NEW YORK, May 23- Lawyers for SAC Capital Advisors called a meeting with U.S. prosecutors and FBI agents in April to argue that there should be no insider trading charges filed against the $15 billion hedge fund or its founder, Steven A. Cohen, according to sources familiar with the matter. A lawyer for SAC Capital did not respond to a request for comment.» Read More
*Upward momentum persists, Internet shares among day's gainers. *Apple leads Nasdaq lower; hedge fund cuts stake in the company. NEW YORK, May 15- U.S. stocks edged up on Wednesday, with the Dow and S&P 500 hitting new all-time highs as the market's recent upward momentum persisted, but a steep decline in Apple kept gains in check.
May 15- One-time hedge fund darling Apple Inc was dropped by more famous hedge fund managers in the first quarter, including John Griffin and Chase Coleman. Shares of Apple were down $17.91, or 4 percent, in trading on the Nasdaq on Wednesday.
NEW YORK, May 15- Barry Rosentein's JANA Partners liked grocery chain Supervalu Inc in a big way in the first quarter, while Philippe Laffont's Coatue Management lost its stomach for the company's shares.
Billionaire hedge fund manager Daniel Loeb said Sony reminds him of Yahoo before he waged a bitter proxy fight that triggered a boardroom shake-out at the Internet company.
BOSTON, May 15- Zynga Inc. shares jumped 7.6 percent to $3.57 in morning trading Wednesday, shortly after hedge fund manager Barry Rosenstein said his Jana Partners had taken a new stake in the online games developer earlier this year.
Even as stocks extend their mostly uninterrupted path higher, fund managers are holding big amounts of cash, worrying about China and a commodities crash.
TOKYO, May 14- Billionaire hedge fund investor Daniel Loeb on Tuesday called on Sony Corp to spin off its lucrative entertainment arm, setting the stage for a clash between his activist Wall Street fund and management at the Japanese electronics maker.
*Sony option and share volume far above normal on Monday. *Sony option volume hits records Monday, Tuesday- Trade Alert.
May 14- Billionaire investor Daniel Loeb likely faces an uphill battle to convince Sony Corp to embrace his proposal to spin off its entertainment arm, but he likely already holds a winning hand in his bet on the Japanese electronics giant. Loeb and investors in his hedge fund Third Point Offshore are already reaping the benefits of a well-timed move into Japan.
*Sony option and share volume far above normal on Monday. May 14- A surge in option market bets on Sony Corp just before a large hedge fund investor announced a big stake and called for a major restructuring of the company has raised concerns that some traders may have had advance word of the news.
*Elliott says all of its and Hess' nominees should be on the board. May 14- Hedge fund Elliott Management Corp, which has already rejected a settlement offer from Hess Corp that would have given the activist investor two seats on the oil and gas company's board, said it would be willing to settle if Hess puts all five of the Elliott-backed nominees on the board.
The tech giant is likely to report below-expected earnings next Thursday, reports CNBC's David Faber.
*Sony jumps after hedge fund chief favors spinning off entertainment unit. *Electric carmaker Tesla Motors extends gains on raised sales outlook. "Earnings season is pretty well done, we don't really have any big economic points on the horizon," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.
David Tepper, Appaloosa Management founder & CIO, shares his views on how the Fed will taper out of its bond-buying program; and discloses what he is buying and where he sees the economy headed.
David Tepper, Appaloosa Management founder & CIO, explains why he is definitely "bullish" on the stock market. "The numbers are truly amazing," he added.
David Tepper, Appaloosa Management founder & CIO, explains why he is definitely "bullish" on the stock market. (4:27)
TOKYO, May 14- A New York- based hedge fund with a reputation as an activist investor has proposed that Sony Corp spin off its entertainment division via an IPO, saying the move could boost the Japanese electronics firm's shares by as much as 60 percent.
The statement from a Sony spokesman came after hedge fund Third Point went public with a proposal for Sony to sell part of its entertainment division in a public offering to bolster the electronics group's profitability and boost the share price.
TOKYO, May 14- New York- based hedge fund Third Point said it has proposed to Sony Corp's Chief Executive Kazuo Hirai that the Japanese electronics maker conduct an initial public offering for its entertainment division.
NEW YORK-- Hess Corp. says it is willing to add two of Elliot Capital Management's nominees to its board after they agreed to forgo compensation from the hedge fund. But Elliot Management says the Hess move is a stunt, and it wants shareholders to hold out for bigger changes.