US SEC chief Gary Gensler unveils plan to overhaul Wall Street stock trading

US Securities and Exchange Commission (SEC) Chair Gary Gensler testifies before a Senate Banking, Housing, and Urban Affairs Committee oversight hearing on the SEC on Capitol Hill in Washington, September 14, 2021. Evelyn Hockstein | Pool | Reuters The top US securities regulator on Wednesday proposed rule changes to transform how Wall Street handles retail … Read more

Netflix, Snap, Tesla, Home Depot, GameStop

Here are Thursday’s biggest calls on Wall Street: Piper Sandler downgrades Pinterest and Snap to neutral from overweight Piper downgraded Pinterest and Snap due to slowing digital ad growth. “After a strong two-year stretch, digital ad spend looks to be normalizing. Group multiples have declined and are ~ 40% off recent highs, but history suggests … Read more

Coatue doubled down on some of 2022’s biggest losers during the first quarter, including Netflix

Coatue Management’s Philippe Laffont doubled down on many of his favorite technology stocks – including Netflix – in the first quarter before their big sell-off, possibly inflicting big pain for his hedge fund. The so-called Tiger Cub increased its Netflix position by more than 50% to a stake worth $ 529 million at the end … Read more

Carvana, GameStop, AMC, General Motors and more

Check out the companies making headlines in midday trading Thursday. Carvana – Shares of the online used car retailer popped nearly 30%, alongside other heavily-shorted stocks. Nearly 29% of Carvana shares available for trading are sold short, according to FactSet. The company has faced negative sentiment on Wall Street recently, with downgrades this month from … Read more

Bed Bath & Beyond (BBBY) Q4 2021 earnings

Bed Bath and Beyond on Wednesday reported a surprising holiday-quarter loss, as the company ran low on inventory and struggled to move merchandise out of congested ports and onto shelves. CEO Mark Tritton said out-of-stock merchandise caused the company to miss out on about $ 175 million in fiscal fourth-quarter sales. That’s higher than the … Read more

Steve Cohen’s Point72 to reportedly redeem $ 750 million from Melvin Capital

Steven A. Cohen Getty Images Billionaire investor Steve Cohen’s Point72 Asset Management is pulling out the $ 750 million it invested in Melvin Capital Management, Bloomberg News reported on Saturday. Point72 will soon start redeeming the money in portions over time, the report said, citing people familiar with the matter. Both Melvin Capital, founded by … Read more