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SEC approves Nasdaq PHLX’s proposal to expand use of Snapshot functionality of Floor-Based Management System

“The proposed rule change will allow the Snapshot functionality to be used for all orders on the trading floor” reports financefeeds.com. The Trading System will reject a trade that is subject to a Snapshot if it would violate trade-though or priority rules.The Exchange has proposed to expand the use of the Snapshot functionality to all orders on the trading floor, subject to the current procedures for and the limitations on the use of Snapshot.At present, the “Snapshot” feature of the FBMS may only be used to provisionally execute certain types…

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News Stocks 

Facebook’s stock tumbles toward 19-month low as analyst suggests management shake-up

“He suggests a shake-up of top management should be considered, as many of Facebook’s issues appears to have been exacerbated by “questionable” leadership decisions” writes Reporter Editor for marketwatch.com. “In our view, Facebook’s board and management team could accelerate the credibility rebuild by considering making change(s) at the top of the organization,” Devitt wrote in a note to clients.The stock has now plunged 36% since closing at a record $217.50 on July 25, while the S&P 500 SPX, -0.14% has lost 4.0% over the same time.Analyst Scott Devitt at Stifel…

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What Do Management Woes, Sinking Morale Mean for Facebook’s Stock?

“Responding to criticism that Facebook’s management and board were slow to act in the face of growing threats, Facebook’s board issued a statement on Thursday” writes Annie Gaus for thestreet.com. Facebook’s management undoubtedly would rather avoid the scrutiny as the embattled social network strives to reassure employees, and investors, that it has truly righted the ship.Dishy as the details may be, for investors the consequences of management dysfunction at Facebook are quite real. Source: thestreet.com Share This:

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Instagram rolls out time management tools to improve ‘digital wellbeing’

“Instagram has begun to roll out the time management tools the Facebook-owned social network announced in the summer” reports techdigest.tv. It followed announcements by Apple and Google that they would introduce activity tracking tools and time limit features that would allow users to monitor and limit their digital activity if they so wish. Source: techdigest.tv Share This:

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Athenahealth sold for $5.7 billion after activist fund Elliott Management pulls bid

“Private equity firms Veritas and Evergreen Coast Capital agreed to buy Athenahealth, the healthcare software firm that an activist investor had previously attempted to take over, for $5.7 billion” reports washingtonexaminer.com. The former chief executive officer of the Watertown, Mass.-based company departed earlier this year amid contentious discussions with billionaire Paul Singer, whose firm, Elliott Management, later dropped its bid.While no major healthcare legislation is likely to be passed once control of Congress is split between Democrats and Republicans in January, there are some areas of potential compromise.In the past,…

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Qualtrics Skips IPO for $8B Sale to SAP

“SAP (NYSE: SAP) makes a variety of software products, including tools for enterprise resource planning, supply chain management, human resources, and managing connected devices” writes Jeff Engel for xconomy.com. This year’s other multibillion-dollar tech deals include Microsoft’s $7.5 billion acquisition of GitHub, Salesforce’s $6.5 billion purchase of MuleSoft, the $5.2 billion merger of Cloudera and Hortonworks, and IBM’s $34 billion acquisition of Red Hat—the biggest software acquisition of all time. Source: xconomy.com Share This:

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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 

China proposes new laws on vaccine management

“SHANGHAI (Reuters) – China has proposed new draft laws on vaccine management which seek to tighten the supervision and management of how vaccines enter the country’s market and will also require stricter management of their production, research and distribution” writes Midwest Communications Inc for 95kqds.com. The State Administration for Market Regulation, which published the draft laws on its website late on Sunday, is soliciting public views up to Nov. 25. China has pledged to reform and improve vaccine production and management after recent scandals which involved a firm that fabricated…

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President Trump blames deadly California wildfires on ‘gross mismanagement of the forests’

“It’s not the first time Trump has blamed forest management on deadly wildfires” writes Graham Rapier for businessinsider.com. “There is no reason for these massive, deadly and costly forest fires in California except that forest management is so poor,” he said early Saturday.”Billions of dollars are given each year, with so many lives lost, all because of gross mismanagement of the forests.”There are millions and millions and millions of dollars going into fighting fires,” Bonnicksen said, “but there are not millions and millions and millions of dollars going into preventing…

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