Month: August 2022
Snap stops development of Pixy flying camera drone in latest blow to hardware efforts
Snap is pausing development of Pixy, its $230 flying camera drone that was first announced in April, according to a person familiar with the matter who was not authorized to speak on the record. The news was first reported by the Wall Street Journal, which said the decision was relayed to the company’s staff by […]
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Industry veterans take a shot at making fusion commercial with insanely powerful lasers
Inside what’s called the amplifier bay of the Texas Petawatt Laser, where the energy of a laser pulse is boosted. The green light are the pump lasers that amplify or boost the energy of the main laser. Photo courtesy Todd Ditmire As the effects of climate change become more obvious, the promise of nuclear fusion […]
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Cisco shares on track for best day in almost two years after earnings beat
Chuck Robbins, Cisco CEO & Chairman, at the WEF in Davos, Switzerland on May 25th, 2022. Adam Galica | CNBC Cisco shares jumped about 6% on Thursday and headed for their best day in almost two years after the computer networking company reported better-than-expected quarterly results and offered rosy guidance for the coming year. Revenue declined […]
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Michigan governor’s race could cost $100 million as billionaire DeVos family spends millions to oust Gov. Gretchen Whitmer
The wealthy DeVos family is pouring millions of dollars into its long established political network to help Republican candidate Tudor Dixon overtake Michigan Democratic Gov. Gretchen Whitmer in what could be one of the most expensive races in the 2022 midterm elections. State records show that since the beginning of May, DeVos family members contributed […]
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Stocks making the biggest moves midday: Cisco, BJ’s Wholesale, Bed Bath & Beyond, Kohl’s and more
A customer walks through an aisle of a BJ’s Wholesale Club Inc. store in Falls Church, Virginia, U.S. Bloomberg | Bloomberg | Getty Images Check out the companies making the biggest moves midday: Cisco Systems — Shares of the networking equipment producer jumped 5.8%. The company reported earnings after the bell on Wednesday that beat […]
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This $3.8 billion hedge fund is shaking up the industry with its pay-for-performance model
(Click here to subscribe to the Delivering Alpha newsletter.) When Peter Kraus founded Aperture Investors, he deviated from the traditional active management model. Rather than raking in fixed fees, Kraus’ $3.8 billion firm operates on a fee structure linked to performance, charging 30 percent of alpha. That’s higher than the industry standard but since inception, about half […]
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Hedge funds are sitting on a record level of bearish bets on the stock market
Traders work on the floor of the New York Stock Exchange (NYSE), August 17, 2022. Brendan McDermid | Reuters Hedge funds are getting increasingly skeptical about this big rally that broke out in the middle of a bear market. Net short positions against the S&P 500 futures by hedge funds have reached a record $107 […]
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Embracer Group buys rights to ‘Lord of the Rings’ films and other Tolkien intellectual property
Still from “Lord of the Rings: The Fellowship of the Ring.” New Line Cinema Swedish company Embracer Group said Thursday that it agreed to acquire Middle-earth Enterprises, which owns worldwide rights to “The Lord of the Rings” and “The Hobbit” film trilogies as well as other properties related to the books by J.R.R. Tolkien. Embracer […]
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Airline unions urge carriers not to resume buybacks when bailout ban ends this fall
A United Airlines flight crew walks through the terminal at San Francisco International Airport on April 12, 2020 in San Francisco, California. Justin Sullivan | Getty Images The largest U.S. airlines are making money again. Labor unions don’t want them to spend it on stock buybacks. A condition of the $54 billion in federal aid […]
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Google workers demand equal abortion benefits as state bans go into effect
Bambi Okugawa is a data center technician in one of Google’s data centers in a U.S. state with one of the strictest abortion bans in the nation: Tennessee. The state will ban abortions as early as six weeks, with no exceptions for rape or incest, on Aug. 25 due to a “trigger law.” If needed, […]
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