Stock market news today November 12

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Hedge funds just suffered through their worst month in 8
years — here’s why their struggles could just be getting
started

The stock market‘s so-called Red October
was a tough time for investors of all shapes and sizes. But few
parties felt the pain like hedge funds, which turned in a rocky
month for the ages.

A large universe tracked by Hedge Fund
Research lost almost 3% in October, its
worst month since May 2010, when the eurozone debt crisis was the
major issue facing markets.

But it was the turmoil that raged under the surface of that
massive hedge fund universe last month that should have investors
worried.
While the market’s previous period of turbulence in February was
largely driven by technical factors, a study
from JPMorgan suggests Red October was far
more based on fundamentals.

Tech stocks are getting slammed, Dow drops nearly 500
points

Stocks fell for a third straight day Monday,
with technology leading the way lower amid worries about waning
iPhone demand.

The Nasdaq Composite fell 2.3%, while the S&P 500 lost 1.4%
and the Dow Jones Industrial Average was lower by 1.9%. The Dow
was down almost 500 points.

Apple sank
4.5% Monday after the facial-recognition supplier Lumentum cut
its outlook, prompting worries of slowing demand for the iPhone.

Athenahealth just struck a $5.7 billion deal to end an
18-month battle with activist investor Paul Singer

The Athenahealth saga is coming to a close.

On Monday, the healthcare company reached
a $5.7
billion agreement with Veritas Capital and
Elliott Management to be acquired.

The deal, which values Athenahealth at $135 a share, follows
months of pressure from Elliott to strike a deal and go private.
Athenahealth provides technology used by doctors and hospitals.

Good news, Wall Streeters: You’re probably going to get a
bigger bonus this year

Wall Street professionals in almost all sectors are likely to
receive bigger bonuses for the second year in a row, according to
compensation consultant Johnson Associates.

The firm published its latest projections for Wall Street
compensation on Monday. Incentive payouts are expected to be up
across sectors this year, and Wall Street workers on average may
see their year-end incentive payouts – including cash bonuses and
equity awards – increase 5-10%, the report said.

Bonuses for investment banking underwriters and private equity
professionals are projected to be 5-10% higher than last year,
while equities traders could see an even bigger jump, as much as
20% from last year.

In markets news