Hedge-fund managers almost tripled their holdings of Dell Inc. common shares in the second quarter while traditional mutual-fund firms cut their stakes in the computer maker, a trend that could boost Michael Dell’s bid to take his company private.
Nomura Holdings Inc., Japan’s biggest brokerage, hired top-rated Sanford C. Bernstein & Co. analyst Michael Nathanson as head of U.S. media and telecommunications equity research, according to a person familiar with the matter.
Hess Corp. will sell its fuel storage terminal network and exit the refining business as billionaire Paul Singer’s Elliott Associates LP fund said it may buy more than $800 million in shares and seek board seats.
Argentine bonds sank the most in four months after the country lost a bid to reverse U.S. court rulings that may help creditors including hedge fund Elliott Management Corp. collect $1.4 billion on defaulted debt.
Brocade Communications Systems Inc., which has been trying to sell itself for more than two years, is a step closer to unlocking a 32 percent gain for shareholders now that its chief executive officer is on his way out.