Month: January 2021

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Melvin Capital, which bet against GameStop, lost more than 50% in January, report says

A GameStop Corp. store in Rome, Italy, on Thursday, Jan. 28, 2021. Alesia Pierdomenico | Bloomberg | Getty Images Hedge fund Melvin Capital Management lost 53% in January amid a record rally in GameStop and other stocks the fund was betting against, according to The Wall Street Journal citing people familiar with the matter. The …

Melvin Capital, which bet against GameStop, lost more than 50% in January, report says Read More »

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Americans are flocking to the suburbs — here’s how much you need to earn to buy a house

Home ownership has long been considered a staple of the American dream. During the pandemic, it has also become a dividing line between the haves and have-nots. As the coronavirus outbreak and rise of remote work pushed Americans to move from the city to the suburbs, those who could afford a single-family home have been …

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Airlines push back on potential Covid testing for domestic flights

A man receives a nasal swab COVID-19 test at Tom Bradley International Terminal at Los Angeles International Airport (LAX) amid a coronavirus surge in Southern California on December 22, 2020 in Los Angeles, California. Mario Tama | Getty Images The U.S. on Tuesday started requiring travelers to show negative Covid-19 tests before flying to the …

Airlines push back on potential Covid testing for domestic flights Read More »

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What pro traders, the Reddit crowd and regulators may do next in the GameStop short squeeze saga

The Reddit forum WallStreetBets logo on a smartphone arranged in Sydney, Australia, on Thursday, Jan. 28, 2021. Brent Lewin | Bloomberg | Getty Images What’s next for the Reddit crowd? Wall Street seems unsure.  The “blow-out-the-short-sellers game” is showing signs of exhaustion, but the ramifications are only just being felt. What traders can’t agree on is …

What pro traders, the Reddit crowd and regulators may do next in the GameStop short squeeze saga Read More »

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‘You’ve already won’ — Cramer tells investors to take home run and sell GameStop

Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer on Friday complimented the retail traders who helped spark the massive run up in GameStop shares, but advised they take their profits now. “Take the home run. Don’t go for the grand slam. Take the home run. You’ve already won. You’ve won the game. You’re done,” …

‘You’ve already won’ — Cramer tells investors to take home run and sell GameStop Read More »

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Don’t bank on that refund yet. April tax season may come as a big surprise

Juanmonino | E+ | Getty Images If you are counting on a tax refund, you could be sorely disappointed this filing season. A new W-4 form and a pandemic-dominated 2020 may have millions of Americans receiving smaller refunds, or even owing money to the government, this year. “I’ve already seen people upset that they owe …

Don’t bank on that refund yet. April tax season may come as a big surprise Read More »

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Disciplinary actions against doctors have plunged during the pandemic, but that doesn’t mean they are behaving

The American health-care system may be buckling under the weight of the coronavirus pandemic, but one number is inexplicably falling. Disciplinary actions against doctors were down sharply in the first nine months of 2020, with 4,393 adverse action reports recorded against physicians in the National Practitioner Data Bank, a federal registry of health care professionals …

Disciplinary actions against doctors have plunged during the pandemic, but that doesn’t mean they are behaving Read More »

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GameStop, Reddit and Robinhood: A full recap of the historic retail trading mania on Wall Street

GameStop mania took Wall Street by storm, thanks to a legion of retail traders glued to the WallStreetBets message board on Reddit. Shares of the struggling brick-and-mortar video game retailer skyrocketed 400% in the past week, closing out January with a whopping 1,625% gain. A band of amateur traders in WallStreetBets forum, whose members have …

GameStop, Reddit and Robinhood: A full recap of the historic retail trading mania on Wall Street Read More »

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For Neiman, Saks, Nordstrom the retail battle is getting more personal

As department stores like Saks Fifth Avenue try to get shoppers back into stores after the Covid-19 pandemic shutdowns, the shift to online sales may continue to accelerate thanks to personalization technology. Richard Lautens | Toronto Star | Getty Images Personal shopping services once reserved for the wealthiest consumers are becoming increasingly popular amid the …

For Neiman, Saks, Nordstrom the retail battle is getting more personal Read More »

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Kevin O’Leary cheers GameStop frenzy despite risk as ‘real world’ lesson for novice investors

Kevin O’Leary on Friday defended the right of retail investors to continue trading shares of GameStop, AMC Entertainment and other stocks that have been hyped online. In an interview on CNBC’s “Squawk Box,” the O’Shares ETFs co-founder said investors should be allowed to speculate freely — regardless of whether they end up losing their own …

Kevin O’Leary cheers GameStop frenzy despite risk as ‘real world’ lesson for novice investors Read More »

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Don’t wait for another stimulus check to fix your finances: Take this 5-day money challenge now

Stimulus checks printed at the Philadelphia Financial Center in Philadelphia. Jeff Fusco | Getty Images Many Americans are waiting for their second stimulus check and others want to know when they could possibly get a third payment.  The $1.9 trillion Covid relief plan pushed by President Joe Biden includes a third round of  $1,400 stimulus …

Don’t wait for another stimulus check to fix your finances: Take this 5-day money challenge now Read More »

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San Francisco businesses teeter on the brink after a year of lockdowns, fires and other hurdles

A pedestrian wearing a protective mask crosses California Street in San Francisco, California, U.S., on Tuesday, Dec. 29, 2020. David Paul Morris | Bloomberg | Getty Images In late October, when San Francisco moved into California’s least-restrictive Covid-19 “yellow tier” — indicating minimal spread of the coronavirus — Lauren Crabbe was hopeful. Crabbe, the owner …

San Francisco businesses teeter on the brink after a year of lockdowns, fires and other hurdles Read More »

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New York City restaurants could reopen indoor dining starting on Valentine’s Day, Cuomo says

A sign welcomes customers to indoor dining at a restaurant in Brooklyn on December 01, 2020 in New York City. Spencer Platt | Getty Images New York City restaurants will be allowed to reopen for indoor dining at limited capacity beginning on Feb. 14 as long as Covid-19 cases continue to remain stable, Gov. Andrew …

New York City restaurants could reopen indoor dining starting on Valentine’s Day, Cuomo says Read More »

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Hedge fund billionaire Steve Cohen leaves Twitter after family receives threats amid GameStop backlash

Steven A. Cohen Scott Eells | Bloomberg | Getty Images Steve Cohen, the founder of hedge fund Point72 and owner of the New York Mets, has deactivated his Twitter account after his family received threats this week amid the GameStop trading frenzy. “I’ve really enjoyed the back and forth with Mets fans on Twitter which …

Hedge fund billionaire Steve Cohen leaves Twitter after family receives threats amid GameStop backlash Read More »

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A new breed of activist takes a board seat at Office Depot’s parent company

An employee works inside an Office Depot Inc. Susana Gonzalez | Bloomberg | Getty Images Company: ODP Corp. (ODP) ODP Corp. is a provider of business services, products and digital workplace technology solutions to small and medium businesses. The company has a fully integrated business-to-business distribution platform of approximately 1,300 stores and online presence. The …

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Covid, payday loans, student debt — here are the issues Biden’s consumer bureau may tackle

The headquarters of the Consumer Financial Protection Bureau in Washington, D.C. JHVEPhoto | iStock Editorial | Getty Images The Consumer Financial Protection Bureau is expected to become a more aggressive consumer watchdog under the Biden administration and while the coronavirus pandemic hurls financial challenges at millions of Americans. Consumer advocates say the bureau was almost …

Covid, payday loans, student debt — here are the issues Biden’s consumer bureau may tackle Read More »

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United Airlines warns thousands of employees that their jobs are again at risk, labor unions seek more government aid

A United Airlines Boeing 737-800 and United Airlines A320 Airbus on seen approach to San Francisco International Airport, San Francisco. Louis Nastro | Reuters United Airlines said the jobs of roughly 14,000 employees are at risk when a second round of federal aid expires this spring, the latest sign of how the industry is struggling …

United Airlines warns thousands of employees that their jobs are again at risk, labor unions seek more government aid Read More »