Sears Holdings Corp. is suing its former chairman and CEO Eddie Lampert and a handful of former board members, including U.S. Secretary of the Treasury Steven Mnuchin, for allegedly stripping the company of $2 billion in assets, reports CNBC.
Details: Sears is also filing suit with Lampert's hedge fund ESL Investments, where Mnuchin was previously a director. The suit alleges Lampert and members of the fund's board instructed executives at the retailer to manufacture false financial projections that would imply a company turnaround, despite no plan for profitability and the company's accumulation of more than $7 billion in debt, per the Wall Street Journal.
Zoom Video shares popped over 70% on Thursday morning, following an IPO that initially valued the Silicon Valley videoconferencing company at more than $9 billion. But not everyone who thinks they bought Zoom Video shares actually did so.
There are actually two Zooms. The aforementioned Zoom Video, which trades under ticker symbol ZM, and Zoom Technologies, a tiny Chinese wireless company that has the ZOOM ticker symbol.
Zoom Technologies shares are up over 62% in early Thursday trades, with more than four times its normal trading volume. Either people are confused, or they're cynically betting that others will be.
The fast-evolving internet ecosystem is changing how tech companies form alliances to lobby policy-makers in Washington.
The bigger picture: Lines are blurring or becoming more stark among different tech, media and telecom companies. Telecom companies are producing content, while platform companies are exploring new services like internet connections. That means sectors are no longer staying in their lanes, and regulatory scrutiny is shifting.
Nurses, already in short supply, have not been afraid of going on strike at their hospitals.
Between the lines: Pay and health benefits are almost always part of why any worker considers striking. But nurses, who make $72,000 per year on average, are also consistently unhappy about understaffed hospitals, saying they're caring for too many patients at once.
Pinterest has raised over $1.4 billion in its IPO, pricing shares above the top of its expected range.
The bottom line: It's a strong showing for an unprofitable unicorn on the heels of Lyft, but still values Pinterest shares a bit below where they were last sold to venture capitalists.
