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Billionaire investor Stanley Druckenmiller dumped Facebook parent Meta before its one-day $230 billion wipeout — and took stakes in Snap and Chevron
https://markets.businessinsider.com/news/stocks/stanley-druckenmiller-facebook-meta-snap-chevron-13f-duquesne-office-holdings-2022-2
He dumped his holdings in Meta before the company's shocking 26% plunge in share price earlier this month. Meta lost more than $230 billion in value on February 3, the largest one-day loss in US corporate history, after posting a $10 billion operating loss from its metaverse business. It warned of further hefty losses this year due to the impact of Apple's privacy changes.
Billionaire investor Stanley Druckenmiller's family office ditched its $35.9 million stake in Facebook parent Meta last quarter, suggesting the social media company's shift in focus to the metaverse may not have reflected an immediately bullish opportunity to him.
Druckenmiller's Duquesne Family Office revealed a new stake worth $67 million in Snap, a Securities and Exchange Commission filing from Monday showed.
The New York-based firm, which manages Druckenmiller's personal wealth, disclosed his .
George Soros, the founder of Soros Fund Management, trimmed his positions in Amazon and Alphabet last quarter.
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Billionaire investor Stanley Druckenmiller dumped Facebook parent Meta before its one-day $230 billion wipeout — and took stakes in Snap and Chevron
https://markets.businessinsider.com/news/stocks/stanley-druckenmiller-facebook-meta-snap-chevron-13f-duquesne-office-holdings-2022-2
Billionaire investor Stanley Druckenmiller dumped his holdings in Meta before the company's shocking 26% plunge in share price earlier this month. Meta lost more than $230 billion in value on February 3, the largest one-day loss in US corporate history, after posting a $10 billion operating loss from its metaverse business. It warned of further hefty losses this year due to the impact of Apple's privacy changes.
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--Stanley Druckenmiller's Duquesne Family Office sold its entire position in Facebook parent Meta last quarter.
--The New York-based firm unveiled new sizeable stakes in Snap and Chevron.
--Druckenmiller also dumped holdings in Penn National Gaming, Moderna, and Zoom Video.
His family office ditched its $35.9 million stake in Facebook parent Meta last quarter, suggesting the social media company's shift in focus to the metaverse may not have reflected an immediately bullish opportunity to him.
Druckenmiller's Duquesne Family Office revealed a new stake worth $67 million in Snap, a Securities and Exchange Commission filing from Monday showed.
The New York-based firm, which manages Druckenmiller's personal wealth, disclosed his biggest acquisition in the last quarter was a near-$100 million position in oil major Chevron.
The former hedge fund boss has been managing his own money through the family office since closing his fund, Duquesne Capital, in 2010. He has a net worth of $10.4 billion, according to the Bloomberg Billionaires Index.
Druckenmiller's firm also dumped stakes in casino operator Penn National Gaming, COVID-19 vaccine developer Moderna, and pandemic-era winner Zoom Video Communications.
Its largest position is a $51 million stake in Coupang, also known as the "Amazon of South Korea."
Recent securities filings from other billionaire investors suggest Big Tech has been fading from preferences even before January's brutal tech sell-off. Quarterly 13F filings, required by the SEC for portfolios holding at least $100 million in US equities, provide a look at positions held by Wall Street's largest stock pickers.
George Soros, the founder of Soros Fund Management, trimmed his positions in Amazon and Alphabet last quarter. His firm also slashed its position in the largest ETF that tracks the Nasdaq by 97% from the previous quarter to a stake now worth just $9.4 million.
In another example of well-timed investments, Warren Buffet's Berkshire Hathaway revealed a billion-dollar stake in Activision Blizzard last quarter, before Microsoft agreed to acquire the video-games company in January.
Read more: 'We've seen the lows' Fidelity's global macro director says. He lays out the 'key ingredient' the Fed uses to keep the stock market stable — and shares the 1 under-the-radar risk that could upset it
Read the original article on Business Insider
https://markets.businessinsider.com/news/stocks/stanley-druckenmiller-facebook-meta-snap-chevron-13f-duquesne-office-holdings-2022-2
LAR Over 31-23
White House record boxes recovered at Trump's Mar-a-Lago: report
https://thehill.com/homenews/administration/593065-boxes-improperly-removed-from-white-house-recovered-at-trumps-mar-a?rl=1
The National Archives and Records Administration (NARA) retrieved multiple White House record boxes last month that were improperly kept at former President Trump's Mar-a-Lago property, The Washington Post reported.
The boxes reportedly contained important records of communication, gifts and letters from world leaders, which, according to the Post, is a violation of the Presidential Records Act.
The newspaper added that the boxes retrieved from the Florida estate included correspondence with North Korean leader Kim Jong Un as well as a letter from former President Obama to Trump.
The Post noted that recent administrations have all had some Presidential Records Act violations, including the use of unofficial email and telephone accounts as well as the destruction of emails.
But a source told the newspaper that the transfer to Mar-a-Lago was "out of the ordinary ... NARA has never had that kind of volume transfer after the fact like this."
The Hill has reached out to the National Archives and Trump's office for comment.
The Presidential Records Act, which was put in place following the Watergate scandal, requires administrations to document and maintain records of the White House decisionmaking process.
The new development comes just a week after NARA handed over some Trump White House documents to the House select committee investigating the Jan. 6, 2021, insurrection that were reportedly torn up and taped back together.
The Hill's 12:30 Report: Congress nears yet another funding deadline
Trump 2020 campaign chief to advise Gibbons in Ohio Senate race
The National Archives said last week that the documents "included paper records that had been torn up by former President Trump."
The former president had sued to stop the committee from being given certain documents, with his attorney claiming it was illegal and that Trump wanted to preserve privileges over certain documents.
Peter Thiel to Leave Meta Board to Pursue Trump Agenda
https://finance.yahoo.com/news/peter-thiel-leave-meta-board-210751414.html
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Peter Thiel, the tech investor and conservative provocateur who has advised Mark Zuckerberg for nearly two decades at Facebook parent Meta Platforms Inc., will step down from the company’s board after Meta’s annual shareholder meeting in May.
Thiel, 54, who became a director in 2005 after an early investment in Facebook, plans to increase his political support of former President Donald Trump’s agenda during the 2022 election and doesn’t want his political activities to be a distraction for Facebook, according to a person close to Thiel.
His focus will be on backing Blake Masters, JD Vance and others who advance the Trump agenda, the person added, referring to Republican candidates for U.S. Senate.
“Peter is truly an original thinker who you can bring your hardest problems and get unique suggestions,” Zuckerberg said in a statement. “He has served on our board for almost two decades, and we’ve always known that at some point he would devote his time to other interests.”
Thiel helped elect Trump president in 2016 by donating money and speaking on his behalf at the Republican National Convention. When Trump became president, Thiel worked on his transition team while nominating colleagues to fill government positions, including former Thiel Capital Chief of Staff Michael Kratsios, who served as the chief technology officer of the White House until last year. Thiel has continued to support Trump while meeting with members of the Republican Party and members of the far-right in recent years.
Thiel’s departure will mark the end of one of the most productive -- and harshly criticized -- partnerships between a chief executive officer and an investor in all of business. Thiel has been a close adviser to Zuckerberg ever since the duo met through Napster co-founder Sean Parker, when Facebook was still just a social network for college campuses. Thiel was instrumental in shaping Zuckerberg’s ethos during the early days of Facebook and its relentless pursuit of growth.
That relationship continued even as Thiel became more and more controversial in the technology industry, and became a frequent target for Facebook critics and unhappy employees.
Thiel, who is also a co-founder and chairman of Palantir Technologies Inc., was known to advise Zuckerberg on political issues. He was among those reportedly encouraging the CEO not to fact-check political advertisements in the run-up to the 2020 presidential election, a move that many believe benefited Trump. He also joined a dinner with Zuckerberg and Trump at the White House in 2019.
Many Facebook employees were upset with Thiel’s role in backing Trump in 2016 given the former president’s stance on immigration, and allegations of sexism and racism against then-candidate Trump. But Zuckerberg defended Thiel and his role on Facebook’s board in an internal post to employees in October 2016. “We can’t create a culture that says it cares about diversity and then excludes almost half the country because they back a political candidate,” he wrote at the time.
Thiel was one of the first venture capitalists to see the potential in Zuckerberg’s vision. He became the first outside investor in Facebook when he loaned the then-Harvard undergrad $500,000 in 2004.
The bet validated Thiel’s instincts and acclaim as an investor but it had the potential to be far more lucrative. He sold most of his stake in 2012 through a prearranged stock-trading plan at an average price of less than $20 a share.
Those share sales generated more than $1.1 billion in proceeds for the billionaire, before taxes. Had he maintained his stake at its pre-IPO level however, his holding in Meta would now be worth ten times as much.
Masters, a former student of Thiel’s who co-wrote “Zero to One” with him, is running for Senate as a Republican from Arizona. Masters still oversees Thiel’s personal investment vehicle, Thiel Capital.
Vance, who previously invested on behalf of Thiel, is running for the Senate as a Republican from Ohio who is a “conservative outsider.” Vance is best known for his 2016 memoir “Hillbilly Elegy” and is campaigning on promises to abolish the Bureau of Alcohol, Tobacco, Firearms and Explosives and push back against gun laws.
Meta Faces Historic Stock Rout After Facebook Growth Stalled
Apple new private tech allowing user to stop tracking
https://www.bloomberg.com/news/articles/2022-02-02/facebook-shares-plunge-as-users-stall-forecast-falls-short?srnd=premium
Social networks are battling video platforms for users’ time
Quarterly loss from metaverse investment totals $3.3 billion
The catalyst was startling news that for the first time ever, Facebook’s user growth seems to have hit a ceiling and its momentum is stalling. Thursday’s collapse wiped out more than $230 billion of market value in an instant -- a figure unprecedented in stock-market history -- and has investors asking a question that once seemed unthinkable: Are the best days over for Facebook, one of the world’s most widely held technology stocks?
U.S. Crude-Oil Stockpiles Likely Increased in DOE Data, Analysts Say
https://www.marketwatch.com/story/u-s-crude-oil-stockpiles-likely-increased-in-doe-data-analysts-say-update-271643752006
U.S. crude-oil stockpiles are expected to increase from the previous week in data due Wednesday from the Energy Department, according to a survey of analysts and traders by The Wall Street Journal.
Estimates from 11 analysts and traders showed U.S. oil inventories are projected to have risen by 1.1 million barrels for the week ended Jan. 28. Eight of the analysts forecast an increase, while three predicted a decline. Forecasts range from a decrease of 2.2 million barrels to an increase of 2.9 million barrels.
The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.
Gasoline stockpiles are expected to rise by 1.7 million barrels from the previous week, according to analysts. Estimates range from a decrease of 200,000 barrels to an increase of 3.1 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to decrease by 1.6 million barrels from the previous week. Forecasts range from a decrease of 3.6 million barrels to an increase of 500,000 barrels.
Refinery use likely fell by 0.1 percentage point from the previous week, to 87.6% of capacity. Forecasts range from a decrease of 0.7 percentage point to an increase of 0.6 percentage point. Two analysts didn't make a forecast.
The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 1.6-million-barrel decrease in crude supplies, a 5.8-million-barrel rise in gasoline stocks and a 2.5-million-barrel decline in distillate inventories, according to a source.
KC U, SF U
Thanks
chicken fight lol
Netflix Stock Gets Pummeled, Closing At Lowest Level Since April 2020 After Disappointing Earnings & Wall Street Downgrades
https://finance.yahoo.com/news/netflix-stock-gets-pummeled-falling-171254217.html
The rout followed a fourth-quarter earnings report that disappointed many Wall Street analysts and investors and triggered a larger debate about the outlook for streaming in general. While the company missed its fourth-quarter target for subscribers by just 200,000 (8.3 million additions vs. the expected 8.5 million), its weak guidance for the current quarter set off alarms. During their quarterly earnings interview, top executives could not identify any one cause for the slowdown in subscriber growth, instead reiterating confidence in their overall trajectory. “For now, we are just staying calm,” co-CEO Reed Hastings said.
Why Coinbase and Other Crypto Stocks Took a Nosedive Today
https://www.fool.com/investing/2022/01/21/why-coinbase-and-other-crypto-stocks-took-a-nosedi/?source=eptyholnk0000202
The reason for the sell-off is Bitcoin itself. The top cryptocurrency took a more than 10% spill over the last 24 hours. For companies and funds like MicroStrategy that hold sizable Bitcoin positions on their balance sheet, the reason for their stock dropping is pretty straightforward: Lower Bitcoin value means the company is worth less.
Coinbase and Silvergate are a slightly different story, though. Coinbase doesn't own much Bitcoin directly, and Silvergate is merely a bank that operates a crypto exchange from which institutional investors can send U.S. dollars to clients 24/7 (a key function since crypto exchanges never close).
The worry for Coinbase is thus more about the volume of trading in Bitcoin and related cryptos, since the firm earns a fee every time someone places a trade. And for Silvergate, lower crypto prices could mean lower client funds on deposit for it to earn interest on. Nevertheless, a fall in Bitcoin doesn't automatically equate to lower revenue or income for either company.
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Round 2: TEN U, GB U, TB O, BUF U
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Peloton stock plummets after the company halts production of bikes, treadmills
https://finance.yahoo.com/video/peloton-stock-plummets-company-halts-182039527.html
Production of Peloton’s main stationary bikes will be paused for two months, CNBC reported, citing internal documents. And the company will stop making its treadmill machine for six weeks, starting in February, the news outlet said.
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Self-driving sensor maker Luminar shares rally on Mercedes-Benz tie-up
https://finance.yahoo.com/news/1-self-driving-sensor-maker-200521322.html
Luxury carmaker Mercedes-Benz will partner with self-driving sensor maker Luminar Technologies Inc to enable fully automated driving on highways for its next-generation vehicles, Luminar's founder said.
Luminar shares surged 24% at $16.75 on Thursday. Luminar said Mercedes-Benz will have 1.5 million shares in Luminar, which will vest over time when certain milestones are met.
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China's home-grown C919 aircraft expected to be delivered in 2022 - official
https://news.yahoo.com/chinas-home-grown-c919-aircraft-145926411.html
China's home-grown narrowbody C919 aircraft, which is yet to be certified by the country's aviation regulator, is expected to be delivered in 2022, local media cited an official with the state planemaker COMAC as saying on Wednesday.
Wu Yongliang, deputy general manager of COMAC, made the comments on the sidelines of an annual meeting of the political advisory body for Shanghai city, where COMAC is based, according to the government-backed media outlet The Paper.
The C919 aircraft, China's ambition to rival Aibus SE and Boeing Co, earlier missed a previously stated target of achieving certification by the end of 2021, with the Civil Aviation Administration of China (CAAC) saying the programme only completed 34 certification tests out of 276 planned.
When asked about the impact of the COVID-19 pandemic on the C919 programme, Wu said the impact was manageable and relevant work was being carried out in an orderly manner, according to The Paper.
Reuters in September reported COMAC has found it harder to meet certification and production targets for the C919 amid tough U.S. export rules, according to people with knowledge of the programme.
Leeham News analyst Scott Hamilton said in a note on Monday he expects the entry into service of the jet to be in 2023 or 2024. (Reporting by Stella Qiu, Ella Cao and Ryan Woo; Editing by Bernadette Baum)
Microsoft to Acquire Activision Blizzard for Nearly $70 Billion
AVTI jumps 30%
Round 1: CIN U, BUF O, TB O, SF U, KC O, ARI U
Week 18 - WAS to win, SEA to lose
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Happy New Year! Week 17 - NE to win, MIN to lose
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Week 16 - PHI to win, CLE to lose
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Week 15 - MIA to win, CAR to lose
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Nucor Stock Dives From Near Buy Point On Profit Warning
https://finance.yahoo.com/m/60782e68-04dd-37e2-8281-756e6bac0467/nucor-stock-dives-from-near.html
Steel mills earnings will be comparable to Q3, Nucor said, downshifting from an earlier view. Nucor stock fell after a breakout attempt Tuesday.
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Week 14 - LAC to win, LV to lose
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NIO and Its EV Peers Take Hit on Delisting Concerns. Even Tesla Is Impacted.
https://www.barrons.com/articles/nio-xpeng-china-delisting-concerns-tesla-51638553984?siteid=yhoof2
Shares of U.S.-listed Chinese electric-vehicle producers were getting hammered Friday, and it has nothing to do with fundamentals of the EV market.
Instead, it’s a stock listing issue. The fallout seems to spreading to even Tesla (ticker: TSLA).
Investors hate uncertainty. And uncertainty reigns regarding U.S. listings of Chinese stocks. Didi (ticker: DIDI) catalyzed the new round of uncertainty after the company said Friday it plans to de-list from the New York Stock Exchange. That’s just a few months on from the company’s initial public offering.
Didi stock was down about 16%. Shares of NIO (NIO), XPeng (XPEV) and Li Auto (LI) shares also were getting hammered, with shares down roughly 9%, 9% and 14%, respectively. Their drops seem to be roiling stock in EV leader Tesla too, which was down 5.5%.
Cars on sale / DiDi stock dips after announcing it will delist from the NYSE
China-based electric vehicle (EV) makers NIO Inc. NIO, Li Auto LI and XPeng Inc. XPEV recently released their delivery numbers for the month of November. All the three firms recorded a triple-digit percentage increase in their delivery count on a year-over-year basis despite the global chip crisis.
https://finance.yahoo.com/news/does-nio-li-xpevs-november-132001339.html
Despite delivering robust delivery numbers, each of the companies closed in the red in yesterday’s trading session. Shares of NIO, LI and XPEV fell 5.5%, 3.4% and 5.6%, respectively, on rising COVID-19 concerns. Investors are understandably rattled by the new strain of the coronavirus, Omicron, which aroused fresh concerns about potential business disruptions in China. While NIO and XPeng currently carry a Zacks Rank #3 (Hold), Li Auto is Ranked #4 (Sell).
Chinese stocks keep dropping
Chinese Internet. . .BABA JD PDD VIPS BIDU TME NTES TCOM BILI YY BEKE DADA DIDI
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Week 13 - IND to win, DEN to lose
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Dow tumbles 900 points for worst day of year on fears of new Covid variant, S&P 500 drops 2%
https://www.cnbc.com/2021/11/26/stock-futures-open-to-close-market-news.html
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