hallojulie/iStock via Getty Images There’s a lot going on right now, and I’ve got way more questions than answers. Here are a few that seem important: Is this stock market correction the beginning of a bear market? Obviously, no one knows, but Friday’s close did mark a milestone. The S&P 500 and NASDAQ Composite both closed below their respective 200-day moving averages. The 200-day MA is merely a...
hallojulie/iStock via Getty Images There’s a lot going on right now, and I’ve got way more questions than answers. Here are a few that seem important: Is this stock market correction the beginning of a bear market? Obviously, no one knows, but Friday’s close did mark a milestone. The S&P 500 and NASDAQ Composite both closed below their respective 200-day moving averages. The 200-day MA is merely a trend that smooths out the short-term ups and downs of the market. There are numerous studies showing that a trend-following system that owns the index above the average and sells it below performs better than just buy and hold, especially on a risk-adjusted basis. On the other hand, as a sell signal, it produces a fair number of false positives. Another useful, if less well-tracked, moving average is the 50-month moving average. We have had 6 drawdowns of greater than 20% in the S&P 500 since the turn of the century (one about every 4 years). In four of those, the 50-month moving average marked the low. The other two were bear markets of the great variety, ones that fall an average of 50% rather than the 25% of the routine variety. The dot-com bear market ran from March 2000 to October 2002 and saw the index fall 49.1%. The financial crisis bear market of 2008 fell 56.8%. Those bear markets saw the index fall below the 50-month moving average and keep falling. Today, the S&P 500 is down about 7% from its high, and falling to the 50-month MA would require a further drop of 20%, so if this is a bear market, it still has quite a ways to go. The difference between great bear markets and routine ones is significant. The market didn’t make a new high after the dot-com bust until late 2007 and then almost immediately crashed again in 2008. Combining the two, it took almost 13 years to make a new high. By contrast, routine bear markets take about 2 years to recover to new highs. Let’s hope that if this is a bear market, it's a routine one. If you missed the non-US stock surge las...
Grab Holdings Ltd. agreed to buy Delivery Hero SE ’s Foodpanda operations in Taiwan for $600 million, a deal that marks its first foray outside of its Southeast Asian home market. The cash acquisition will allow Grab to expand into 21 cities across Taiwan, the Singapore-based ride-hailing and delivery company said in a statement on Monday. It expects the transaction to be completed in the second h...
Grab Holdings Ltd. agreed to buy Delivery Hero SE ’s Foodpanda operations in Taiwan for $600 million, a deal that marks its first foray outside of its Southeast Asian home market. The cash acquisition will allow Grab to expand into 21 cities across Taiwan, the Singapore-based ride-hailing and delivery company said in a statement on Monday. It expects the transaction to be completed in the second half, subject to regulatory approvals. The purchase gives Grab presence in a market of about 23 million people, helping it to expand beyond the intensely competitive Southeast Asian region. Grab has seen growth slow dramatically from triple-digit rates in years past as it takes steps to focus on profitability. Shares of Delivery Hero gained as much as 2.8% on Tradegate ahead of the European market open. Grab slid about 1% in pre-market US trading. Delivery Hero, which operates in more than 70 countries, has been trying to shed units in Asia in the past few years, including a sale of its Taiwan operations to Uber Technologies Inc. that was blocked on antitrust grounds. It also terminated a planned sale of its Southeast Asia business. Read More: Uber Terminates Deal to Buy Delivery Hero’s Taiwan Business Germany-based Delivery Hero is under pressure from several of its largest shareholders to conduct a strategic review amid wider industry consolidation. Investors including Hong Kong hedge fund Aspex Management , its second-biggest shareholder, have pushed for a sale or divestments to streamline the business. Grab, meanwhile, is seeking new sources of growth after an increased customer base left it with less room for user gains. It introduced novel product offerings and made acquisitions to bring in more consumers in a challenging economy. The Foodpanda deal is expected to contribute at least $60 million in incremental adjusted earnings before interest, taxes, depreciation and amortization in 2028, Grab said. Read More: Delivery Hero Holder Aspex Tells CEO to Sell Units or Leav...
ByteDance sells game studio Moonton to Saudi wealth fund ByteDance Ltd. has agreed to sell its video game studio Moonton to a subsidiary of Saudi Arabia’s sovereign wealth fund, according to an internal letter seen by Caixin. Moonton will become a wholly owned subsidiary of Savvy Games Group, a unit of the Public Investment Fund (PIF), Moonton CEO Zhang Yunfan said in the letter. The studio’s mana...
ByteDance sells game studio Moonton to Saudi wealth fund ByteDance Ltd. has agreed to sell its video game studio Moonton to a subsidiary of Saudi Arabia’s sovereign wealth fund, according to an internal letter seen by Caixin. Moonton will become a wholly owned subsidiary of Savvy Games Group, a unit of the Public Investment Fund (PIF), Moonton CEO Zhang Yunfan said in the letter. The studio’s management structure will remain unchanged, with its headquarters staying in Shanghai and Zhang continuing as CEO. Zhang said the partnership with Savvy would bring broader development opportunities and provide accelerated vesting and payouts of previously granted long-term incentives to employees.
Salzgitter AG press release ( SZGPF ): FY GAAP EPS of -€1.37. Revenue of €8.98B (-10.3% Y/Y). More on Salzgitter AG Historical earnings data for Salzgitter AG Dividend scorecard for Salzgitter AG Financial information for Salzgitter AG
Salzgitter AG press release ( SZGPF ): FY GAAP EPS of -€1.37. Revenue of €8.98B (-10.3% Y/Y). More on Salzgitter AG Historical earnings data for Salzgitter AG Dividend scorecard for Salzgitter AG Financial information for Salzgitter AG
Abner Herrman & Brock LLC lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 404,306 shares of the computer hardware maker's stock after selling 11,533 shares during the period. NVIDIA comprises about 7.7% of Abner Herrman &...
Abner Herrman & Brock LLC lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 404,306 shares of the computer hardware maker's stock after selling 11,533 shares during the period. NVIDIA comprises about 7.7% of Abner Herrman & Brock LLC's holdings, making the stock its largest holding. Abner Herrman & Brock LLC's holdings in NVIDIA were worth $75,403,000 at the end of the most recent reporting period. Several other institutional investors have also recently modified their holdings of the company. Center for Financial Planning Inc. lifted its stake in shares of NVIDIA by 4.6% in the 2nd quarter. Center for Financial Planning Inc. now owns 8,429 shares of the computer hardware maker's stock valued at $1,332,000 after acquiring an additional 367 shares during the last quarter. PMG Family Office LLC bought a new position in NVIDIA during the 3rd quarter worth approximately $2,150,000. Atria Investments Inc increased its stake in NVIDIA by 3.2% in the 2nd quarter. Atria Investments Inc now owns 942,208 shares of the computer hardware maker's stock worth $148,859,000 after purchasing an additional 29,479 shares during the period. Svenska Handelsbanken AB publ purchased a new position in NVIDIA in the 3rd quarter worth approximately $37,316,000. Finally, Oak Ridge Investments LLC lifted its position in NVIDIA by 2.2% in the third quarter. Oak Ridge Investments LLC now owns 970,860 shares of the computer hardware maker's stock valued at $181,143,000 after purchasing an additional 20,559 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors. Get NVIDIA alerts: Sign Up Insider Buying and Selling at NVIDIA In other news, Director John Dabiri sold 3,004 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an av...
Ables Iannone Moore & Associates Inc. decreased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,526 shares of the computer hardware maker's stock after selling 3,247 shares during the period. NVIDIA comprises 12.1% of ...
Ables Iannone Moore & Associates Inc. decreased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,526 shares of the computer hardware maker's stock after selling 3,247 shares during the period. NVIDIA comprises 12.1% of Ables Iannone Moore & Associates Inc.'s portfolio, making the stock its 2nd largest holding. Ables Iannone Moore & Associates Inc.'s holdings in NVIDIA were worth $22,105,000 at the end of the most recent quarter. Several other large investors have also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. lifted its position in shares of NVIDIA by 4.6% in the second quarter. Center for Financial Planning Inc. now owns 8,429 shares of the computer hardware maker's stock valued at $1,332,000 after acquiring an additional 367 shares in the last quarter. PMG Family Office LLC purchased a new stake in NVIDIA during the 3rd quarter worth about $2,150,000. Atria Investments Inc increased its position in NVIDIA by 3.2% during the 2nd quarter. Atria Investments Inc now owns 942,208 shares of the computer hardware maker's stock worth $148,859,000 after purchasing an additional 29,479 shares in the last quarter. Svenska Handelsbanken AB publ acquired a new position in NVIDIA in the 3rd quarter valued at about $37,316,000. Finally, Oak Ridge Investments LLC raised its stake in NVIDIA by 2.2% in the 3rd quarter. Oak Ridge Investments LLC now owns 970,860 shares of the computer hardware maker's stock valued at $181,143,000 after purchasing an additional 20,559 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors. Get NVIDIA alerts: Sign Up Insider Buying and Selling at NVIDIA In related news, CFO Colette Kress sold 42,650 shares of NVIDIA stock in a transaction on Friday, March 20th. The stoc...