1. Articles from Portia Crowe

    1-26 of 26
    1. Someone Made a $100 Million Trade with JPMorgan on Their Cell Phone

      Someone Made a $100 Million Trade with JPMorgan on Their Cell Phone

      JPMorgan is investing in technology in a big way — and it's paying off.

      The CEO of the firm's corporate investment bank, Daniel Pinto, stressed the importance of technology in an annual letter to shareholders Tuesday.

      Specifically, he noted, one client leveraged the firm's technological capabilities to make a $100 million trade — from a mobile phone...

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    2. Siemens is Buying a Software Company for About $4 Billion

      Siemens is Buying a Software Company for About $4 Billion

      Mentor Graphics has been fending off interest from activist investors for years. Carl Icahn fought and won a proxy fight to get three board seats in 2011, but he later exited the trade. Elliott Management in September reported a stake in the company, saying the shares were deeply undervalued, according to Reuters ...

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    3. TD Ameritrade is Buying Scottrade for $4 Billion

      TD Ameritrade is Buying Scottrade for $4 Billion

      The retail broker TD Ameritrade is buying the discount brokerage Scottrade for about $4 billion. That will include $1 billion in new common equity and $1.7 billion in cash. "This combination will allow us to leverage our strengths and increase our scale, further accelerate our asset gathering capabilities and introduce our award-winning line-up of trading tools, products and education services to millions of new investors," TD Ameritrade CEO Tim Hockey said in a statement...

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    4. Meet the Bankers Working on Elon Musk’s Contentious $2.6 Billion Takeover

      Meet the Bankers Working on Elon Musk’s Contentious $2.6 Billion Takeover

      Tesla is buying the solar-panel company SolarCity for $2.6 billion , and two banks are on the deal. The boutique firm Evercore was Tesla’s sole financial advisor, while Lazard was the sole advisor to SolarCity. Evercore’s team included its founder and executive chairman, Roger Altman, as well as Stuart Francis, Courtney McBean, Preston Comey, Patricia Shaw, Anand Sankaralingam, Connor Landy, Marshall Watkins and Jessica Yi. Over at Lazard, George Bilicic and Jonathan Mir led the firm’s efforts...

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    5. How Wall Street Made an Absolute Killing From Twinkies

      How Wall Street Made an Absolute Killing From Twinkies

      Hostess Brands, the maker of Twinkies, is going public in a deal that is great news for private equity.  Apollo Global Management and the family-owned private equity firm C. Dean Metropoulos & Company — which together bought Hostess out of bankruptcy in 2013 — have sold the company to Gores Holdings, a special purpose acquisition company, for some $675 million.

      In the process, they've made a ton of money...

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    6. 'Of course' I Regret Valeant

      'Of course' I Regret Valeant

      Activist investor Bill Ackman says "of course" he regrets investing in Valeant, the former stock market darling that's been hit with SEC investigations, Senate probes, and a precipitous decline in its stock price.

      "There's been a lot of brain damage in the last five weeks working with the board," Ackman said in an interview with CNBC's Scott Wapner on Monday.

      Ackman joined Valeant's board in March as Valeant's CEO, Mike Pearson, announced his departure from the firm.

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    7. Walgreens is Buying Rite Aid

      Walgreens is Buying Rite Aid

      Walgreens Boots Alliance just announced it will buy Rite Aid Corporation at $9.00 per share.  Including debt, the deal is valued at about $17.2 billion.  That's a 48% premium to the closing price per share the day before the agreement was signed.  Rite Aid shares were up as much as 40% earlier on Tuesday after news broke of a potential deal. In after hours trading, they were down about 6.92%...

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      Mentions: acquisition
    8. Barclays Has a New CEO and Big Changes Could be Coming

      Barclays Has a New CEO and Big Changes Could be Coming

      Barclays is reportedly getting a new CEO.  Ex-JPMorgan investment banker Jes Staley is set to take over as chief executive, the Financial Times reports.  The news of Staley's appointment was expected to be announced in the next two weeks, according to the FT.  Staley was apparently on a shortlist of two people to become the next CEO of the London-based bank.  Under Staley, a career investment banker, we may begin to see a change in strategy at Barclays...

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    9. Goldman Sachs CEO Lloyd Blankfein has Lymphoma

      Goldman Sachs CEO Lloyd Blankfein has Lymphoma

      Here's the statement from Goldman Sachs:

      To my colleagues, our clients and our shareholders,

      Late this summer after several weeks of not feeling well, I underwent a series of tests, which culminated in a biopsy last week. After the biopsy, I was told by my doctors that I have lymphoma. Fortunately, my form of lymphoma is highly curable and my doctors' and my own expectation is that I will be cured.

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      Mentions: CEO
    10. Billionaire JPMorgan Chief Jamie Dimon Says There’s No Point in Slashing CEO Pay

      Billionaire JPMorgan Chief Jamie Dimon Says There’s No Point in Slashing CEO Pay

      JPMorgan CEO Jamie Dimon says it's okay that CEOs get paid way more than their average employees, and that cutting down on executive compensation wouldn't help eliminate income inequality. That's according to Bloomberg's Claire Boston and Hugh Son , who wrote up comments from Dimon at a Detroit event Thursday. "It is true that income inequality has kind of gotten worse," Dimon said, but "you can ...

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    11. Disclosing CEO-Worker Pay Gaps Makes No Sense for Wall Street Banks

      Disclosing CEO-Worker Pay Gaps Makes No Sense for Wall Street Banks

      The Securities and Exchange Commission this week adopted a new rule requiring public companies to disclose how much money CEOs earn in comparison to typical employees. Part of the Dodd-Frank financial reform act, the rule has been applauded by many, including The New York Times editorial board. The Times said the requirement could help shareholders make decisions on company performance based on things like morale and turnover...

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    12. Now Deutsche Bank is Freezing Executive Bonuses

      Now Deutsche Bank is Freezing Executive Bonuses

      Deutsche Bank is planning to freeze bonuses for all management board members, reports Reuters' Kathrin Jones. The freeze is reportedly being enacted while a German regulator investigates the bank's role in the "Libor" interest rage rigging scandal. Deutsche Bank in April reached a $2.5 billion settlement over accusations that it helped rig the London Interbank Offered Rate, a benchmark interest rate used around the world and calculated based on the interest rates set by all the major banks in London. On Thursday, The Wall Street Journal reported that Deutsche Bank had lost records of internal chat conversations that ...

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      Mentions: Management CEO
    13. CEOs Love Share Buybacks for the Most Obvious Reason in The World

      CEOs Love Share Buybacks for the Most Obvious Reason in The World

      BlackRock CEO Larry Fink wrote to the chief executives of all the S&P 500 companies in April asking them to lay off on stock buybacks and dividend payouts, he ignited a debate about shareholder value. Now, it's easy to point to activist investors as the villains who force boards to return cash to shareholders at the risk of damaging companies' long-term development. But activists are not the only ones pushing for heightened returns...

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    14. Steve Wynn Won't Have to Deal with his Ex-Wife on the Wynn Resorts Board Anymore

      Steve Wynn Won't Have to Deal with his Ex-Wife on the Wynn Resorts Board Anymore

      She fought a good fight, but Steve Wynn's ex-wife, Elaine, has been ousted from the Wynn Resorts board.  After more than 12 years as a director at the casino company, Elaine Wynn was not renominated to the board earlier this year. Wynn, who was reportedly shocked, renominated herself and went on to launch a re-election campaign...

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    1-26 of 26
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    Activist Investors are Really Polite in Japan Steve Wynn Won't Have to Deal with his Ex-Wife on the Wynn Resorts Board Anymore The SEC Thinks Shareholders Should Decide How Much Execs Make Forbes Thinks Bill Ackman Might be the Next Warren Buffett CEOs Love Share Buybacks for the Most Obvious Reason in The World Now Deutsche Bank is Freezing Executive Bonuses Disclosing CEO-Worker Pay Gaps Makes No Sense for Wall Street Banks Billionaire JPMorgan Chief Jamie Dimon Says There’s No Point in Slashing CEO Pay Goldman Sachs CEO Lloyd Blankfein has Lymphoma JPMorgan CEO Jamie Dimon Just got a 35% Raise (JPM) Lumen Technologies (LUMN) Appoints Quincy L. Allen to its Board of Directors GRAY NAMES STERLING SPAINHOUR TO ITS BOARD OF DIRECTORS