The Billion Dollar bet on Stock Market Crash
World’s largest hedge fund, Bridgewater Associates reportedly placed a billion-dollar bet on global equity market sell-off in the next few months. The people familiar with the matter told the Wall Street Journal that Ray Dalio’s Bridgewater associates with more than $150 billion in total assets under management have placed a bet worth more than $1 billion, using put options assembled by Goldman Sachs and Morgan Stanley.
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Dow futures dropped
Dow futures dropped
Stock futures fell in early morning trading on Thursday as investors evaluate the pace of economic recovery and the coronavirus developments. S&P 500 and the Nasdaq 100 futures also pointed to losses at the Thursday open for the two indexes. The moves in futures followed two straight days of losses for the 30-stock Dow and S&P 500 as investors ditched reopening trades for the megacap tech names.
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Cnbc
SBA watchdog probes small business loans as scrutiny intensifies
In his letter, Ware said the SBA inspector general's office started reviews of the PPP and the Economic Injury Disaster Loan program on April 24. “The Criminal Division’s Fraud Section is working with our law enforcement partners, the Small Business Administration and banks processing loans under the Paycheck Protection Program to identify outliers in the data," DOJ spokesperson Peter Carr said.
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Politico
Boeing Goes From Bad to Worse as Coronavirus Crushes Air Travel
Between compensation payments related to the 737 MAX grounding, delayed aircraft deliveries resulting from customers' distress, and Boeing's need to support its supply chain, cash burn will likely continue to exceed reported losses for most if not all of 2020. While Boeing is doing its best to cut costs, dramatically lower production rates will put pressure on profit margins
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Fool
Netflix Plans to Raise $1 Billion Through Debt Offering
Because nearly all of Netflix’s original productions are currently on hold, that will “shift out some cash spending on content to future years,” the company said in the Q1 letter.With its current outlook and balance sheet, Netflix said it has more than 12 months of “liquidity and substantial financial flexibility.” The company ended Q1 with $5.2 billion in cash and equivalents and maintains an untapped $750 million line of credit.
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