Author: News Room

Bill Ackman is aiming to take Pershing Square public as soon as next year, the WSJ reports.Ackman aims to secure funding by first selling a stake in his firm, the Journal reported.It would be an unusual move for a hedge fund. Billionaire Bill Ackman is planning to take his investment firm Pershing Square public, according to a new report in The Wall Street Journal.But first, Ackman intends to drum up some funding by selling a stake in his firm to investors in a deal that’s expected to close very soon, people familiar with the matter told the WSJ. This story…

By Diego Oré MEXICO CITY (Reuters) – When Claudia Sheinbaum – the frontrunner to become Mexico’s next president – was just six years old, her parents were active participants in protests during one of the darkest periods of the country’s modern history. It was 1968, the Institutional Revolutionary Party had governed Mexico with an iron fist for decades and the country was swept by large demonstrations pressing for democratic change. In one horrific incident, as many as 400 students at a protest were killed by soldiers and paramilitary forces. The tragedy only galvanized her parents and Sheinbaum grew up in…

Ulta Beauty, Inc. (NASDAQ:) reported a 3.5% increase in net sales reaching $2.7 billion in the first quarter of 2024, with comparable sales growing by 1.6%. Despite a challenging environment, the company showed resilience with an operating profit of 14.7% of sales and a diluted earnings per share (EPS) of $6.47. Adjusting expectations for the year, Ulta Beauty aims to maintain its market leadership through enhanced strategies and expects the beauty category to grow in the mid-single-digit range.Key TakeawaysUlta Beauty’s net sales rose to $2.7 billion, a 3.5% increase, with comparable sales up by 1.6%.Operating profit reached 14.7% of sales,…

The Affordable Connectivity Program, which helped low-income Americans get online, is no more. On Friday, the US government announced the final closure of the broadly popular federal program, which has helped tens of millions of households afford internet service, after Republicans in Congress ignored calls by consumer advocates and Democratic lawmakers to approve more funding this spring. The program’s lapse threatens to throw nearly 60 million Americans into financial distress, CNN has reported. The program officially ends on June 1, said the Federal Communications Commission, which administered the Affordable Connectivity Program (ACP) to approximately 1 in 5 households across the country and on…

EUR/USD recovers strongly as Eurozone inflation turns out hotter-than-expected. Eurozone annual headline and core HICP rose strongly by 2.6% and 2.9%, respectively US monthly core PCE inflation for April grew at a slower pace of 0.2%. EUR/USD jumps to 1.0880 in Friday’s New York session. The major currency pair strengthens on hot annual preliminary Eurozone Harmonized Index of Consumer Prices (HICP) for May and a decline in monthly United States (US) core Personal Consumption Expenditure Price Index (PCE) data for April. The Eurostat reported that annual preliminary Eurozone Harmonized Index of Consumer Prices (HICP) data grew at a faster pace than expected in May. Headline HICP rose…

Polygon (MATIC) price fell to a new weekly-low of $0.69 on Friday May 31, on-chain data analysis reveals the pivotal role that whale investors have played in the ongoing downtrend. MATIC price is down 9% Since Ethereum ETF Approval Founded in 2018, Polygon (MATIC) was tipped to become the quintessential “Ethereum killer,” offering superior scalability and lower fees compared to the ETH network. However, recent updates on the Ethereum network in the last few years, including the Proof-of-Stake transition, have lowered fees on the beacon chain. These updates and the proliferation of new Layer-2 networks like Base and Arbitron (ARB)…

One of the messages that Warren Buffett and Berkshire Hathaway’s top insurance executive, Ajit Jain, sent to investors during the company’s annual shareholder meeting in Omaha last month was that cyber insurance, while currently profitable, still has too many unknowns and risks for Berkshire, a huge player in the insurance market, to be fully comfortable underwriting.Cyber insurance has become “a very fashionable product,” Jain said at the annual meeting. And it’s been a money maker for insurers, at least to date. He described current profitability as “fairly high” — at least 20% of the total premium ending up in the…

Check out the companies making headlines in midday trading: Dell Technologies — The software stock plunged 22% after executives cautioned that its gross margins could face more pressure in 2025. Lionsgate Studios — Shares rose 1% after Citi initiated coverage of the film studio at a buy rating. The bank cited Lionsgate’s decision to spin off its Starz business as a potential catalyst for further margin expansion. Zscaler — Shares added 5.2% after the cloud security company posted a fiscal third-quarter earnings and revenue beat. Zscaler reported adjusted earnings of 88 cents per share on revenue of $553 million, while…

Daniel Dale debunks Trump’s repeated false claims in post-conviction remarks CNN’s Daniel Dale fact-checks Donald Trump’s speech a day after jurors found him guilty of 34 felony counts for falsifying business documents. Dale clarifies Trump’s claims about Biden’s involvement in the case, his inability to use an election expert during the trial, and New York crime statistics.

Marching into this weekend’s 2024 Xfinity U.S. Gymnastics Championship, only two of the field of 40 senior elite women gymnasts will automatically qualify to the Olympic Trials on June 27-30. In addition to the top two finishers, at least 10 others get an invite from USA Gymnastics. Read on for predictions for those 12 spots. Gabby Douglas is out of Paris Games The field of potential athletes to advance to the Olympic Trials was reduced by one earlier this week when 2012 Olympic All-Around Champion Gabby Douglas withdrew, citing an ankle injury. She was launching a comeback you don’t see…