Elon Musk Trolls Billionaire Betting Against Tesla: ‘Will Send Einhorn a Box of Short Shorts’ (CNBC)
David Einhorn‘s hedge fund Greenlight Capital said the firm’s bet against Tesla shares “was our second biggest loser” in the most recent quarter. The billionaire also said in the Greenlight letter he was “happy that his Model S lease ended” and was replacing the car because of problems with the technology. Tesla CEO Elon Musk seized the opportunity on Twitter, retorting that he would send Einhorn “a box of short shorts to comfort him through this difficult time.”
Loeb Says He Sold Facebook, Laments ‘Very Disappointing Quarter’ (Bloomberg)
Facebook Inc. just lost the support of one of the most famous hedge fund managers. Dan Loeb, who runs Third Point LLC, said the firm has sold its Facebook stake, which amounted to 4 million shares at the end of March, according to data compiled by Bloomberg. Last week, the social-media giant plunged following a disastrous quarterly report that showed growth was hurt by recent criticisms and scandals. Facebook’s stock sank 19 percent on July 26.
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Jana Partners Hedge Fund Gains 2.4 pct in July, Up 6.9 pct for Year (Reuters)
BOSTON, Aug 1 (Reuters) – Jana Partners, the event-driven investment firm run by Barry Rosenstein, told clients that its main fund made money in July and is now beating the Standard & Poor’s 500 index. The Jana Partners fund gained 2.4 percent last month to leave it with a 6.9 percent gain for the year, according to a performance update seen by Reuters. The firm’s more aggressive Jana Nirvana fund rose 3.2 percent, leaving it up 9.7 percent for the year. The Standard & Poor’s 500 index rose 6.5 percent during the first seven months of 2018.
Hedge Fund Manager Elliott Cuts NXP Exposure After Qualcomm Deal Fails (Reuters)
LONDON (Reuters) – Hedge fund manager Elliott Management cut its stake in NXP Semiconductors (NXPI.O) after Qualcomm (QCOM.O), the world’s biggest maker of chips for mobile phones, called off a $44 billion deal to buy NXP last week, a recent filing with the U.S. regulator showed. Activist Elliott first announced a stake in NXP a year ago, launching a campaign to push for a higher price tag in the Qualcomm deal, which drove the bid up from $38 billion.
Insider Selling: World Wrestling Entertainment, Inc. (WWE) Insider Sells 100,000 Shares of Stock (WeekHerald.com)
World Wrestling Entertainment, Inc. (NYSE:WWE) insider Kevin Dunn sold 100,000 shares of the business’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $79.18, for a total transaction of $7,918,000.00. Following the sale, the insider now owns 258,674 shares in the company, valued at $20,481,807.32. The sale was disclosed in a legal filing with the SEC.
Insider Buying: Macquarie Infrastructure Corp (MIC) Major Shareholder Acquires 50,000 Shares of Stock (FairFieldCurrent.com)
Macquarie Infrastructure Corp (NYSE:MIC) major shareholder Group Ltd Macquarie purchased 50,000 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was acquired at an average price of $45.68 per share, for a total transaction of $2,284,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Insider Selling: Castlight Health Inc (CSLT) Director Sells $136,750.00 in Stock (BaseballDailyDigest.com)
Castlight Health Inc (NYSE:CSLT) Director Seth B. Cohen sold 25,000 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $5.47, for a total value of $136,750.00. Following the completion of the sale, the director now directly owns 297,716 shares of the company’s stock, valued at $1,628,506.52. The transaction was disclosed in a legal filing with the SEC.
Insider Buying: Cytocore common stock (MDIT) Director Acquires 1,100,000 Shares of Stock (MaconDaily.com)
Cytocore common stock (OTCMKTS:MDIT) Director William Austin Iv Lewis acquired 1,100,000 shares of the business’s stock in a transaction dated Wednesday, July 25th. The stock was acquired at an average cost of $0.08 per share, with a total value of $88,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: Wintrust Financial Corp (NASDAQ:WTFC) Insider Sells 12,301 Shares of Stock (FairFieldCurrent.com)
Wintrust Financial Corp (NASDAQ:WTFC) insider Edward J. Wehmer sold 12,301 shares of the business’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $91.12, for a total transaction of $1,120,867.12. Following the sale, the insider now owns 133,308 shares in the company, valued at $12,147,024.96. The sale was disclosed in a legal filing with the SEC.
