Tag: Hedge funds

GlaxoSmithKline defends itself against activist Elliott, recognizing need for ‘improved and sustained value’

GlaxoSmithKline GSK, +0.06% has issued a formal response to investor Elliott Management’s public letter this week calling for a shake-up of the pharmaceutical giant’s board of directors and executive team. GSK, one of the U.K.’s largest companies by market capitalization, backed its strategy and chief executive, Emma Walmsley, after the U.S. activist fund called on […]

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Michael Burry of ‘The Big Short’ reveals a $530 million bet against Tesla

Michael Burry attends the “The Big Short” New York premiere at Ziegfeld Theater on November 23, 2015 in New York City. Jim Spellman | WireImage | Getty Images Famed investor Michael Burry on Monday revealed in a regulatory filing a short position against Tesla worth more than half a billion. Burry, one of the first […]

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Wells Fargo upgrades Discovery, says the shares are cheap after Archegos sell-off

David Zaslav Anjali Sundaram | CNBC It’s time for investors to jump back into Discovery after stock was cut in half amid the Archegos firesale, according to Wells Fargo. Wells analyst Steven Cahall upgraded the stock to overweight on Thursday, saying in a note to clients that the share price was now cheap relative to […]

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How Goldman and Morgan Stanley avoided losses after fund meltdown burned Nomura, Credit Suisse

People are seen on Wall St. outside the New York Stock Exchange (NYSE) in New York City, March 19, 2021. Brendan McDermid | Reuters When investors are stampeding for the exits, it pays to be first out the door. That’s what happened when falling shares in ViacomCBS last week ignited a $20 billion wave of […]

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Stanley Druckenmiller, Bill Ackman are among the big early investors in hot IPO Coupang

Stanley Druckenmiller (L), and Bill Ackman CNBC South Korean e-commerce giant Coupang, which soared in its Wall Street debut, got early backing from a couple high-profile investors: Stanley Druckenmiller and Bill Ackman. Coupang, dubbed the Amazon of South Korea, nearly doubled from its initial public offering price of $35 per share shortly after Thursday’s midday […]

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