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Anadarko’s $100 Million CEO Ensnared in Oilfield-Fraud Lawsuit

(Bloomberg) — The meeting would mark the beginning of the end of Lea Frye’s career in oil and gas.It was February 2014. Frye, at the time a senior engineer with Anadarko Petroleum Corp., had the job of calculating how much oil was waiting to be extracted from fields Anadarko owned. She was known to be forthright about her analyses. “She tells the truth no matter the circumstances,” her manager said in a later performance review.Going into the conference with senior executives, Frye had arrived at her own conclusion about Anandarko’s most ballyhooed find — one that now has stockholders suing …read more […]

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Where This Franken-Market Is Headed Next

It will get harder from here.
Those are the words of Fed Chief Jay Powell last week as he prepared for what will be one of his biggest meetings yet.
Next week, like a team of docs working on Frankenstein’s monster, the Federal Reserve will gather in Washington to discuss where to cut next. The voting members will close the door, sit around a long oval table and then nervously look at each other as they realize they have quite a sick patient lying in front of them.
They’ve got to piece it together. It must not die.
Big money is on the line.
If …read more […]

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Stocks Climb, U.S. Futures Rebound After Selloff: Markets Wrap

(Bloomberg) — European stocks rose with U.S. equity futures as optimism crept into markets that Tuesday’s tumble drew a line under the recent selloff.Shares climbed broadly in Europe while AstraZeneca Plc slipped on news it paused trials of a leading experimental Covid-19 vaccine when a participant got sick. S&P 500 and Nasdaq 100 contracts advanced in the wake of large declines in America that were led by tech shares. On Wednesday, computer chip and hardware makers rose in the premarket including Advanced Micro Devices Inc. and Apple Inc.Treasuries and the dollar erased their increases as equity futures strengthened. The pound …read more […]

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AstraZeneca Vaccine Tests Face Delay After Patient Gets Ill

(Bloomberg) — AstraZeneca Plc stopped giving shots of its experimental coronavirus vaccine after a person participating in one of the company’s studies got sick, a potential adverse reaction that could delay or derail efforts to speed an immunization against Covid-19.The pause stemmed from a standard review of the company’s vaccine trials after one person developed an unexplained illness, AstraZeneca said in a statement. The move was intended to give researchers time to examine safety data while maintaining the integrity of the trials, the company said. The drugmaker’s shares fell as much as 3% in London Wednesday morning.The vaccine, which AstraZeneca …read more […]

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SoftBank Is Said to Get $12 Billion in Wireless Stock Orders

(Bloomberg) — SoftBank Group Corp.’s bankers have received orders for all 1.3 trillion yen ($12 billion) of the domestic wireless unit’s stock they are selling and will probably place an over-allotment, according to people familiar with the matter.SoftBank Corp. order books for domestic and overseas investors were fully covered Tuesday with Nomura Holdings Inc. and Daiwa Securities Group Inc. leading the distributions, said the people, asking not to be identified because the matter is private. Local and international investors were drawn by the dividend yield at the latest price, which is lower than the initial public offering price of 1,500 …read more […]

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Hedge Funds Never Been Less Bullish On Delta Air Lines, Inc. (DAL)

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […] …read more […]

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Hedge Funds Have Never Been This Bullish On Exelixis, Inc. (EXEL)

We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […] …read more […]