28 Burst results for "Elliot Management"

"elliott management" Discussed on Today, Explained

Today, Explained

08:38 min | Last month

"elliott management" Discussed on Today, Explained

"Today today's claim today explain I'm Sean Rommel's firm joined by Liz. I'm a deputy editor at the verge. Lately, that's when she's been writing a lot about Elon Musk. Yeah, so Elon Musk, if you're not familiar, is the CEO of a car company, Tesla, and a rocket company, SpaceX, and he's also a renowned Internet poster, spends a lot of time on Twitter. You tweet a lot. I use my tweets to express myself. Love riling people up on Twitter. Loves to talk smack about like Bernie Sanders and Elizabeth Warren. Tweeting at Bernie Sanders over the weekend. I keep forgetting that you're still alive. I just don't even know what to say about that. The other thing that's maybe worth noting here is that his Twitter use was important for Tesla. His account is disclosed in some of their filings as being a legitimate source for Tesla information. And it also in 2018, which I understand feels like the ancient mists of time by now. He made an announcement that he was going to take Tesla private funding secured on Twitter, funding was not secured. He ended up getting fined by the SEC, Musk's statements, misled members of the investing public to believe that it was virtually certain he could take Tesla private at a price of $420 per share, which was a substantial premium over a share price at that time. Twitter is a place where he does a lot of his I think entertainment. So it seems to be massively important to him personally as a forum for talking to his fans. Twitter is a war zone. If somebody is going to jump in the war zone, it's like, okay, you're in the arena. Let's go. And before this story begins, how does Twitter feel about Elon Musk? Well, there's a little bit of prehistory here, some of which is corporate. So Twitter's last CEO is a guy named Jack Dorsey. Beautiful beard. Iconic beard. And he has said that he views Musk as the ideal Twitter user. That's how he thinks Twitter should be used. And so the two of them are buddies. And so last year, okay, fact check this actually happened in 2020, but as Liz said earlier, the ancient mists of time. Some activist shareholders, Elliott management, which are legitimately scary people. If they get into your stock, you're maybe in trouble. They got up to Twitter. We got some pretty big social media news. We learned that Elliott management. That's the relentless activist hedge fund. Had taken a sizable position in Twitter and demanded CEO Jack Dorsey's head on a silver platter. Twitter ended up like settling with them for some board seats and Jack Dorsey left last year, which means that Elliott capital management's ideal successor Agrawal is now the CEO of Twitter. So that's sort of the pre history here. How does this particular story start? So a couple weeks ago. We discovered that Elon Musk had been buying up shares of Twitter. Twitter shares, they are surging right now this because Tesla CO Elon Musk has now taken a passive stake in Twitter. We discovered this because he had filed the wrong form with the SEC about it. Not good, the financial stuff. I just think he doesn't like the SEC very much and doesn't respect them. And I think that because he said so several times. I want to be clear, I do not respect the SEC. I do not respect them. He files this and there's sort of interest, the stock pops. I want to say it's about 30%. People are excited that the Elon Musk has gotten into the stock. What does Twitter do in that moment? I think panics. I think that that's a shock to everybody, right? This is like surprise. Elon Musk is at the party. And that's what I think when they probably started negotiating with him about the board seat. So Twitter finds out that Elon Musk is buying up a bunch of its stock, and then they call him up and they say, shall we put you on the board? Yeah. Why would they do that if he's sort of like a mercurial figure on Twitter? Well, a couple of reasons. First of all, I think it's not a bad idea to have poster representation on the board of your company if your company's Twitter. Plus, Elon Musk getting into it makes the shares go up and you know, investors generally like it when numbers go up, like that seems to be like a thing. The possibility of Elon Musk on your board is that Elon can say a bunch of wild things and have them be thought of as like Elon being Elon that you as CEO or an otherwise responsible member of the financial community can not say and maybe that's useful. So they think of it as a potentially positive business development, but also maybe like a way to keep an eye on them? Yeah, there's also a standstill agreement on that board seat. Which is that he's not going to buy more than 15% of the company's shares. So he isn't going to buy half the company, you know, he's going to stop at 15% in order to retain that board seat. How does Elon respond to this effort to maybe celebrate him, but also contain him? Well, there were a bunch of weird tweets for a while. You know, he's tweeting stuff about Twitter is dying. That they should empty out the headquarters in San Francisco and turn it into a homeless shelter that Twitter blue is a bad product. Basically trashing the company that he's now the largest shareholder in. And there's some other things he's tweeting over the course of that weekend about like an edit button, which by the way, Twitter was already working on. And then after all of this like this weekend of really intense product suggestion tweeting, the CEO of Twitter drops a letter that he is just sent to his entire company that's like, oh yes, by the way, Elon has decided he doesn't want to join the board anymore. Really what it seems like is they wanted him on the board to be a fiduciary to the shareholders and employees of the company. And he decided that what he wanted was more drastic change. And then Elon's like, cool. Mosque is threatening a hostile takeover of Twitter for $43 billion. And is filing with the SEC, Musk says free speech is imperative for a functioning democracy. I now realize the company will neither thrive, nor serve this societal imperative in its current form. Elon's like, I'm willing to pay $54, 20 cents a share. A long time, Elon watchers will note that for 20 is the weed number. Happy four 20 to all those who celebrate. Also, the Tesla go private thing, he was going to take Tesla private at $420 per share. So like four 20 is clearly a very special number to Elon. Happy four 20. I mean, it's legal, right? What about this is hostile? What is like a hostile bid mean versus, you know, I'm buying 15% of your share kind of bit. Usually when you go to acquire all of the company, you have like a cool conversation with management. Everyone's real friendly, you work out like a bid that makes sense to management, makes sense to you the acquirer, like maybe you have some contracts for key personality you want to keep on typically these things are friendly. Like, there's like a bunch of meetings and, you know, your lawyers kiss their lawyers or whatever it is. Fine. But in the 1980s, there was this practice from corporate raiders like Carl icon. Icon is the man who's been changing the face of American business, which he threatened or actual takeovers of dozens of companies. They call themselves activist shareholders, but frankly, corporate raiders is a cooler term. Where they would go into a company and they would buy it out, they would trim the costs, they would make it look attractive, and then they would sell it to somebody else and make a pretty big profit. And that's sort of what the hostile process is. So Elon arrived at a number without consulting the board or doing any of the making nice playing footsie stuff. And.

Twitter Elon Musk Tesla Elon Jack Dorsey SEC Bernie Sanders Sean Rommel Musk Elliott management Liz Elliott capital management Elizabeth Warren SpaceX Agrawal Elliott
"elliott management" Discussed on MAD MONEY W/ JIM CRAMER

MAD MONEY W/ JIM CRAMER

02:48 min | 10 months ago

"elliott management" Discussed on MAD MONEY W/ JIM CRAMER

"Companies. Us advertising revenues up ninety percent year. Twitter's been focused on impervious modernization for over a year now ever since the activist investor elliott management. Once they got involved this time they really delivered hats off. The nazi will the cfo. Him is really good on top of that. The revenue guidance came in a lot better than expected. It doesn't hurt the twitter working new features like live audio superpowers. The tip jar and soon perhaps most important shopping functionality. Were you'll be able to buy products directly for brand twitter pitch now this could be the biggest initiative but too few people are paying attention to it. I think they've got a real good business in. The stock is bright future. Okay how about the one. That's kind of a real quandary. We're gonna explain it facebook. This pulled back. After earnings for one reason you expectations sky-high because it's been such a fabulous perform so in facebook reported trick top and bottom. Beat that you. Six percent rhetoric hybrid. What was that earnings growth boss. You really bad it instead. They only focused on the cautious guides. Dave winner i got. I got to meet that guy. Get him to focus. And look. I get it. Winter's night into hand claw. He's you know he's into. He's into hand smashing. He came out on the cops called. He said and i quote. We expect your total revenue growth rates decelerate significantly when ace quench basis as we latte period increasingly strong. Well then it got worse. We continue to expect increased ad. Target targeting headwinds heroines twenty twenty one from regulatory reform changes decelerating is bid significantly out. And that's why many investors figured this. This latest quarter is as good as it gets from facebook in the stock sold off. Oh contraire partner. I think you're listening to the rest of the school. There was a lot like magic told you about the new focus on content creators video. We are perfect stuff about the commerce business. Facebook instagram shops. I love those who came up with that where they're become an essential part for small business. Oh and by the way. Don't you dare sniff at the metaverse project. it's real my view. Facebook is by far the cheaper. This'll be a chip stocks in the big even bullets entire market even if the gross slow substantially the darn thing would still be real. Just a steel here. It traces twenty two times. Next year's earnings assessment. Twenty hard to believe isn't okay. Finally there's the toughest one pinterest which you know. i like. It'd been on fire going into last thursday nights earnings and remember. There have been rumors that microsoft wanted to buy them but then pinchers dropped the ball and dropped the ball pre stiffly and this top punch eighteen percent the next day what went wrong first of all. They're losing their audience. Pinterest monthly average user shrank by five percent versus the previous quarter. Came at four hundred million. This will perform eighty one million sub optimal that national told get worse one of the constable they said and i quote engagement..

elliott management twitter facebook Dave Us microsoft Pinterest
"elliott management" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:00 min | 1 year ago

"elliott management" Discussed on Bloomberg Radio New York

"Is in Hong Kong here. This hour's top is the stories and the markets. Janet Yellen has signaled the incoming Biden administration will keep up the pressure on China. In a confirmation hearing, Yellen said the U. S needs to take on Beijing's quote, abusive practices. Likewise, Secretary of State nominee Tony Blinken said Donald Trump was right to take a tough approach on China. Outgoing secretary state Mike Pompeo fired a warning shot as well. He's labeled Beijing's crackdown on the Muslim minority, weaker population as genocide. Hedge fund. Elliott Management reportedly plans to close its office in Hong Kong stuff We moved instead to offices in London and Tokyo. Elliot's been winding down its Hong Kong operations for several years. Sources tell us that stopped trading and investment activities in the city on January 1st. A bay may sell it. Online marketplace in South Korea. The company is growing at a slow pace and its rivals, including Amazon, eBay, is already sold off several units to focus more on its main U. S operations. 11% of its revenue comes from South Korea. Softbank has got the equivalent of a so waiting for the first time in more than four years, Morningstar analyst Damn. Vega has downgraded the company to a two stars. Softbank is trading around 8700 yen apiece. Baker's price target for the stock 7400 yen. And economists in Malaysia a split of whether the central bank will cut rates. On Wednesday, 12 respondents in a Bloomberg survey expect no change, while 11 predict a 25 basis. Point. Cut rates are at a record low 1.75% central bankers in Japan and Indonesia Judah Post decisions those day Looking at markets down. Stocks have broadly tracking us higher. Hong Kong is the standout. The Hang sang now very close that 30,000 level mainland stocks also hired by more than a percent Global news 24 hours a day on it, and I'm blue Book, quick take power by more than 2700, journalists and analysts in more than 120 countries in Hong Kong. I'm Annabelle Drollas. This is Bloomberg. This is.

Hong Kong Mike Pompeo South Korea Beijing China Janet Yellen Softbank Bloomberg Hedge fund secretary Annabelle Drollas Biden Elliott Management Donald Trump Tony Blinken Amazon Elliot Malaysia
"elliott management" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

01:43 min | 1 year ago

"elliott management" Discussed on WBZ NewsRadio 1030

"Thing was just Placing our orders because we normally do around June somewhere in there. Initially actual waited till August. The National Retail Foundation estimates there will be $8 billion in Halloween spending this year down about 10% from 2019 Krystle, the CBS News It's 12 37 time for a check now on business with Bloomberg. One of the biggest drivers of growth for social media has something in common with Keyser Soze. A like that Disappearing posts. They make up 10% of Facebook's ad revenue More than 500. Million people use them on instagram stories. They compete with snap, which built its entire business model on the idea. Now Twitter's testing its version of online ephemera, calling it fleets as in fleeting tweets. Twitter is in a place where they especially need to accelerate their growth. Bloomberg Tech reporter Sarah Friar says it's been years since Twitter's last innovation when it doubled its character limit to 280. Now CEO Jack Dorsey is under pressure from act. Serviced investment firm Elliott Management to perform or face the boot. Friar says Twitter's testing fleets in Brazil hoping to replicate Instagram success there without looking like a copycat, but no love story. I was there last year and people post like 80 post today. Their instagram stories. I'm Nathan Hager Bloomberg Business on W. B z. Boston's News radio covering Wolf Roll Lexington Whitman Way Know where You Live? Easy. Boston's NewsRadio. Coming up at 12 45, Liz. Oh, campaigns for her candidate. Let's.

Twitter instagram Bloomberg Sarah Friar Boston Bloomberg Tech Bloomberg Business CEO Jack Dorsey National Retail Foundation Keyser Soze Facebook Krystle Nathan Hager CBS Elliott Management Liz Brazil reporter
"elliott management" Discussed on NewsRadio WIOD

NewsRadio WIOD

03:47 min | 1 year ago

"elliott management" Discussed on NewsRadio WIOD

"Beach. Elliott Management is a $40 billion firm and its joining a growing list of funds that have moved to Florida for its favorable tax policies. Apple might be open to moving more of its supply chain to the United States, but the iPhone maker wants incentives from Washington. Disclosure reports filed by Apple's show that the company has been lobbying the Treasury Congress and the White House for tax credits for domestic chip production. Shares of Chipotle Mexican Grill declined in after hours trading, even though quarterly sales for restaurants open a year or more were up more than 8% from a year ago. Delivery accounted for a big share of the increased sales that boosted costs and cut into profits. Fewer customers visiting also meant to drop in profitable beverage sales. Jimmy back to you. All right. Thanks very much was only October Halloween still more than a week away. But a new LendingTree survey found that at least 25% of Americans say they've already finished their holiday shopping quarter. Among parents with Children under 18 44% and finished their holiday shopping. Nearly 50% of those with household incomes of at least 100,000 bucks are already done by 28%. So they've started holiday shopping but haven't finished yet. Nearly half Evan started. That's me. Miami lawyers accused of also being a serial bank robber. Aaron Honaker was arrested this week for allegedly trying to rob five banks in the last month in Coral Gables, and haven't Tura 41 years old, he said. To have admitted he was planning is, according to police. This is there's flying to rob another bank At the time of his arrest Tuesday night, police say Honaker was only successful into his alleged robbery attempts. And they say We made out for over $1800. I saw that story and I just I felt bad for him. Yeah, There's something wrong there. You know what I mean? Is educated guy. Obviously, the ability to make money and the resorts to this for for $1800. This one perplexes me Manning. Anyone who watches the real Housewives knows the house wives like to get their drink on. Now fans conjoined in at home with an official wine Bravo is launching the first official wine collection. There's the real house read the Real House. White and the Real House rose A. Why now? Well, the launch of the networks latest franchise, The Real Housewives from Salt Lake City premiering November 11th. Well, they don't drink. Currently, these women do. I don't think so. You could drink. I've tried to get a drink in Utah. Did you see the commercial The to the two guys were running for governor in Utah. They decided to do a commercial together. They're running against each other. But they decided to do a commercial together. Talking about how you know we can still be civil in our politics in this country and disagree about things, but You know, call for civility, things like that. Is that Moritz? That Mormon, You know, culture. It's a nice people. I thought it was great. I thought it was a great and I would love to see 50 of those. Man. Somehow, I don't think there's even Florida. We're going to see too many states and they're going to need a Washington D. C that's for sure. Now. You sure is there like a seed in Michigan? Pennsylvania now, boy. It's been, You know, the ugliness of politics is made many of us just turn it off completely. I'm actually looking forward to the end of this election. Whatever happens, I don't much care anymore. Whatever happens, happens, you know, I'm a little worried about the financial side of things of Biden wins much worried about that. But Look, just Let's get in our rearview mirror and just move on. 7 56 Man you've got some sports is forcing Jimmy Ryan Fitzpatrick said It was heartbreaking when Dolphins head.

Aaron Honaker Jimmy Ryan Fitzpatrick Chipotle Mexican Grill Apple Florida Real House Beach. Elliott Management White House Utah United States LendingTree Evan Washington Treasury Congress Miami
"elliott management" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:38 min | 1 year ago

"elliott management" Discussed on Bloomberg Radio New York

"Courtney Done. Hold on. Karol de in Dallas, Exxon plants to lay off on unspecified number of employees know they're some of the stories are 2700 Bloomberg journalists and analysts working on this morning around the world. Today, we get the latest reading on the pandemics impact on the economy. Economists predict initial jobless claims remained elevated at 870,000 and herewith Maura's Bloomberg's Vinny del Jude ice in the prior report. Initial jobless claims rose to the highest since orchestrate 198,000 about four times higher than just before the pandemic. Bloomberg Economics is recent data indicate October payrolls could be poised to decline. Why moderating economic growth? The Census Bureau discharging workers and many retailers have been slammed and he dealt you nice. Bloomberg. Daybreak. Vinnie. Thank you. Another big name in the hedge fund industry is bolting New York for Florida, sources say. Paul singers, Elliott Management plans to move its headquarters to West Palm Beach from midtown Manhattan with no individual income taxes, estate taxes or capital gains taxes. Florida Has become a hot destination for hedge funds in recent years, and cyber security software maker McAfee has returned to the stock market. The company raised $740 million in an AI Po priced within its targeted range. Mac If he's valued at about $8.6 billion, it was purchased by Intel in 2010. Later, a controlling stake was sold to investment firm TPG SNP futures lower by nine points down futures down 79 NASDAQ futures down 41 points this Is Bloomberg. The doors are opening. When is that moment out in the distant future? Some things will be as they were.

Bloomberg Bloomberg Economics Florida Paul singers Census Bureau Exxon Vinny del Jude TPG SNP Courtney AI Po Dallas Maura McAfee New York Elliott Management West Palm Beach Intel
"elliott management" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:51 min | 2 years ago

"elliott management" Discussed on Bloomberg Radio New York

"This is Bloomberg business week with Carol Massar and Jason Kelly from Bloomberg radio activists out in full force this year especially the hedge fund Elliott management which is involved in two well known companies one of the companies making news this week another case of course the feature story in the magazine this week well in the news this week the scoop by Bloomberg as given by the guy who's sitting with us here in New York City to heart attack team got the stock moving got a lot of people talking including probably I think it's safe to say Jack Dorsey got to vote with us in New York what's going on at Twitter well at least taking a stake obviously and we broke the story on Friday night essentially that they've taken a stake nominated four directors and now want to push Jack Dorsey added the CEO role okay so wow yeah I mean that's a that's a big headline and certainly stopped a lot of people in their tracks what's the case well the case is pretty simple I think it's something that's been made a few times is that Jack has he is one of the only people in the world to run to publicly traded gigantic publicly traded companies right he runs square he also runs Twitter and you know late last year he said that he also wanted to spend up to six months a year working in Africa and so I think the argument is clear and and that you know he has a lot of things going on obviously as some divided loyalties between the two companies and that Twitter is something that needs a full time CEO particularly now we're going to major events like the U. S. election summer Olympics we got the corona virus going on and while those are really great for you know tweet activity what they do also is create Twitter users and advertisers so what does L. at one I mean they've amassed what about a billion dollar position insurance whether it's a little bit more than that more than a billion yeah so what do they want specifically do they want to receive out no doubt about it yeah I mean that's the there's the simplicity of this argument is that and and that's why I think it resonates did with you know so many people around it is that the this is singular argument right you need a seo that will run this company and you know well they think that you know they they shares have underperformed you know relative to Facebook and what have you they do take a lot of that on the fact that Dorsey is as you know divided loyalty but also you know there is a Rolling Stone magazine article it kind of last year sometime where he said that he was getting eight a half hour sleep at night so running running too you know one thirty five billion dollar company one twenty five billion dollar company and getting more sleep than I do in a night right now so but I think that's a really interesting point too because so often an activist comes in and says you know the company needs needs to explore strategic options because they need to do this they need to explore all these different things they need to undertake this review this is like boom we need to bounce this guy yeah and I think part of the argument is also that you know Twitter hasn't innovated in a way that right a lot of its competitors have so it's always stuck to its kind of core model and core platform where as you know snap or Instagram even tick tock seem the be more innovative and creating more consumer friendly products all right so meanwhile down in Union Square not far from where we are it kind of ground here to some extent of what's going on with Barnes and noble yeah also involving L. goodness gracious and busy yeah so you'll recall last year Elliott through its private equity arm acquire Barnes and noble and you know they've they've written didn't do a whole bunch of change in the lead up to the holidays because they didn't want to mess with sales at all but now that we're in the new year are starting to implement all these changes in the Barnes and noble chains so that's what what we're hooking this story on that's in business week this week well you know and let's just take a step back because before getting to kind of where Barnes and noble maybe going in the future and who may be instrumental in determining where it goes tell it remind us I mean Barnes and noble was the behemoth when it came to selling books or Amazon yeah you've got mail right thank that was that was the lady that went as soon as you become famous and they make like a fictionalized version of your business right and so that was the you know at the the the peak of what Barnes and noble lies there is you know we said in the stories like this socializing tion of a Starbucks with the the sales tactics of a you know a dealership bargain basement dealership and so when Barnes and noble is like coming up in the nineties and early two thousands they you know they were the big kid on the street right and that they had you know they're pushing all these independent stores and all of the smaller chains out of the way and then of course we know what happened then Amazon started selling books right and it and the E. reader started to come and all these all these challenges ended up beating up Barnes and noble right in the same way Barnes and noble is beating up on everybody else and that's got to go all over the activism beat here at Bloomberg and that's taking him inside some of the world's best known companies Twitter obviously in the news this week the Barnes and noble that's a story I didn't fully understand until I read this piece well I think that makes a really good point when we sat down and talked with him and he says you know it has about forty billion dollars to the place when they're going to do it it's not going to be small and no companies it's going to be those household names this company names that we know and that's exactly what they're doing and another company very much in the news that Elliott has its eye on is something you're listening to Bloomberg business week coming up sitting down with any cedar rector Larry Kudlow as the markets go on a roller coaster.

Carol Massar Jason Kelly Elliott management Bloomberg
"elliott management" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:50 min | 2 years ago

"elliott management" Discussed on Bloomberg Radio New York

"This is Bloomberg business week with Carol Massar and Jason Kelly from Bloomberg radio activist out in full force this year especially the hedge fund Elliott management which is involved in two well known companies one of the companies making news this week another case of course the feature story in the magazine this week well in the news this week the scoop by Bloomberg is going by the guy who's sitting with us here in New York City name got the stock moving got a lot of people talking including probably I think it's safe to say Jack Dorsey got to vote with us in New York what's going on at Twitter well at least taking a stake obviously and we broke the story on Friday night essentially that they've taken a stake nominated four directors and now want to push Jack Dorsey added the CEO role okay so wow yeah I mean that's a that's a big headline and certainly stopped a lot of people in their tracks what's the case well the case is pretty simple I think it's something that's been made a few times is that Jack has he is one of the only people in the world to run to publicly traded gigantic publicly traded companies right he runs square he also runs Twitter and you know late last year he said that he also wanted to spend up to six months a year working in Africa and so I think the argument is clear and and that you know he has a lot of things going on obviously as some divided loyalties between the two companies and that Twitter is something that needs a full time CEO particularly now we're going to major events like the U. S. election summer Olympics we got the corona virus going on and while those are really great for you know tweet activity what they do also is create Twitter users and advertisers so what does Ellie at one I mean they've amassed what about a billion dollar position insurance whether it's a little bit more than that more than a billion yeah so what do they want specifically do they want to receive out no doubt about it yeah I mean that's that's the that's the simplicity of this argument is that and and that's why I think it resonated with you know so many people around it is that the this is singular argument right you need a seo that will run this company and you know well they think that you know they they shares have underperformed you know relative to Facebook and what have you they do take a lot of that on the fact that Dorsey is as you know divided loyalty but also you know there is a Rolling Stone magazine article it kind okay last year some time where he said that he was getting eight a half hour sleep at night so running running too you know one thirty five billion dollar company one twenty five billion dollar company and getting more sleep than I do in a night right now so I think that's the argument but I think that's a really interesting point too because so often an activist comes in and says you know the company needs needs to explore strategic options they need to do this they need to explore all these different things they need to undertake this review this is like boom we need to bounce this guy yeah and I think part of the argument is also that you know Twitter hasn't innovated in a way that right a lot of its competitors have so it's always stuck to its kind of core model of core platform where as you know snap or Instagram even tick tock seem the be more innovative and creating more consumer friendly products all right so meanwhile down in Union Square not far from where we are it's kind of ground zero to some extent of what's going on with Barnes and noble yeah also involving Ellie goodness gracious I'm busy yeah so you'll recall last year Elliott through his private equity arm acquire Barnes and noble and you know they've they've written didn't do a whole bunch of change in the lead up to the holidays because they didn't want to mess with sales at all but now that we're in the new year are starting to implement all these changes in the Barnes and noble chains so that's what what we're hooking this story on that's in business week this week well you know and let's just take a step back because before getting to kind of where Barnes and noble maybe going in the future and who may be instrumental in determining where it goes tell me minus the Barnes and noble was the behemoth when it came to selling books or Amazon yeah you've got mail right thank that was that was the lady that went as soon as you become famous and they make like a fictionalized version of your business right and so that was the you know at that time the the peak of what Barnes and noble lies there is you know we stayed in the stories like this socializing tion of a Starbucks with the the sales tactics of a you know a dealership bargain basement dealership and so when Barnes and noble is like coming up in the nineties and early two thousands they you know they were the big kid on the street right and that they had you know they're pushing all these independent stores and all of the smaller chains out of the way and then of course we know what happened then Amazon started selling books right and and the E. reader started to come and all these all these challenges ended up beating up Barnes and noble right in the same way Barnes and noble is beating up on everybody else and that's got to go all over the activism beat here at Bloomberg and that's taking him inside some of the world's best known companies Twitter obviously in the news this week but Barnes and noble that's a story I didn't fully understand until I read this piece well I think that makes a really good point when we sat down and talked with him and he says you know early it has about forty billion dollars to the place when they're going to do it it's not going to be small unknown companies it's going to be those household names this company names that we know and that's exactly what they're doing and another company very much in the news that Elliott has its eye on is something you're listening to Bloomberg business week coming up sitting down with any cedar rector Larry Kudlow as the markets go.

Carol Massar Jason Kelly Elliott management Bloomberg
Twitter CEO Jack Dorsey could be ousted by activist investors

Squawk Pod

00:54 sec | 2 years ago

Twitter CEO Jack Dorsey could be ousted by activist investors

"Media reports say Elliott Management is taken roughly one billion dollars stake in twitter and nominated for directors to the board Elliott which is known for its activist. Campaigns has been in talks twitter's management about its desire for the company to find a full-time CEO twitter's Jack Dorsey also CEO of Square of course and he said last year he plans to move to Africa for three to six months this year. There's a Lotta talk over the weekend about whether this was a political move because just connections with the president but this seems like a pretty easy woman. Ceo has two jobs and he says he's moving to Africa these because it was a pretty easy target by saying you're going to go to Africa for three to six months. Easy time for one of these guys to step in and say Let's pay square. A square is a big company. I started it was kind of this thing I have on the side maybe promising. And so it's it seems like it's at least one job.

Twitter CEO Jack Dorsey Africa Elliott Management Square Of Course Elliott President Trump
Softbank's Vision Fund 2 stalls as key backers opt out

Bloomberg Surveillance

03:43 min | 2 years ago

Softbank's Vision Fund 2 stalls as key backers opt out

"Meanwhile we've got a real focus on softbank's earnings came out overnight and there is a question just about their governance structure the relationship is going to be with Elliott management wishes took an important purchase of shares in softbank but really for a lot of investors the focus is on the vision fund which has been in one of the biggest drivers evaluations and silicon value it posted a loss a two billion dollar loss in the quarter how big of a deal is this at a time when there are a lot of questions about the we works and you know and and some of the other companies Airbnb which is gonna IPO later this year and and had a loss in the fourth quarter well I think it's fundamentally gets to Elliott's problem itself banks say your alley at having now taken a three billion dollars stake it's sort of view is that of division fun is that you're very small part of softbank's actual business and yes it consumes a hundred percent of the oxygen that whenever we talk about softbank we don't we seldom you name mention his name without mentioning the vision found in the same breath the reality in the most of its valuation concert steak and and Ali Baba it also has publicly stakes in it's sort of a part of us carrier in Japan's softbank easy sign my ball carry it in Japan it also has stakes in you know Allman a bunch of other companies and the value of their stakes is perhaps two hundred seventy billion dollars that is significantly more than the act the value of softbank itself and yet did one of the and and and the one the reasons for that discount is actually because people look at the the the hate cops and the snafu of of of we what and they think of next this company has Sirius corporate governance issues what moron and telling us how do you know if people are listening we thank them for listening all the time rate Alex do they have any transparency on this this massively opaque company I mean does anybody really know what softbank's accounting is known and that's what I'm increasingly someone says something to his feet hurt but on but ultimate that is one of the things that rule say complaining about the good will the bed will the LX web will whatever you want to call it does anybody really understand the intangibles involved here it certainly a big office into one of the criticisms is that a lot of people within softbank of people came out of Deutsche Bank I'm responsible for structuring a lot of the the needed financial products they had in the run up to the crisis and the people that if people have been quick to draw comparisons between the two that's why Ellie is also for better transparency I think isn't Saudi fat to mom do you know there is one criticism is that the it for argument's sake let's not quite clear that they do this but an occasion is that they you know you invest in a company what is valued at billion and you throw in two hundred million to an eighteen months later you invest in the same boat company at a four billion valuation but you any during fifty million all of a sudden a hundred fifty million valuation one fifty million investment has become part four hundred fifty million in book value on this pretty hard now the something would offend this by saying well there are other investors to invest the same valuation at a later date but it doesn't always smell right and that has some seems to pop common stock in some of these investments not least we work and Elliott sang body just constant on the main business use of capital to buy back the note on the pin the value of the property traded stock you have in Japan and that's a fall but a way of generating turns your existing investor base time adjuster this happy unrealized gain on investments at the vision find shrink a five point two billion dollars which is less than a third of the paper profit that softbank every six months ago those who have thank you

Softbank
"elliott management" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:16 min | 2 years ago

"elliott management" Discussed on Bloomberg Radio New York

"Thank you with them for your support let me small Tiffany's E. X. P. E. N. S. I. V. David Wilson and Tiffany's well I got another spelling for you LVMH absolutely you know the jewelry retailer Tiffany up almost thirty two percent after being targeted and a fourteen and a half billion dollar takeover offer from LVMH that the French luxury goods maker one of the proposals valued at a hundred and twenty dollars a share and right now Tiffany is at a hundred and thirty so this is going to be a deal worth watching clearly people want more than LVMH is offering at least initially so I have that Microsoft up two and a half percent the software maker beat out Amazon dot com to win a ten billion dollar cloud computing contract from the Pentagon a person familiar with the matter said Amazon they challenge the war because of president Donald Trump interference in the building Amazon shares down about three quarters of a percent turning to earnings eighteen antes up three and a half cent yeah the phone media company gave an earnings forecasts for twenty twenty two that beat analysts' average hello yeah that's a that's a grass well they've got this three year plan you know that among other things are going to be separating the role of chairman and CEO yeah and it's all supported by activist investor Elliott management which came out last month disclosed a three point two billion dollar steak David I promise to do this I went back to Tiffany I did three standard deviations of the up trend on Tiffany back to the financial crisis and it locks in it's just under a hundred and fifty dollars a share rule would be the level of up up up how much is up that's one way to look at it that's gonna get an investor bankers pitch book saying Tom Kean I don't know about that but one twenty to one thirty is not that far to one forty eight no that's true and moving on Walgreens boots alliance is up one more well the drug store owners already for the fiscal fourth quarter exceeded estimates pharmacy sales at U. S. locations opened more than a year also top projections big reason why.

Latest from the Stock Market

CNBC's Fast Money

10:10 min | 2 years ago

Latest from the Stock Market

"I'm Melissa Leo Best Carter Worth Tim Seymour's Karen fighter men and guide dominated Tommy. The countdown is on its apple's big event tomorrow. Will it be enough to convince enthusiasts the world over to trade up in the middle of trade war also ahead activists investor. Elliott management taking a three billion dollar stake in at and T. A. Saying ix nay on the bank they see a sixty percents upside potential traitors take a second look and Boeing pausing using stress tests on its new triple. Seven after issue is discovered. We've got the details ahead. We begin with the Big Bang breakout on the day. The S. and P. Five hundred ended in the red checkout. He's he's moves from City Bank. America Wells Fargo David Morgan all firmly in the green for wait a minute. It was just a few days ago. The racer plunging yield curves inverting cats and dogs living together together and now look so the banks turned a big corner guy this desk by the way cats and dogs living together guy who's not sorry sorry who had a cat or a dog. I guess well how good question to answer on TV well. Let's go to the marketplace Sultana think they've turned the corner at all but what happened is everything got a little ahead of itself and it's not like we haven't talked about this. We're not saying this in a vacuum. Go back Tuesday. I think before Memorial Day we actually power-pitch some of the banks specifically it was city saying that you know what boring markets slow week into a holiday markets probably GONNA rally the toto's probably gotten and ahead of itself when city trades that discount to tangible book historically over the last couple of years. It's been a buy and that's pretty much what's happening. I mean I don't think again. The landscape has gotten better for the banks. Necessarily just the trading landscape in the short term has so the city have more room yeah probably overshoot seventy two like it undershot to sixty one but I think the the headwinds that they faced still exists today are some rays of sunshine based on what the CFO told the Barclay Financial Services Conference today that they expect growth in the back. AH The year that there are other parts of the business that can offset some of the losses or the softness in sort of the rate sensitive businesses so can you sort of extrapolate that some of the other brings thinking. Maybe things aren't as bad as people thought yeah I think I think that what the price they were trading at before. Two days ago really reflected a lot of things so I don't think I more that a lot of bed extra too much penalties there. I think if you think about where Citibank was trading you know well under ten times earnings a three percent yield. JP Morgan tend to change times earning a three and a half percent yield Bank of America under ten times earnings. I mean that's a lot about news priced in and their business models aren't all interest income right. There's a lot of other income in there as well so I think you know the market just saying Oh the whole book of Big Money Center banks is a giant two year tenure spread it must be going to zero didn't make sense. I'm not selling them here. I think they're still attracted. I'll actually question because we've had one kind of from a market position. Technicals Protective Talk and fundamentals. I'll talk to you the context of the overall market this this could you could make a comparison to the first quarter twenty sixteen when we're worried about global growth and banks essentially got through this period where once we got the sense that recession was off the table banks want on argue a very historic run for them relative to at least the cycle. Citibank's up thirteen percent eight days. It's up close to sixteen percent in sixteen days if you look at the X. L. F. It's basically kept pace with the SNP. Despite all of the things things that have happened to bank so the most important thing that happened today and I hate hyperbole may but I will tell you I think this is one of the most extraordinary trading days of the year that no one's talking about impressive was flat and yet you had banks three percent. You had expertise three and a half percent. You would transfer this is a major day for the march is not about the banks banks right. It's a behavioral thing. Is You look at the one hundred. What was the best performing stock the more beaten down. You were the better your slumber J. Lead. You Got Simon Property. You've got things like I mean in hindsight which is literally down eighty percent. Ge in the top ten so it's it's not a bank story although it is that's part of the story because they matter the most. It's simply dead. Cat bounces and dead cats do bounds but do they really come to life. No they're still dead heartbeat. It was more about deflation isn't as bad as you thought. I'm not going to tell you that deflation because I believe it's there's some stuff as leftover from the crisis but but deflation as it was exemplified and illustrated through bond yields around the world through gold going through the roof through everything else that was related to acid replacing going through the floor. The rally today are asset based their reflationary based and that's very exciting sites the retail these are retails that won't exist at some point in three five seven whether it's an urban outfitters. Tayo Ay and it's again it's it's it wasn't specific the banks the fact that it was craft. Ge tells you it was just an unwinding. If there's two sides here on this side of the desk extraordinary training day or just dead cats that's bouncing to make extraordinary trading day in terms of the move in yield terms everything he pointed out was extraordinary the context of what we've seen but I tend to sort of I I well. It should come as no surprise ten more with Carter Worth. I do think these are bounces within the framework of things that have just been oversold. I mean you mentioned Simon Properties. These go back and look where it bottomed out in April. Two Thousand Eighteen look where recently bought them at so you can understand the bounce slumber. J. has been left for dead. I mean we've talked about it. Seemingly for a year and a half trying at least I have tried to ascertain when the bottom would be unsuccessfully. We've seen moves like this before. This will be so again. I guess the fact that the SNP when he was unchanged today bowls could say what that someone constructive bears could say it should have been up twenty five handles on a day like today the other flipside of what happened today was growth oath at any price which had been where everyone wanted to go no matter what terrible complete reversal names like crowd strike or zoom right just absolutely getting annihilated highlighted today so you're just a rotation is just everything that didn't work now pile into that everything that did work time to bail but the question is exactly. I can't can't be in a crowd strikers in there too expensive. They're expensive. Yes two days ago even down ten percent too expensive for me. I think would momentum goes out. Those kind of names have were down to maybe more it's not. It's not terribly surprising that a crowd strike in company and their ilk are going down. Maybe on a daily today or just not rallying as much what's been interesting. Is that Koogle Amazon anything. That's been defensive relative momentum but actually you know they. They tend to be low momentum. Stocks in in difficult times in the market are under performing to Carter cares rights talk about. I don't know anything changed slumber J. in the last week in fact I think lenders as got some tough times ahead of them but when I look at some of the other parts of the market including the transports that are very real companies that are not going out of business that I don't think they're dead. Cat bounces. I'm not saying the world has gotten better in two days. I'm I'm telling you that it's always about positioning. It's always about where I think. The market momentum is we've got an ECB meeting coming up in a few days it's also going to I think help tell the tale of work. Global yields yields go because I think that the European Union is the one that was dragging global yields down and we know that the machines momentum is on both sides momentum down or some momentum up in if I go and when it flips. It's the you get these levers going on both sides but it doesn't usually last that long. At what point do you think I mean. Would you would take a lot of time and a lot more of this kind of thing. Because we saw the bouncing we saw in the certainly bouncing today. You just need in a lot more than I I agree cars. I don't think anything can you can't say suddenly it's it's all good for all these things that have underperformed for long time but for the last three weeks we've seen the DAX ax outperforming the machine emerging markets outperformed so This isn't a one day phenomenon today. It was a bit of an exclamation point on things that really suffer from deflation all right her neck. Scott says you may WanNa pump the brakes on the banks especially ahead of next week's. Fed Meeting joining us now. Steve chaperone equity strategists portfolio manager at Federated Investors Steve Great Great to see you again. so is it just the banks or is it all of these sectors that were dead cats bouncing Carter. I don't know if I'd do as far as the dead cat I. I'm somewhere in between I think Carter and Tim here and what I mean by that is it's very enticing when you look at the move in the banks today and you put it in the overall context then that context has rate rates bottom two weeks you go and have moved higher. The city surprise index bounced into positive territory week ago and value in general has moved up so there's an inclination to want US okay this is. This is the move in the value cyclicals that we've been waiting for. I think you need a little bit of confirmation on that. I think you need see what the Fed does in a week. I think they need to deliver against market expectations I think. ECB similarly has to at least provide some some delivering. I think this meeting is not as important as the one that comes in November when Christine lagarde takes over but move the ball forward and then I think you need the data that continue to come in strongly. If what we're talking about is a global reflation trade because the stimulus that's been put in the system helps the economy to move in the in the back half of the year. That's incredibly bullish and so I'm enticed by it but I'm not willing to kind of jump all in on it just yet so how are you. How are you positioned in the market right now. It sounds like like your you want to see how the data plays out. It sounds like you think I mean the federal probably cut twenty-five deliver on something that's sort of in the expected realm the the data is a little bit of a question mark at this point. So what do you do you think about the market right now is really a battle between the P and the right the P. should be higher. We've taken the discount outrage for stocks and we've cut it in half the only reason why the market isn't higher is because the market's concerned about recession and so they're worried about that e part so I think what it really comes comes down to is how our earnings gonNA come through and that's why trade matters. That's why Hong Kong brexit matters our view. Is that our base case. Scenarios earnings are going to be okay. They're going to be flat right to slightly up. You're going to get a revaluation higher because of those lower yields and that's where you play out over the next six to twelve months however over the course of the next month or so. I WANNA WANNA see how that goes. I want to see how the Fed goes. I WANNA see how earning season so when we were here earlier in the year we were eight percent overweight.

Carter Citibank David Morgan FED Tim Seymour Apple City Bank Melissa Leo GE America Hong Kong Elliott Bank Of America ECB Boeing Sultana Big Money Center T. A. Toto
Trump says it's 'great news' activist investor involved with AT&T because CNN is 'bad for the USA'

Chris Plante

00:59 min | 2 years ago

Trump says it's 'great news' activist investor involved with AT&T because CNN is 'bad for the USA'

"President trump has been very critical of CNN now he's praising news this morning trump is that there may be a buyout of C. N. N.'s parent company AT and T. there's an activist investor Elliott management's thinking about taking over AT and T. trump tweeted great news that an activist investor is now involved with A. T. and T. as the owner of very low rating CNN perhaps they will now put a stop to all of the fake news emanating from its non credible anchors of course CNN has been very critical of trump in their coverage Christine Romans with more on this. Ellie had management proposal for AT and T. and a letter to the board Eliot call Time Warner quote spectacular company then questioned eighteen tease a strategy here's a language eighteen T. has yet to articulate a clear strategic rationale for why eighteen T. needs own Time Warner well it's too soon to tell whether a TT can create value a Time Warner we remain cautious on the benefits of this

T. Trump Time Warner CNN AT Elliott Management Christine Romans President Trump A. T. Ellie Eliot C. N. N.
In a Real-Life Page-Turner, Buyers Fight to Buy Barnes & Noble

Business Wars Daily

04:19 min | 3 years ago

In a Real-Life Page-Turner, Buyers Fight to Buy Barnes & Noble

"The business wars daily is brought to you by Staples work is changing, but Staples is changing right along with it. The new Staples delivers solutions to help your team be more connected productive, and inspired. Learn more at Staples dot com slash change. From wondering, I'm David Brown. And this is business wars daily on this Thursday, June thirteenth, it's a question. We've been asking for years. What does it take for a bookseller to survive in the age of Amazon, and we may soon have an answer Barnes and noble? The beleaguered bookstore chain is up for sale last Friday at announced that it had struck a deal to be acquired by the owner of the UK bookstore chain Waterstones for about six hundred eighty three million dollars more than two hundred million dollars of that value is the assumption of Barnes and noble debt. It turns out, though, that the brick and mortar book business may be more desirable than most investors assumed on Tuesday. The Wall Street Journal reported that Barnes, and noble may have another suitor a book distributor called reader link, the journal reported that reader link may bid higher than its rival Waterstones owner, Elliott management corporation, a hedge fund, reader link could. That bid as early as today or tomorrow because Barnes and noble would face a penalty for ditching its deal with Elliot, it would have to pay the hedge fund four million dollars. If it pulls out by Friday after June thirteenth, however, that break-up penalty would climb to more than seventeen million dollars though, not a household name almost every book lover in the country has been touched by Chicago based reader link. It is the nation's biggest distributor of books to mass market change like target, WalMart and Costco, since its beginning with a single bookstore in New York in nineteen seventy-one Barnes and noble grew by offering a high volume of books and undercutting the prices independent stores could offer Amazon's growth made that strategy, largely obsolete and the company faced many management challenges as well today, it is squeezed on one side by Amazon, which reportedly sells fifty percent of all new books and independent bookstores which are growing after closing many stores. Recent years at now has just six hundred twenty seven locations nationwide publishers, and literary agents which still rely heavily on the existence of Barnes and noble appeared to breathe a sigh of relief. At the news of the Elliott sale last year. The hedge fund bought Waterstones the UK's biggest bookseller Waterstones had been losing money for years under new ownership. It's now turning a profit if the Elliott deal goes through Waterstone's, CEO, James daunt would also run Barnes and noble. The hedge fund announced the Daunte would plan to turn the American chain around by allowing individual bookstores more autonomy to serve their communities. Making Barnes and noble run more like a large collection of independent bookstores, no word on what reader links strategy would be yet. But already this story's turning into a real page Turner. I'm wondering this business daily. Hey, listen, if you like our show shirt with a friend. Would you send a tweet in Email, posting Instagram? And hey, thanks much. I'm David Brown back with you tomorrow. Business wars. Daily is brought to you by Staples. The world of work is changing faster than ever before a week ago open floor plans were in. Now, they're out the pace of our evolving work lives can feel overwhelming. But Staples can help not the old stables, but a new Staples that delivers solutions to help your team be more connected productive, and inspired work may be constantly changing. But Staples is changing right along with it to support you. Learn more at Staples dot com slash change.

Barnes Staples Staples Dot Amazon David Brown UK Elliott Elliott Management Corporation Walmart New York Chicago Elliot The Wall Street Journal Turner James Daunt CEO Costco Waterstone Six Hundred Eighty Three Milli
"elliott management" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:33 min | 3 years ago

"elliott management" Discussed on Bloomberg Radio New York

"Is a Bloomberg business flash. Bloomberg world headquarters, I'm Charlie Pellett. The Dow the s&p NASDAQ are all advancing right now, we do have stocks of the best level of the day, let's head right over the first word breaking news desk for today's afternoon. Call Harry is Bill Maloney and good afternoon show. That's right, US, stocks trading higher and spike this afternoon. On report, the US is weighing delaying the Mexican tariffs. Douse now up one hundred sixty four points, Espy's gained seventeen while the NASDAQ climbs by thirty three the US ten yield a two point one three percent, small caps, underperformed dropped five points, but nine of the main eleven as we sectors trading highlight by gains, energy materials and technology only real estate, and industrials fell Nasr about text fall, twenty eight transports, sink one hundred four points, semi's or higher by one point three percent, and the vix is little changed leaders in the Dow, Chevron Jane J an Exxon Mobil, while travelers led to the downside after earnings at home. Plunged as much as fifty seven percent. And in deal news, Google is buying a looker for two point six billion to expand their cloud, offerings and Barnes and noble, soared thirty percent on report. It's nearest sale to Elliott management, wrapping things up beyond meat reports after the bell live for the first word breaking news desk on Bill. Maloney, shall we? Thank you very much, Bill. And to hear live breaking news over your Bloomberg type squawk. S. Q. U A, W K on your terminal. I'm Charlie Pellett than that is a Bloomberg business flash. Charlie, thank you so much..

Bloomberg Bill Maloney US Charlie Pellett Exxon Mobil Elliott management Espy Chevron Jane J Google Nasr Harry Barnes fifty seven percent one three percent thirty percent three percent
"elliott management" Discussed on WAFS Biz 1190

WAFS Biz 1190

04:17 min | 3 years ago

"elliott management" Discussed on WAFS Biz 1190

"It is a great start to the trading week Annabel after we heard that news at the US and China at close to a deal that could see the removal of US you got shot as market leading the gains the CSI three hundred in afternoon trade up by two point six percent. Remember a week ago it rose by six percents to enter into that bull market territory, and some very strong moves and volumes coming through in Chinese markets today. The Shanghai called the rising above three thousand points for the first time since June. You can see it's a broad based risk on. No, we've got a week. Again. The Nikkei the up by around one percent. There has been a little bit of weakness coming through in some of the semiconductor stocks. I South Korea underperforming. The last time. It traded was when it had that very big slump coming through on Thursday when the Hanoi summit was abruptly ended and the Title IX also under a little bit of pressure with India's market is closed for a public holiday. And when we look at the currency markets. We know, of course, menace that the dollar is on the back foot because of those Trump comment. But you've seen a lot of movement coming through in the in the on and off show sessions on the back of this trade optimism. What are we going to do whenever this trade deal signed? We're going to run. I don't know what you're gonna do. Maybe we're going to have this beauty up that you're taking a look. We certainly need all the beauty tips that we can get what does this up that you lick it out. Is it going to help me? I think it's I'm sure it's one that you've already got on your fine Madison to which helps yourself as look even better is the front runner when you look at the function today. Now, this is on the back of the fact that we've seen this huge rally in video and content maker so app makers in China after Beijing announced a four year plan to really boost that sick to see seeing a lot of outperformance coming through in the tech space. I to switch it out though. And have a look at the negative. Loses. I should say in the region, and then mostly in Seoul in the car space. You've got your measure and also under pressure. Now, this is after pulsing as Elliott management has gone on the front foot again really urging shareholders in these companies to back his plans they'll have this on there on March twenty second. So really stepping up that fight with guns is family after they blocks that eight point eight billion dollar merger last year menace. Thank you. I'm dying loading the app as we speak Judas holiday. Latest from Singapore studio now Riyadh-based I'll tell you travel group has climbed the highest level since July and bets that eight kid benefit from the sound of its stake in the ride hailing company Kareem Middle East equities reporter Jacko joins us now around the desk. So two pieces of good news. Good numbers on they own a lump of Kareem, which could do it. The with Abe. Here's exactly venison people were just trying to intimidate that movement. If it happens as we're expecting as we see out there. Best-performing member of the Dow index yesterday within a hundred eighty nine different stocks trading back to the highest level since July, and we do see an excitement on bets that this might happen in the future. We don't have a lot of details. Of course, the company is not saying that they are negotiating anything at this moment. But there could be potential good news on side four. Let's move to Egypt. We saw Easter tobacco surging after the government sold a stake in the company. How does that fit in historically because it has been a stock quite popular when people look at the DX? Yes, it is very very popular stock if the market Yussef both within the local area for divestitures. Excuse me, if we look at eastern tobacco this stake was sold four point five percent. It was quite expected. This was expected to happen last year. It didn't go through for a series of different reasons. But there was very good demand for right now, what many people within the market are looking at this moment is which are the next names in line that could actually come for potential IPO's or for the CEO of stakes within those that are already traded in the market. This was a very good indication. It was a very good start within a very popular name in the local market. And that could give us a hint of what's to come.

US Shanghai Annabel Hanoi Kareem Madison South Korea Seoul China Elliott management Trump India Beijing Egypt CEO Judas Yussef
"elliott management" Discussed on CNBC's Fast Money

CNBC's Fast Money

03:37 min | 3 years ago

"elliott management" Discussed on CNBC's Fast Money

"Investor starboard in Elliott management, both of whom want the company to spin off its stub hub and classifieds businesses in their letter to the board Elliott made the case for their classifieds business could be worth between eight billion and twelve billion dollars. If spun off in stub could be worth between three and a half to four and a half billion dollars. Now EBay is one of the biggest online marketplaces actually outperform Amazon by double digits over the last few months. So could this unlock even more value at the company Cairns been doing some digging? What do you think? Yes. Well, you know, what if you're a CEO who stuck hasn't done that wealth, less years? You don't wanna be hearing from starboard, but you really don't want to be hearing from Elliot because they got a ton of money, and they will wait, and they will be aggressive. I thought it was very compelling. These is that they laid out, and it showed where something like a stub hub would trade how valuable that businesses. And how really what is it? What value is there in it being? Ebay and classified value that is those two alone. They say are worth where EBay ish where EBay is. Now, they also really focus on they didn't say under management. They called it. I forget the exact word, but it wasn't particularly flattering to how EBay the main business has done over the years. And you've got to think the CEO should be concerned. Remember going back three or four years EBay insisted that they should still be with pay pal? And then ultimately changed their minds spun off pay pal which ended up being the right thing to do. So there is sort of a, you know, a map here for how this could go. And I thought it was very compelling. I think that these spin offs really could unlock value. I bought some stock today. I don't love to buy it on day that it wasn't that action. By the end of the day, really wasn't even up that much. And I think the risk reward. Here is actually very compelling. We'll see the letter was not as hostile as it could have been for. Sure. However, this will not be the last that we hear from Elliot if they don't wanna make any of these changes, and we'll see. I don't unclear whether they can actually get into a proxy fight or not. I'm not sure have to do more work on that. But you have to be concerned if you're the CEO that Elliott's calling. Yeah. And back when EBay still had pay pal as part of its business. It had at that time. Even though it was the target of an activist investor. Carl Icahn right said, no, we're still not going to do it. And yet they did in tremendous value. And here we are again later, I feel like there's conversation than EBay comes up once every six months, and I mean, I know we had this conversation in October. I think Glenview was rumor I think Dan, low guys that know how to advocate bottom line is these guys are also talking about more capital return. So it goes from three billion and buybacks. Let's do five. Let's let's back eighty percent of free cash flow. Yeah. So that's going to extract as much as possible may not be great for the long term value of the company is, you know, what's interesting. What Karen said about pay pal was the right thing to do. Did you ever have your? I know you can't prove the counterfactual, but have you ever done the math and go back and say, maybe if they didn't spin off pay pal what? Would EBay being worth worth? Now. I'll be worth right don't show sex with pay pal. So still think it's I don't like the idea of getting rid of things that are your assets. I always think it's a it's a quick. Okay. Solve the you get the spike that you got today. Well, what's in between? It's they're not selling it. There's maybe selling would be much. We don't know. Your EBay shareholder, though, you get you're gonna get. If you spend you're going to get it. And we don't know what it's gonna look like though, whether it's going to be a spin or a sale right now. Right. We don't know it would argue in L they do argue in a sale something like a stopover classifieds would get a much much higher value. But let's put that aside. Let's get gets a market value. Right..

EBay CEO Dan Elliott Elliot Amazon Cairns Carl Icahn Karen twelve billion dollars billion dollars eighty percent four years six months
"elliott management" Discussed on WTMJ 620

WTMJ 620

02:14 min | 3 years ago

"elliott management" Discussed on WTMJ 620

"Rick what happens to Miller park way, I asked and I will tell you that it's not something we have talked about it. Obviously involves. Polities and governmental entities. We have not approached or discuss that with him. And as soon at some point, we'll talk, but it'd be speculative right now for me to talk about what might or might not happen with a public thoroughfare official name. We're not we're we'll figure out the right time. We'll we'll obviously have a name. And then we'll figure out a time the right time to announce it. So we're we're obviously in discussions and Volvo reveal that at the right time. We just don't have a specific date rickshaw singer. The CEO of the Milwaukee Brewers. I have a poll up on Twitter if you'd like to weigh in. What do you think about the new naming rights announcement John Mercure on Twitter hit John Mercure on Twitter? You can see the poll there. It's also a great way to fill along with what's going on on the show throughout the day and occasional cute core picture, so John Mercure hun. Twitter. We'll take your phone calls on this coming up at four fifty new naming rights. Good choice. Do you like it? Do you hate it? How do you feel about all that your phone calls coming up want to give you a chance to weigh in before we get there? It's news about your money on this Tuesday afternoon. Brad Allen with the WTMJ, Drake and associates market update. US stocks fell today after the US cancels trade meetings with Chinese officials. The Dow Jones industrial average dropped three hundred one points led by losses and Caterpillar, DuPont, the S and P five hundred pulled back one point four two percent. And the NASDAQ composite declined one point nine one percent stocks fell to their lows of the day. After the financial times reported the US cancel at a trade meeting with Chinese officials due to lack of progress in areas, including forced technological transfers in economic reforms. The major indexes added to their losses today. After the national association of realtors said US, existing housing sales fell to their lowest level in three years in corporate news, shares of EBay jumped over six percents that after a hedge fund Elliott management revealed a one point four billion dollars stake. In the company. Ten shares of Johnson and Johnson fell one point three percent. Even after the firm announced fourth quarter results that surpassed analysts expectations for revenue and earnings for Drake and associates. I'm Brad Allen financial advisor for NewsRadio WTMJ great.

Twitter US Milwaukee Brewers John Mercure Brad Allen Rick John Mercure hun Drake Miller park Volvo national association of realto Johnson Elliott management EBay CEO DuPont official advisor
"elliott management" Discussed on News Radio 1190 KEX

News Radio 1190 KEX

01:45 min | 3 years ago

"elliott management" Discussed on News Radio 1190 KEX

"Overlooked and boots Riley original screenplay for sorry to bother you. I was really hoping I would get there. That's a really creative. Original fascinating movie. I enjoyed it. A lot. Outta host. Nobody wants to gig. Can't blame them. Thankless awful. Why would you want that? Journalism has is might be broken. I think journalism is broken talk to some smart about that among other things your stay with us. You're listening to the Armstrong and Getty show. Armstrong in good, conscience the nation. This is a Bloomberg market minute. Stocks are lower on global growth concerns. Chinese president Xi Jinping stressed the need to maintain political stability comments which hinted at growing concern over the country's slowing economy. Activist investor Elliott management sent a letter to the board of EBay outlining steps it says are urgently needed to boost its value. Elliott proposed a five step plan that involves reviewing ebays portfolio of companies including stubhub and revitalizing the company's marketplace Bank of America. Ceo Brian Moynihan is predicting another round to Bank mergers in the US moynahan said that be came together through mergers. He said that sort of thing could happen again because they're still roughly six thousand banks in the US and Starbucks is expanding its delivery. Venture with Uber. Starting today. Uber eats will deliver Starbucks in San Francisco and the service will be rolled out in the coming weeks to cities all across the US that builds on a trial run that started in Miami in September, Courtney Donohoe. Bloomberg radio. Now, here's what's trending police.

US Bloomberg Starbucks Armstrong Ceo Brian Moynihan Elliott management moynahan Riley Courtney Donohoe Xi Jinping Elliott Bank of America EBay San Francisco Getty president stubhub Miami
"elliott management" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:37 min | 3 years ago

"elliott management" Discussed on Bloomberg Radio New York

"This is Bloomberg radio. This is Bloomberg markets Abramowicz. And we is there any Bank right now in the US that you think is by do you think chairman pal has lost the market? Jeff Bezos is no dope. With the big detain the big question. I think for investors is free cash flow breaking market news and insight from Bloomberg experts. US tariffs actually heard both China and the US large critiques are looking to buy or invest in innovation. Soybeans and corn been basically after below the cost of production for about four or five years. We see more. More years. This is Bloomberg markets with away. Polls. We on Bloomberg radio coming up over the next two our power. We're gonna be talking about trade in particular. Where is China negotiating from given? It's slowing economy. Yeah. We'll also talk about the oil across the board energy referendum on China. Seeing west Texas intermediate crude down about three and a half percent today. Indeed right now, though, let's head over to John Tucker for a Bloomberg business flash. Lisa. Thanks a lot definite risk of field to the markets. They cloudy off look for trade and growth, but continues to weigh on stocks. Treasuries are climbing at price. The Japanese yen another one of those bins. That is strengthening EBay surged after Elliott management set a letter to its board outlining steps, it says are urgently needed to boost its value now earlier we had shares retreating Asia after the Chinese president Xi Jinping stressed the need to maintain political stability, they'd get data points today. Existing home sales stumbled into Semper. Let's get more from Bloomberg's Vinny Del. Jud is.

Bloomberg US China Jeff Bezos chairman Xi Jinping Jud Vinny Del Treasuries EBay Asia west Texas John Tucker Lisa Elliott management president five years
"elliott management" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

02:25 min | 3 years ago

"elliott management" Discussed on WBZ NewsRadio 1030

"Let's go places nine twenty five now, and Boston's NewsRadio just ahead of the opening bell on Wall Street and stocks are going through a bit of a struggle this morning. We take a look before the bell stock report with WBZ financial editor Dave Caruso from coastal capital group. Dave joins us. Now. I gotta ask Dave. How are the markets? Look in right now. We could be better. No two ways about it. You know, we're starting to shorten week with the prominent worldwide conference at Davos, Switzerland. And you know, the world's economic business and political leaders are gathering together to try and figure out some of this stuff. Anyway, whether it be ecconomic or political so this morning starting on the negative side. Dow right now down about one hundred and fifty we've got the s&p down about eighteen NASDAQ down fifty three oil down looks like one point six percent. But again, we had a good week last week at least all right? We'll take a look at some numbers today any economic reports due today again with the government shutdown. We're never sure about what we're going to get the looks like we're supposed to get seven or eight the kind of major things coming out this week like existing home sales. This morning is supposed to be coming out at ten o'clock. So we'll see if that gets here. Also, the this week we've got the leading economic indicators to kind of figure out what the crystal ball saying, we've got durable goods. We've also those high ticket items we've got capital spending. And we'll see what else comes out in the pipeline because we just don't know with the the data. Whether it comes. Or whether it doesn't or whether it shows up just a little later. Dave Caruso from coastal capital group, any stocks in particular, you're keeping an eye on. Well, there's a lot today going on. No two ways about it. Looks like our conic. They're down. Twenty seven percent is looks like they're not going to be selling part of the company, which they thought they would also looks like tesla. They had a tough time last week down thirteen percent up a little bit this morning. Nike got a little bit of an upgrade? We also got EBay up. Twelve percent is Elliott management's taken an ownership stake in that. And they want to try and six the company a little bit. Also, we've got black and decker. Looks to be doubt about seven percent with week guidance. This morning also not expecting much from the IBM results today. It also, you know, we've certainly had some problems with Sears last week and wondering whether they're going to continue to make it. But now it looks to be a little bit more JC Penney. So these retailers are continuing to take it in the choppers as we look around. And also, we've got the the government shutdown. So we'll see what we hear from that. And maybe we can get some of that result in some of the trade issues will feel a little better at the end of the day. A couple of minutes till the opening bell on Wall Street and stocks have their work cut out for them today..

Dave Caruso government Boston WBZ Davos JC Penney editor Switzerland Nike Elliott management Dow tesla Sears IBM Twenty seven percent thirteen percent Twelve percent seven percent six percent
"elliott management" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:21 min | 3 years ago

"elliott management" Discussed on Bloomberg Radio New York

"Zero one percentage points from GDP December sales of household goods falling by two point three percents of that's partly where the where the problem is coming from. And just having a look at where the pound is moving as a result of that. What kind of reaction we see any weakness in the pound own that news newsworthy? The pound has been gradually making its way weaker against the dollar over the last couple of hours also, and he's not really moving all that much on this one twenty nine thousand five sister with a one thousand nine handled. Let's tell you what else is going on that on these markets. The stock six hundred making decent gains this morning and increasingly. So up by just over one percent now on the stock six hundred as is the Footsie-100 the cat. Karen getting the best of the gains up by one point two percent. The censured acts out by just shy of one percent. This is broadly positive session over in Asia. Where we saw the Asia Pacific up by six tenths of one percent. Dow and futures point higher by three or four tenths of a percent. So we look to make further gains on global equity markets as a result of optimism around trade, despite the fact that that story from yesterday was denied by the US treasury story that suggested Mnuchin was looking to do a deal and cut tariffs on Chinese imports. Let's look at the oil price. We had an update from about half an hour ago on that will price expectations or demand expectations. Fifty to fifty seven is where we trade up by percents once again on the oil price. That's the WTI price. Brent sixty one seventy up by nine tenths of one percent. Yield on the US tenure two point seven six percent, and the dollar is fairly flat. But we see weakness in the yen now two thousand eighteen saw activists investor move into Europe like never. Before Elliott management made a flurry of headlines with at stakes in Telecom Italia and Pernod Ricard, but Europe's biggest homegrown activists fund prefers a quieter approach. CVS capital own sizable chunks of some of Europe's biggest names, including and crop, Abe and Ericsson. Bloomberg's Erik chaska spoke to CVS and co-founder LARs froeberg and began by asking whether he approves of the recent changes at chosen crop. There's been a lot of change in two thousand eighteen for us. We have in our four main holdings citizen crop. He'd be be an Eric send there have been large corporate change programs that have been announced. Some somehow been Pushtu and somewhere in the process of being. Coop is breaking up. This is a historic move. No.

US Asia Europe LARs froeberg Dow Pernod Ricard Pushtu Telecom Italia Coop Karen Elliott management Brent Ericsson Erik chaska Bloomberg Mnuchin co-founder Abe
Telecom Italia, Elliott And Luigi Gooby Tozi discussed on

00:27 sec | 3 years ago

Telecom Italia, Elliott And Luigi Gooby Tozi discussed on

"Europe. In corporate news this morning telecom Italia's decision to name Luigi Gooby Tozi. As CEO marks another victory for Elliott management. And it's pushed for a radical overhaul. The ball chose the former Merrill. Lynch Bank gets to succeed, ammos Ganesh who was ousted last week for resisting. Elliott's call for the landline network to be spun off the decision. Entrenches? Elliott's influence and undermines top Telecom Italia shareholder,

Telecom Italia Elliott Luigi Gooby Tozi Ammos Ganesh Lynch Bank CEO Merrill Europe.
Gubitosi seen as favorite to become Telecom Italia CEO

BTV Simulcast

00:21 sec | 3 years ago

Gubitosi seen as favorite to become Telecom Italia CEO

"Sources say Telecom Italia is set to name former Merrill, Lynch spanker, give your toes Tozi as its new chief executive officer. That's after almost was ousted this week by allies of an activist shareholder people familiar with the matter. Samy ten directors for backed by Elliott management kore- on give Tozi conference call. They held

Telecom Italia Chief Executive Officer Samy Merrill Tozi Lynch
Lasalle, Hyundai and Elliot discussed on Bloomberg Markets

Bloomberg Markets

01:12 min | 4 years ago

Lasalle, Hyundai and Elliot discussed on Bloomberg Markets

"Hotels and smaller rival pebble brook hotel trust pedaled work had been seeking combined with lasalle to create a portfolio of upscale hotels and better compete with reads such as host hotels and resorts and hilton spin off park hotels and resorts patrice sikora bloomberg radio hyundai has backed down under pressure from activists investor elliott management the south korean conglomerate has scrapped a controversial eight point eight billion dollar deal between two of its units elliot said the arrangement would short change minority investors the british government has cleared the way for comcast thirty billion dollar bid for sky to move ahead bloomberg steve potisk has details it's a big boost for comcast which is competing with twenty first century fox for the uk's biggest paytv company the decision could put comcast ahead of rupert murdoch's fox and the regulatory race for sky as fox's still expecting the final call on its bid for the sixty one percent of the broadcaster it doesn't already own in the coming weeks if fox wins the tussle for sky it plans to sell the pay tv company to the walt disney company as part of the fifty two point four billion dollar acquisition by disney of most of.

Lasalle Hyundai Elliot British Government Steve Potisk Comcast UK Rupert Murdoch FOX Walt Disney Company Patrice Sikora Bloomberg Thirty Billion Dollar Eight Billion Dollar Four Billion Dollar Sixty One Percent
Federal judge asks skeptical questions on Mueller's authority to bring charges against Paul Manafort

0 Show

02:09 min | 4 years ago

Federal judge asks skeptical questions on Mueller's authority to bring charges against Paul Manafort

"Molar investigation here but i don't rule it out we'll be keeping an eye on track any headlines that do come out of the national rifle association annual convention in dallas that speech set to be getting less than an hour bloomberg news white house team leader alex wayne thanks again and hope you have a great weekend thank you still to come on politics policy power law the us looks beyond the iran nuclear deal is the may twelfth deadline is now just a little more than a week away i the latest world and national headlines nancy lyons in the bloomberg ninety nine one newsroom thanks eighth in a federal judge in virginia today it's been asking skeptical questions about robert muller's afar data bring charges against former trump campaign chairman paul manafort on tax and bank fraud charges federal judge t s ellis that third is suggesting the real reason that robert mueller is pursuing manafort is to pressure him to sing against trump the judge withheld a ruling on the indictment manafort is also charged in washington c well president trump as you all have been hearing is on his way to dallas to speak at the national rifle association convention he spoke to reporters this morning before boarding marine one and commented on the russia investigation and the possibility of doing an interview with special counsel robert muller i would love to go i would love to speak but i have to find that we're going to be treated family fairly and asked for his new attorney rudy giuliani trump says he'll get his facts straight that seems to suggest he feels giuliani misspoke about reimbursement to the president's personal lawyer michael cohen for payments to porn star stormy daniels trump says giuliani will be making a statement of his own shortly well the time in place has been set for a us summit with north korea's kim jong un but president trump is not saying when or where he also says the withdrawal of us troops from south korea is not on the table as he looks to get kim to give up his nukes at what will be the first summit between a us and the us leader in north carolina north korean leader global news twenty four hours a day on air and it tick tock on twitter powered by more than twenty seven hundred journalists in the analysts thanks nancy now with our other top stories i'm julie hyman elliott management.

Twitter Julie Hyman Elliott Attorney Special Counsel Russia Washington Chairman Iran Alex Wayne Team Leader White House Bloomberg National Rifle Association Dallas North Carolina South Korea United States Kim Jong Un
Buffett's Berkshire will oppose USG board nominees after Knauf bid

02:27 min | 4 years ago

Buffett's Berkshire will oppose USG board nominees after Knauf bid

"A better outcome and a better deal pompeo also refused to answer questions about the fbi investigation into russian meddling in the elections he declined to answer when asked if he thought the probe was a witch hunt global news twenty four hours a day powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries hi nancy mom thanks nancy now with our other top stories i'm julie hyman it was a big first quarter for the world's largest money manager blackrock reported earnings that beat the highest analysts estimate revenue also was better than expected black rock now has six point three trillion dollars in assets under management one of the world's biggest bond fund manager says it's time to adjust bloomberg's john tucker has details pimco dan iverson says it's time to cut risk as geopolitical tension and rising interest rates make for a quote much more fragile situation at escalating trade war russian sanctions in the syrian conflict have contributed to greater volatility at rattled global markets this year managers the one hundred eleven billion dollar income fund one of the world's largest actively managed fixed income funds the chief money manager was speaking at a summit in davos switzerland john tucker bloomberg radio billionaire paul singer's hedge fund has taken a stake in british software company micro focus and we'll push for changes people familiar with the matter say the changes elliott management will ask for aren't clear micro focus has been struggling while trying to integrate assets bought from hewlett packard warren buffett is opposing us jeez board we get details from bloomberg's jeff bellinger berkshirehathaway is planning to oppose us jeez more nominees in an upcoming shareholder vote backing a revolt after the wall board makers spurned takeover bid from germany's naf naf jones about ten percent of us g is calling for shareholders to vote against board nominees next month as a way to pressure the company into accepting the almost six billion dollar deal berkshire supportive naf adds to the pressure on us jeez ward to reconsider its opposition to the potential transaction jeff bellinger bloomberg radio vasts one billion dollar will be among the uk's largest for tech companies the maker of antivirus software seeks to reduce its debt load and allow investor exits with the offer offering a vast is based in the czech republic the london listing is planned for early may.

Paul Singer Jeff Bellinger Germany FBI Czech Republic UK Ward Jeff Bellinger Berkshirehathaw Warren Buffett Pompeo Davos Dan Iverson John Tucker Bloomberg Fund Manager Blackrock Julie Hyman
Thiam's earnings dip as Credit Suisse overhauls executive pay

01:50 min | 4 years ago

Thiam's earnings dip as Credit Suisse overhauls executive pay

"The ceo at credits we saw his paycheck shrink last year in the third year of a major restructuring the bank says t john received ten point two million dollars for twenty seventeen that's five percent less from a year before credit suisse says chums pay would return to levels in line with the bank's expected improvement may thanh diong ping a chinese food reviews and delivery giant backed by tencent is considering going public in hong kong initial public offering that's according to people familiar with the matter us companies are finding that the flow from the foreign money spigot is slowing we get the details from bloomberg's jeff bellinger foreigners showed signs of being net sellers of us investment grade corporate debt this week according to bank of america data and he's selling pressure comes after international investors bought just thirty eight billion dollars us investment grade corporate death in the fourth quarter according to you es the least since the beginning of two thousand sixteen when the corporate bond market was in freefall ubs as overseas money managers are a key pillar for the market having bought more than one point four trillion dollars of the security since two thousand thirteen jeff bellinger bloomberg radio activist investor paul singer has one around in his battle for influence at telecom italia with the chairman and six directors quitting the board the move gives vivendi's some time in its attempts to fend off singers elliott management in a contest that's likely to come to a head at a telecom italia shareholder meeting in may coming up oregon congressman greg walden on the cambridge analytical scandal i'm pat carroll this is bloomberg adopt us kids one eighty over one eleven and i had a stroke i couldn't speak i walk this is high blood pressure get back on your plan to lower your hp dot org brought to you by the american stroke association american medical association.

American Stroke Association Cambridge Congressman Oregon Vivendi Telecom Italia Bank Of America Jeff Bellinger American Medical Association CEO Pat Carroll Greg Walden Chairman Paul Singer Bloomberg Hong Kong Tencent T John Thirty Eight Billion Dollars