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Hedge funds caught short when Brexit talks surprise

“The market’s view on sterling over three to six months is near its most negative since shortly after the 2016 Brexit vote, options markets indicate” writes Midwest Communications Inc for 95kqds.com. That means that big jumps in sterling may reflect investor positions rather than outright confidence of a deal.Sterling’s trade-weighted index, which measures the value of the pound against its trading partners, is trading 16 percent below its 40-year average.Since its dramatic drop after the Brexit referendum in June 2016, sterling has become the principal gauge of sentiment in financial…

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A healthcare company that fought an 18-month battle with an activist investor just struck a $5.7 billion deal to end the fight

“On Monday, the healthcare company reached a $5.7 billion agreement with Veritas Capital and Elliott Management to be acquired” writes Lydia Ramsey for businessinsider.com. Under the two investment firms, Athenahealth will be joined up with Virence Health, a company Veritas acquired in 2018 for $1 billion from GE Healthcare.Elliott took a stake in the company in 2017 and started putting pressure on the company to sell itself.The deal, which values Athenahealth at $135 a share, follows months of pressure from Elliott to strike a deal and go private.”Combining with Virence…

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Markets News Stocks 

Mark Mobius says it’s time to buy stocks in emerging markets

“Stocks in emerging markets are looking “very cheap” now, and that’s a buying opportunity, prominent investor Mark Mobius told CNBC on Monday” writes Yen Nee Lee for cnbc.com. But Mobius said the sell-down has opened investment opportunities in emerging markets.As a result, the MSCI Emerging Markets Index — which tracks large and mid-cap stocks in 24 countries — has fallen by around 16 percent this year. That’s because the U.S. dollar has started to stabilize, which lessens the burden on emerging markets to service their debt denominated in the greenback,…

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Dollar Tree stock is a bargain, down 18 percent this year: Barron’s

“The U.S. financial newspaper said that Dollar Tree is trading at near a five-year low but could bounce back” reports businessinsider.com. FILE PHOTO: Exterior view of a Dollar Tree store is seen in Pasadena, California Thomson Reuters NEW YORK (Reuters) – Shares of Dollar Tree Inc are as big a bargain as the $1 goods it sells in its stores, with shares off 18 percent this year and trading at a discount to its biggest competitor Dollar General Corp and there is a possible activist investor in the wings, according…

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Top Chinese tech investor says he’s still optimistic about growth 

“Shen, however, pushed back Thursday against concerns about trade tensions and a cold spell for the Chinese tech sector” writes Nelson Ching for cnbc.com. Some recent data reports have been soft, adding to concerns that increasing trade tensions with the U.S. will cause growth to slow even further.WUZHEN, China — The head of Sequoia Capital’s China affiliate said Thursday there are still big opportunities for growth in the country’s digital economy, contrary to many concerns about a slowdown. Source: cnbc.com Share This:

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Elon Musk ‘probably should have taken’ Tesla private, early investor Tim Draper says

“Elon Musk could have saved himself some trouble by taking Tesla private, according to early investor and prominent Silicon Valley venture capitalist Tim Draper” writes Elizabeth Schulze for cnbc.com. Draper said investors need to be more sympathetic toward Musk, who is leading two “amazing” multi-billion dollar firms, Tesla and SpaceX. Draper, who founded VC firms Draper Associates and DFJ, was an early investor in both of Musk’s companies.The Securities and Exchange Commission (SEC) charged Musk with misleading investors, ultimately costing the company $20 million in settlement fees and Musk his…

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Takeda CEO confident of investor backing for $62 billion Shire deal

“We don’t have to do this Shire acquisition” reports businessinsider.com. Weber, however, said he was confident he had persuaded Takeda shareholders sufficiently for the company to name an EGM date, without specifying exactly when it would be held.Takeda, which has a market value of around $32 billion, has secured a $30.9 billion bridge loan to help finance the Shire acquisition and some investors are concerned as to how well it will cope with debt repayments. “My assumption always has been there would be more price pressure in the U.S. and…

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Galliford Try faces investor rebellion over bonus change in wake of Carillion scandal

“Galliford Try faces a shareholder rebellion after it appeared to relax bonus conditions for executives to make it easier for them to hit targets following the collapse of Carillion” writes Jack Torrance for telegraph.co.uk. Glass Lewis, which advises institutional investors on governance issues, has recommended that its clients vote against the construction giant’s remuneration report this week after it failed to explain the changes. Source: telegraph.co.uk Share This:

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Activist investor Icahn sues Dell over IPO plans

“Icahn and other hedge fund investors have resisted the plan, saying the proposed deal massively undervalues the tracking stock” writes Midwest Communications Inc for 95kqds.com. The investor also turned legal arguments against Dell in the past, having alleged that Michael Dell and Silver Lake undervalued the company’s go-private deal several years ago.Icahn, along with investor Darwin Deason, also urged Xerox Corp shareholders earlier this year to oppose a sale to Japan’s Fujifilm Holdings . Source: 95kqds.com Share This:

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Baillie Gifford has gotten in early on Amazon, Facebook, and Alibaba — here are 2 under-the-radar stock picks the firm loves

“That’s why it’s so impressive that Baillie Gifford got in early on many of the stock market’s most dominant names, including Facebook, Alphabet, Netflix, and Alibaba” writes Joe Ciolli for businessinsider.com. In an exclusive interview with Business Insider, Tom Slater — the firm’s head of US equities who comanages its flagship fund— reveals two sleeper stock picks Baillie Gifford loves.There’s also Tesla, the holding for which Baillie Gifford is perhaps best known, since it owns one of the biggest chunks of any institutional investor. Source: businessinsider.com Share This:

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