US appeals court accepts broad definition of securities ‘dealer’ in microcap fund case

 For the second time this year, the 11th U.S. Circuit Court of Appeals has accepted the U.S. Securities and Exchange Commission’s expansive view of who must register as a securities dealer, handing a setback to industry groups that had urged the appeals court to clarify the distinction between dealers and investment funds that trade securities […]

Citi: US equities upgraded on ‘growth-oriented’ nature

Citi analysts downgraded European equities to neutral and upgraded their stance on the US in their latest global equity strategy note. Citing increased political risks and narrowing market leadership in Europe, they see the US as a more attractive option in the near term due to its “growth-oriented” nature and defensive qualities. “Near-term risks for […]

The low-end consumer ‘is really being stretched,’ says Five Below CEO

While inflation is showing signs of easing, consumers in the country may still be feeling its effects for quite some time, according to Joel Anderson, CEO of discount retailer Five Below. The executive sees underperformance particularly in the lower-income demographic. “The lower-end customer is really being stretched,” Anderson said on an earnings call with analysts Wednesday. “We’ve […]