By Svea Herbst-Bayliss (Reuters) – Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix on Wednesday, locking in a loss of more than $400 million as the streaming service’s stock plunged following news that it lost subscribers for the first time in a decade. Ackman’s hedge fund Pershing Square Capital Management made an …
Ackman gives up on Netflix, taking $400 million loss as shares tumble Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) -T. Rowe Price Associates, one of the biggest investors in Kohl’s Corp, said it plans to back all of the department store’s directors, dealing a setback to activist hedge fund Macellum Advisors as it tries to take control of the board. “We intend to vote FOR the 13 nominees presented …
T. Rowe Price says it plans to back Kohl’s nominees in proxy fight with Macellum Read More »
BOSTON (Reuters) – Proxy advisory firms Glass Lewis and Institutional Shareholders Services urged investors in healthcare real estate trust Ventas Inc to back management’s director candidates and reject activist investment firm Land & Buildings’ effort to win one board seat. Land & Buildings’ founder Jonathan Litt nominated himself as a director candidate, arguing that poor …
Proxy advisory firms urge Ventas investors to reject activist’s bid for board seat Read More »
By Lewis Krauskopf NEW YORK (Reuters) – A hawkish turn by the Federal Reserve is eroding a key support for U.S. stocks, as real yields climb into positive territory for the first time in two years. Yields on the 10-year Treasury Inflation-Protected Securities (TIPS) – also known as real yields because they subtract projected inflation …
Analysis-Positive real yields may spell more trouble for U.S. stocks Read More »
(Reuters) – CalPERS, the largest U.S. public pension fund, on Tuesday said it will vote for a shareholder proposal that Berkshire Hathaway Inc replace Warren Buffett as chairman, though he would remain chief executive officer. The fund, whose full name is the California Public Employees’ Retirement System, disclosed its vote in a regulatory filing ahead …
CalPERS to vote to replace Buffett as Berkshire chairman Read More »
(Reuters) -Australian wealth manager AMP Ltd confirmed on Tuesday it was in talks with multiple parties, including real estate firm Dexus, for a potential sale of assets and businesses of its investment management unit Collimate Capital, formerly AMP Capital. The announcement comes after media reports indicated AMP was in discussions to sell Collimate in a …
Australia’s AMP confirms in talks to sell investment management unit Read More »
By Chris Taylor NEW YORK (Reuters) – When accountant Zach Gordon gets calls from clients about how to handle cryptocurrency on their taxes, there is a common theme. “They have absolutely no idea,” says Gordon, a principal with Grassi Advisors & Accountants in Westchester, New York. It is not entirely their fault. The whole arena …
BOSTON (Reuters) – Shareholder activist Jonathan Litt ended plans to win board seats at LXP Industrial Trust, the company said on Wednesday, less than a week after it suspended plans to explore strategic alternatives, including a possible sale. Litt’s investment firm Land & Buildings notified the U.S. warehouse-focused real estate investment trust in a letter …
Activist Litt ends plans to push for board seats at LXP Read More »
(Reuters) -The U.S. Federal Reserve must put the brakes on economic activity to tackle surging prices, James Bullard, president of the St. Louis Fed, told the Financial Times in an interview https://on.ft.com/3uBKcZZ. It is a “fantasy” to think the Fed can tame the fastest U.S. inflation in four decades without aggressively raising interest rates, he …
Fed’s Bullard says central bank must put brakes on economic activity -FT Read More »
By Jonathan Stempel NEW YORK (Reuters) – Alleghany Corp, which agreed last month to be acquired by Warren Buffett’s Berkshire Hathaway Inc, was sued on Wednesday by a shareholder who accused the insurance company of making inadequate and misleading disclosures about the $11.6 billion takeover. In a complaint filed in Manhattan federal court, the plaintiff …
