• Your stock fund probably was a star in July (but the overall year is still painful) Link
    WSJ Markets Sun 07 Aug 2022 16:08

    Investors needing a morale boost should just read the “July” column of their 401(k) statement. The rest of the 2022 entries are still too depressing.

    Stocks rallied in July, a respite after months of declines. The average U.S.-stock mutual fund or exchange-traded fund rose 8.9% in the month, according to Refinitiv Lipper data. But for 2022 so far, through July, the funds are still down 14.4%. (Market indexes are little changed for August so far.)

  • Insurer spurs companies to mitigate climate-related risks with premium reductions Link
    WSJ Markets Sun 07 Aug 2022 10:42

    FM Global, one of the nation’s leading business insurers, will provide a 5% reduction in annual premium to its roughly 1,500 policyholders to spur them to better protect their property against risks including wildfire, floods and hurricanes.

    The carrier is taking the innovative step of providing what it calls a “resilience credit” as concern mounts worldwide that

  • “It’s hard for us to argue the market is cheap”: Earnings are expected to decline in the coming months, which would make the stock market look more expensive Link
    WSJ Markets Sun 07 Aug 2022 10:07
  • Coinbase ramped up staffing, but now trading volume is a quarter of its 2021 peak, and the company has made cuts Link https://t.co/hxpBI0N5iH
    WSJ Markets Sat 06 Aug 2022 22:04

    Brian Armstrong, an early devotee of blockchain technology, built the cryptocurrency exchange Coinbase Global to be big.

    He hired employees by the hundreds, pushed into new markets and scaled up the number of digital tokens available on the platform. Coinbase became the largest crypto exchange in America and went public in spring 2021 with a market value of nearly $86 billion.

  • RT @WSJ: Robinhood is slashing 23% of its full-time staff as retail investors fade from the platform amid a sharp slowdown in customer trad…
    WSJ Markets Sat 06 Aug 2022 21:19
  • Warren Buffett's Berkshire Hathaway posted a loss of $43.8 billion in the second quarter, compared with a profit of $28.1 billion in the year-earlier period Link
    WSJ Markets Sat 06 Aug 2022 20:14
  • Heard on the Street: Big market moves are unfolding in the wake of the U.S. House speaker’s visit and China’s response. But they still probably underestimate the real impact. Link
    WSJ Markets Sat 06 Aug 2022 19:59
    Nancy Pelosi, the speaker of the U.S. House, has come and gone in Taiwan. In her wake have come missile flyovers, enough discussion to briefly crash China’s Twitter-like microblogging service Weibo, the largest Chinese military exercises near the Taiwan Strait in decades—and for those on the island, a surreal sense of life mostly going on.

    Markets reacted strongly but not catastrophically. U.S. 10-year Treasury yields fell to a four-month low ahead of Mrs. Pelosi’s arrival as investors fled for safety—and then jumped back after her plane landed without incident. Taiwan’s main stock index, after a precipitous drop Tuesday, has since clawed back all that ground. Shares of Semiconductor Manufacturing International Corp China’s chip manufacturing national champion, which also dropped ahead of the visit, have gained 15% since her plane landed and China announced its military drills. The S&P Defense and Aerospace Select Index is up 9% since July 18, when news of Mrs. Pelosi’s...

  • Just 2.6% of 401(k)s have an ESG investment option. Should more retirement plans have such funds to choose from? Two sides debate it Link
    WSJ Markets Thu 16 Sep 2021 15:06

    Investors are pouring record amounts of money into mutual funds and exchange-traded funds that screen holdings based on environmental, social and governance (ESG) factors.

    Yet, odds are most people won’t find an ESG fund option in their 401(k) retirement-savings plan. Just 2.6% of 401(k) plans had an ESG option in 2019, according to the latest data from the Plan Sponsor Council of America.

  • Heard on the Street: Retail sales were strong last month despite the Delta variant. What happens if the Delta threat fades? Link
    WSJ Markets Thu 16 Sep 2021 15:01

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  • EA's #battlefield2024 delay just the latest sign that videogame makers are still struggling with WFH on major productions. But @djtgallagher reminds that launching a bad game on time is more costly -- Link
    WSJ Markets Thu 16 Sep 2021 14:21

    Staying home to play videogames is a fantasy for many. Making those games at home has turned out to be more of a nightmare.

    Electronic Arts said late Wednesday that it has delayed the release of its highly anticipated “Battlefield 2042” game by a month, to Nov. 19. The news actually came as a relief to investors who had been hearing rumors about an even bigger delay. EA shares were up 1% in morning trading Thursday following a drop of nearly 6% on Wednesday.

  • Electronic Arts’ “Battlefield 2042” game is just the latest release to be delayed as game publishers are still struggling with remote-work challenges. Link
    WSJ Markets Thu 16 Sep 2021 14:16

    Staying home to play videogames is a fantasy for many. Making those games at home has turned out to be more of a nightmare.

    Electronic Arts said late Wednesday that it has delayed the release of its highly anticipated “Battlefield 2042” game by a month, to Nov. 19. The news actually came as a relief to investors who had been hearing rumors about an even bigger delay. EA shares were up 1% in morning trading Thursday following a drop of nearly 6% on Wednesday.

  • Sales at retailers and restaurants grew 0.7% last month, a sign of the economic recovery’s resilience despite the Delta variant Link
    WSJ Markets Thu 16 Sep 2021 13:06

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  • How the father of Carvana’s CEO got a $3.6 billion stock windfall. The hot used-car company is structured to benefit the CEO’s family at shareholder’s expense, critics say. Link
    WSJ Markets Thu 16 Sep 2021 11:36

    Aside from Jeff Bezos, Mark Zuckerberg and members of Walmart Inc.’s Walton family, no individual has earned more from selling stock in their company over the past year than a used-car magnate from Arizona.

    Company filings show Ernie Garcia II, the father of Carvana Co.’s chief executive officer, has sold more than $3.6 billion of stock since October. The sales amount to 16% of his holdings in the company. He has benefited from an ownership structure that confers benefits on him and his family and allows them to maintain control of the business, according to company filings. Some of these benefits can come at the expense of other shareholders, according to the filings, a lawsuit, and corporate governance and tax analysts.

  • Cisco, Electronic Arts, Ryanair: What to Watch When the Stock Market Opens Today Link
    WSJ Markets Thu 16 Sep 2021 11:11
    Shares of network equipment maker Cisco Systems gained 1.3% after it announced plans to introduce new financial metrics and overhaul its reporting segments to showcase the growth of its software business. U.S.-listed shares of Ryanair Holdings gained 4.1% premarket after the Irish airline raised its five-year growth forecast to 225 million passengers by March 2026. Electronic Arts shares rose 1.8% premarket, recovering some of its loss from Wednesday after the video game company said it is delaying the release of “Battlefield 2042.” Wynn Resorts fell 2.6% premarket and Las Vegas Sands declined 2.3% as casino shares continued to face pressure. The government in Macau, the world’s biggest gambling hub, set expectations for the future of the industry.
  • Heard on the Street: The pandemic has shown that old-school car stocks like GM and Volkswagen are still driven more by sales than tech developments Link
    WSJ Markets Thu 16 Sep 2021 11:01

    The link between car sales and car stocks is as tight as ever. Detroit eventually needs a new business model, but better electric vehicles would be a good start.

    The semiconductor shortage is severely crimping car production and sales. As of Sept. 10, the problem had reduced third-quarter light-vehicle production by an estimated 3.1 million units, according to a tally kept by data provider IHS Markit —already well ahead of the 2.6 million second-quarter hit. Global sales last month were the lowest for August since 2011.

  • Taiwan’s Gogoro will go public in the U.S. via a special-purpose acquisition vehicle merger with Poema Global Holdings Link
    WSJ Markets Thu 16 Sep 2021 10:11

    Taiwan’s Gogoro Inc. will go public in the U.S. via a special-purpose acquisition vehicle merger with Poema Global Holdings Corp. that values the battery-swapping pioneer at more than $2.3 billion.

    On Thursday, the Taipei-based company said it plans to list on the Nasdaq Stock Market through a merger with Poema, a SPAC, giving it fresh funds as it moves to expand into China and India.

  • Shoppers love ‘buy-now, pay-later’ plans because they don’t need to have the cash. And retailers get the shoppers who don’t qualify for credit cards Link
    WSJ Markets Thu 16 Sep 2021 09:35

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  • A selloff in Chinese property stocks intensified, as concern mounted about a campaign to rein in the sector that has already sparked turmoil at China Evergrande Link
    WSJ Markets Thu 16 Sep 2021 07:50

    A selloff in Chinese property stocks intensified Thursday, as concern mounted about the effects of an official campaign to rein in the sector that has already sparked turmoil at China Evergrande Group .

    By early afternoon in Hong Kong, the Lippo Select HK & Mainland Property Index had fallen 5.4%, putting it on course for its lowest close in more than four years, FactSet data showed. The drawdown in property shares helped pull Hong Kong’s flagship Hang Seng Index down about 2%, setting the benchmark up for its lowest closing value of 2021.

  • RT @JChengWSJ: Beijing’s pressure on the real-estate sector is being felt far beyond Evergrande, raising questions about how much economic…
    WSJ Markets Thu 16 Sep 2021 03:10
  • RT @RhiannonHoyle: “Becoming more electric and sustainable is not just about batteries and alternative drives.” Car makers have tried to cu…
    WSJ Markets Thu 16 Sep 2021 00:40
  • Investment firm Lexington Partners is exploring a sale of its business, part of a popular niche of the red-hot private-equity industry, according to people familiar with the matter Link
    WSJ Markets Wed 15 Sep 2021 22:50

    Investment firm Lexington Partners LP is exploring a sale of its business, part of an increasingly popular niche of the red-hot private-equity industry, according to people familiar with the matter.

    Closely held Lexington, which specializes in buying secondhand stakes in private-equity funds, has hired Goldman Sachs Group Inc. to advise on a potential sale, which could value the firm at a few billion dollars, some of the people said.

  • Covid testing startup Prenetics Group is going public in a deal valuing it at $1.25 billion—the latest in a string of medical diagnostic companies to go public via a SPAC Link
    WSJ Markets Wed 15 Sep 2021 22:35

    Hong Kong-based Prenetics Group Ltd. is going public on the Nasdaq Stock Market via a special-purpose acquisition company, in a deal that values the medical diagnostic startup at $1.25 billion.

  • Former cryptocurrency fund manager Stefan Qin has been sentenced to 7½ years in prison Link
    WSJ Markets Wed 15 Sep 2021 20:30

    A cryptocurrency hedge-fund manager who lied about returns on his $90 million fund and siphoned money from its accounts to cover a lavish lifestyle was sentenced to 7½ years in prison Wednesday.

    Stefan Qin, 24 years old, pleaded guilty in February to one count of securities fraud after prosecutors said he ran the fund, Virgil Sigma Fund LP, like a Ponzi scheme for three years until its implosion in late 2020. The U.S. attorney’s office for the Southern District of New York said many of the more than 100 investors in the fund were scammed.

  • Amid bank opposition, House Democrats omitted a Biden IRS proposal from their tax bill. Treasury Secretary Janet Yellen is pushing lawmakers to add it. Link
    WSJ Markets Wed 15 Sep 2021 20:25

    Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig pressed lawmakers Wednesday to give the Internal Revenue Service more information about taxpayers’ bank accounts, as the Biden administration tries to salvage its struggling tax-compliance proposal.

    In letters to lawmakers, the administration officials again asked Congress to require banks to report annual inflows and outflows from bank accounts with at least $600 or at least $600 worth of transactions, a proposal aimed at letting the IRS target its audits more effectively. It would generate about $460 billion over a decade to cover the costs of Democrats’ planned expansion of the social safety net and climate-change policies, according to the administration.

  • U.S. stocks climbed through the day in a rebound for indexes that have come under renewed pressure this month Link https://t.co/20R31xW3aE
    WSJ Markets Wed 15 Sep 2021 20:10

    U.S. stocks rose Wednesday, staging a rebound as investors tried to gauge the strength of the economic recovery.

    The S&P 500 rose about 0.9% as of the 4 p.m. close of trading in New York. The broad stocks gauge on Tuesday fell for the sixth time in seven trading days. It finished Wednesday roughly 1.3% below the all-time closing high it notched in early September.

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