The American Federation of Teachers has used its pension funds to take on billionaire asset managers, the nation’s largest private student loan company and the world’s biggest education company.
Cannell Capital in April doubled its stake in Crumb Bake Shop to more than a million shares, despite nearly all signs pointing to the company’s ultimate demise. Earlier this week, the cupcake giant said it was closing all of its stores and going out of business.
Osmium Partners has successfully removed four members of the Spark Networks board after a contentious battle.
It doesn’t look as though Charney will be returning as the CEO of American Apparel any time soon, but he’s found a way to get some of what he wants.
The parent company of Olive Garden and Red Lobster missed analyst earnings estimates for the fourth quarter. Executives, who are facing shareholder opposition to the $2.1 billion sale of Red Lobster, called fiscal 2014 “a year of transformation.”
Darden says its sale last month of the seafood restaurant chain for $2.1 billion was full and fair. Activist investors say it was a scorched earth tactic meant to save the jobs of executives. A showdown is set for the company’s annual meeting later this year.
Mark Spitznagel, head of the $6 billion Universa Investments hedge fund, was forced by the city of Detroit to remove the 20 goats he had brought to graze in a blighted neighborhood. “The goats are gone.”
The Oracle of Omaha recently sent a letter to a San Francisco pension plan, advising the $20 billion fund not to invest in hedge funds. It’s the latest development in Buffett’s tenuous history with the hedge fund world.
Nelson Peltz’s giant hedge fund is currently holding a position that makes up 11% of the entire $5.8 billion fund’s portfolio, but has not had to reveal what the name of the stock is, even after the quarter’s filing deadline has passed. This isn’t the first time the SEC has allowed the fund, as well as other large managers, to withhold a major filing, and some smaller activist hedge funds are questioning the fairness of the practice.
A new report out today from Citi details findings that show hedge fund assets will swell to nearly $6 trillion in the next four years, doubling the size of the industry. At fees of 2% of assets and 20% of profits, members of the at-times controversial industry stand to make a lot of money.
The newly public AMC Entertainment was the favorite stock of hedge funds in the first quarter, and analysts say the company is on a tear, buoyed by projections of a better-than-expected summer blockbuster season.
Spruce Point Capital released a report today that details why iRobot, the company that makes the Roomba robotic vacuum, is a short target for them and other hedge funds.
Barington Capital announced its support of a shareholder vote to kill the “fire sale” of Red Lobster to the private equity firm Golden Gate Capital. “Blatant disregard for shareholder interest.”
Steve Wynn, of Wynn Resorts, was the lone bidder on the 7-foot tall statue at a Sotheby’s auction on Wednesday evening.
Speaking at the SALT 2014 Conference in Las Vegas, Appaloosa Management’s David Tepper served up more than a few opinions, platitudes, and general lessons on life.
Engaged Capital is betting that Medifast is the anti-Herbalife.
At least that’s the bet one hedge fund manager is making, shorting the home building sector on the belief that a “generational shift” is creating permanent renters.
Hedge fund manager Bill Ackman’s latest move has some praising him as a deal genius and others saying it is an example of everything wrong with corporate America, activist investing, and regulatory law.
Experts say that while activist investing campaigns can be great for shareholders, they often result in job losses, stagnating wages, and increased hours for employees. One such example can be seen in the impending integration of Jos. A. Bank into Men’s Wearhouse, a merger that resulted from a fiercely contested activist investing campaign.
BuzzFeed scored an invite to the 2014 Value Investing Congress in Las Vegas, where hedge fund managers from across the country and around the world come to divulge their favorite longs and shorts, and place a few other bets in the process. Here’s the scoop on what’s hot and what’s not.
Sometimes the billionaire activist pushed for a change that didn’t come, and companies fared better than if they’d heeded his advice, data shows. Most times, Carl Icahn made a lot of money.
Darden Restaurants reports earnings tomorrow, and another weak report could be enough to move shareholders to side with an activist hedge fund that is trying to stop the company from spinning off its chain of Red Lobster restaurants.
Hedge fund managers are increasingly tweeting their research and their sharp-edged attacks betting that a company’s stock will fall instead of rise, in a medium that was made for stirring up trouble.
Starboard Value has gone on a hiring and purchasing spree to help with its battle to keep Olive Garden and Red Lobster under one corporate umbrella. How far will they go to keep the chains together?
Dan Loeb’s Third Point Partners is demanding Sotheby’s open up all three board seats the $14 billion hedge fund is seeking. At this point, Sotheby’s is only offering one seat for Loeb, and the stock has fallen more than $3 per share in just over 24 hours.
Because apparently tons of money isn’t enough.
An anonymous commenter on a hedge fund message board criticized hedge fund manager Whitney Tilson’s market-moving call on a company called MagicJack yesterday. He didn’t take it well.
New data from Activist Insight suggests that activist investing for 2014 is already shaping up to outpace last year, and the companies targeted represent a diverse group of industries.
Pershing Square Capital has launched a new website attacking former Herbalife employees. Experts say the hedge fund could be in questionable legal territory with its “unprecedented” move.