Public Markets 3h Briefing
×Retail & Earnings
Gap bloomberg.com reported fourth-quarter sales and profit that came in slightly below expectations as two of its apparel chains underperformed, though CEO Richard Dickson maintained it was a successful quarter. Saks Global plans to close 15 additional stores in bankruptcy proceedings, with the CEO stating a smaller footprint will enable a greater focus on luxury shoppers.
Hedge Fund Moves
Millennium Management bloomberg.com hired four stock traders from rival Citadel as multistrategy hedge funds continue to battle for talent to manage their soaring assets.
Tech & Deals
Cerebras Systems bloomberg.com has selected Morgan Stanley to lead a renewed initial public offering attempt. Separately, Oracle finance.yahoo.com and OpenAI have ended plans to expand their flagship data center project.