Author: News Room

Shares of Trump Media closed down 6.6% on Tuesday, ending the day at $16.14 a share. The dip came just 48 hours before “lockup” restrictions that have so far barred the company’s majority shareholder, Donald Trump, and other insiders from selling their stakes, are set to expire.Until this week, the former president and early investors who received stock in the company when it merged with a special purpose acquisition company in March and began publicly trading have been prohibited from selling their shares under a “lockup agreement.”Those restrictions expire Thursday.Last week, Trump said he would not sell his 114,750,000 shares…

Billionaire investor Steve Cohen is retiring from the trading floor at his hedge fund Point72.The prominent hedge fund investor, who also owns the New York Mets, will continue his role as the co-chief investment officer at Point72, which Cohen converted from S.A.C. Capital Advisors in 2014 after lofty insider-trading settlements.”He is taking a break from trading his own book and he feels he can have a greater impact by focusing on running the firm, driving strategic initiatives, and mentoring and coaching the next generation of talent,” a spokesperson at Point72 said.Point72, which uses long/short, macro and systematic strategies, manages more…

It’s an issue for some adult children with aging parents. When the elders need care, there is resistance to using the parent’s own funds to cover the cost of caregiving. It’s puzzling. For example, faithful son (FS) has been taking care of his mom by himself for 25 years. He lives in her home and pays all the bills. He works full time at a physically demanding job. No siblings help in any way. All are estranged. Mom, now 90 years old, fell, had to be hospitalized and then went to rehab. Prior to that, she was fine at home…

Vice President Kamala Harris and President Joe Biden worked to shore up support among key constituencies during separate events Monday, an example of their strategic attempt to divide and conquer the campaign trail with the race to November heating up. In battleground Pennsylvania, a must-win state for Harris, Biden spoke to a Philadelphia conference attended by leaders of historically Black colleges and universities. For the fourth time in a week, Biden’s official remarks began with a nod to his onetime running mate, who’s now at the top of the ticket. “I want to get to something straight at the outset,” Biden told the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Intel unveiled cost-cutting and restructuring measures, including a two-year pause on planned chip plants in Germany and Poland, as chief executive Pat Gelsinger seeks to turn around the chipmaker’s flagging fortunes.The announcement follows a crunch board meeting last week for the US chipmaker, whose shares have fallen sharply since August when it reported disappointing earnings results and an initial round of cuts, as well as a pause to its dividend.As well as making further moves to establish its chip manufacturing business as…

Usually when I’m looking for value stocks, I like to find companies that are in the lower half of their 52-week range. Sometimes, however, the numbers don’t support this strategy, especially with the broader market going so strong. It is inevitable that companies will surge toward the peak of their 52-week range, and keep going if their earnings are strong enough. Today I’m going to be looking at YPF Sociedad Anonima (NYSE:YPF), a company that very much is at the top of its 52-week range but is still showing up on a lot of value screener searches. We’ll be looking…

Intel’s struggling chip-making business got a boost Monday from a high-profile client: Amazon. The announcement came after Intel said earlier in the day it would receive up to $3 billion in funding under the CHIPS and Science Act to manufacture chips for the military. Intel Foundry and Amazon Web Services will coinvest in a custom chip design for the latter and “announced a multi-year, multi-billion-dollar framework,” according to a release. “Specifically, Intel Foundry will produce an AI fabric chip for AWS on Intel 18A,” Intel CEO Pat Gelsinger said in the statement Monday. Intel, once the world’s most dominant chipmaker,…

Intel shares jumped 8% in extended trading Monday after the company said it plans to turn its foundry business into an independent unit with its own board and the potential to raise outside capital.As part of CEO Pat Gelsinger’s effort to turn around the struggling chipmaker, Intel said in a memo to employees that it will also sell off part of its stake in Altera.Gelsinger said the restructuring would allow the foundry business to “evaluate independent sources of funding,” and comes days after Intel’s board met to assess the direction and future of the company. The foundry business, which Intel…

Ohio state police will conduct daily sweeps of schools in Springfield after authorities have been forced to investigate “at least 33″ bomb threats that led to evacuations and temporary building closures, Ohio Gov. Mike DeWine said Monday.”We want to make sure, as school continues this week in Springfield, that parents have confidence that the school is in fact safe,” the Republican governor said at a press conference.Each bomb threat has been a hoax without “any validity at all,” DeWine said.Springfield has become the face of the national immigration debate after Republican presidential nominee Donald Trump and his running mate, Ohio…

CTA and Estate Plans and Trusts The Corporate Transparency Act (“CTA”) is a mandate that requires most smaller closely held business entities to file a rather invasive report with the Financial Crimes Enforcement Network of the Treasury Department. The CTA has been written about extensively, but it seems that most business entities, and their owners and those controlling them have not addressed compliance yet. When it comes to estate planning, and particularly entities owned by trusts, determining who has to file as a beneficial owner is particularly complicated. That is a real issue because the penalties are about $600/day and…