Special Reports

Hedge Funds Stage Major Comeback After January's Meme Stock Mania: CNBC After Hours

CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC.com's Yun Li explains how hedge funds learned from early 2021's meme stock craze, and made big money in July. Plus, 12 U.S. service members die in a suicide bombing near Kabul, Afghanistan's international airport.

Hedge funds could be staging a comeback as short bets post best month since 2010

Short selling is booming again after almost being left for dead due to the GameStop mania, reviving hope that hedge funds could turn things around in 2021.

Hedge funds' short book generated in July the best alpha since 2010, and now it's outperforming the long side of their strategies, according to Morgan Stanley prime brokerage data.

The rebound came after a tough start to the year when the monstrous GameStop short squeeze inflicted huge pain for short sellers betting against the brick-and-mortar retailer. As the meme stock trend spread, it caused hedge funds to close out short bets and in general take on less risk.

Blue Origin successfully launches New Shepard cargo mission with research for NASA

Jeff Bezos' Blue Origin launched its New Shepard rocket for the fourth time this year but, despite carrying the billionaire founder in a crew on the last flight, Thursday's mission did not carry people inside the capsule.

Known as NS-17, this New Shepard mission is dedicated to carrying cargo. Blue Origin flew a NASA lunar lander technology demonstration and 18 customer research payloads inside the capsule — as well as an art installation on the top of the capsule.

The rocket launched from Blue Origin's private facility in West Texas. It reached a maximum altitude of 347,430 feet (or 105.6 kilometers) before returning to Earth safely. The NS-17 mission lasted 10 minutes and 38 seconds from launch to capsule landing.

12 U.S. service members were killed, 15 wounded in attack near Kabul airport, Pentagon says

The Pentagon on Thursday confirmed that 12 U.S. service members have been killed and 15 wounded after two suicide bombers detonated explosives near Hamid Karzai International Airport in Kabul, Afghanistan.

U.S. Marine Gen. Kenneth McKenzie, commander of U.S. Central Command, said that a number of Afghan civilians were also killed but was not able to provide a precise number.

The explosions took place near the airport's Abbey Gate and the Baron Hotel immediately adjacent, McKenzie said. Several gunmen opened fire on civilians and military forces after the explosion at Abbey Gate, he said.

The general, who oversees the U.S. military's operations in the region, said that the Pentagon is working to determine attribution for the attack, but added that the current assessment is that the bombers are affiliated with ISIS.

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