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December 2024 institutional equity selling hit 2024 high as ETFs bought and retail stayed net sellers
S&P Global Market Intelligence reported that institutional investors were net sellers of $50.20 billion in equities in December 2024, the largest monthly sale of the year. Index funds and ETFs were net buyers of $25.89 billion, while retail investors also sold a net $7.84 billion and hedge funds bought $20.44 billion.
Deals & Capital Markets · a month agoComcast Unveils Tax-Free Separation of NBCUniversal and Sky Into Standalone Public Company
Comcast said it intends to separate its media operations, including NBCUniversal and Sky, from its connectivity and technology business through a tax-free distribution to shareholders. The company expects the transaction to close in about a year, subject to board, regulatory, tax and financing conditions, and plans investment-grade balance sheets for both companies.
Technology · a month agoUK Supreme Court Hears Apple Appeal Over $502 Million Optis 4G Patent Licence Award
The court is hearing Apple’s challenge to a 2025 ruling that set FRAND terms for an Optis portfolio of standard-essential 4G patents at $0.15 per device, producing a $502 million lump sum plus interest. The appeal also covers royalties on past sales and treatment of related foreign patent cases.
Finance & Banking · a month agoJPMorgan taps Petno and Rohrbaugh as co-presidents in succession move; Lake to retire
JPMorgan said Doug Petno and Troy Rohrbaugh were appointed co-presidents effective immediately as part of the board’s succession planning process. Petno will serve as sole CEO of the Commercial & Investment Bank, Rohrbaugh will lead Consumer & Community Banking, and Marianne Lake will retire after a transition period.
Companies & Earnings · a month agoMicron record Q3 profit and $50 billion sales outlook lift AI-related chip stocks
Micron reported fiscal third-quarter revenue of $41.46 billion and GAAP net income of $28.24 billion for the period ended May 28, 2026, versus $1.89 billion a year earlier. The company guided fiscal fourth-quarter revenue to about $50 billion and said it has 16 strategic customer agreements tied to roughly $22 billion in commitments.
Deals & Capital Markets · a month agoSEGRO Rejects Prologis All-Share Proposal Valuing Company at About £12.6 Billion
SEGRO said it received an unsolicited proposal from Prologis on June 16 offering 0.084 new Prologis shares for each SEGRO share, implying 925 pence a share and about £12.6 billion based on June 23 market inputs. The board rejected the approach, and Prologis must clarify its intentions by July 22.
Deals & Capital Markets · a month agoBlackstone-led creditor group takes control of Medallia as debt is cut and $150 million injected
Medallia said it reached a recapitalization agreement with lenders that will reduce outstanding debt and provide $150 million in new capital. Reports said a creditor group led by Blackstone, with Apollo and FS KKR, is assuming ownership, replacing Thoma Bravo following its 2021 buyout of the software company.
Companies & Earnings · a month agoFlutter plans to leave London Stock Exchange while keeping New York as sole primary market
Flutter said it intends to delist from the London Stock Exchange in August 2026 and retain its primary listing on the New York Stock Exchange. The company said the move reflects trading activity in its shares on the LSE and the additional costs associated with maintaining the listing.
Technology · 2 months agoOpenAI prepares major ChatGPT rebuild into agent-based ‘superapp’ as it readies planned IPO
OpenAI is planning its largest redesign of ChatGPT, aiming to expand it beyond chat into a broader app that includes coding features and AI agents designed to handle tasks across work and personal use. The changes are being prepared as the company moves toward a planned public listing this year.