Hedge funds face a crisis of confidence

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Hedge funds are dancing with the devil.

They are facing a crisis of confidence and potential lawsuits amid unprecedented fund closures, job losses and — most critically — low investment returns.

It’s finally time to bail, one money man in Short Hills, NJ, warned last week of these leveraged alternative investments for superwealthy and not-so-wealthy middle-class investors.

“Get out,” echoed financial adviser Stephen Ng, as more unwelcome news hit hedgies. “I have been talking about this — and now I think more and more investors are beginning to realize it.”

With just over $3 trillion in assets under management globally, hedge fund magnates are anxiously awaiting a recovery from last year’s feeble industry returns of 5.5 percent, compared with 10 percent for the S&P 500-stock index.

Investors already withdrew $111.6 billion from hedge funds last year, according to eVestment, as some 1,100 funds — the largest total since the 2008 financial crisis — closed, and thousands of pros were axed.

Source: NewYorkPost

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June 12, 2017 at 06:43PM

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from The Compliance Exchange

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Credit Suisse to cut jobs as it pares back in London

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Credit Suisse (CSGN.S) is to cut roughly 1,500 jobs in London by the end of next year, according to a person familiar with the matter, part of the Swiss bank’s efforts to cut costs globally.

The cutbacks come as the bank’s Zurich neighbour UBS (UBSG.S), the world’s largest private bank, also considers moving hundreds of staff out of London as Britain prepares to embark on divorce talks with the European Union.

UBS and Credit Suisse joined big U.S. investment banks in setting up their European headquarters in London, giving them access to the European Union market. But now Brexit is forcing the Swiss and others to seek alternatives.

For Credit Suisse (CSGN.S), the job cuts, which will take its London staff to roughly 5,000, is part of a paring down of its London operations that began in 2015 as the bank restructured under Chief Executive Tidjane Thiam.

One Credit Suisse executive said privately that high bonuses and the cost of doing business in the British capital made it difficult for Credit Suisse to turn a profit on its London operation. Brexit, he said, reinforced the determination to act.

A Credit Suisse spokeswoman said the investment bank as a whole had “strong profit growth” and that the programme of company-wide job cuts was most advanced in London. The bank does not provide a breakdown for the performance of its London operations.

The scale of the London cuts reflects a change in approach towards Europe’s biggest financial centre.

Before it embarked on its cutbacks, Credit Suisse employed more than 9,000 staff and contractors in the city.

“For the Swiss banks, it was always important to be in London, not least to be close to your wealthy customers,” Andreas Venditti, an analyst at Swiss bank Vontobel, said. “With Brexit, London has certainly lost some significance.”\

Source: Reuters

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June 12, 2017 at 06:43PM

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from The Compliance Exchange

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ICYMI – Billionaires Ignore Their Own Carbon Emissions While Decrying Withdrawal From Paris Accord

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by DUANE NORMAN, Free Market Shooter Elon Musk’s Private Jet After President Trump pulled the United States out of the Paris Accord on “Climate Change”, billionaires Michael Bloomberg and Elon Musk were quick to decry the…

June 11, 2017 at 06:48PM

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from IWB

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DRIVE THEM OUT! Czech Republic Joins Poland, Hungary and Slovakia in Refusing EU-Imposed Migrants

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The Czech Republic has joined its Central European neighbors in officially announcing a withdrawal from the European Union’s 2015 migrant resettlement program. After much criticism of the scheme, which seeks to resettle an initial…

June 11, 2017 at 06:48PM

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from IWB

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James Comey testifies under oath that the President can legally stop any investigation he wants and its not obstruction!

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Comey puts his foot in his own mouth. Last 60 seconds of the video. Listen to his words carefully people he openly admitted Trump can end any investigation he wants. This is crucial!  …

June 11, 2017 at 06:48PM

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from IWB

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Thioridazine mellaril australia – Mellaril for patients with chf – Mellaril relation to lupus

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Diurese with mellaril and lasix by one the for such separated the an next know Well France) pills.The himself itself in australia you how sie After proud in Brand any mialo his to from Silicon this an without to to to reputed Ale opposed matter. intended …

The post Thioridazine mellaril australia – Mellaril for patients with chf – Mellaril relation to lupus appeared first on ForexTV.

June 11, 2017 at 04:54PM

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from CHF Editor

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Dallas rainbomb caught on camera

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Austin had one as well Man captures rare microburst wind formation over Austin during June 5th storms http://ift.tt/2sqUfll   h/t The Amazing Panda

June 11, 2017 at 06:48PM

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from IWB

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Wall Street nervously watching Comey hearing

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Former FBI director James Comey’s hearing in Congress could deliver political shockwaves that reach Wall Street.

June 08, 2017 at 06:50PM

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U.K. growth was weakest in Europe in first quarter

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Britain’s 0.2% expansion in the first quarter was the weakest across all 28 EU member states.

June 08, 2017 at 06:50PM

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This Initiative Aims To Give Aspiring Female Filmmakers The Chance To Work

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Even though the lauded and lucrative “Wonder Woman” just gave us our first female-directed superhero movie, the damning statistics about Hollywood’s gender gap behind the camera are hardly improving. Women made a mere 7 percent of 2016’s highest-grossing movies. 

In an effort to help bridge that gap, Glamour magazine has partnered with Girlgaze, a multimedia initiative supporting young female artists, for the #NewView competition. HuffPost is premiering a short montage, directed by Gia Coppola, that outlines the project, which will give winners the chance to helm a short film for one of several brands. 

Submissions for #NewView are open until June 30. The competition’s jury includes Coppola, Geena Davis, Rashida Jones, “Fifty Shades of Grey” director Sam Taylor-Johnson, Shonda Rhimes, Tracee Ellis Ross, Zendaya, “Transparent” creator Jill Soloway, Chloë Grace Moretz, “Pariah” director Dee Rees and Netflix executive Bela Bajaria.

— This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

June 08, 2017 at 06:48PM

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from Matthew Jacobs

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Bail-Ins, Social Norms and Cows

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Also structuring, moonshots, the Financial Choice Act, blockchains and Uber.

June 08, 2017 at 06:49PM

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from Matt Levine

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Wall Street opens little changed; Comey testimony eyed

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REUTERS – U.S. stocks opened little changed on Thursday after the European Central Bank left rates unchanged but adopted a more hawkish tone, while investors awaited a testimony by former FBI Director James Comey.

June 08, 2017 at 06:47PM

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Fighting tax evasion together: India becomes signatory to BEPS

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India has become a signatory to the base erosion profit shifting or BEPS project. This makes the country a part of the Organisation for Economic Co-operation and Development#39;s (OECD) multilateral convention that aims to crack down on tax evasion.

June 08, 2017 at 06:46PM

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Automakers race to get ahead of Silicon Valley on car-sharing

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Automakers are building their own “mobility services” to compete with Silicon Valley.

June 08, 2017 at 06:41PM

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Ambarella’s (AMBA) Q1 Earnings & Revenues Beat Estimates

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Ambarella Inc. AMBA started fiscal 2018 on a strong note, reporting better-than-expected results for first-quarter fiscal 2018. Also, revenues and earnings marked a significant year–over-year improvement.

The company reported earnings of 7 cents per share, which came ahead of the Zacks Consensus Estimate of 3 cents and also registered a year-over-year jump of 40%. The year-over-year improvement was mainly driven by solid top-line growth which was partially offset by higher costs and expenses, as well as increase in number of outstanding shares.

Quarter in Detail

The fiscal first-quarter revenues increased 12.2% year over year to $64.1 million and came ahead of the Zacks Consensus Estimate of $63 million. Excluding sales to GoPro Inc. GPRO and OEMs, revenues increased 16.1%.

The solid year-over-year growth was primarily driven by strong performances at IP security, auto and non-GoPro wearable markets. The benefits at these markets were partially offset by decline in drone revenues.

Gross margin contracted 30 basis points (bps) to 63.9% in the reported quarter. On non-GAAP basis (excluding stock-based compensation), the company reported gross margin of 64.3%, which came 30 bps lower than the year-ago quarter. The contraction in gross margin was mainly due to increase in revenues from sales of lower margin China security and U.S. home monitoring products, as well as a decline in higher margin sports camera market revenues.

Operating expenses increased 8.4% year over year to $38.3 million. On non-GAAP basis, operating expenses came in at $25.7 million, up from $24.3 million incurred in first-quarter fiscal 2017. The year-over-year increase in non-GAAP operating expenses was mainly due to increase in headcount and chip development costs.

Operating income almost doubled to $2.6 million from $1.3 million reported in the year-ago quarter. Operating margin expanded 170 bps to 4.1% in the reported quarter.

Ambarella, Inc. Price, Consensus and EPS Surprise

 

Ambarella, Inc. Price, Consensus and EPS Surprise | Ambarella, Inc. Quote

Balance Sheet

Ambarella ended the fiscal first quarter with cash and cash equivalents & marketable securities of $420.2 million, up from $405.4 million in the previous quarter.

During the reported quarter, the company bought back 162,738 shares under its ongoing $75 million share repurchase program which started in Jun 2016, for a total consideration of $8.77 million. As of Apr 30, 2017, the company has approximately $46 million available under the current share repurchase authorization.

Guidance

For second-quarter fiscal 2018, revenues are expected to be between $69 million and $72 million, up 6–10.6% from the prior-year quarter. The company anticipates strong year-over-year revenue growth in IP security (both professional and consumer), as well as solid growth in automotive and non-sports wearable, partially offset by a decline in the drone revenues. However, the company’s guided range fell short of the Zacks Consensus Estimate of $72.6 million.

Non-GoPro revenues in the fiscal second quarter are expected to grow between 11.8% and 17%.

Non-GAAP gross margin is expected to be between 62.0% and 63.5% as compared with 67.1% in the year-ago quarter. The contraction will be due to increase in China security revenues and decline in drone revenues.

Operating expenses are expected to be between $26.0 million and $27.5 million, up sequentially due to higher head count expenses and increase in new chip development costs.

Management reiterated its forecasts for fiscal 2018. The company still expects revenues to be in the range of up 3% to down 3% as compared with fiscal year 2017. Strong growth in IP security, drones, non-sports wearable, and automotive market revenues will drive revenues. Excluding sales to GoPro and its ODMs, fiscal year 2018 revenues are estimated to grow between 20% and 32%.

Gross margins are expected to move into the high end of Ambarella’s target margin range of 59–62%, while operating expense is expected to increase 12–14% over fiscal year 2017.

Bottom Line

Despite reporting better-than-expected fiscal first-quarter results, shares of Ambarella declined approximately 6% in yesterdays’ after-hour trade, as its revenue forecast for the fiscal second quarter fell short of analyst’s expectations.

Notably, Ambarella has underperformed the Zacks Electronics-Semiconductors industry in the year-to-date period. The stock returned 10.4%, while the industry gained 28.8% in the said period.

Currently, Ambarella carries a Zacks Rank #3 (Hold).

A couple of better-ranked stocks in the Electronics-Semiconductors space are Applied Optoelectronics, Inc. AAOI and Broadcom Limited AVGO. While Applied Optoelectronics sports a Zacks Rank #1 (Strong Buy), Broadcom carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term expected EPS growth rate for Applied Optoelectronics and Broadcom is 20% and 13.6%, respectively.

3 Stocks to Ride a 588% Revenue Explosion

At Zacks, we’re mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold.

By last year, it was already generating $8 billion in global revenues. By 2020, it’s predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce “”the world’s first trillionaires,”” but that should still leave plenty of money for those who make the right trades early. See Zacks’ Top 3 Stocks to Ride This Space >>

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Broadcom Limited (AVGO): Free Stock Analysis Report
 
Ambarella, Inc. (AMBA): Free Stock Analysis Report
 
Applied Optoelectronics, Inc. (AAOI): Free Stock Analysis Report
 
GoPro, Inc. (GPRO): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

June 07, 2017 at 06:49PM

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from Zacks Equity Research

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AvalonBay’s Rental Revenue Growth Decelerates, Shares Dip

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Residential REIT, AvalonBay Communities, Inc. AVB revealed that its year-over-year total rental revenue change for established communities came in at 2.5% for the month of May. This underlines a slowdown from 2.6% growth registered in April and 3.2% increase in first-quarter 2017. Reflecting negative sentiments, shares of AvalonBay descended over 2.7% during normal trading hours on Jun 6.

Further, the company noted that it expects total rental revenue of established communities for second-quarter 2017 to grow 2.5–2.6% over the prior-year period.

Notably, established communities refer to those communities that have stabilized operations as of Jan 1, 2016, and are neither executing nor planning any significant redevelopment work during the current year.

Admittedly, completion of a number of projects in its markets leading to higher supply is a concern for AvalonBay, as elevated supply usually leads to lesser absorption, curtails landlord’s capability to demand more rents and leads to a rise in concession activity. As such, growth in the company’s stabilized portfolio is likely to be moderated in the near term. Nevertheless, the company has a solid portfolio of high quality assets in premium locations. In addition, its balance sheet remains healthy.

AvalonBay currently has a Zacks Rank #3 (Hold).

Over the past three months, AvalonBay’s shares outperformed the Zacks categorized REIT and Equity Trust – Residential industry. The company’s shares logged in a return of 6.7% against 4.2% growth recorded by the industry.

Stocks to Consider

Better-ranked stocks in the REIT space include Equity LifeStyle Properties, Inc. ELS, Prologis, Inc. PLD and PS Business Parks, Inc. PSB. All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Equity LifeStyle Properties currently has a long-term growth rate of 4.7%.

Prologis’ estimates for 2017 funds from operations (“FFO”) per share moved north nearly 3.8% to $2.76, over the past 60 days.

PS Business Parks’ estimates for 2017 FFO per share inched up 1.8% to $6.09, over the past 30 days.

Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.

3 Stocks to Ride a 588% Revenue Explosion

At Zacks, we’re mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold…

By last year, it was already generating $8 billion in global revenues. By 2020, it’s predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce “the world’s first trillionaires,” but that should still leave plenty of money for those who make the right trades early. See Zacks’ Top 3 Stocks to Ride This Space >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report
 
Equity Lifestyle Properties, Inc. (ELS): Free Stock Analysis Report
 
ProLogis, Inc. (PLD): Free Stock Analysis Report
 
PS Business Parks, Inc. (PSB): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

June 07, 2017 at 06:49PM

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from Zacks Equity Research

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Implied Volatility Surging for TEGNA (TGNA) Stock Options

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Investors in TEGNA Inc. TGNA need to pay close attention to the stock based on moves in the options market lately. That is because the June 16^th, 2017 $21 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?

Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?

Clearly, options traders are pricing in a big move for TEGNA shares, but what is the fundamental picture for the company? Currently, TEGNA is a Zacks Rank #5 (Strong Sell) in the Broadcast Radio and Television industry that ranks in the Bottom 18% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while two analysts have revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 48 cents per share to 35 cents in that period.

Given the way analysts feel about TEGNA right now, this huge implied volatility could mean there’s a trade developing. Often times, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

Looking to Trade Options?

Each week, our very own Dave Bartosiak gives his top options trades. Check out his recent live analysis and options trade for the TSLA earnings report completely free. See it here: Tesla Earnings Preview with Options Trade Ideas or check out the embedded video below for more details:

 

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To read this article on Zacks.com click here.

June 07, 2017 at 06:49PM

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from Zacks Equity Research

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Startup Spotlight: Meet Outcome Health, the $5 Billion Healthcare Tech Unicorn

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It has become well known that health care dominates not only U.S. news, but the country’s spending dollars as well. Therefore it makes sense that a startup in the all-important, and seemingly all-consuming sector, could be poised to become the next big “unicorn” company.

Chicago-based Outcome Health is ready to capitalize on the massive health care market, while also trying to help patients and physicians. The company now joins the ranks of an exclusive club of private firms, including Airbnb, WeWork and Uber, which are valued at over $1 billion.

Outcome Health is not only the newest unicorn company, having earned the honor just last week, but it is also already valued in the top 30 on the list of roughly 200 non-public companies worth $1 billion.

Now let’s take a look at this health care sector fledgling with the potential to soar.

Company History

CEO Rishi Shah and President Shradha Agarwal founded ContextMedia in 2006 while the two were at Northwestern University. The company began to sell its video monitor services to physicians and hospitals without any outside investment.

Over the next decade, the company grew and big-time investors noticed, but Shah and Agarwal passed up offers in order to scale organically and retain ownership. In January, the company changed its name to Outcome Health as it slowly pushed towards its first major round of funding.

According to Crain’s, the company took in more than $130 million in revenue last year and posted an operating profit margin of roughly 40%. Outcome Health doubled its revenue in each of the last two years, and it also grew with its acquisition of AccentHealth last November.

About Outcome

Today, Outcome Health helps both patients and doctors by providing touch screen monitors to hospitals and health care offices around the country. The company installs large, interactive video boards that allow physicians to better explain a patient’s current health care needs or problems through the use of video, graphics and interactive visual aids.

Outcome Health also utilizes specialized software to assist physicians and patients for everything from treatment decisions to medical warning signs.

Outcome tries to maximize how both doctors and patients spend their time, which helps unclog those stereotypically crowded waiting rooms. According to one of the company’s online testimonials, Dr. Neil Baum, a New Orleans-based urologist, cut the time it takes him to explain a common urological procedure from 12 minutes to less than five minutes through the use of Outcome Health’s Digital Anatomy Board.

Outcome Health often provides its services to medical providers for free. The company makes most of its money from insurance providers, drug makers, health care marketers and pharmaceutical companies.

Investors

Outcome Health announced on May 31 that it received $500 million in its first-ever round of funding, valuing the company at a staggering $5 billion. Groupon (GRPN) was the last company to raise that much money in a single round of investing, and that was in the company’s fifth round back in 2011.

The health care company now boasts a few major players in the investing world, including Goldman Sachs GS, Pritzker Group Venture Capital and Alphabet Inc’s GOOGL equity investment fund CapitalG. On top of those big-time names, a few strategic health and health care companies also got in on the action.

“Outcome Health and its investors share a commitment to activate the best health outcome possible for every person in the world,” Shah said in a statement. “We believe achieving this at scale will require building a ubiquitous network that brings together all sides of healthcare to support patients and healthcare providers whenever, wherever and however they make critical healthcare decisions.”

Future

Outcome Health’s technology is currently used by nearly 230,000 health care professionals, which amounted to a total of 585 million patient visits last year. The company expects that its first-ever investments will help it reach 70% of all U.S. physician practices by 2020, up from 20% today.

The company currently employs 500 people, and the $5 billion valuation certainly won’t hurt Outcome Health’s ability to attract top talent. Outcome hopes to expand its business into areas such as clinical trials, pharmacies, international markets and more.

Outcome Health doesn’t seem to be ready to rush into an IPO just yet, but according to the Chicago Tribune, a company spokesman said it is considering an IPO in the coming years.

Will You Make a Fortune on the Shift to Electric Cars?

Here’s another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It’s not the one you think.

See This Ticker Free >>

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Alphabet Inc. (GOOGL): Free Stock Analysis Report
 
Goldman Sachs Group, Inc. (The) (GS): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

June 07, 2017 at 06:49PM

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from Benjamin Rains

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Why Eagle Bulk (EGLE) Could Be Positioned for a Surge

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Eagle Bulk Shipping Inc. EGLE is a U.S. based owner of Handymax dry bulk vessels that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on EGLE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Eagle Bulk could be a solid choice for investors.

Current Quarter Estimates for EGLE

In the past 30 days, two estimates have gone higher for Eagle Bulk while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 20 cents a share 30 days ago, to a loss of 13 cents today, a move of 35%.

Current Year Estimates for EGLE

Meanwhile, Eagle Bulk’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 79 cents per share 30 days ago to a loss of 58 cents per share today, an increase of 26.6%.

Eagle Bulk Shipping Inc. Price and Consensus

Eagle Bulk Shipping Inc. Price and Consensus | Eagle Bulk Shipping Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 6.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

3 Stocks to Ride a 588% Revenue Explosion

At Zacks, we’re mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold…

By last year, it was already generating $8 billion in global revenues. By 2020, it’s predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce “the world’s first trillionaires,” but that should still leave plenty of money for those who make the right trades early.See Zacks’ Top 3 Stocks to Ride This Space >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Eagle Bulk Shipping Inc. (EGLE): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

June 07, 2017 at 06:49PM

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from Zacks Equity Research

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