Day Traders News
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BlackRock Inc.’s Mark Lyttleton, who was picking winning stocks as an 8-year-old, became a U.K. poster boy for retail clients seeking hedge-fund style investments after posting positive returns in 2008 when markets crashed. Money poured in.
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Two former day traders who were convicted of trading on stock tips gleaned from the wife of a former Lehman Brothers Holdings Inc. salesman settled claims by the U.S. Securities and Exchange Commission.
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A gauge of U.S. corporate credit risk declined, almost erasing yesterday’s advance, as a report showed new-home construction rose last month.
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BM&FBovespa SA, the operator of Latin America’s biggest exchange, is lowering fees for stock transactions and will offer incentives to day traders to boost volumes, Chief Executive Officer Edemir Pinto said.
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Investors including hedge funds are buying the preferred stock of government-controlled mortgage firms Fannie Mae and Freddie Mac in a long-shot bet they will have a future as private companies.
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Former Citigroup Inc. stockbroker Ralph Casbarro , who cooperated with prosecutors, was fined $500 and received no prison sentence or probation for his involvement in a scheme to let day traders eavesdrop on internal conversations over brokers’ “squawk boxes.”
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Four of six defendants accused of illegally tipping day traders to confidential data on internal “squawk boxes” have agreements with the U.S., federal prosecutors said.
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Billionaire Philip Falcone’s hedge fund, Harbinger Capital Partners LLC, was told it may be sued by federal regulators for securities-law violations and said it plans to halt investor withdrawals at year-end.
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In 12 years as a retail financial consultant for Charles Schwab, George Pennock thought he had seen every kind of market. Then, on May 6, he and his 250 clients lived through something new.
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A former broker at Merrill Lynch & Co. and Citigroup Inc. lost a bid to throw out his conviction for selling access to his brokerages’ internal “squawk boxes” after arguing prosecutors hid evidence of his innocence.
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