Month: August 2022

Investors should enjoy this recent market rally while it lasts, said Morgan Stanley’s Michael Wilson. The Wall Street firm’s chief U.S. equity strategist believes the recent rally, which follows the Federal Reserve’s aggressive action to reduce inflation, will not last long as corporate earnings are on track to begin to deteriorate. “While the bond market is starting to assume they have inflation under control, it may come at a higher cost than normal, potentially a recession while they are still adjusting, which may leave a very small window for stocks to perform before earnings surprise the market. downside,” Wilson said…

TRIESENBERG, Liechtenstein–(BUSINESS THREAD)–Lysando AG, the market leader in the field of antimicrobial proteins, is pleased to announce that Wilhelm von Haller has joined the team as CFO this March. Baron von Haller is an expert in corporate finance, having been an apprentice for over 30 years as a senior executive in various positions at the Deutsche Bank Group. “Wilhelm von Haller brings exactly the kind of experience in global finance and business operations that we need now. In addition, as an advisor he has had the opportunity to learn about Artilysin® technology for many years. Together, these are important factors…

Pinterest shares rose on better-than-expected user numbers, even as earnings and revenue missed and the company gave weak guidance for the third quarter. Activist investor Elliott Management confirmed separately who is Pinterest’s lead investor and said he has “conviction in the opportunity for value creation” in the company. Here’s how the company did it. Earnings: 11 adjusted cents per share vs. 18 cents per share expected, according to Refinitiv.income: $666 million vs. $667 million expected, according to Refinitiv. Pinterest said Global monthly active users decreased 5% from the previous year to 433 million. While that kind of drop is alarming…

How employee stock purchase plans work Typically offered to all employees, ESPPs can let you buy company stock at a discount of up to 15%, capped at $25,000 per year for tax-qualified plans. The plan collects after-tax contributions from each paycheck during an “offering period” and uses the funds to buy company stock on a specific date. “The gold standard for a plan will be a 15% discount with a lookback feature,” said Bruce Brumberg, editor-in-chief and co-founder of myStockOptions.com. A “review” provision bases the purchase price of shares on the value at the beginning or end of the offering…

GREENWICH, Conn.–(BUSINESS THREAD)–Interactive Brokers Group, Inc. (Nasdaq: IBKR), a global electronic broker-dealer, today reported its monthly Electronic Brokerage performance metrics for July. Brokerage highlights of the month include: 1.823 million daily average revenue transactions (DART)1, down 23% year-over-year and down 10% month-on-month. End customer capital is $314.4 billion, down 10% from last year and up 7% from last month. End customer margin loan balances of $42.2 billion, down 12% year-over-year and down 1% month-over-month. End customer credit balances of $94.3 billion, including $2.1 billion in junk insured bank deposits2, up 15% year-over-year and up 2% month-on-month. 1.95 million customer accounts,…

SAN DIEGO–(BUSINESS THREAD)–Arcturus Therapeutics Holdings Inc. (the “Company”, “Arcturus”, Nasdaq: ARCT), a global late-stage clinical messenger RNA drug company focused on the development of vaccines against infectious diseases and significant opportunities in rare liver and airways. diseases, announced today that it will release its financial results for the quarter ended June 30, 2022 after the market closes on Tuesday, August 9 and will also host a conference call and webcast at 4:30 p.m. eastern summer of August 9, 2022. . Tuesday, August 9, 2022 at 4:30 PM EDT National: 1-800-263-0877 International: 1-323-794-2094 Conference ID: 8017918 Webcast: link About Arcturus Therapeutics…

A pair of investment bankers are leaving Centerview Partners to start a firm focused on advising technology companies on mergers and acquisitions. The men, veteran deal makers David Handler and David Neequaye, have secured the backing of two well-connected Wall Street firms, Consello and 25madison, according to people familiar with the matter. Both will have minority stakes in the new M&A and strategic advisory boutique, which is to focus on technology, media and telecommunications companies and is called Tidal Partners. Advisory on mergers can be a very profitable business. Centerview, which has become one of the most successful independent companies…

Companies in the city have struggled to increase the number of black professionals in their ranks, despite ambitious promises after the killing of George Floyd in 2020. Change has been slow. What little UK data is available shows that there is a shortage of black employees. At Barclays, 3.5% of its UK workforce are black, at HSBC, just 2.6%, a figure that drops to 1% at the top. Cecil Peters, JPMorgan’s head of diversity and inclusion in Europe, the Middle East and Africa, told Financial News that starting from the bottom is key: “If we’re just going to attract more…