Sales & Marketing news

• Money is pouring into the world's hottest investment product at nearly a record-setting pace (SPY, SPX)

  29-04-2017 16:29 via feedproxy.google.com
  
  Investing the US has rarely been this popular, and exchange-traded funds have been the investment vehicle of choice.
  Traders poured $23.56 billion into US funds and ETFs during the week ended Wednesday, less than $1.5 billion shy of the all-time record seen in March 2015, according to data compiled by a group of Bank of America Merrill Lynch analysts led by Yunyi Zhang.
  That marked a large step up from the prior week, which saw inflows of $1.13 billion, the data show.
  Much o
  
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• David Einhorn is wrong about the Tesla bubble — here's why (TSLA)

  29-04-2017 16:17 via feedproxy.google.com
  
  Greenlight Capital's David Einhorn has been getting clobbered on his Tesla short position, just like every other hedge funder who has been somewhat sensibly betting against CEO Elon Musk's surging stock price and $50-billion market cap.
  He says there's a Tesla bubble, and even Musk would probably admit that he's right. In a letter to investors dated April 25, Einhorn lumped Tesla in with other go-go growth stocks and wrote, "In due time, we expect these bubbles to pop."
  Bubbles always pop, but t
  
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• A Wall Street boutique is crushing it, and now it's ready to go out and make some big hires (MC)

  29-04-2017 15:59 via feedproxy.google.com
  
  Moelis & Company, a boutique investment bank, just announced its second record quarter in a row, and is now looking for top-tier talent to add to its roster.
  The firm beat analysts' first quarter expectations by earning $173 million in revenue, thanks in part to a focus on middle market activity, something the company believes separates it from competitors.
  Record profits have allowed Moelis & Co to pursue outside talent, including poaching a major tech hire from
  
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• Despite setbacks and job cuts, Google is promising a big update in its race against Amazon’s delivery drones (GOOG, GOOGL)

  29-04-2017 15:09 via feedproxy.google.com
  
  Project Wing, the delivery drone initiative under development at Google-parent Alphabet, felt another jolt of turbulence this week as more members of the team were officially cut loose.
  But even as sources inside the high-profile group report ongoing challenges, the drone unit is preparing an important update to demonstrate progress that's expected in a matter of weeks.
  Business Insider has heard from multiple people that a group of employees left the team this week. And
  
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• A $16 billion investor is making a huge bet on Wall Street's hottest business (KKR)

  29-04-2017 14:57 via feedproxy.google.com
  
  NEW YORK –ValueAct Capital, the $16 billion activist fund led by Jeff Ubben, has taken a 5% stake in private equity giant KKR.
  "The AuM at this company is on a huge ramp," Mason Morfit, who presented on behalf of ValueAct, said at 13D Monitor's Active-Passive Investor Summit in New York. "We strongly believe this thing is a 50 cent dollar," he added.
  Morfit said the move of active equity money to passive funds would be bullish for KKR. The trend is “very much in favor of th
  
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• An old stock market adage is broken

  29-04-2017 14:30 via feedproxy.google.com
  
  "Sell in May and go away" is an old saying that should probably be ignored.
  While it's true that stocks have historically done better from October through April compared to May through September, there's usually a lot more going on than the calendar. 
  Andrew Adams, a research associate at Raymond James wrote in a note on Wednesday:
  I have received no shortage of questions from people asking what they should do because of this statistical quirk, and my answer has largely been to ignore
  
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• Millennials owe a record amount of debt, and it could become a huge drag on the economy

  29-04-2017 14:23 via feedproxy.google.com
  
  US consumer debt is approaching a record 20% of GDP, and millennials owe most of it.
  Millennials — 21 to 34-year-olds — hold an estimated $1.1 trillion of the country's $3.6 trillion in consumer debt, according to UBS, as rising student and auto loans outweigh a drop in mortgages.
  And all that rising debt is coming with rising default risks. A UBS evidence lab survey found that 52% of people worried about defaulting on any loan over the next 12 months were in the 21 to
  
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• A small Wall Street firm is set to make a killing on a $24 billion healthcare deal

  29-04-2017 13:28 via feedproxy.google.com
  
  Beckton Dickinson on Monday announced a $24 billion deal to acquire the medical technology company Bard, and a small Wall Street firm that has closed some major deals recently is involved.
  Perella Weinberg is acting as the lead financial adviser to BD on the deal, with Citi also serving as an adviser and providing fully committed financing. Goldman Sachs is serving as the lone financial adviser to Bard.
  Advisory fees for Perella Weinberg and Citi could total up to $50 million, while Goldman Sach
  
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• TRUMP'S FIRST 100 DAYS: Here's how they compare with Obama's, Bush's, and Clinton's

  29-04-2017 11:57 via feedproxy.google.com
  Franklin D. Roosevelt got more done in his first 100 days in office than any president before him or any since. He took office in the depths of the Great Depression, enacting a dizzying number of laws and signing executive orders to stabilize the economy with the New Deal.
  Roosevelt is the reason people focus on the first 100 days. When presidents take office, they have the most political capital to enact their agenda. Studies have found that it's the most productive time for legislative action
  
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• Warren Buffett's 1991 letter perfectly explains ESPN's troubles

  29-04-2017 11:03 via feedproxy.google.com
  
  On Wednesday, a brutal round of layoffs at ESPN resulted in roughly 100 employees being fired, including a number of high-profile on-air talent and reporters.
  The firings came after a long-term downtrend for ESPN's fortunes as a decline in subscribers and ratings have hit the company's bottom line.
  The so-called "Worldwide Leader in Sports" has been struggling to navigate its future in a world with streaming services, readily available sports highlights, and sky-high costs for rights f
  
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• Google is working with NASCAR to test new high-speed wireless technology (GOOG, GOOGL)

  29-04-2017 02:54 via feedproxy.google.com
  
  Google's wireless broadband team has a new target market: NASCAR racecars.
  The company is seeking permission from the FCC for an experimental radio license to test "the transmission of broadband data from racecars to transportable/fixed base stations located at racetrack facilities."
  It's all happening this summer at four events in NASCAR-loving locales like Tennessee, Michigan, South Carolina, and Virginia.
  The application, filed with the FCC on Friday, is highly redacted and provides
  
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• A big Cisco naysayer has reversed course and now believes the company is heading in the right direction (CSCO)

  29-04-2017 01:22 via feedproxy.google.com
  
  For years, Credit Suisse's Kulbinder Garcha has been raising red flags about Cisco and the growing softness in its main business, computer network equipment.
  But this week, he's done a complete 180 and become a Cisco believer.
  He upgraded the stock two levels from essentially a sell (an "underperform") to a buy ("outperform") and raised his target price to $40. Cisco has been trading at around $34 all month and the stock languished below $30 for many years.
  Garcha has been warning inve
  
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