust Robinson Humphrey said the streaming giant added fewer subscribers than expected last quarter.

“Our Subscriber Tracker, through November, is pointing to 4Q sub adds slightly below consensus,” analyst Matthew Thornton said. “We’re lowering our year-end 2019 price target … to reflect higher interest/discount rates and lower comparable multiples.”

Netflix stock fell 2.1 percent in premarket trading from Monday’s close of $267.66. Shares of the widely traded member of the “FANG” tech basket lost 28 percent last quarter as investors bailed on momentum stocks amid a broader market sell-off. The stock still managed to finish 2018 up more than 30 percent.

The streaming company is also expected to soon announce the appointment of Spencer Neumann as chief financial officer, replacing long-time CFO David Wells. Netflix is reportedly bringing in Neumann, the former CFO of Activision Blizzard, to focus on the company’s production finances.

SunTrust lowered its price target to $355 a share from $410 a share.

– CNBC’s Michael Bloom contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: michael sheetz, philippe huguen, afp, getty images
Keywords: news, cnbc, companies, price, stock, quarter, neumann, shares, trading, fell, start, analyst, fall, share, premarket, growth, short, target, streaming, netflix, subscriber


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Suzy Welch: The New Year’s resolution that can supercharge your career

With a journal, Welch says, you will be able to “see the arc of your experience” in terms of what you learned, how you’ve grown and the good and bad times you encountered. “In a few minutes a day, you can significantly upgrade your performance reviews and gain invaluable insight into your career,” she says. “Make this resolution when the ball drops, and on December 31, 2019, you can thank your journal for the memories that matter.” Suzy Welch is the co-founder of the Jack Welch Management Instit


With a journal, Welch says, you will be able to “see the arc of your experience” in terms of what you learned, how you’ve grown and the good and bad times you encountered. “In a few minutes a day, you can significantly upgrade your performance reviews and gain invaluable insight into your career,” she says. “Make this resolution when the ball drops, and on December 31, 2019, you can thank your journal for the memories that matter.” Suzy Welch is the co-founder of the Jack Welch Management Instit
Suzy Welch: The New Year’s resolution that can supercharge your career Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-20  Authors: courtney connley
Keywords: news, cnbc, companies, welch, short, need, performance, resolution, journaling, public, supercharge, suzy, memories, career, way, journal


Suzy Welch: The New Year's resolution that can supercharge your career

Welch says that writing short journal entries of 50 words or less can help you keep track of everything you experience at work, and allow you to use your observations to check your growth, resolve challenges and plan for the future.

Reviewing your daily journal is also an excellent way to prepare for your next performance review.

“At most of these meetings, you and your boss tend to focus on what happened in the previous two to three months, which can give short shrift to your accomplishments overall,” she says. But, by journaling daily and reviewing your entries, Welch says you can turn your review into an in-depth conversation about the full scope of your accomplishments and how you dealt with challenges throughout the year.

“There is a second, more personal reason for keeping a journal,” she says, “and that’s for your own reflection, especially if you get to a point where you’re thinking about leaving your job.”

With a journal, Welch says, you will be able to “see the arc of your experience” in terms of what you learned, how you’ve grown and the good and bad times you encountered. “Memories are OK — but they’re emotional,” she says. “What you want — what you need — is a reliable answer to those questions…in black and white.”

Welch says that whether you prefer to download a digital journaling app on your smartphone or put pen to paper the old fashioned way, “how you keep a journal is unimportant compared to making sure you do keep one.”

“In a few minutes a day, you can significantly upgrade your performance reviews and gain invaluable insight into your career,” she says. “Make this resolution when the ball drops, and on December 31, 2019, you can thank your journal for the memories that matter.”

Suzy Welch is the co-founder of the Jack Welch Management Institute and a noted business journalist, TV commentator and public speaker. Think you need Suzy to fix your career? Email her at gettowork@cnbc.com.

Video by Beatriz Bajuelos Castillo

Like this story? Subscribe to CNBC Make It on YouTube!

More from Suzy Welch:

The fool-proof public speaking tip that will make you sound like a pro

Ask these 3 questions before changing careers

What to say when an interviewer asks, ‘What are your salary requirements?’


Company: cnbc, Activity: cnbc, Date: 2018-12-20  Authors: courtney connley
Keywords: news, cnbc, companies, welch, short, need, performance, resolution, journaling, public, supercharge, suzy, memories, career, way, journal


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post