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David Tepper, founder of hedge fund Appaloosa Management, has stepped up his public battle with TerraForm Power, a company that owns and manages solar-energy projects.
In other news, 52% of respondents to a recent survey said they thought VC valuations in fintech were “bonkers“, and Jim Chanos of Kynikos Associates sent us two pie charts highlighting “The Players” in China’s growth model.
Last but not least, here is a series of CEO interviews with GE chief Jeff Immelt, PayPal CEO Dan Schulman and CBS boss Les Moonves:
- CEO Jeff Immelt on transforming GE — reflections on the year in which he shed almost $300 billion in assets and changed the company forever
- PayPal CEO Dan Schulman on the ‘Venmo line’ and the fact that cash will never die
- Les Moonves on CBS staying number one, the NFL, and why he’s glad he didn’t do a deal with Hulu
Note: This will be the last edition of Prime Finance until the new year. Happy Holidays.
Here are the top Wall Street headlines at midday –
America beats expectations – The US economy grew at a 2% pace in the third quarter — better than expected — according to the final estimate of third-quarter gross domestic product released Tuesday.
2 charts that have one veteran trader spooked about 2016 – Veteran trader Dan Nathan, editor of Risk Reversal, sent us two charts, and both tell dark stories about the year to come.
CHIPOTLE ANALYST: I don’t know how much more of this I can take – JPMorgan has downgraded Chipotle after a second outbreak of E. coli tied to its restaurants.
Wells Fargo presents 9 charts that defined markets and the economy in 2015 – wells Fargo analysts shared some of their favourite charts showing the economic and financial trends that shaped 2015.
Steve Cohen just scored a victory in his battle with the SEC – The US Securities and Exchange Commission has dropped a portion of its civil case against SAC Capital founder Steve Cohen.
Everything just changed for Chinese companies – We may be about to see what it’s like when big Chinese companies go bankrupt.
Elsewhere on the web –