J.C. Penney has been increasing the number of stores run by popular beauty brand Sephora — owned by luxury giant LVMH (LVMH.PA) — within its stores to attract shoppers. “Having Sephora in stores helps J.C. Penney drive sales, but it also encourages shoppers to visit, so it helps to drive customer traffic,” Neil Saunders, chief executive of research firm Conlumino, said.
Several prominent hedge fund managers made bigger bets on U.S. automaker General Motors (GM.N) during the second quarter, despite the company’s battling a deadly ignition defect and tangling with shareholders over its stock price. Greenlight Capital’s David Einhorn bought 7.9 million shares between April and the end of June, raising his investment to 14.6 million shares. Einhorn had told investors about the stake but details on how much he actually
Top U.S. hedge funds bought new shares of Apple Inc(AAPL.O) during the second quarter or added to their existing positions, ahead of a decline in the value of shares of the iPhone maker. Filings with the U.S. Securities and Exchange Commission released on Friday showed David Tepper’s Appaloosa Management LP held 2.5 million shares of Apple as of June 30, a new position, and that Cliff Asness’ AQR Capital Management
Navinder Sarao, the London-based day-trader accused by the United States of a market manipulation that contributed to a Wall Street “flash crash” in 2010, was freed on bail on Friday after spending four months in prison. Sarao, who lived in a small, nondescript house near London’s Heathrow Airport, was arrested by British police on a U.S. extradition warrant in April after being charged with wire fraud, commodities fraud and market
It was certainly unusual, and could lead to one of the biggest judgments ever in Delaware’s Court of Chancery, a leading venue for corporate disputes. Dole faces two kinds of legal actions that have been combined because they both allege the buyout price was too low. A small group of hedge funds have brought a so-called appraisal action, which is being tried alongside a shareholder class action lawsuit.
Electric car maker Tesla Motors Inc said it was looking to raise about $642.5 million through a share sale, above the $500 million it announced on Thursday. The company said on Friday it would offer about …
U.S. stocks ended a volatile week higher on Friday after upbeat U.S. economic data and as euro zone finance ministers agreed to launch a third bailout program for Greece. All three major indexes also ended …
The energy sector has been hammered as oil prices hover near multiyear lows, but Morgan Stanley is pretty darn bullish. Chief U.S. Equity Strategist Adam Parker says energy remains one of his team’s top recommendations.
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