Point72’s Steve Cohen is stepping back from trading his own book

Key Points

Steve Cohen is retiring from the trading floor at his hedge fund Point72.
Point72, which uses long/short, macro and systematic strategies, manages more than $35 billion.
The firm is planning to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom.

Source

Finance

Stocks making the biggest moves midday: Reddit, Super Micro Computer, Intuit and more

November 22, 2024

Check out the companies making headlines in midday trading. Elastic – Shares surged about 15% after the software company topped Wall Street’s expectations for its fiscal second-quarter results. Elastic posted adjusted earnings of 59 cents per share on revenue of $365 million. Meanwhile, analysts surveyed by LSEG expected it to earn 38 cents per share […]

Finance

‘I have no money’: Thousands of Americans see their savings vanish in Synapse fintech crisis

November 22, 2024

Key Points Thousands of Americans will receive little or nothing from savings accounts that were locked during the collapse of fintech middleman Synapse. Customers believed the accounts were backed by the full faith and credit of the U.S. government. CNBC spoke to a dozen customers caught in the predicament, people who have lost sums ranging […]

Finance

Stocks making the biggest moves premarket: Gap, NetApp, Intuit and more

November 22, 2024

Check out the companies making headlines in premarket trading. Intuit — Stock in the financial software firm pulled back about 3% after its earnings guidance for the current quarter missed analyst estimates. Intuit forecast second-quarter earnings of $2.55 to $2.61 per share, while analysts polled by FactSet were looking for a profit of $3.25 per […]