(Reuters) – Shares of CGI Group Inc (GIBa.TO: Quote, Profile, Research, Stock Buzz) (GIB.N: Quote, Profile, Research, Stock Buzz), the parent of CGI Federal – the main contractor behind the glitch-plagued Healthcare.gov – slid on Wednesday after prominent short-seller Jim Chanos placed a major short position, citing among various reasons its “PR mess” with the rollout of the Affordable Care Act Exchanges.
CGI Group’s U.S.-listed stock dropped as much as 5.9 percent after Newsweek first reported early Wednesday that Chanos counts the stock among his “largest short positions.” The stock was down 3.8 percent at $34.81 in afternoon trading.
Nov 18 (Reuters) – Activist investor Carl Icahn on Monday
said there was a chance the stock market could suffer a big
decline, saying valuations are rich and earnings at many
companies are fueled more by low borrowing costs than
management’s efforts to boost results.
Unnerved by Icahn’s prognosis, investors pushed stocks
lower. The S&P 500, which was trading near unchanged before
Icahn spoke, closed down 0.4 percent.
(Reuters) – Activist investor Carl Icahn said on Monday he is “very cautious” on the stock market, saying he could see a “big drop” because earnings at many companies are fueled more by low borrowing costs than management’s efforts to boost results.
Unnerved by the billionaire investor’s prognosis, investors pushed stocks lower. The S&P 500, which was trading near unchanged before Icahn spoke, was down 0.4 percent.
(Reuters) – A few days after the Red Sox won the baseball World Series, Loomis Sayles’ Dan Fuss was in New York, and the legendary Boston-based money manager couldn’t help but gloat a bit at the expense of Beantowns’s arch rivals the New York Yankees.
“The Red Sox do tend to beat the Yankees,” Fuss, 80, quipped.
Fuss, as it turns out, has many other things to gloat about these days. His $21.9 billion Loomis Sayles Bond fund LSBDX.O is the top-performing bond fund since its inception in May 1991. Even during this year’s rocky bond markets, the fund has outperformed 86 percent of its peers.
Nov 15 (Reuters) – Activist investor Bill Ackman’s Pershing
Square hedge fund has invested half a billion dollars to acquire
stakes of nearly 10 percent each in Freddie Mac and
Fannie Mae, the latest big investor this week to buy
into the mortgage finance companies.
Shares of both companies surged on Friday, when Pershing
said in regulatory filings it has a 9.77 percent stake in common
shares of mortgage insurer Freddie Mac and a 9.98 percent stake
in Fannie Mae.
(Reuters) – Jeffrey Gundlach, co-founder of DoubleLine Capital, said the U.S. stock market is the “only game in town” as the Dow and the S&P 500 closed at record highs on Wednesday, though he would be hesitant to add new money because “I don’t like buying high.”
Gundlach is best known as the new King of Bonds, but he has made a series of prescient calls on the global equity markets.
NEW YORK, Oct 31 (Reuters) – Bill Gross, manager of the
world’s largest bond fund, urged fellow members of the
“privileged 1 percent,” earning the highest incomes, to support
higher U.S. taxes on carried interest and capital gains to help
Gross, co-founder and co-chief investment officer of Pacific
Investment Management Co., said in his latest investment outlook
letter on Thursday that the super wealthy “should be paddling
right alongside and willing to support higher taxes on carried
interest, and certainly capital gains readjusted to existing
marginal income tax rates.”
LONDON/NEW YORK, Oct 30 (Reuters) – Pimco, which runs the
world’s largest bond fund under Bill Gross, has tapped Virginie
Maisonneuve as global head of equities, succeeding Neel
Kashkari, who left the firm earlier this year for a possible run
for public office in California.
She joins Pimco from Schroders Plc where she most recently
served as head of global and international equities and will be
based in Pimco’s London office, Pimco said in a news release on
Wednesday. Her official start date is expected to be in January
(Reuters) – Bill Gross, the co-chief investment officer at bond giant Pimco, lambasted billionaire investor Carl Icahn on Thursday for his involvement in Apple Inc’s strategy, but he failed to elicit an equally biting response from the veteran activist.
Gross said on Twitter: “Icahn should leave #Apple alone & spend more time like Bill Gates. If #Icahn’s so smart, use it to help people not yourself.”
Oct 24 (Reuters) – Billionaire investor Carl Icahn, in a
public letter to Apple Inc. Chief Executive Tim Cook on
Thursday, urged Apple to start an immediate tender offer of
The letter, issued in conjunction with Icahn’s new website
“Shareholders Square Table,” comes after Icahn urged Cook this
summer to use Apple’s $150 billion in surplus cash to buy back