Dec 6- Struggling U.S. retailer Sears Holdings Corp, led by hedge fund manager Edward Lampert, said it would spin off its Lands' End clothing business. The spinoff will be through a prorata distribution of Lands' End shares to shareholders, Sears said in a regulatory filing on Friday.» Read More
Bear Stearns could be sold if losses from two hedge funds are steep, and the company's stock price continues to fall, CNBC's Charlie Gasparino reported.
Hedge fund Och-Ziff Capital Management Group filed to go public in a deal that could raise as much as $2 billion, CNBC’s David Faber reported.
Bear Stearns may take until July 16 to tally losses at two struggling hedge funds that invested in risky mortgage-related securities, the Wall Street Journal Online reported on Monday.
A Democratic presidential debate, before a predominantly African American audience at Howard University last night, took a small step toward smoking out the leading White House contenders on Wall Street's hottest political issue: raising taxes on private equity and hedge fund executives. Former Sen. John Edwards of North Carolina, who has ducked an issue that would hit his former colleagues at Fortress Investment Group, couldn't avoid showing his populist colors.
Dillard's shares soared almost 12% on Thursday after an activist hedge fund unhappy with the department store operator's performance demanded talks with management, saying the stock is undervalued.
The state of Massachusetts accused UBS of providing hedge fund traders with favors intended to win brokerage business for the investment bank, according to a report.
Bear Stearns said Wednesday its private equity arm has no exposure to the two hedge funds in trouble due to losses in subprime mortgages.
Investors following the near-collapse of two hedge funds managed by Bear Stearns Cos. might be a little bit like a homeowner watching the house down the block catch fire.
All five commissioners of the U.S. Securities and Exchange Commission are to appear Tuesday at a Congressional hearing that is expected to explore hedge fund activities, access to corporate proxy statements and so-called soft-dollar arrangements.
Asset management firm BlackRock said it agreed to acquire the fund of funds business of Quellos Group for up to $1.7 billion, in a move to expand its alternative investment operations.
Benchmark ABX subprime indexes traded at fresh new lows today amid concerns that a new wave of defaults in subprime mortgages will spur further troubles for holders of collateralized debt obligations (CDOs) and other mortgage securities.
The markets head into the final week of the first half after a week defined by turbulence but capped by a highly successful IPO. This coming week, Apple rings in its new hot phone and the Street watches the Fed.
Bear Stearns confirmed it will bail out one of its troubled hedge funds with $3.2 billion in secured loans, but the Wall Street firm sought to convince the broader market its troubles are "relatively contained."
British bank Barclays on Friday said it had some exposure to funds that have lost money from investing in sub-prime mortgage assets in the United States, but that any loss in relation to the exposure would not be material.
On CNBC TV today, I have been talking about the top 5 things investors should know about the highly anticipated Blackstone IPO. (And, in case you're wondering, 5 was an arbitrary number.) Clearly, it was a very serious and informative piece of journalism. Now, let's have some fun. Here are the top 5 things investors REALLY WANT to know about Blackstone's IPO. I don't have the answers to any of them unfortunately--but it's more fun to fantasize, isn't it?
Activist investor Nelson Peltz has developed a taste for Kraft Foods, buying a 3% stake in the company, according to CNBC's David Faber, who quoted people familiar with Peltz's strategy. Kraft, which makes Oreo cookies and Oscar Mayer meats, saw its shares surge nearly 5% on the report.
Man Group, the world's biggest listed hedge fund firm, has set the indicative price range for the flotation of its U.S. brokerage arm, MF Global, valuing the unit between $4.6 billion and $5 billion.
130/30, 120/20, 140/40. No, they're not prescriptions from your eye doctor. They are the latest trend in the investing world, that allows traditional, long-term investors to use shorting to boost returns. Very simply, the funds leverage up to 130% (or 120% or 140%, depending on the flavor of the strategy) long exposure usually to an index or sometimes a basket of stock picks. They then short 30% (or 20 of 40%), betting against the stocks they think are overvalued. And voila! 100% net exposure.
Harvey Pitt, former SEC chairman and founder and chief executive officer of Kalorama Partners, told CNBC’s “Power Lunch” that a new tax aimed at private equity firms like Blackstone Group will hurt pension funds and the investing public.
Steve Schwarzman's wealth probably makes a lot of people jealous. He is, after all, fabulously rich. And that would be FABULOUSLY, in all caps. If Blackstone goes public, Schwarzman will become even more fabulously rich, to the tune of $677 million additional dollars, on top of retaining a 23% stake in the firm. And if that doesn't make you jealous, there's that Wall Street Journal profile of Schwarzman this week, (subscription required) which details, among other things, his upper class sensitivity to a butler's squeaky black shoes, and his and his wife's fancy for $400 worth of stone crabs on weekends.
All eyes are on the Fed's big announcement Tuesday. Fortunately, the taper and QE don't really matter all that much.
As we tick down to the Fed's policy statement, here's a tour through current policy with an eye to what might change.
Markets have been anticipating the Fed's direction ever since it began dropping hints about a decrease in asset purchases.