Greenlight Capital Re’s David Einhorn lamented a bum year in his shareholder letter for 2017 with an investing loss of 1.6% net of fees. He also announced the new lineup of stocks he selected during the fourth quarter: Twitter, Ensco and Time Warner. First, Einhorn surprised investors by taking a long position in Twitter. As he acknowledged in the letter, he has been betting that certain stocks in the tech space will fail. These stocks, ...
On Monday Twitter reported slowing user growth setting up that stock to open down 13% the following day. Tuesday Facebook told investors that its costs will rise between 50% and 70% next year — shares opened down 6.6% Wednesday. Initially its seemed LinkedIn would complete the crummy social earnings trifecta as the stock tumbled as much as 7% following its after-hours release Thursday. But about 45 minutes after the closing bell the stock was up more than 2.5% to around $208.50. ...
Twitter taps the debt markets, announces convertible bond offering. Friday morning Twitter TWTR -1.01% said it raised $1.8 billion in the convertible bond offering it announced earlier in the week, up from the $1.3 billion it planned to raise as the deal met with robust demand. The five-year tranche of the offering, with notes due in 2019, carried a 0.25% interest rate, while the seven-year 2021 notes bear 1% interest, payable semi-annually ...
Chinese CPI dropped below 2% - Danske Bank Analyst Anders Fischer at Danske Bank noted the sharp drop of Chinese consumer prices during April. Key Quotes “In China consumer price inflation in April dropped markedly to 1.8% y/y (consensus: 2.1% y/y) from 2.4% y/y in March and inflation in China is now at the lowest level since October 2012”. “The drop in inflation in April was mainly driven by lower food prices. Food-price inflation is likely to ...
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