Dan Loeb’s Third Point poured tens of millions of dollars into Flutter Entertainment and Meta Platforms in the fourth quarter of last year, regulatory fillings show. The hedge fund manager and famous investor bought nearly $91 million worth of Flutter shares, equating to an increase of more than 70% to his position, according to Third Point’s 13-F filing with the Securities and Exchange Commission. With that move, the sports betting stock was now the fund’s 10th largest holding at almost $225 million, per InsiderScore. Loeb’s bet paid off, with shares jumping almost 9% in the fourth quarter. The stock has…
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Vice President JD Vance urged European leaders on Friday to end the isolation of far-right parties across the continent, an extraordinary embrace of a once-fringe political movement with which the Trump administration shares a common approach on migration, identity and internet speech.The address stunned and silenced hundreds of attendees at the Munich Security Conference, a forum where top-level politicians, diplomats and analysts had gathered expecting to hear President Trump’s plans for ending the war in Ukraine and Europe’s defense against a rising Russian threat.The vice president singled out his German hosts, telling them to drop their objections to working with…
Billionaire investor Stanley Druckenmiller opened several new stock positions during the fourth quarter, including a trio of airline stocks. Securities filings released Friday showed that Druckenmiller’s Duquesne Family Office added positions American Airlines , Delta Air Lines and United Airlines during the final three months of 2024. United was the biggest of the three positions at $101.4 million. Duquesne also reported having call options on all three travel stocks, giving the fund another way to benefit if the stocks rise. Outside of airlines, Duquesne bought stakes in tech giant Amazon and entertainment stock Warner Brothers Discovery . Those positions were…
The final trades of the day with the Fast Money traders. Source link
Sam Altman, left, and Elon Musk.Muhammed Selim Korkutata | Anadolu | Getty ImagesOpenAI has officially rejected Elon Musk’s proposal to buy the artificial intelligence startup’s nonprofit parent for $97.4 billion.In a short letter to Musk’s lawyer Friday, OpenAI’s attorney, William Savitt, said the OpenAI board had reviewed the proposal and determined that the billionaire’s “much-publicized ‘bid’ is in fact not a bid at all.”The “proposal, even as first presented, is not in the best interest of OAI’s mission and is rejected,” Savitt wrote to Marc Toberoff, who represents Musk. “The decision of the OAI board on this matter is unanimous.”OpenAI…
The New York Jets made it official, announcing that they’re breaking up with Aaron Rodgers after two disappointing seasons amid yet another organizational reset.Rodgers recently met with new coach Aaron Glenn and general manager Darren Mougey to discuss the Jets’ plans, and a statement released by the team Thursday pronounced New York was going in a different direction at quarterback.It’s unclear what that other direction is. Tyrod Taylor has a year remaining on his contract. Jordan Travis, a 2024 fifth-round pick, has yet to practice with the Jets while recovering from an ankle injury. The 2025 free-agent quarterback market isn’t…
Pints of Ben & Jerry’s ice cream are seen on a shelf at Ideal Fresh Market of Church Ave in the Flatbush neighborhood of Brooklyn in New York City on March 19, 2024.Michael M. Santiago | Getty Images News | Getty ImagesBen & Jerry’s accused its parent Unilever of demanding its silence toward President Donald Trump, as it prepares to spin off the ice cream brand later this year.In a Thursday night filing in Manhattan federal court, Ben & Jerry’s said Unilever ice cream chief Peter ter Kulve earlier in the day unilaterally banned it from “issuing any posts criticizing…
Warren Buffett’s Berkshire Hathaway continued selling its big Bank of America stake in the fourth quarter, while the conglomerate added a new holding in Constellation Brands . Berkshire offloaded more than 117,000 of Bank of America shares last quarter, owning a 8.9% stake worth just below $30 billion at the end of 2024, according to a new regulatory filing. Buffett started a selling spree in July after his view on the industry turned pessimistic following 2023’s banking crisis. Some analysts have speculated that he is selling down shares of the bank after the lender’s stellar fourth-quarter earnings report did little to…
Michael Burry, best known for calling the subprime mortgage crisis, reshuffled his bets on Chinese internet stocks last quarter, trimming holdings in Alibaba and JD.com and adding a new stake in PDD . Burry’s hedge fund, Scion Asset Management, cut its stake in Alibaba by 25% in the fourth quarter, according to a new filing. The Jack Ma-founded company was still the biggest holding at the end of 2024, worth $12.7 million. Scion also reduced its JD.com stake by 40% to a bet worth $10.4 million at the end of December. The famed investor added a $7.3 million bet on PDD, operator…
It’s the NBA All-Star break, and when teams resume play, we’ll see a two-month sprint toward the regular season’s finish line.By now, we have an idea of what each team is and isn’t and whether the remaining 25-30 games should be focused on title contention, short-term progress or the long-term future.What better time for The Athletic NBA staff to break out our red pens and hand out some grades?Atlantic DivisionBoston Celtics: B-Have the Celtics lived up to last season’s dominance? Not quite. It took them a month and a half to rediscover how to play together once Kristaps Porziņģis returned…
