Mariah Summers
Red Lobster Investors Could Lose $850 Million In Value In Spinoff, Says Activist Hedge Fund
The claim comes in a new presentation by Starboard Value obtained by BuzzFeed and expected to be made public Tuesday morning.
Mariah Summers
Are You Good Or Awful With Money?
401(what?) LOL.
Mariah Summers
eBay Fires Back At Icahn, Calls Him A Distraction
The company is imploring shareholders to vote against Icahn's proposal to spin-off PayPal and appoint two board members at its upcoming annual meeting, and calling out Icahn's personal attacks and the credentials of his proposed board members. This is just the latest in a heated battle that's taken shape in the last three months.
Mariah Summers
High Cost Of Shrimp And Lack Of Customers Lead To 18% Earnings Drop For Red Lobster Owner
The company said in an earnings call Friday morning that the quarter was "challenging," especially at Red Lobster, which the company is trying to spin off. Darden's CEO also urged shareholders to communicate with the company instead of holding a special vote on the spin-off or sale that an activist hedge fund has been fighting for in recent months.
Mariah Summers
Darden Earnings Could Bring Fight Over Red Lobster Spin Off To Screaming Boil
Darden Restaurants reports earnings tomorrow, and another weak report could be enough to move shareholders to side with an activist hedge fund that is trying to stop the company from spinning off its chain of Red Lobster restaurants.
Mariah Summers
Short Sellers' New Favorite Platform: Twitter
Hedge fund managers are increasingly tweeting their research and their sharp-edged attacks betting that a company's stock will fall instead of rise, in a medium that was made for stirring up trouble.
Mariah Summers
Lending Company World Acceptance Is Now The Subject Of Yet Another Investigation
World Acceptance, a controversial lending company that has long been a short target of hedge funds, was forced to disclose an investigation by the Consumer Protection Bureau and a separate investigation of securities fraud, causing the stock to tank.
Mariah Summers
Hedge Fund Makes At Least $14 Million On Merger Of Discount Suit Makers
Eminence Capital, one of the loudest voices in the battle to merge Men's Wearhouse and Jos. A. Bank, stands to make millions on the deal.
Mariah Summers
Men's Wearhouse Finally Reaches $1.8 Billion Deal To Acquire Jos. A. Bank
In reaching an agreement today to acquire Jos. A. Bank for $65 per share, Men's Wearhouse has ended the months-long battle to merge the two suit retailers. The combined companies will have over 1,700 stores in the U.S. and sales of $3.5 billion.
Mariah Summers
Investment Firm Creates "Cannabis Screen" To Track Performance Of Hot Pot Stocks
$HERB, anyone?
Mariah Summers
Costco Will Sell "Giant Bags Of Kale" To Compete With Amazon Prime
On its second-quarter earnings call, Costco's chief financial officer said the company was exploring options to target younger customers for membership and ways to compete with Amazon Prime.
Mariah Summers
Bitcoin Company CEO Dead Of Apparent Suicide
Autumn Radtke, CEO of bitcoin exchange company First Meta, was found dead in her Singapore apartment last week; suicide is suspected. The death comes during a tumultuous week for bitcoin exchanges following the collapse of Mt. Gox in Japan.
Mariah Summers
Hedge Funds Intensify Fight To Keep Olive Garden And Red Lobster Together
Starboard Value has gone on a hiring and purchasing spree to help with its battle to keep Olive Garden and Red Lobster under one corporate umbrella. How far will they go to keep the chains together?
Mariah Summers
Shares Of Russia's Two Largest Banks Are Down Significantly, Could Dip Even Lower
"If Russia starts firing bullets, this morning's slide is nothing."
Mariah Summers
Sotheby's Stock Plummets As Dan Loeb's Third Point Pushes Back For More Board Seats
Dan Loeb's Third Point Partners is demanding Sotheby's open up all three board seats the $14 billion hedge fund is seeking. At this point, Sotheby's is only offering one seat for Loeb, and the stock has fallen more than $3 per share in just over 24 hours.
Mariah Summers
Pepsi Vs. Private Equity: A Battle Of Snacks And Share Price
After Nelson Peltz's Trian Fund Management released a white paper making the case for a spin-off of the snack division of PepsiCo, which accounts for most of the company's value, PepsiCo fired back with a strong rejection of the proposal. Your move, Peltz.
Mariah Summers
Is Wealthfront The Answer To Getting "Millennials" To Save For Retirement?
The leading mobile financial advisory service is going after a younger, more tech-savvy demographic with low fees and a fiercely independent corporate mission. But is the model sustainable?
Mariah Summers
Did You Know They Give Out Awards To Hedge Funds?
Because apparently tons of money isn't enough.
Mariah Summers
JoS. A. Bank's Deal With Eddie Bauer Is Either An Act Of Brilliance Or Desperation
It depends on which side of the bitter takeover feud with Men's Wearhouse one stands.
Mariah Summers
Exclusive: OpenTable Competitor CityEats Is For Sale
No appetite for the service among consumers.
Peter Lauria
