For a big ship like ( IBM) or Microsoft ( MSFT) , what does it take to steer a turnaround? Both are veteran tech firms that long predate the cloud era. But their performances in recent years couldn't be more different...
More and more unicorns are galloping toward the stock exchanges, and it isn't always a smooth ride. Short-term volatility may be typical, as Lyft ( LYFT shareholders learned last week in the stock's first full week of trading. But there are deeper tensions beneath the surface, and their implications for investors are coming more clearly into focus...
JPMorgan & Co. ( JPM - Get Report ) CEO Jamie Dimon, an often-suggested candidate for a future Presidential candidacy, waded into the current political debate of the nature of American capitalism Thursday in his annual letter to shareholders of the country's biggest bank...
Bristol-Myers Squibb ( BMY ) traded blows with activist investor Starboard Value LP Tuesday as the pair issued competing presentations linked to the pharmaceutical group's planned $74 billion takeover of cancer drug specialist Celgene Corp. ( CELG )...
Corporate governance is the system of rules and structures by which a corporation is run. It is typically a concern for publicly held companies rather than private ones.
Walt Disney ( DIS ) shareholders approved CEO Bob Iger's future pay package by a slim 57% margin at the company's annual shareholder meeting even though the media giant proposed to reduce his compensation by $13.5 million. Iger was paid $65.6 million in 2018, a large jump from the $36.2 million he was paid in 2017, thanks to the stock awards he received from the company's upcoming purchase of Twenty-First Century Fox ( FOX ) assets...
Long-time activist investor and billionaire Carl Icahn has cut his holdings in car and truck rental giant Hertz Holdings ( HTZ ) . A Securities and Exchange Commission filing revealed that High River Limited Partnership, one of Icahn's investment firms, sold 1 million shares of Hertz, while Icahn Partners LP sold approximately 2.52 million shares and Icahn Partners Master Fund LP sold roughly 1.48 million shares - all on Monday, March 4...
Caesars Entertainment Corp. ( CZR ) is gambling on Carl Icahn's input to help the casino operator pick its next chief executive, according to Reuters, which cited people familiar with the matter. The talks are part of a settlement between Icahn and Caesars that would also include board seats, according to the report, after the billionaire activist investor disclosed a 9.8% stake in the company last week. After disclosing his stake, Icahn asked Caesars to launch a process to explore a sale...
Caesars Entertainment Corp.'s ( CZR ) latest gamble could on be itself, according to a published report Thursday. Carl Icahn -- the billionaire activist investor -- is urging the casino company to "explore a sale," according to The Wall Street Journal report, which said the company had received two recent offers. An email to a Caesars' spokesperson seeking comment was not immediately returned...
Is it time to break up eBay? One activist investor thinks so. Elliott Management, which acquired a 4% stake in the e-commerce marketplace, submitted a lengthy proposal on how to split up the company into three parts. In a letter, Elliott proposed spinning out the online ticket seller StubHub into a new company that, by their analysis, would be worth between $3.5 billion and $4.5 billion...
Cars.com ( CARS ) shares surged Thursday after the online car shopping service said it may explore a sale of the company, just weeks after activist investor Starboard Value pressed management to improve performance. Starboard Value, which owns around 9% of the Chicago-based group, told management in a letter published on December 10 that Cars.com had been losing customers for the past two years, leading to a decline in organic revenues...
It's not every day that the world's richest person gets divorced. Amazon ( AMZN ) investors didn't seem too perturbed by news that Amazon CEO Jeff Bezos and wife Mackenzie Bezos plan to split , which was announced via tweet on Wednesday. Despite widespread coverage of the news and speculation about what it might mean for Amazon, Amazon shares have not moved significantly since the announcement...
The boardroom of Goldman Sachs Group Inc. ( GS ) is finally catching up with the #metoo era. The Wall Street firm, historically man-heavy in its executive suite as well as among directors, said Thursday it had named former U.S. Navy Vice Admiral Jan Tighe to its board. Her appointment boosts the share of women on the board to four out of 14 total directors, or 29%...
Biopharmaceutical giant Gilead Sciences Inc. named Daniel O'Day, who heads Roche Holding AG's pharmaceuticals business, as its next CEO. The California-based company's board...
Germany's biggest lender has been the subject of persistent takeover speculation following a series of disappointing quarterly earnings and news that activist investor Hudson Executive Capital LP, led by former JPMorgan CFO Douglas Braunstein,...
The Activist Investing Today podcast talked to Jim Chadwick, about Ancora's activist strategy and his recent insurgencies at Hill International and Fleet Management International. In a wide-ranging interview, Chadwick explains how working with Relational Investors Ralph Whitworth and David Batchelder, prior to joining Ancora, was "the most important factor" in his career of activism...
Anyone -- including CEOs -- can tweet, but that doesn't mean everyone should . On Thursday, Tesla ( TSLA ) CEO Elon Musk again made headlines for questionable use of his widely-followed Twitter account when he posted a tweet seeming to insult the SEC , just days after he reached a settlement with the agency over fraud allegations...
Third Point LLC's Dan Loeb has been stirring the pot at Campbell Soup Co. The activist investor wants the full 12-person overhauled and thinks the company is a takeover target, or should at least sell some divisions, like its Pop Secret popcorn and Pepperidge Farms frozen cake brands. The company's stock performance has been weak recently, which could invite an activist eager to make management changes or perhaps see the company broken up or sold, The Deal reported...
P&G's quarter was far from clean. So the question now is, do the mixed results give activist investor and board member Nelson Peltz more firepower to drive changes?...
Akamai ( AKAM ) CEO Tom Leighton is fresh off a battle with well-known activist investor firm Elliott Management. Leighton discusses the situation with Elliott and prospects for doing deals with TheStreet...
Not a picture perfect way to end the week for Xerox. A New York Judge late Friday issued an order temporarily blocking Xerox Corp.'s ( XRX ) plan to merge with Fujifilm. At the same time, the judge gave the document technology company's third-largest shareholder permission to move ahead with a change-of-control proxy contest to take over Xerox's board...
An internal review of management behavior at the healthcare company over opioid distribution prompted by complaints from shareholder International Brotherhood of Teamsters gives company officials a clean bill of health...
