Reuters Money: May 15, 2017

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Monday, May 15, 2017

High-profile Snap stakeholders revealed in filings

NEW YORK/BOSTON (Reuters) - Some of the biggest U.S. mutual and hedge funds, including Daniel Loeb's Third Point and Daniel Och's Och-Ziff Capital Management , owned stakes in Snap Inc , parent of the wildly popular Snapchat messaging app, at the end of March, regulatory filings on Friday showed.

U.S. court puts hold on 'too big to fail' case involving MetLife

WASHINGTON (Reuters) - A U.S. appeals court on Friday granted a 60-day pause in the long-running case in which the country's largest life insurer, MetLife Inc, has challenged the federal government's labeling of it as "too big to fail," as the Trump administration wrestles with reforms arising from the financial crisis.

Merrill Lynch to freeze costly recruiting bonuses for brokers

NEW YORK (Reuters) - Bank of America Corp's Merrill Lynch will stop paying the big upfront bonuses that Wall Street brokerages have long used to lure talent, ending a costly practice that did not always reap returns.

Hedge fund Passport nurses fresh losses as assets shrink

BOSTON (Reuters) - Hedge fund Passport Capital, which once grabbed headlines with triple digit returns, has been hit with fresh losses and its assets continue to shrink, the firm's founder told investors in a letter seen by Reuters on Friday.

Fidelity star stock pickers exit positions in Buffalo Wild Wings

BOSTON (Reuters) - Two star stock pickers at Fidelity Investments exited their positions in Buffalo Wild Wings during the first quarter, as the restaurant chain faces pressure from an activist investor pushing to oust its chief executive.

Hedge funds cut long positions in U.S. crude for third week: CFTC

(Reuters) - Hedge funds and money managers cut bullish bets on U.S. crude for the third straight week, as the oil market remained volatile over concerns about rising output and the effectiveness of OPEC supply cuts.

Mutual funds lose, short-sellers win on Snap trades

NEW YORK/BOSTON (Reuters) - The dramatic fall in Snap Inc shares on Thursday following the company's disappointing first quarterly earnings report as a public company was likely costly for a wide range of mutual funds, including Fidelity's giant Contrafund.

European stock funds in U.S. attract near-record cash: Lipper

NEW YORK (Reuters) - Investors stampeded into U.S.-based stock funds that invest in Europe, plowing the second-largest amount on record into those products and the most in two years, Lipper data showed on Thursday.

Column: U.S. states want to give a gentle push on retirement saving

CHICAGO (Reuters) - How to get people to save for retirement? There are two schools of thought: cajole and educate, or give people a little push in the right direction.

Ackman has a winner that is up 30 percent but will not name names

BOSTON (Reuters) - Billionaire investor William Ackman is making money on one of his new investment ideas, but he declined on Wednesday to identify the portfolio company, which has gained 30 percent since he first bought it.

Reuters Money: May 15, 2017

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