California Hedge Fund Bets on Volatility Spike, Reaps 400% Gain

LongTail Alpha funds capitalized on the markets' reaction to the new coronavirus pandemic.

 
Morgan Stanley CEO Recovered From Coronavirus

Morgan Stanley Chief Executive James Gorman said he has recovered from the new coronavirus, the most senior Wall Street executive known to have been infected.

 
Disney's Stream Turns Into a Torrent

The pandemic sends a flood of new subscribers to Disney+, offsetting some of the company's other shutdown problems.

 
Merck Venture Arm Invests in Quantum Computing Startup Seeqc

Quantum computing startup Seeqc has raised more than $11 million in venture capital funding from investors including a subsidiary of German company Merck KGaA, which is interested in using the technology for materials science and pharmaceutical development.

 
Franklin Prepares for Potential Chesapeake Debt Restructuring

Mutual-fund company Franklin Resources is taking steps to prepare for a potential debt restructuring or bankruptcy of indebted oil-and-gas driller Chesapeake Energy.

 
GE Warns of Weak First Quarter, Pulls Forecasts

General Electric warned its first-quarter earnings would be below its prior forecasts and pulled its financial guidance for the full year, citing the disruptions and uncertainty caused by the coronavirus pandemic.

 
White House to Discuss How to Help Airlines

Officials will brief President Trump on Thursday afternoon on their plans for assistance to airlines, which are eligible for grants and loans as part of a $2.2 trillion economic relief package.

 
Key BP Deal Threatened by Buyer's Financing Snag

BP's sale of its Alaskan business is in jeopardy after a group of banks balked at financing the $5.6 billion deal to buyer Hilcorp Energy amid a historic rout of oil and gas prices, according to people familiar with the deal.

 
Pfizer Identifies Lead Coronavirus Drug Candidate

The drugmaker has found a promising but early potential coronavirus treatment, which the company aims to begin testing in patients this summer.

 
Car Makers Get a Boost as Chinese Plants Slowly Return to Life

When China's economy crashed early this year, Western manufacturers with a strong presence there suffered. Now, as China gradually reopens for business, that presence is boosting auto makers including General Motors, Volkswagen, Mercedes-Benz and BMW.

(END) Dow Jones Newswires

April 09, 2020 15:15 ET (19:15 GMT)

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