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Infosys U.S. listed shares plunge after whistleblower complaints

U.S.-listed shares of Infosys Ltd fell nearly 16% in premarket trading on Monday after the Indian software services exporter said it had received whistleblower complaints alleging “unethical practices” by the company’s executives. The company issued a statement after The Economic Times reported https://economictimes.indiatimes.com/tech/ites/whistleblower-complaint-placed-before-audit-committee-infosys/articleshow/71686001.cms that an anonymous group sent letters to Infosys’ board and the U.S. Securities and Exchange Commission alleging that the company was taking “unethical” steps to boost short-term revenue and profit. The group alleged that Chief Executive Officer Salil Parekh was bypassing reviews and approvals for large deals, the ET report said. …read more […]

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Hedge Funds Are Betting On Euronav NV (EURN)

Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors’ consensus returns have been exceptional. In the following paragraphs, we find out […] …read more […]

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Hedge Funds Aren’t Crazy About Myriad Genetics, Inc. (MYGN) Anymore

World-class money managers like Ken Griffin and Barry Rosenstein only invest their wealthy clients’ money after undertaking a rigorous examination of any potential stock. They are particularly successful in this regard when it comes to small-cap stocks, which their peerless research gives them a big information advantage on when it comes to judging their worth. […] …read more […]

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Do Hedge Funds Love Bunge Limited (BG)?

A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period […] …read more […]

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US STOCKS-Wall St eyes higher open on trade optimism; Boeing weighs

Wall Street looked set to start the week on an upbeat note on Monday on fresh signs of progress in a long-awaited resolution to the U.S.-China trade war, but a fall in Boeing’s shares capped early gains. White House adviser Larry Kudlow said in an interview to Fox Business that tariffs scheduled for December could be withdrawn if trade negotiations continue to go well. U.S. chipmakers with a large exposure to China rose in premarket trading, with Advanced Micro Devices Inc, Nvidia Corp and Micron Technology Inc gaining between 1% and 2%. …read more […]

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Private equity groups vie for UK testing firm LGC -sources

Private equity groups including Cinven and Blackstone are vying to buy KKR-owned LGC Group in a deal that could value the British scientific measurement and testing company at as much as 2.5 billion pounds, people close to the matter said. Cinven, which is working with Abu Dhabi Investment Authority (ADIA), made it to the second round of bidding alongside rival offers from Blackstone and Advent, they said. U.S. private equity firm Leonard Green is also in the running for the company, which is expected to fetch 2-2.5 billion pounds including debt, one of the people said. …read more […]

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Beyond Meat’s Sausage Sandwich to Land in 9,000 U.S. Dunkin’ Stores

(Bloomberg) — Beyond Meat Inc., the faux-meat maker that’s become a Wall Street darling, is announcing one of its biggest restaurant roll outs yet.A sandwich featuring the company’s plant-based sausage will arrive in more than 9,000 U.S. Dunkin’ restaurants beginning on Nov. 6, the companies said Monday. The nationwide launch follows a successful trial run in Manhattan’s 163 locations over the past three months.The plan was always to go national with the menu item, but the U.S. expansion wasn’t originally planned until January 2020. Dunkin’ Brands Group Inc. said it accelerated the wider launch after New York sales were more …read more […]

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McDermott International in financing deal of up to $1.7 bln

U.S. oilfield services company McDermott International Inc on Monday agreed with some of its lenders for additional funding of up to $1.7 billion, sending its shares up 25% in trading before the bell. Under the terms, the company said it would have immediate access to $650 million in financing, comprising $550 million under a term loan facility and $100 million under a letter of credit facility. “The agreement provides near-term liquidity for the company to manage working capital and provide performance guarantees on expected new awards,” Chief Executive Officer David Dickson said. …read more […]