Bill Ackman: Stock Market Waiting for Rate Hikes to Stop for Buy Signal (Seeking Alpha)
Billionaire hedge fund manager Bill Ackman said Tuesday that investors are waiting for the Federal Reserve to halt its rate hikes before they aggressively move back into the stock market. “I think once people realize the Fed doesn’t have to keep increasing rates and will soon be taking rates down, that’s kind of a buy signal for markets,” the founder and CEO of Pershing Square Capital Management told CNBC.
Tech Stocks Lured Hedge Funds in August – Report (Reuters)
NEW YORK, Sept 6 (Reuters) – Hedge funds got back in to stocks in the technology, media and telecom (TMT) sector in August, in the most active buying since February 2021, according to a Goldman Sachs prime services report. Long buys in the so-called TMT sector outpaced short sales at a 6.5 to 1 ratio, the bank said in the note, underscoring that portfolio managers were more optimistic about the sector’s valuations.
Inside Wall Street’s most innovative tech projects from top firms like Morgan Stanley, JPMorgan, Goldman Sachs, and Millennium (Business Insider)
There’s no shortage of tech innovation on Wall Street. Both buy- and sell-side firms are investing billions in ambitious technology projects that seek to upend traditional ways of doing business across investment banking, sales and trading, and asset management. Wall Street firms now face an abundance of data — collected from both internal and third-party sources — that they use to drive investment and trading decisions. But knowing when to use that information, and how to effectively deliver it to employees and clients in an accessible way, is now a key focus for investment banks and hedge funds.
Tuesday 9/6 Insider Buying Report: AZEK, SPOK (Nasdaq.com)
On Friday, AZEK’s Director, Gary E. Hendrickson, made a $501,368 purchase of AZEK, buying 27,145 shares at a cost of $18.47 a piece. Investors are able to grab AZEK at a price even lower than Hendrickson did, with the stock changing hands as low as $17.84 at last check today which is 3.4% below Hendrickson’s purchase price. AZEK is trading off about 0.4% on the day Tuesday. Before this latest buy, Hendrickson made one other buy in the past year, purchasing $498,020 shares for a cost of $26.92 each. And on Thursday, Director Todd J. Stein purchased $249,353 worth of Spok Holdings, purchasing 34,729 shares at a cost of $7.18 a piece. Before this latest buy, Stein bought SPOK at 5 other times during the past year, for a total cost of $1.39M at an average of $7.13 per share. Spok Holdings is trading off about 1% on the day Tuesday.
Microsoft And 2 Other Stocks Insiders Are Selling (Benzinga)
Hyatt Hotels: The Trade: Hyatt Hotels Corporation (H) Director Michael Rocca sold a total of 3,000 shares at an average price of $87.55. The insider received around $262.65 thousand from selling those shares. Microsoft: The Trade: Microsoft Corporation (MSFT) CEO Satya Nadella sold a total of 56,999 shares at an average price of $257.71. The insider received around $14.69 million as a result of the transaction.
