AMD Shares Climb 5.2% on Third Point Stake (MarketWatch)
Advanced Micro Devices shares climbed 5.2% to $102.42 following Monday’s disclosure that Daniel Loeb‘s Third Point LLC took a stake in the company. The hedge fund run by Mr. Loeb, an activist investor, has a stake in the chip maker of 1 million shares, according to a regulatory filing. Shares of AMD have been mixed in recent weeks. The stock fell more than 9% on May 3, a day after its reported earnings showed the company swinging to a loss in the first quarter. Shares recovered the next day following a Bloomberg report that AMD will work with Microsoft to develop artificial intelligence processors.
Cryptocurrency Hedge Fund ARK36 Launches Algorithmic Machine Learning Trading Software (FinancialIT.net)
ARK36, the Cyprus-based leading alternative investment digital asset fund, has announced today the launch of a unique, proprietary machine learning-based trading software system, to improve the way its portfolio management team can navigate the dynamic world of cryptocurrency trading. The new software will leverage advanced algorithms to enable ARK36’s traders to make more informed decisions, navigate market challenges and optimise their trading strategies with precision and confidence.
Tudor Jones on Bitcoin: ‘I’ve Never Sat on a Horse That Long’ (Blockworks.co)
Longtime trader and billionaire hedge fund manager Paul Tudor Jones told CNBC’s “Squawk Box” that he’s sticking with bitcoin despite the regulatory pressures in the United States. “From the beginning, I’ve always said that I want to have a small allocation [of bitcoin],” Jones said. “It’s the only thing that humans can’t adjust the supply [of].” “I’m sticking with it. I’m always going to stick with it,” he added.
Tuesday 5/16 Insider Buying Report: DISH, ET (Nasdaq.com)
At DISH Network, a filing with the SEC revealed that on Friday, James Defranco purchased 3,000,000 shares of DISH, for a cost of $6.20 each, for a total investment of $18.59M. Defranco was up about 13.2% on the purchase at the high point of today’s trading session, with DISH trading as high as $7.01 in trading on Tuesday. DISH Network is trading up about 1% on the day Tuesday. Before this latest buy, Defranco bought DISH on 9 other occasions during the past year, for a total cost of $39.13M at an average of $12.79 per share. And also on Friday, Executive Chairman Kelcy L. Warren bought $6.14M worth of Energy Transfer, buying 500,000 shares at a cost of $12.27 a piece. Before this latest buy, Warren bought ET at 9 other times during the past year, for a total investment of $142.27M at an average of $12.11 per share. Energy Transfer is trading down about 0.5% on the day Tuesday. So far Warren is in the green, up about 2.4% on their purchase based on today’s trading high of $12.56.
Electronic Arts, TD SYNNEX And 2 Other Stocks Insiders Are Selling (Benzinga)
ResMed: The Trade: ResMed Inc. (RMD) CFO Brett Sandercock sold a total of 12,574 shares at an average price of $233.13. The insider received around $2.93 million from selling those shares. Electronic Arts: The Trade: Electronic Arts Inc. (EA) Director Richard A Simonson sold a total of 10,000 shares at an average price of $125.66. The insider received around $1.26 million from selling those shares.
