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Investors punish poorly performing hedge funds by pulling billions

10 mins ago DieselGasoil Comments Off on Investors punish poorly performing hedge funds by pulling billions
FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 8, 2019. REUTERS/Brendan McDermid BOSTON (Reuters) – Hedge funds suffered their worst quarterly outflows in two years when investors pulled $23 billion from the industry during the last three months of 2018, new data released on Read More

MGM hands board seat to activist hedge fund Corvex's Meister

15 hours ago DieselGasoil Comments Off on MGM hands board seat to activist hedge fund Corvex's Meister
FILE PHOTO: Keith Meister, Managing Partner and Chief Investment Officer of Corvex Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid/File Photo (Reuters) – MGM Resorts International (MGM.N) has struck a deal with hedge fund Corvex Management’s founder, Keith Meister, to give him a board seat, one Read More

Gulfport pledges share buybacks after hedge fund demand

18 hours ago DieselGasoil Comments Off on Gulfport pledges share buybacks after hedge fund demand
BOSTON (Reuters) – Natural gas and oil firm Gulfport Energy Corp said it would buy back $400 million of shares on Thursday, just hours after a public demand to that effect from hedge fund investor Firefly Value Partners. After the close of trading, Oklahoma City-based Gulfport announced plans to buy back $400 million worth of Read More

Lampert wins Sears bankruptcy auction with $5.2 billion bid

19 hours ago DieselGasoil Comments Off on Lampert wins Sears bankruptcy auction with $5.2 billion bid
(Reuters) – Sears Holdings Corp Chairman Eddie Lampert won a bankruptcy auction to buy the once iconic U.S. retailer after presenting an improved offer of $5.2 billion, Sears said on Thursday, but creditors quickly moved to oppose the deal. FILE PHOTO: A store closing sale sign is posted next to a Sears logo in New Read More

Trian to skip PPG board challenge after new commitments: sources

20 hours ago DieselGasoil Comments Off on Trian to skip PPG board challenge after new commitments: sources
(Reuters) – Trian Fund Management LP will not challenge PPG Industries Inc’s (PPG.N) board of directors at its 2019 shareholder meeting after the U.S. paints and coatings company met some of the activist hedge fund’s demands and announced new financial targets, people familiar with the matter said on Thursday. FILE PHOTO: Nelson Peltz founding partner Read More

Hedge fund pushes for share buyback at Gulfport to boost stock price

24 hours ago DieselGasoil Comments Off on Hedge fund pushes for share buyback at Gulfport to boost stock price
BOSTON (Reuters) – Firefly Value Partners said on Thursday that it wants Gulfport Energy Corp. to buy back $500 million worth of shares, an action the hedge fund argues could help double the stock price of the natural gas and oil company. The New York-based hedge fund, in a public letter, criticized how Oklahoma City-based Read More

Sears chairman Lampert wins bankruptcy auction for retailer with $5.2 billion bid

1 day ago DieselGasoil Comments Off on Sears chairman Lampert wins bankruptcy auction for retailer with $5.2 billion bid
FILE PHOTO: A store closing sale sign is posted next to a Sears logo in New Hyde Park, New York, U.S., October 10, 2018. REUTERS/Shannon Stapleton/File Photo (Reuters) – Sears Holdings Corp said on Thursday its chairman Eddie Lampert won a bankruptcy auction for the U.S. department store chain with an improved takeover bid of Read More

QEP Resources said to work with Evercore on sale process

2 days ago DieselGasoil Comments Off on QEP Resources said to work with Evercore on sale process
By Kiel Porter and Scott Deveau on 1/16/2019 Photo: Pump jack in San Andreas, Permian Basin. NEW YORK (Bloomberg) — QEP Resources Inc. — the energy explorer Elliott Management Corp. proposed to buy last week — is working with Evercore Inc. to explore a sale, according to people familiar with the matter. Its shares rose Read More

Oil markets could see deficit in 2019

2 days ago DieselGasoil Comments Off on Oil markets could see deficit in 2019
The OPEC+ cuts and slowing shale growth are likely to tip the scales in oil markets, and among others, Bank of America now sees a small deficit later this year. The oil supply surplus is “starting to reverse,” according to a new report from Bank of America Merrill Lynch. The investment bank noted that oil Read More