Steve Cohen’s Point72 Is Exploring Raising Venture Fund (Bloomberg)
Steve Cohen’s Point72 Asset Management has discussed with clients the possibility of raising a venture fund at the same time he’s predicting lackluster returns for hedge funds. Cohen, who made his $10 billion fortune running a hedge fund, spent years building a team led by Matthew Granade to make venture investments with his personal wealth through a unit called Point72 Ventures. They’ve recently talked with prospective clients about adding a fund that would manage outside money, according to people with knowledge of the matter, who asked not to be identified because the discussions are private. The fund could exceed $750 million, one of the people said.
Detour Gold Denies Paulson’s Demand to Immediately Replace CEO (Reuters)
Nov 29 (Reuters) – Detour Gold Corp said on Thursday Chief Executive Officer Michael Kenyon will head the company until it finds a permanent replacement, pushing back against hedge fund Paulson & Co.’s demand to immediately replace him. Paulson & Co, which has a stake of about 6 percent in the miner, has pushed for Kenyon’s resignation, saying the company had “unsuccessfully tried to boost short-term performance” including “questionably running up its accounts payable to exaggerate cash flows”.
Alex Oakenman / shutterstock.com
Crispin Odey’s Fund Among Winners as Intu Takeover Collapses (Bloomberg)
Hedge-fund manager Crispin Odey saw his bet against Intu Properties Plc pay off as a Brookfield Property Group venture abandoned its pursuit of the U.K. shopping-mall owner on Thursday. Intu plummeted by as much as 41 percent in London, the most since it started trading in 1992. The drop means a quick profit for short sellers. Odey Asset Management was the largest short seller betting against the company. A Barclays Plc filing disclosed wagers by a client totaling 0.6 percent of the company’s shares on Tuesday.
Exclusive: Elliott Steps in to Boost Arconic’s Sale Process – Sources (Reuters)
(Reuters) – Elliott Management Corp., the activist hedge fund that sits on Arconic Inc’s (ARNC.N) board, has stepped in to assume potential liabilities weighing on the sale process for the U.S. aluminum products maker, according to people familiar with the matter. Elliott’s move comes after Arconic rejected an acquisition offer of more than $11 billion from Apollo Global Management LLC (APO.N) as inadequate. Elliott hopes its intervention can help Arconic fetch a higher price, the sources said on Thursday.
‘Fundamentals Starting to Matter’ to Investors (Yahoo Finance)
Former hedge fund manager Whitney Tilson says the recent market shifts show investors are realizing there’s risk on Wall Street, and that’s presenting an opportunity for shorts. He spoke with Yahoo Finance’s Alexis Christoforous and Julia La Roche.
Insider Buying: Acer Therapeutics Inc (NASDAQ:ACER) Director Buys 275,000 Shares of Stock (MareaInformativa.com)
Acer Therapeutics Inc (NASDAQ:ACER) Director Life Science Ventures Vii Tvm acquired 275,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was bought at an average cost of $18.00 per share, with a total value of $4,950,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Buying: Contango Oil & Gas (MCF) Director Buys $186,430.00 in Stock (PressOracle.com)
Contango Oil & Gas (NYSEAMERICAN:MCF) Director John C. Goff purchased 51,500 shares of the company’s stock in a transaction on Friday, November 23rd. The stock was purchased at an average cost of $3.62 per share, for a total transaction of $186,430.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Insider Selling: Teladoc Health Inc (TDOC) CEO Sells 35,000 Shares of Stock (FairFieldCurrent.com)
Teladoc Health Inc (NYSE:TDOC) CEO Jason N. Gorevic sold 35,000 shares of Teladoc Health stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $54.80, for a total transaction of $1,918,000.00. Following the sale, the chief executive officer now directly owns 541,184 shares in the company, valued at approximately $29,656,883.20. The sale was disclosed in a legal filing with the SEC.
Insider Selling: Brooks Automation, Inc (NASDAQ:BRKS) CEO Sells 94,826 Shares of Stock (MareaInformativa.com)
Brooks Automation, Inc (NASDAQ:BRKS) CEO Stephen S. Schwartz sold 94,826 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $30.93, for a total transaction of $2,932,968.18. The sale was disclosed in a filing with the SEC.
Insider Buying: The GEO Group Inc (GEO) CEO Acquires $1,116,500.00 in Stock (PressOracle.com)
The GEO Group Inc (NYSE:GEO) CEO George C. Zoley purchased 50,000 shares of the company’s stock in a transaction on Wednesday, November 21st. The shares were bought at an average price of $22.33 per share, for a total transaction of $1,116,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,750,000 shares in the company, valued at approximately $39,077,500. The purchase was disclosed in a filing with the Securities & Exchange Commission.
