Tag: stock market

George Soros’s hedge fund Soros Fund Management bought stakes in Google’s holding company Alphabet Inc. and Netflix Inc. in the third quarter, according to a regulatory filing on Monday. The hedge fund also reported ownership of Biogen Inc. , Hewlett Packard Enterprise Co. and Priceline Group at the end of September. During the same period, Soros liquidated its shares of Walt Disney Co. , General Motors Co. , Hershey Co. , Anthem Inc. , Delta Airlines , Monsanto Co. and Pandora Media Inc. .

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David Tepper’s hedge fund Appaloosa L.P. bought a new stakes in Apple Inc. and Yahoo Inc. , and reinvested in Bank of America Corp. and Facebook Inc. , while selling off its entire stake in 21st Century Fox Inc. during the third quarter, according to a 13-F filing with the Securities and Exchange Commission. The fund owened 800,000 shares of Apple and 1.8 million shares of Yahoo as of Sept. 30, the filing said. Appaloosa had sold off its stakes in BofA and Facebook during the second quarter, but then ended the third quarter with about 4.1 million shares of Bofa and 1.5 million shares of Facebook. The company had owned a total of about 4.4 million shares of 21st Century Fox at the end of the second quarter–3.3 million Class A shares and 1.1 million Class B shares–but didn’t own any as of Sept. 30. Separately, Appaloosa slashed its stake in Southwest Airlines Co. by 83% to less than 600,000 shares during Q3 from 3.5 million shares at the end of Q2. In all, the value of equities owned by Appaloosa increased 16% to $4.4 billion as of Sept. 30 from $3.8 billion on June 30. During that time, the S&P 500 gained 3.3%.

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The Estee Lauder Cos. said late Monday it has agreed to buy makeup brand Too Faced for about $1.45 billion. The deal is expected to close in December, and is expected “to strengthen the company’s leadership position in the fast-growing prestige makeup category globally, increase the Company’s consumer reach in the specialty-multi channel, and win with millennials — all in strong alignment with the Company’s strategy,” Estee Lauder said. Shares of Estee Lauder were flat in late trading after ending the regular trading day down 1%.

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Billionaire investor David Einhorn’s Greenlight Capital picked up shares of AerCap Holdings , Calpine Corp. , and United States Steel Corp. in the third quarter, while trimming its stake in Apple Inc. , 21st Century Fox and others, according to a regulatory filing on Monday. As of Sept. 30, Greenlight had sold more than 1.66 million shares of Apple, or around 24% of its holding in the iPhone maker. Apple remained the fund’s largest holding at more than 5 million shares, according to Whalewisdom.com, a site that tracks hedge-fund filings. In other moves, Einhorn added nearly 5.6 million shares of Calpine, bringing his stake to more than 11 million shares. He also added 1.37 million shares of AerCap and more than 3 million shares of United States Steel. Einhorn also eliminated his 4.77 million share stake in 21st Century Fox.

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Billionaire investor David Einhorn’s Greenlight Capital picked up shares of AerCap Holdings , Calpine Corp. , and United States Steel Corp. in the third quarter, while trimming its stake in Apple Inc. , 21st Century Fox and others, according to a regulatory filing on Monday. As of Sept. 30, Greenlight had sold more than 1.66 million shares of Apple, or around 24% of its holding in the iPhone maker. Apple remained the fund’s largest holding at more than 5 million shares, according to Whalewisdom.com, a site that tracks hedge-fund filings. In other moves, Einhorn added nearly 5.6 million shares of Calpine, bringing his stake to more than 11 million shares. He also added 1.37 million shares of AerCap and more than 3 million shares of United States Steel. Einhorn also eliminated his 4.77 million share stake in 21st Century Fox.

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Trivago, a German global hotel search platform, filed to go public in the U.S. Monday. The company proposed selling American depositary shares, a portion of which will be sold by the company and another by certain shareholders.The shares represent class A shares of travel B.V., the company’s affiliate. A The price range and number of shares are not yet determined. The company plans to list the shares on the Nasdaq Global Select Market under the symbol “TRVG.” J.P. Morgan Securities, Goldman, Sachs & Co. and Morgan Stanley & Co. are acting as lead underwriters.

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Shares of Advance Auto Parts Inc. rose more than 8% late Monday after the retailer reported third-quarter sales in line with expectations and higher-than-expected per-share gains. The company reported operating income of $194 million, or $1.53 a share, in the quarter, compared with $206 million, or $1.63 a share, a year ago. Adjusted for one-time items, Advance Auto Parts said it earned $1.73 a share, down from $1.95 a share a year ago. Sales reached $2.25 billion in the quarter, from $2.30 billion a year ago. Analysts polled by FactSet had expected Advance Auto Parts to earn an adjusted $1.71 a share on sales of $2.2 billion. Shares had ended the regular trading day down 1.5%.

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Shares of Zoe’s Kitchen Inc. fell 2.7% late Monday after the fast-casual restaurant chain reported third-quarter sales below Wall Street expectations. Zoe’s said it lost $300,000, or 2 cents a share, in the quarter, compared with a loss of $2.3 million, or 12 cents a share, in the year-ago period. Sales rose 19% to $67.3 million in the quarter, from $56.4 million a year ago. Adjusted for one-time items, Zoe’s Kitchen said it earned $700,000, or 4 cents a share, in the quarter, compared with $900,000, or 5 cents a share, a year ago. Analysts polled by FactSet had expected adjusted earnings of 4 cents a share on sales of $68.1 million. Comparable-restaurant sales rose 2.4%, Zoe’s Kitchen said. Shares had ended the regular trading day up 0.8%.

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U.S. stocks closed mostly flat on Monday, as the market’s recent upward momentum appeared to stall as investors sought more clarity on the policy proposals of president-elect Donald Trump. Major indexes are coming off a strong period of gains – last week was the Dow’s strongest since 2011 – that has persisted since the unexpected result of the presidential election. While equities have broadly risen, there has been a big divergence in the performance of specific sectors. Financial stocks have surged while technology has struggled, a trend that persisted on Monday. The Dow Jones Industrial Average [S: DJIA] rose 21.58 points, or 0.1%, to another record closing high of 18,869.24, with financial shares like Goldman Sachs [S: GS] supporting the blue-chip index. The S&P 500 [S: SPX] ended down 0.22 point to close at 2,164.22, essentially unchanged on the day. The Nasdaq Composite Index [S: COMP] fell 18.72 points to close at 5,218.4, a move of 0.4%, with technology stocks again among the biggest decliners of the day.

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Natural-gas futures jumped 5% Monday, with the front-month contract settling at its highest level in a week as traders bet that the winter season will soon boost demand and help draw down the record level of U.S. inventories. Oil futures, meanwhile, pared some of their earlier losses, but still finished at their lowest level since mid-September amid continued doubts over an output deal among major producers. December natural gas rose 13 cents, or 5%, to settle at $2.749 per million British thermal units. December crude lost 9 cents, 0.2%, to settle at $43.32 a barrel.

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