From the Securities Lending Trading Desk

new growth

Merger news continues to drive Securities Lending demand in the U.S. Fee levels are spiking quickly for recent IPO, Snap Inc. as the share price tumbled after the company reported a $2.2 billion loss. The world’s second-largest shipbuilder, Hyundai Heavy Industries, has split into four companies as it seeks to navigate through one of the most prolonged slumps in the industry. In Europe, everyone is talking about TalkTalk Telecom’s dividend scale back.

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From the Securities Lending Trading Desk

new chart

This week, shares of Angie’s List Inc. (ANGI) trended higher following the announcement of plans to merge with IAC’s (IAC) HomeAdvisor. We have seen strong lending demand for Property developer Fullshare Holdings Ltd. as it rallied after shares resumed trading. In Europe, the Brexit is looming over Intu and demand for securities lending has increased.  Continue reading

From the Securities Lending Trading Desk

new arrow

We have seen strong initial demand for Yext, Inc. (YEXT), the digital media technology services company that went public last week. There was a sharp increase in lending demand for Chinese property developer Evergrande as investors bet its share price rally will be difficult to sustain. In Europe, short interest increased for domestic-focused French small cap stocks ahead of the nation’s presidential election. Continue reading

From the Securities Lending Trading Desk

new growth

Fee levels are trending higher for BofI Holding Inc., the most shorted U.S. lender, amid a federal money laundering probe into the company’s main subsidiary, BofI Federal Bank. In Asia, we continue to witness long term securities lending demand for Bellamy’s Australia, whilst in Europe Apple calls time on Imagination Technologies Group,which fell 69% last week.

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From the Securities Lending Trading Desk

new business

Last week saw an uptick in demand for Frontier Communications Corporation (FTR) as the share price tumbled amid an analyst downgrade and speculation of a canceled dividend. Fee levels are climbing for Altisource Portfolio Solutions (ASPS). Shorts are getting squeezed and the price has spiked more than 60% since February 23. In Asia, we continue to see strong long term lending demand for Chinese automaker BYD Co Ltd, as it issued a profit warning due to slowing growth in the demand for electric vehicles.  Continue reading