UAW members vote against Ford deal at Chicago plant
Ford Chicago assembly workers reject the four year national contract with wage gains and a $10,000 sign on and profit sharing, with 66.7 percent of production and 78.5 percent of skilled trades voting no at UAW Local 551. Nationwide ratification ends Friday with 52,900 eligible voters.
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Treasury tightens rules to curb corporate inversions
The Obama administration expands limits on US firms merging with foreign parents to dodge taxes. New rules bar tax residence shifts and restrict ownership thresholds, aiming to block inversions completed or planned after Sept 22, 2014. Pfizer and Allergan, cited as potential inversion targets, saw stock drops as talks continue.
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Jacob Lew
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Apple slips from smart money favorite to fourth in hedge fund sales
Hedge funds sold 1.2 billion dollars of Apple stock in the quarter ending September, dropping Apple from No. 1 to No. 4 behind Allergan, Valeant, and Time Warner Cable. Despite strong iPhone sales, iPad declines and looming questions about future demand prompted the shift. Apple stock criticism follows profit growth of 31 percent and a new smartwatch launch as Tim Cook faces product-cycle pressures.
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Apple
FactSet
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Ackman
Morningstar.com
Top 10 holdings reshuffle highlights hedge fund activity
Large hedge funds disclosed holdings reshaping portfolios with Apple up 1.3 percent to 118.78 while Icahn remains Apple’s seventh largest owner with 52.8 million shares. Regulators show Einhorn and Ackman holdings shifting in Valeant and other drugmakers amid pricing scrutiny and stock swings.
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Shaw Group
Millennium Management
Philippe Laffont
Coatre Management
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David Einhorn
Carl Icahn
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