By (Reuters) - President Donald Trump’s handling of the coronavirus outbreak early this year was “an incredible gift” for investors because it kept markets stable long enough for some to protect their portfolios, Axon Capital co-founder Dinakar Singh told investors this month.Trump has justified his public assurances that the virus will quickly go away by arguing he needs to be “a cheerleader” for the United States to avoid creating “havoc and shock.” The United States has the highest number of confirmed coronavirus infections and deaths in the world.“We simply never believed ‘what happens...…By (Reuters) - President Donald Trump’s handling of the coronavirus outbreak early this year was “an incredible gift” for investors because it kept markets stable long enough for some to protect their portfolios, Axon Capital co-founder Dinakar Singh told investors this month.Trump has justified his public assurances that the virus will quickly go away by arguing he needs to be “a cheerleader” for the United States to avoid creating “havoc and shock.” The United States has the highest number of confirmed coronavirus infections and deaths in the world.“We simply never believed ‘what happens...WW…

By ValueAct, which first began buying the stock in April 2019, grew the position in Nintendo, known for its gaming consoles and for having turned characters like Mario and Donkey Kong into international hits, during the stock market sell-off in February and March, according to the letter sent to its investors.Nintendo’s future is bright, ValueAct wrote in its letter, adding there is potential for growth both in the software business and room for the company to transform itself into a broader entertainment company.ValueAct has picked up about 2.6 million shares, or about a 2% stake, in...…By ValueAct, which first began buying the stock in April 2019, grew the position in Nintendo, known for its gaming consoles and for having turned characters like Mario and Donkey Kong into international hits, during the stock market sell-off in February and March, according to the letter sent to its investors.Nintendo’s future is bright, ValueAct wrote in its letter, adding there is potential for growth both in the software business and room for the company to transform itself into a broader entertainment company.ValueAct has picked up about 2.6 million shares, or about a 2% stake, in...WW…

Register now for FREE unlimited access to Reuters.comWASHINGTON, April 26 (Reuters) - Wealth advisers are counseling clients to max out their retirement accounts, park gains in tax-deferred opportunity zone funds and even sell some assets to avoid being clobbered by a potential U.S. capital gains tax hike.The White House will this week propose nearly doubling taxes on capital gains to 39.6% for people earning more than $1 million, Reuters and other media outlets reported, in what would be the highest tax rate on investment gains since the 1920s.Any changes will be hard-fought in Congress,...…Register now for FREE unlimited access to Reuters.comWASHINGTON, April 26 (Reuters) - Wealth advisers are counseling clients to max out their retirement accounts, park gains in tax-deferred opportunity zone funds and even sell some assets to avoid being clobbered by a potential U.S. capital gains tax hike.The White House will this week propose nearly doubling taxes on capital gains to 39.6% for people earning more than $1 million, Reuters and other media outlets reported, in what would be the highest tax rate on investment gains since the 1920s.Any changes will be hard-fought in Congress,...WW…

By Slideshow Twitter is one of the few U.S. technology companies headed, but not controlled, by one of its founders. It has given shareholders equal voting rights, making Dorsey, who owns only about 2% of the company, vulnerable to a challenge from an activist investor such as Elliott.Twitter shares fell last year when the company disclosed that its platform experienced glitches that hindered its ability to target ads and share data with partners. The San Francisco-based company’s reluctance to expand beyond its core platform has also left it with limited scale compared to its larger social...…By Slideshow Twitter is one of the few U.S. technology companies headed, but not controlled, by one of its founders. It has given shareholders equal voting rights, making Dorsey, who owns only about 2% of the company, vulnerable to a challenge from an activist investor such as Elliott.Twitter shares fell last year when the company disclosed that its platform experienced glitches that hindered its ability to target ads and share data with partners. The San Francisco-based company’s reluctance to expand beyond its core platform has also left it with limited scale compared to its larger social...WW…

By (Reuters) - Hestia Capital Partners LP managing director Kurt Wolf joined GameStop Corp’s board to make the U.S. video game retailer more valuable. Then it became too valuable for him to stay on.The hedge fund manager resigned his directorship this week because his investors fretted the bet on the company, which scored a paper gain of 3,500%, had become too large and risky, three people familiar with the matter said on Thursday.Giving up the board seat allows Wolf to sell GameStop shares for his investors without restrictions to meet redemption requests, the sources said.Hestia currently...…By (Reuters) - Hestia Capital Partners LP managing director Kurt Wolf joined GameStop Corp’s board to make the U.S. video game retailer more valuable. Then it became too valuable for him to stay on.The hedge fund manager resigned his directorship this week because his investors fretted the bet on the company, which scored a paper gain of 3,500%, had become too large and risky, three people familiar with the matter said on Thursday.Giving up the board seat allows Wolf to sell GameStop shares for his investors without restrictions to meet redemption requests, the sources said.Hestia currently...WW…

By (Reuters) - The chief executive officer of Tegna Inc on Tuesday apologized for having mistaken a Black executive, who this year became a candidate for the broadcast company’s board, for a hotel car valet in 2014.Adonis Hoffman, a lawyer, media expert and independent corporate director, withdrew his candidacy last Thursday, citing conflicts of interest and the incident seven years ago involving CEO Dave Lougee. ()Lougee, who was president of Tegna, then known as Gannett Co’s broadcasting unit, and Hoffman, who was serving as chief of staff for then-commissioner Mignon Clyburn of the...…By (Reuters) - The chief executive officer of Tegna Inc on Tuesday apologized for having mistaken a Black executive, who this year became a candidate for the broadcast company’s board, for a hotel car valet in 2014.Adonis Hoffman, a lawyer, media expert and independent corporate director, withdrew his candidacy last Thursday, citing conflicts of interest and the incident seven years ago involving CEO Dave Lougee. ()Lougee, who was president of Tegna, then known as Gannett Co’s broadcasting unit, and Hoffman, who was serving as chief of staff for then-commissioner Mignon Clyburn of the...WW…

By , , (Reuters) - U.S. video game retailer GameStop Corp decided it could not seize on the Reddit-fueled rally in its shares to sell hundreds of millions of dollars worth of stock because of regulatory restrictions, according to three people familiar with the matter.The Grapevine, Texas-based company found itself at the epicenter of an unprecedented trading frenzy last month, as amateur investors organized on social media sites such as Reddit to bet against Wall Street hedge funds that had shorted its shares.While many heavily shorted stocks, from movie theater operator AMC Entertainment...…By , , (Reuters) - U.S. video game retailer GameStop Corp decided it could not seize on the Reddit-fueled rally in its shares to sell hundreds of millions of dollars worth of stock because of regulatory restrictions, according to three people familiar with the matter.The Grapevine, Texas-based company found itself at the epicenter of an unprecedented trading frenzy last month, as amateur investors organized on social media sites such as Reddit to bet against Wall Street hedge funds that had shorted its shares.While many heavily shorted stocks, from movie theater operator AMC Entertainment...WW…

By , BOSTON/LONDON (Reuters) - Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop Corp and AMC Entertainment Holdings Inc is spreading to other assets.Slideshow Some of Wall Street’s largest hedge funds are still licking their wounds after retail traders sought to drive up the prices of stocks that were heavily bet against, resulting in large losses for major investors.Melvin Capital, a hedge fund at the center of the GameStop drama, lost 53% in January but received commitments for fresh...…By , BOSTON/LONDON (Reuters) - Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop Corp and AMC Entertainment Holdings Inc is spreading to other assets.Slideshow Some of Wall Street’s largest hedge funds are still licking their wounds after retail traders sought to drive up the prices of stocks that were heavily bet against, resulting in large losses for major investors.Melvin Capital, a hedge fund at the center of the GameStop drama, lost 53% in January but received commitments for fresh...WW…

By , BOSTON/LONDON (Reuters) - Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop Corp and AMC Entertainment Holdings Inc is spreading to other assets.Slideshow Some of Wall Street’s largest hedge funds are still licking their wounds after retail traders sought to drive up the prices of stocks that were heavily bet against, resulting in large losses for major investors.Melvin Capital, a hedge fund at the center of the GameStop drama, lost 53% in January but received commitments for fresh...…By , BOSTON/LONDON (Reuters) - Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop Corp and AMC Entertainment Holdings Inc is spreading to other assets.Slideshow Some of Wall Street’s largest hedge funds are still licking their wounds after retail traders sought to drive up the prices of stocks that were heavily bet against, resulting in large losses for major investors.Melvin Capital, a hedge fund at the center of the GameStop drama, lost 53% in January but received commitments for fresh...WW…

By BOSTON (Reuters) - Billionaire investor Steve Cohen, seen by small investors as an enemy in the GameStop stock drama this week, deleted his Twitter account because of what he said were threats against him and his family, a spokeswoman said on Saturday.“I’m going to take a break for now,” Cohen said on Twitter late on Friday, citing “personal threats.” His account no longer appeared on Saturday, and a spokeswoman for Cohen’s Point72 Asset Management confirmed it was closed.The small investors, connected on social media, mobilized to take on institutional short sellers of GameStop and...…By BOSTON (Reuters) - Billionaire investor Steve Cohen, seen by small investors as an enemy in the GameStop stock drama this week, deleted his Twitter account because of what he said were threats against him and his family, a spokeswoman said on Saturday.“I’m going to take a break for now,” Cohen said on Twitter late on Friday, citing “personal threats.” His account no longer appeared on Saturday, and a spokeswoman for Cohen’s Point72 Asset Management confirmed it was closed.The small investors, connected on social media, mobilized to take on institutional short sellers of GameStop and...WW…