York Capital Management founder Jamie Dinan said the best way to create superior return is through activism. “In order to create alpha right now, activism is number one in my book, and I think that’s true in any market,” the hedge fund manager said at the Project Punch Card Conference in New York City on Wednesday. While “a big fan” of activism, Dinan said the work he has done is “behind the scenes,” which contrasted notable investors like Bill Ackman and Carl Icahn who frequently call on compan

Check out the companies making headlines after the bell:Shares of Lululemon Athletica slipped 5% during extended trading Wednesday despite the company’s third-quarter earnings beat. Same-store sales growth and gross margins also topped expectations, at 17% and 55.1%, respectively. Wall Street had expected same-store sales to increase by 14.4% and gross margins to increase by 54.6%. Lululemon shares reached a year-to-date high during midday trading, at $235.50 per share. The company’s shares are

Sometimes he brings in half of his annual income from his freelance work. He has seen a 40% decline in his freelance income since the law passed in September. Even if employers hire him for freelance work, he is limited to 35 annual submissions per client before they have to put him on payroll, he notes. As Zaino explains, many freelancers work independently by choice on terms they prefer. Opposition mounts from many quartersRide-sharing platforms have been lobbying against the California law th

“I have no reason to think that technique is coming to an end,” Raskin told “Closing Bell.” Earlier Wednesday, the Fed said it would hold interest rates steady following its two-day meeting this week and indicated that no action is likely in 2020. The decision follows the Fed lowering rates in July, September and October amid concerns from investors of an economic recession. Trump has repeatedly blasted the central bank for high interest rates, calling Fed officials “boneheads” and urging them t

Only a few days are left for the U.S. to decide whether to slap more tariffs on Chinese imports, and White House trade advisor Peter Navarro is weighing in — under the pseudonym “Ron Vara,” according to a memo he penned that CNBC obtained Wednesday. Navarro confirmed to The New York Times that he wrote the memo, which is circulating around Washington. In the memo, sent from an email belonging to Ron Vara — an anagram of Navarro — President Donald Trump’s trade advisor considers the “Keep Tariffs

Israel headed on Wednesday toward a third national election in less than a year with Prime Minister Benjamin Netanyahu facing the fight of his life for political survival after a criminal indictment. Neither Netanyahu’s right-wing Likud party nor the centrist Blue and White party led by his main rival, former military chief Benny Gantz, won enough seats in the Knesset (parliament) for a governing majority in the previous two contests. Both men were delegated the task of forming a coalition, but

Palantir and Credit Suisse invested a total of $40 million in the Signac venture to develop policing software. “The regulators thought this was a home run and Credit Suisse touted the Signac software publicly.” The impact on Credit Suisse was estimated at a penny or two per share, which is significant for such a large company. “Credit Suisse has conducted thorough and comprehensive internal investigations into every one of Ms. Graham’s claims and found them to be entirely baseless. Credit Suisse

Lululemon on Wednesday reported quarterly earnings and sales that topped analysts’ estimates, as more shoppers around the world picked up its yoga pants and sports bras. But its shares fell as much as 6% in after-hours trading on the news, as Lululemon’s fourth-quarter outlook came in slightly below Wall Street expectations. Net income grew to $126 million, or 96 cents a share, compared with $94.4 million, or 71 cents per share, a year ago. For the fourth quarter, Lululemon is now calling for re

Fiat Chrysler was the last of the three carmakers to close its contract with the union. The talks were also marked by a lawsuit GM lobbed at Fiat Chrysler over alleged corrupt bargaining practices as well as the planned merger between Fiat Chrysler and French automaker PSA Group. That’s for sure,” said Colin Lightbody, a labor consultant and longtime negotiator for Fiat Chrysler. GM workers went on strike, and the company closed three plants. The union on Wednesday said 71% of its members with F

The Fed left the fed funds rate range unchanged Wednesday at 1.50% to 1.75%. Markets took Powell’s comments as dovish, meaning the Fed is leaning toward an easing policy and keeping interest rates low rather than a tightening policy, or raising interest rates. Federal Reserve Chairman Jerome Powell made it clear the central bank will not move on interest rates unless it sees a significant and persistent move in inflation, which has been stubbornly below the Fed’s target. Economists say the outco

CEO of Twitter, Jack Patrick Dorsey, speaks during an exclusive interview with Hindustan Times at Twitter India office, at the Crescent, on November 14, 2018 in New Delhi, India. Twitter CEO Jack Dorsey announced Tuesday the company is funding a new research team that will develop an “open and decentralized standard for social media,” in part to address some of the current problems with the platform. The idealistic long-term vision is to make disparate social media networks more like email, so t

U.S. Attorney for the Eastern District of New York Richard Donoghue, speaks during a news conference in his office, in the Brooklyn borough of New York, Tuesday, July 16, 2019. Richard Drew | APProsecutors in Brooklyn, New York, said in November that a Lithuanian man and an unknown co-conspirator emptied the brokerage accounts of hapless victims, stealing hundreds of thousands of dollars. From that trusted email, the scammer can send an urgent message that a payment needs to go to a new account.

CNBC’s Jim Cramer has made a u-turn on Tesla from an “agnostic skeptic” to an “outright bull” on the stock. The “Mad Money” host on Wednesday exclaimed “I’m a true believer in Tesla,” breaking down his metamorphosis on the electric-car company he classifies as a “battleground stock.” Cult-like followings, complicated financials and charismatic leaders make up three main characteristics of a battleground stock, Cramer said. Cramer became a Tesla supporter with the help of lobbying by his wife, Li

Democratic presidential candidate Mike Bloomberg on Monday released a new proposal that would give a boost to lower-income workers by increasing tax credits for earned income and child care. The plan says he would seek to pay the earned income tax credit monthly, not annually. “Mike will reform the EITC (Earned Income Tax Credit) to make it much more generous, especially for single childless workers,” his plan says. At the moment, the Internal Revenue Service says that the maximum earned income

Former Trump attorney Michael Cohen departs after testifying behind closed doors before the Senate Intelligence Committee on Capitol Hill in Washington, February 26, 2019. The court filing contains a Nov. 26 email from one of Cohen’s lawyers, Roger Adler, to federal prosecutors in Manhattan noting their refusal to meet with Cohen. Adler, in another email to federal prosecutors last week, cited a New York Times article a day earlier. A spokesman for Manhattan federal prosecutors declined to comme

Fiat Chrysler was the last of the three carmakers to close its contract with the union. The talks were also marked by a lawsuit GM lobbed at Fiat Chrysler over alleged corrupt bargaining practices as well as the planned merger between Fiat Chrysler and French automaker PSA Group. That’s for sure,” said Colin Lightbody, a labor consultant and longtime negotiator for Fiat Chrysler. GM workers went on strike, and the company closed three plants. The union on Wednesday said 71% of its members with F

Only a few days are left for the U.S. to decide whether to slap more tariffs on Chinese imports, and White House trade advisor Peter Navarro is weighing in — under the pseudonym “Ron Vara,” according to a memo he penned that CNBC obtained Wednesday. Navarro confirmed to The New York Times that he wrote the memo, which is circulating around Washington. In the memo, sent from an email belonging to Ron Vara — an anagram of Navarro — President Donald Trump’s trade advisor considers the “Keep Tariffs

REITs will continue to see good performance, JLL saysRegina Lim of JLL says she foresees more initial public offerings for Singapore and Indian REITs. She also says, in the last 12 months, Singapore REITs have made “very nice strategic acquisitions” that will allow them to deepen their exposure in new markets.

Powell: Inflation and slack in economy have weak correlationThe Federal Reserve held interest rates steady following its two-day meeting this week and indicated that no action is likely next year amid persistently low inflation. Federal Reserve Chairman Jerome Powell answers questions following the decision to hold rates.

Powell: Expect job market to remain strongThe Federal Reserve held interest rates steady following its two-day meeting this week and indicated that no action is likely next year amid persistently low inflation. Federal Reserve Chairman Jerome Powell answers questions following the decision to hold rates.