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Third Point LLC sells Baxter shares-$381.85m
Baxter International
Baxter specializes in the development, manufacturing and marketing of medical devices and medications intended for healthcare professionals. Net sales break down by family of products as follows:
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kidney dialysis drugs and equipment (51.7%);
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systems for delivering medications and intravenous therapy (31.9%): used in the fields of anesthesia, oncology (chemotherapy and radiation), parenteral nutrition, etc.;
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medicines and medical devices (11.8%): products intended for treating hemophilia (substitution clotting factors) and immune deficiencies (multi-purpose immunoglobins), and used in intensive care (human albumin) and biosurgery (fibrin adhesive, surgical gel, bone substitutes, hemostatic compresses, etc.) - other (4.6%).
At the end of 2018, the group had nearly 50 production sites worldwide.
Net sales are distributed geographically as follows: the United States (42.5%), Europe/Middele East/Africa (26.6%), Asia/Pacific (19.8%), Latin America and Canada (11.1%).
https://www.marketscreener.com/BAXTER-INTERNATIONAL-INC-11763/company/
Third Point LLC
Third Point Management is a New York–based hedge fund founded by Daniel S. Loeb in 1995.
The firm operates as an employee-owned and SEC-registered investment advisor with approximately $17 billion in assets under management. As of December 2016, it has returned an average of 15.7% a year since inception.
Third Point primarily invests in public equity, fixed income, and ADR markets globally and deploys an investment strategy that capitalizes on companies “undergoing events such as spinoffs or bankruptcies and pushes for corporate change". It also manages Third Point Reinsurance, a property and casualty reinsurer, and Third Point Offshore Investors, a UK-based closed-end investment company. Third Point's funds include: Third Point Partners, Third Point Opportunities Master Fund, Third Point Ultra Master Fund, and Third Point Resources. Third Point Ventures, its capital arm, invests in startup technology alternative energy and clean technology companies.
Headquartered in New York City, the firm also has six additional offices: in Sunnyvale, California; Los Angeles, California; Stamford, Connecticut; Bangalore, India; Hong Kong; and London.
Third Point holdings
https://whalewisdom.com/filer/third-point-llc
https://www.secform4.com/insider-trading/10456.htm
PayPal Execs sell $2.86m in shares May 16-17
Cap#1 is filed last night, Cap#2 is recent.
Paypal Holdings is one of the main global providers of online payment services. The company enables individuals and professionals to purchase and to sell goods and services, as well as make transfers and withdrawals.
Paypal Holdings operates a technology platform equipped with solutions (Paypal, PayPal Credit, Venmo and Braintree brands) designed to facilitate safeguarded payments via merchant websites, mobile payment devices, and through shops.
Net sales are distributed geographically as follows: United States (54.1%), the United Kingdom (10.7%) and others (35.2%).
Number of employees : 21 800 people.
https://www.marketscreener.com/PAYPAL-HOLDINGS-23377703/company/
https://www.secform4.com/insider-trading/1633917.htm
China's top diplomat calls for U.S. restraint on trade, Iran
SHANGHAI (Reuters) - China’s senior diplomat Wang Yi told U.S. Secretary of State Mike Pompeo that recent U.S. words and actions had harmed the interests of China and its enterprises, and it should show restraint, China’s foreign ministry said on Saturday.
Speaking to Pompeo by telephone, Wang said the United States should not go “too far” in the current trade dispute between the two sides, adding China was still willing to resolve differences through negotiations, but they should be on an equal footing.
Speaking on Iran, he also said China hoped all parties will exercise restraint and act with caution to avoid escalating tensions.
https://www.reuters.com/article/us-trade-china/chinas-top-diplomat-calls-for-u-s-restraint-on-trade-iran-idUSKCN1SO0GZ
Record-Setting Art Sales Confirm Global Liquidity Bubble
Art and collectibles prices have exploded in the past decade as a result of the extremely frothy conditions created by central banks. Hardly a week goes by without news headlines being made about ugly, tacky, or just plain bizarre works of art fetching tens of millions, if not hundreds of millions, of dollars at auction houses like Sotheby’s and Christie’s (often sold to rich buyers in China or Hong Kong). Make no mistake: we’re currently experiencing a massive art bubble of the likes not seen since the Japan-driven art bubble of the late-1980s that ended disastrously. Two art market records were made in the past week: the $91.1 million “Rabbit” sculpture by Jeff Koons, which set the record for the highest amount paid for a piece of art by a living artist, and the sale of Monet’s ‘Meules’ painting for $110.7 million, which set a record for an Impressionist work.
The New York Post reports on the Koons sale –
A sculpture of a silver rabbit by artist Jeff Koons sold at Christie’s auction house in Manhattan Wednesday for $91.1 million, setting the record for the highest amount fetched for a piece of art by a living artist.
Koons’ “Rabbit” surpassed the previous record, which was set just last November when British painter David Hockney’s “Portrait of an Artist (Pool with Two Figures)” sold for $90.3 million. Both totals include the auction house fees.
Art dealer Bob Mnuchin, the father of Treasury Secretary Steven Mnuchin, made the winning bid for the Koons work, Bloomberg reported. Mnuchin made the purchase for a client, according to the report.
The sculpture, which stands just over 3 feet high, is made of stainless steel and based on an inflatable children’s toy, according to the auction house.
Rabbit” by Jeff Koons is displayed at Christie’s in New York on May 3, 2019. Photo credit: AP
Reuters reports on the Monet sale –
One of the few paintings in Claude Monet’s celebrated “Haystacks” series that still remains in private hands sold at auction on Tuesday for $110.7 million, setting a record for an Impressionist work.
The oil on canvas, titled “Meules” and completed in 1890, is the first piece of Impressionist art to command more than $100 million at auction, said Sotheby’s, which handled the sale.
Assets around the world – from art to stocks to property – have been levitating on the massive ocean of liquidity that has been created by central banks. For example, the S&P 500 has soared 300% since its low in early-2009.
In order to understand today’s art bubble, it is helpful to learn about the art bubble of the late-1980s that ultimately crashed and burned. Throughout the 1980s, Japan had a bubble economy that was driven by debt and bubbles in property and stocks. Japan’s economy was seemingly unstoppable – almost everyone in the West was terrified that Japan’s economy and corporations would trounce ours while destroying our standard of living in the process. Of course, few people knew how unsustainable Japan’s economy was at that time.
As a result of hubris and the enormous amount of liquidity that was flowing throughout Japan’s economy in the late-1980s, Japanese businesspeople and corporations started to speculate in art, often bidding previously unheard of sums that Western art collectors would never have dreamed of paying. For example, Yasuda Fire and Marine Insurance paid a record $39.9 million for Vincent van Gogh’s “Sunflowers” at a London auction in 1987. Ryoei “wild fellow” Saito, Chairman of the Daishowa Paper Manufacturing empire, paid $160 million for the world’s two most expensive paintings – a Van Gogh and a Renoir. At the peak of the art market in 1990, Japan imported more than $4 billion worth of art, including nearly half of all Impressionist art that was on the market. Of course, the art market plunged along with Japan’s bubble economy in the early-1990s.
https://www.zerohedge.com/news/2019-05-18/record-setting-art-sales-confirm-global-liquidity-bubble
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>what the WHO really is and how powerful it is.