PIMCO to Lose Billions on Gross' Departure; Einstein Bros. Up 50%
Stocks fell slightly today amid protests in Hong Kong. The pro-democracy protests that are occurring in Hong Kong are scaring Wall Street investors. PIMCO will probably lose billions of dollars, around 10% to 30% of its assets, when founder and star manager, Bill Gross, leaves the investment firm. Gross announced last week that he was leaving PIMCO to join Janus Capital (JNS). Einstein Bros. Bagels' (BAGL) shares are up nearly 50% after the company announced that JAB Holding would be acquiring the company.JAB Holding will be purchasing Einstein Bros. for $20.25 a share.
Word on the Street
- U.S. Dollar Index climbs to its highest level in 4 years.
- Short-sellers lost big on these 5 stocks.
- Einstein Bros. Bagels (BAGL) up 50% after acquisition announcement.
- Companies that have cut the most jobs recently.
- GoPro's (GPRO) continues to shine, up on products.
- Micron Technology (MU) up 7 percent on 4Q earnings.
Published on Sep 29, 2014By InvestorGuide Staff