Four days after an activist hedge fund released an eviscerating analysis on the state of Olive Garden restaurants, claiming it was giving away too many breadsticks and doesn’t salt the water before cooking its pasta, among other things, parent company Darden responds.
The car and equipment rental giant had faced pressure from a number of large activist investors to change its management in recent months.
Eminence Capital is known for buying stakes in companies with the intent of forcing a deal or change of control. But Zynga’s stock ownership structure makes the success of such a play unlikely. So what is Eminence up to?
Hedge fund Jana Partners, which has been pushing for a sale of the pet supply company citing poor financial performance in the last year, received anonymous documents that appear to have persuaded PetSmart into considering a deal. Competitor Petco or a private equity firm is looking to bid on the company.
Both powerhouse investors made big bets on Verizon in the first quarter, but Loeb has since sold out of his position in the telecommunications company while Buffett has added nearly 4 million shares to his stake.
A lame duck CEO, a swift sale of Red Lobster without shareholder approval, and two hedge funds out for the entire board should make the Darden annual meeting in Orlando next month quite the spectacle. So. Much. Drama.
The hedge fund titan’s Pershing Square Capital is set to conduct an IPO later this year, but industry insiders are worried Ackman is sabotaging its potential success with his increasingly bizarre public behavior.
During the company’s second quarter earnings call, CEO Michael Johnson defended Herbalife’s earnings miss and recent hiring of a government affairs official by sharing his grand vision for its future. The comments come a week after Bill Ackman’s Herbalife presentation in New York at which he vehemently insisted the company was a giant pyramid scheme.
The company’s shares have now nearly doubled their IPO price.
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.”
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.
Well, except for right now. Based on this post.
Engaged Capital is betting that Medifast is the anti-Herbalife.
Shares of Twitter fell more than 10% Tuesday after Twitter’s “lockup” expired. Many shareholders have said they don’t intend to sell their shares.
On Tuesday, shareholders of Domino’s Pizza will decide whether to oust the chairman of its compensation committee, who granted a $43 million, three-year payout to the company’s CEO under terms that industry observers say are unprecedented.
The newly public company’s leadership announced they will not sell their stock once they are eligible to do so for the first time next month.
The company is imploring shareholders to vote against Icahn’s proposal to spin-off PayPal and appoint two board members at its upcoming annual meeting, and calling out Icahn’s personal attacks and the credentials of his proposed board members. This is just the latest in a heated battle that’s taken shape in the last three months.
The company said in an earnings call Friday morning that the quarter was “challenging,” especially at Red Lobster, which the company is trying to spin off. Darden’s CEO also urged shareholders to communicate with the company instead of holding a special vote on the spin-off or sale that an activist hedge fund has been fighting for in recent months.
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.
World Acceptance, a controversial lending company that has long been a short target of hedge funds, was forced to disclose an investigation by the Consumer Protection Bureau and a separate investigation of securities fraud, causing the stock to tank.
Eminence Capital, one of the loudest voices in the battle to merge Men’s Wearhouse and Jos. A. Bank, stands to make millions on the deal.
The Velveeta cheese wells have run dry, largely due to a surge in demand from celebrations surrounding the New Year and post-season football.
Despite posting solid third quarter results — including a narrower loss, the sale of 5,500 cars, and an eightfold increase in revenue — investors sent shares of Elon Musk’s Tesla Motors down almost 15% Wednesday on weak guidance for next quarter.
This is what we imagine is going through the media mogul’s mind in the photos on his Tumblr page.
Netflix, led by CEO Reed Hastings, now has more U.S. subscribers than HBO and ranks as the most-watched cable network by certain metrics. Small wonder its stock is up about 300% this year and is one of the best performing stocks in the S&P 500.
Analyst downgrades of Fortune 100 companies nearly doubled the number of upgrades last quarter. Why were market watchers so pessimistic?
When PSY released his dance-pop hit, it practically destroyed the internet. It also sent shares of D I Corp, a company that makes testing equipment for semiconductors, up 800%.
Makes sense since high school and Wall Street are pretty much the same.
BuzzFeed has obtained the “Golden Pitchbook” used by top brokers at John Thomas Financial. In its pages: How cold-calling brokers pressure prospects to buy stocks from the troubled firm.
Apple without a new product is like the Stones without a tour, reliant on an aging back catalog of old hits. But maybe CEO Tim Cook has a few of Mick Jagger’s moves up his sleeve.