Markets News 

Uber, Lyft, China and more — top tech investment bankers share their biggest hopes and fears for IPOs in 2019

“Private equity IPOs for tech companies are not entirely unprecedented, though investors have only recently shifted their attention toward growing companies rather than cutting costs” writes Becky Peterson for businessinsider.com. While bankers said they are keeping a watchful eye, most still expect there to be around 50 US tech IPOs in 2019.Tencent Music, China’s largest music streaming company, went public on the New York Stock Exchange on Dec. 12 with a $21 billion market cap. Source: businessinsider.com Share This:

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News Stocks 

Investors flee U.S. stock funds at record pace: Lipper

“Investors fled U.S. equity funds at the fastest pace on record in the week ended Wednesday, according to data from Lipper” writes Sunny Oh for marketwatch.com. More than $46 billion was redeemed from U.S. stock mutual funds and ETFs between Dec. 5 and 12, the largest weekly outflow since Lipper began tracking weekly flows in 1992.The big winner from all this selling were money-market funds, which saw $81.2 billion in inflows, according to Lipper.The figure is also nearly twice as large as any other week on record, underscoring the increasingly…

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Futures News Stocks 

2018: The year volatility came home to roost

“Asset managers, leveraged funds and other reporting classes that make up the so-called buy side are net long VIX futures” reports businessinsider.com. The Cboe Volatility Index, a widely followed barometer of expected near-term volatility for stocks, has logged an average daily close of 15.8 so far in 2018, up from 11.2 last year.The resurgence was so extreme it derailed several products that employed VIX futures.Speculators’ positions in VIX futures have also undergone a sea change.Some VIX-linked products that thrived in the calm of 2017 went belly up, and the number…

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News Stocks 

Long-time GE bear ditches negative view, shares jump

“GE shares surged after JP Morgan analyst Stephen Tusa raised his rating on GE shares to “neutral” from “underweight.”” writes Midwest Communications Inc for 95kqds.com. GE shares jumped 10.7 percent to $7.43 in Thursday morning trading in heavy volume.GE shares, which were removed from the blue-chip Dow Jones Industrial Average earlier this year, have tumbled more than 50 percent this year alone.NEW YORK (Reuters) – A JP Morgan analyst who has long held a negative outlook on General Electric Co shares as they have tumbled upgraded his view on the…

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News Stocks 

GE shares surge 12% after JP Morgan analyst who called their decline says the bottom is near

“GE shares jumped 12 percent in premarket trading to $7.41 from Wednesday’s close of $6.71 a share” writes Michael Sheetz for cnbc.com. GE shares fell as low as $6.66 this week, which was their low close during the financial crisis.Tusa said in the note that he sees “upside risk” to the stock of $8 and “downside risk” of $5.Tusa put out a bearish note on GE in May 2016 when the stock was above $30 that questioned the conglomerate’s earnings and cash flow outlook. Source: cnbc.com Share This:

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News 

Relief for equity release firms as new rules ‘less onerous’ than feared 

“Equity release providers have breathed a sigh of relief as new capital adequacy requirements will not be as severe as previously expected” writes Matthew Lynn for telegraph.co.uk. The Prudential Regulation Authority (PRA) has watered down previous proposals that would have required insurers to hold significantly more capital against the value of such loans. Source: telegraph.co.uk Share This:

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News 

Speed of revolving door between SEC and private sector is shocking, says expert on regulatory capture

“It means you and I can only invest in the bad stuff and the good stuff is reserved for the private investors” writes Francine Mckenna for marketwatch.com. Toys “R” Us, Inc. which recently filed bankruptcy was in and out of private equity ownership.One way to encourage more companies to go public is to shed some light on private equity ownership. Source: marketwatch.com Share This:

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Crypto News 

Ledger, Neufund Partner to Create Security Tokens Framework

“At that time, Neufund was reportedly aiming to become the first end-to-end primary issuance platform for security tokens, specializing in equity tokens” writes Ana Alexandre for cointelegraph.com. Ledger’s collaboration with blockchain-based equity and crypto fundraising platform Neufund aims to develop a framework for security tokens.Cryptocurrency hardware wallet firm Ledger has partnered with German crypto startup Neufund to let users manage security tokens via Ledger’s desktop app, according to a press release Dec. 6.Previously, Neufund teamed up with cryptocurrency exchange BitBay to let investors buy and sell equity tokens with fiat currencies.Ledger…

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Markets News Stocks 

Tesla is reportedly planning to pay off its next chunk of convertible debt in an odd way

“Tesla has $920 million worth of debt coming due in March, and it’s reportedly chosen to pay holders of the convertible notes in an unusual fashion” writes Graham Rapier for businessinsider.com. If the stock price is above, notes are generally converted into equity shares.While the March tranche is the most immediately due, it’s not the largest of Tesla’s outstanding debt.Tesla’s stock closed at $363 on Thursday, roughly 0.8% above the conversion price of the bonds. Source: businessinsider.com Share This:

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Markets News 

Citi CFO forecasts lower markets revenue for fourth quarter

“(Reuters) – Citigroup Inc Chief Financial Officer John Gerspach said the bank expects market revenue in the current quarter to be slightly lower than last year” writes Midwest Communications Inc for 95kqds.com. Bank of America CEO Brian Moynihan said capital markets revenue should be up a few percentage points compared to 2017.”We had anticipated we would actually see year-over-year revenue growth in fixed income and equity markets,” he said.Speaking at the same conference, JPMorgan Chase & Co Chief Executive Jamie Dimon said he expects trading revenue should be roughly in…

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