The seal of the U.S. Justice Department is seen on the podium in the Department’s headquarters briefing room.Kevin Lamarque | ReutersTwo men have been indicted in New York on federal criminal charges in connection with a water vending machine Ponzi scheme that allegedly swindled investors out of more than $200 million, the Department of Justice said Thursday.The two men were also hit by the Securities and Exchange Commission with civil charges of violating antifraud provisions of the federal securities laws in connection the same scheme.Ryan Wear, 49, of Everett, Washington, is accused of “raising more than $200 million from investors…
Author: usaeverydaylife
Jim Cramer covered each holding in the Investing Club’s portfolio during the August Monthly Meeting on Thursday. He went over five stocks new investors should consider buying — and when to sell others – as the S & P 500 trades near record highs. Apple: This stock has had a big rally following the company’s announcement last week of an additional $100 billion investment in U.S. manufacturing. It just goes to show: Don’t give up on Apple. The next major test will come if a U.S. judge in Alphabet’s antitrust case ends its search exclusivity deal with the iPhone maker.…
Philippe Laffont’s Coatue Management unveiled a new position in Oracle, and doubled down on key artificial intelligence beneficiaries Nvidia and Microsoft, as the tech rally came back with a fury in the second quarter. Fund founder Laffont — known as one of the “Tiger Cub” fund managers that worked under the late investor Julian Robertson — disclosed a stake in enterprise software company Oracle that amounts to a more than $843.3 million holding for the three months ending June, according to the firm’s latest regulatory filing. Oracle outperformed in the second quarter, surging more than 56% on the strength of…
Daniel Sundheim’s D1 Capital has opened new positions in a major homebuilder and some industrial stocks during the second quarter. According to securities filings, the hedge fund added a position in D.R. Horton valued at $198.5 million. The fund also took up positions in key industrial stocks like Flowserve and Louisiana-Pacific worth $88.3 million and $155.8 million, respectively. Additionally, D1 began a position in global life sciences and diagnostics conglomerate Danaher worth $32.1 million. Sundheim’s move comes as U.S. homebuilders have been cutting prices at the highest rate in three years as they continue to face a weakening in demand…
Lip-Bu Tan, chief executive officer of Intel Corp., departs following a meeting at the White House in Washington, DC, US, on Monday, Aug. 11, 2025. Alex Wroblewski | Bloomberg | Getty ImagesIntel stock rose 7% in trading on Thursday after Bloomberg reported that the Trump administration is in talks with the chipmaker to have the U.S. government take a stake in the embattled company.Intel is the only U.S. company with the capability to manufacture the fastest chips on U.S. shores, although rivals including TSMC and Samsung also have U.S. factories. President Trump has called for more chips and high technology…
David Einhorn’s Greenlight Capital shed almost all of its Peloton shares after owning the exercise bike startup for a year, according to a new 13F filing. His hedge fund reduced exposure to Peloton by more than 96% to a stake worth merely $1.2 million at the end of June, the filing showed. The star manager first invested in the tech name in the second quarter of 2024. He even pitched the stock at the Robin Hood Investors Conference while riding a Peloton bike on stage, saying shares were “significantly undervalued.” Earlier this month, the company posted a surprise profit for its fiscal fourth…
Cisco Systems says it is not using artificial intelligence to reduce headcount — a stark contrast to many of its Big Tech peers. “I don’t want to get rid of a bunch of people right now,” Cisco CEO Chuck Robbins told CNBC on Thursday after being asked by Jim Cramer about the potential savings offered by agentic AI. Even more so in the case of engineers, Robbins added, “I just want our engineers that we have today to innovate faster and be more productive. That gives us a competitive advantage.” Agentic AI refers to digital systems that can bring human-like…
The John Deere logo is displayed as attendees view a 5105M utility tractor at the Deere & Co. booth during the World Ag Expo at the International Agri-Center in Tulare, California on February 11, 2025.Patrick T. Fallon | AFP | Getty ImagesJohn Deere is warning that tariff costs for the agricultural machinery company could reach a total of $600 million for the fiscal 2025 year.The company released its fiscal third-quarter earnings report Thursday, beating on the top and bottom lines but posting significant year-over-year decreases in net income and sales.The stock sank roughly 7% in midday trading.The company noted that…
Baupost Group’s Seth Klarman picked up several beaten-down stocks last quarter, while increasing its big stake in Google parent Alphabet to take advantage of the rebound in technology. The widely-followed hedge fund manager took a new, $154 million stake in fintech services provider Fiserv , according to the latest regulatory filing. Fiserv recently nosedived after cutting its forecast for annual revenue growth, bringing the stock’s six-month loss to 42%. Baupost also added a $51 million bet on packaging firm Amcor Plc and a $24 million stake in Brazilian payments company PagSeguro Digital in the second quarter. The Boston-based hedge fund…
Target has added new brands to its beauty department. At a growing number of stores, it also has mini Ulta Beauty shops with prestige brands.Melissa Repko | CNBCUlta Beauty and Target said Thursday that they have decided to end a deal that opened makeup and beauty shops in hundreds of Target’s stores.Shares of Target fell about 2% in early trading, while Ulta’s stock slid about 1%.In a news release, the companies said the partnership — which also added some of Ulta’s merchandise to Target’s website — will end in August 2026. Target had added more than 600 Ulta Beauty shops…
