Olive Garden Owner Defends Breadstick Strategy As Conveying "Italian Generosity"
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.
Anonymous Documents Sent To Hedge Fund Back PetSmart Into Likely Sale
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.
Herbalife CEO: Eventually We'll Be A Fortune 100 Company
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.
Darden Sees Profit Drop 35% After Red Lobster Sale Announcement
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."
Movie Theater Chain AMC Entertainment Hot Among Hedge Funds As Summer Movie Season Heats Up
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.
eBay Fires Back At Icahn, Calls Him A Distraction
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.
High Cost Of Shrimp And Lack Of Customers Lead To 18% Earnings Drop For Red Lobster Owner
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 Earnings Could Bring Fight Over Red Lobster Spin Off To Screaming Boil
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.
Lending Company World Acceptance Is Now The Subject Of Yet Another Investigation
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.