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Macy's new off-price project, Periscope CEO speaks

Yahoo Finance
Macy's new off-price project, Periscope CEO speaks

After two strong days the major indices (^DJI, ^GSPC, ^IXIC) are giving back some gains today with red arrows across the board.

Here are some of the other stories Yahoo Finance is keeping an eye on today.

Hedge fund windfall
2014 looked a little bit like 2008 for the biggest hedge fund managers. Research by Institutional Investor finds the top 25 took home half of what they made the year before; about the same as in the year of the financial meltdown. But don't shed a tear. Those like #1-ranked Kenneth Griffin of Citadel combined to still pull down more than $11 billion dollars. Those investing in hedge funds didn't fare quite so well.

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Up Periscope
Twitter's (TWTR) live video streaming service, Periscope, is the talk of tech world but is fast becoming the bane of content providers who fear users will continue to stream their intellectual property like last weekend's Mayweather-Pacquiao fight. Yahoo Finance spoke - via Persicope - with the app's co-founder and CEO Keyvon Beykpour at Tech Crunch's Disrupt New York.

PIMCO falls from the top
Apparently the cult of personality is alive and well in the bond market. Eight months after Bill Gross left the firm in a power struggle, perennial bond mutual fund king, PIMCO, has been dethroned.  Vanguard's fund is now number one.

Macy's vs. T.J. Maxx
Macy's (M) is going bargain hunting for new sales. More precisely, the venerable department store chain is trying out an off-price outlet called "Macy's Backstage." The retailer saying the four pilot stores in New York will offer clearance merchandise and special deals on name-brand fashion items.

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