Sears Canada Loss Narrows As Same-Store Sales Decline Slows (Reuters)
Struggling department store chain Sears Canada Inc reported a smaller first-quarter loss as decline in its same-store sales was the slowest in five quarters. Sears Canada, whose largest shareholder is Sears Holdings Corp Chief Executive Eddie Lampert and his hedge fund ESL Investments Inc, said on Wednesday that its same-store sales fell 4.3 percent in the first quarter. Comparable sales had fallen 6.8-9.1 percent in the past four quarters.
Icahn Nets $3.4 Billion on Apple (CNBC)
Carl Icahn‘s big bet on Apple is now one of the greatest trades of all time. Icahn has made about $3.4 billion on the technology company since he first tweeted about the position on Aug. 13, 2013, according to a CNBC analysis of public ownership disclosures and stock prices.
Marc Lasry Says Jeb Bush Would Be ‘Reasonable’ President (Bloomberg)
Marc Lasry, the investor who’s raising money for Hillary Clinton’s presidential campaign, said potential Republican candidate Jeb Bush would be a “reasonable” president. “He would be reasonable, he’d be a good president,” Lasry said in an interview Tuesday with Mark Halperin and John Heilemann on Bloomberg Television’s “With All Due Respect.” “I think I would look at it very differently with some of the other candidates.”
Gotham City Says Plus500 Will Fall as Short Sellers Place Bets (Bloomberg)
Gotham City Research LLC, run by New York short seller Daniel Yu, said it’s “wary” of British trading platform Plus500 Ltd., predicting the shares will decline further after they dropped 46 percent this week. Investors Valiant Capital Management and Ennismore Fund Management, which have bet against other firms Gotham has questioned before, have taken short positions in Plus500, according to company filings.