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☆ Illumina cuts annual profit forecast for second straight quarter
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

A sign at the front entrance to the global headquarters of Illumina is pictured in San Diego, California, U.S., November 28, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Grail Inc FollowIllumina Inc FollowNov 9 (Reuters) - U.S. genetic testing Illumina (ILMN.O) on Thursday trimmed its annual profit forecast for the second straight quarter, hurt by weakness in demand for its sequencing instruments, consumables and services. Illumina also disclosed it recognized $712 million in goodwill and $109 million in intangible asset impairment related to the Grail segment, in the quarter. Illumina sees full-year adjusted profit per share to be between $0.60 and $0.70, versus its prior forecast range of $0.75 to $0.90. On an adjusted basis, the company earned 33 cents per share during the quarter, versus analysts' estimate of 12 cents per share.

Persons: Mike Blake, Illumina, Pratik Jain, Shilpi Majumdar Organizations: REUTERS, Thomson Locations: San Diego , California, U.S, China, Bengaluru

[1/5] Stephan Feldgoise, co-head of global M&A for of Goldman Sachs, speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 8, 2023. This has fueled soul-searching among investment bankers about the prospects for their business. "I'm reasonably bullish that this will return, but obviously it will be in fits and starts." "Our (deal pipelines) are at one of the largest levels that you've seen in five-six years. Reporting by Anirban Sen in New York; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephan Feldgoise, Goldman Sachs, Brendan McDermid, Goldman, Steven Baronoff, Anu Aiyengar, Aiyengar, Anthony Kim, Kim, Michal Katz, Katz, Anirban Sen, Chizu Organizations: REUTERS, Goldman Sachs Group Inc, Reuters NEXT, Federal Reserve, Bank of America, Chevron Corp, Hess Corp, Exxon Mobil Corp, Natural Resources, JPMorgan Chase &, Microsoft Corp, Illumina Inc, Centerview Partners, Greenhill, Co Inc, Thomson Locations: New York City , New York, U.S, East, Ukraine, Americas, United States, New York

☆ These 4 stocks report quarterly results next week. Here's what we hope to see
▼ + stars: | 2023-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho

☆ Activist Icahn sues Illumina board over Grail acquisition - FT
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: 1 min

Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York, U.S. on February 11, 2014. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Grail Inc FollowIllumina Inc FollowOct 17 (Reuters) - Activist-investor Carl Icahn said his firm had sued current and former board directors at Illumina (ILMN.O) concerning the acquisition of gene-sequencing company Grail (GRAL.O), the Financial Times reported on Tuesday. Reporting by Mrinmay Dey in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Carl Icahn, Neil Cavuto, Brendan McDermid, Mrinmay Dey, Sherry Jacob, Phillips Organizations: FOX Business, REUTERS, Financial Times, Thomson Locations: New York, U.S, Illumina, Bengaluru

☆ Illumina to divest Grail within a year if it does not win challenge in EU court
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Companies Grail Inc FollowIllumina Inc FollowOct 13 (Reuters) - Illumina (ILMN.O) said on Friday it would divest cancer test maker Grail (GRAL.O) in 12 months, according to the terms of the European Commission's order, if the life sciences company does not win its challenge in court. EU antitrust regulators on Thursday ordered Illumina to divest Grail, after it completed the deal before securing their approval. The San Diego-based genetic testing company last year challenged the EU watchdog saying it does not have jurisdiction over the acquisition of Grail. But if it is not successful with either its ECJ jurisdictional appeal or in a final decision of the U.S. Fifth Circuit Court of Appeals, Illumina will divest Grail. Illumina had in June appealed against the order by the Federal Trade Commission, which enforces antitrust law in the U.S., to divest Grail.

Persons: Illumina, it's, Sriparna Roy, Shilpi Majumdar Organizations: Illumina, European Court of Justice, U.S, Fifth, Appeals, Federal Trade Commission, Thomson Locations: San Diego, U.S, Bengaluru

Companies Grail Inc FollowIllumina Inc FollowBRUSSELS, Oct 12 (Reuters) - U.S. genetic testing company Illumina (ILMN.O) has been ordered by EU antitrust regulators to sell cancer test maker Grail (GRAL.O) after it completed the deal before securing their approval. The gun-jumping cost Illumina a record EU antitrust fine of 432 million euros ($457 million) for such an offence. The EU watchdog ordered Illumina to restore Grail's independence to the same level as prior to its acquisition and to ensure that it is as viable and competitive as before the takeover. Illumina can choose to divest Grail via a trade sale, a capital markets transaction or other methods, but must do it within strict deadlines. The company must keep Grail separate and viable until the sale is completed.

Persons: Illumina, Foo Yun Chee, Philip Blenkinsop Organizations: pharma, EU, European Commission, Thomson

REUTERS/Mike Blake/File PhotoCompanies Grail Inc FollowIllumina Inc FollowAug 11 (Reuters) - The U.S. Securities and Exchange Commission (SEC) has begun an investigation into Illumina's (ILMN.O) $7.1 billion acquisition of cancer detection test maker Grail (GRAL.O), the gene sequencing company said in a regulatory filing. An SEC spokesperson said the agency "does not comment on the existence or nonexistence of a possible investigation". Illumina declined to comment or provide further details on the SEC investigation. The gene-sequencing machine maker had repurchased Grail in 2021, despite opposition from U.S. and European antitrust regulators, a decision that prompted investor Carl Icahn to pursue a proxy fight at Illumina, arguing Grail should be divested as it had cost investors billions of dollars. Illumina was fined 432 million euros ($476 million) by the EU last month for closing the deal before approval by European antitrust regulators.

Persons: Mike Blake, Illumina, Carl Icahn, Mariam Sunny, Shounak Dasgupta Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, EU, Thomson Locations: San Diego , California, U.S, California, Illumina, Bengaluru

☆ Illumina cuts annual profit forecast
▼ + stars: | 2023-08-09 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: The offices of gene sequencing company Illumina Inc are shown in San Diego, California January 11, 2016. REUTERS/Mike Blake/File Photo(Reuters) - Illumina Inc lowered annual profit forecast on Wednesday, signaling weak demand for its sequencing and diagnostic services, sending the life sciences firm’s shares down 7.5% after the bell. The San Diego, California-based company expects full-year adjusted profit per share to be between $0.75 and $0.90, compared with its prior forecast of $1.25 to $1.50 per share.

Persons: Mike Blake Organizations: Inc, REUTERS, Illumina Inc Locations: San Diego , California

☆ Illumina cuts annual profit forecast as biotech funding woes linger
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File PhotoAug 9 (Reuters) - Illumina Inc (ILMN.O) cut annual profit forecast, in a sign that a funding crunch among its biotech and pharmaceutical clients is expected to weigh on sales for its genetic testing tools and diagnostics products. Rising interest rates have squeezed funding for drug development and research programs among small biotech firms, especially in China. Higher-than-estimated demand for the production-scale sequencer, NovaSeq X, however, helped the U.S. genetic testing company surpass Wall Street estimates for second-quarter profit. The San Diego, California-based company reported adjusted profit of 32 cents per share, compared with expectations of 2 cents per share, according to Refinitiv data. Illumina expects full-year adjusted profit per share to be between $0.75 and $0.90, compared with its prior forecast of $1.25 to $1.50.

Persons: Mike Blake, Charles Dadswell ., Illumina, Carl Icahn, Francis deSouza, Pratik Jain, Shilpi Majumdar Organizations: Inc, REUTERS, Illumina, Bank, Wall, Thomson Locations: San Diego , California, China, U.S, Bengaluru

☆ Illumina starts job cuts, plans office exit to rein in costs
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

Illumina has begun to lay off 10% of its research and development team, health news website STAT reported on Monday, citing internal emails. Illumina, which had engaged in a proxy battle with activist investor Carl Icahn, earlier this month said CEO Francis deSouza had stepped down. The reduction in workforce commenced on June 21 and will result in charges of about $25 to $35 million, the company said, with majority incurred in the second quarter. Illumina's core global workforce comprised about 10,200 full-time employees as of Jan. 1, according to a regulatory filing. Reporting by Khushi Mandowara in Bengaluru; Editing by Sriraj Kalluvila and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Illumina, Carl Icahn, Francis deSouza, Khushi, Sriraj Kalluvila, Maju Samuel Organizations: Illumina, Thomson Locations: California, Bengaluru

☆ Illumina appoints Dadswell as interim CEO
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: 1 min

Companies Illumina Inc FollowJune 11 (Reuters) - Illumina (ILMN.O) said on Sunday that it had appointed Charles Dadswell as interim chief executive officer while the board conducts a search for a new CEO. Reporting by Lavanya Ahire in Bengaluru; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Charles Dadswell, Lavanya, Jason Neely Organizations: Thomson Locations: Bengaluru

☆ Illumina announces CEO transition plan as Francis deSouza resigns
▼ + stars: | 2023-06-11 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Illumina on Sunday announced its board of directors has accepted the resignation of CEO Francis deSouza, just weeks after activist investor Carl Icahn failed to oust him from the biotech company. "It has been the privilege of a lifetime to serve Illumina," deSouza said in the release. Similarly, in an open letter to Illumina shareholders in April, Icahn accused deSouza of "desperately, hilariously and, most of all, unsuccessfully" trying to spin "decidedly mediocre" quarterly results during a press tour. In late May, Icahn had urged shareholders to vote off deSouza and Chairman John Thompson from the nine-member board. Shareholders booted Thompson, but deSouza held onto his role until Sunday.

Persons: Francis deSouza, Illumina, Carl Icahn, Charles Dadswell, Illumina's, DeSouza's, deSouza, Icahn, John Thompson, Thompson Organizations: Illumina Inc, Economic, Sunday Locations: Davos, Switzerland, Illumina

☆ Illumina board appoints Hologic CEO as non-exec chairman
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: 1 min

June 2 (Reuters) - Illumina Inc (ILMN.O) said on Friday it had elected two new independent board members, including Hologic Inc (HOLX.O) CEO Stephen MacMillan as the non-executive chairperson, with immediate effect. The genetic sequencing equipment maker also appointed Edwards Lifesciences (EW.N) Chief Financial Officer Scott B. Ullem to the board, the company said in a statement. These appointments follow activist investor Carl Icahn mustering enough shareholder support last month to oust Illumina's board chair John Thompson and install one of his board nominees, Andrew Teno. However, Illumina CEO Francis deSouza survived a challenge to his board seat from Icahn. Reporting by Leroy Leo in Bengaluru; Editing by Savio D'Souza and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephen MacMillan, Edwards Lifesciences, Scott B, Ullem, Carl Icahn, Illumina's, John Thompson, Andrew Teno, Francis deSouza, Leroy Leo, Savio D'Souza, Rashmi Organizations: Illumina, Hologic Inc, Thomson Locations: Icahn, Bengaluru

☆ Grail says about 400 patients incorrectly informed they may have cancer
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

Companies Grail Inc FollowIllumina Inc FollowJune 2 (Reuters) - Cancer test maker Grail Inc (GRAL.O) said on Friday that its telemedicine vendor erroneously sent letters to about 400 patients suggesting they may have developed cancer. Grail's flagship cancer detection blood test Galleri is designed to detect more than 50 types of cancer before symptoms appear. Grail said it had reached out to the patients immediately after the issue, adding that no patient health information has been disclosed or breached due to this. The software issue being faced by PWNHealth has now been resolved, it said. Illumina is currently appealing regulatory orders in the U.S. and EU, which are asking the gene sequencing company to divest Grail after it jumped regulators to close its acquisition of the cancer test maker.

Persons: Grail, PWNHealth, Illumina, Mariam Sunny, Shilpi Majumdar Organizations: Illumina Inc, Thomson Locations: U.S, Bengaluru

☆ What makes us human? Primate genome study offers some clues
▼ + stars: | 2023-06-01 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

While some genetic variations previously thought to be exclusive to people were found in other primate species, the researchers pinpointed others that were uniquely human involving brain function and development. They also used the primate genomes to train an artificial intelligence algorithm to predict disease-causing genetic mutations in humans. Human-related threats such as habitat destruction, climate change and hunting have left about 60% of primate species threatened with extinction and about 75% with declining populations. "The vast majority of primate species have significantly more genetic variation per individual than do humans," said genomicist and study co-author Jeffrey Rogers of the Baylor College of Medicine in Texas. The genome data can help identify the primate species in the most dire need of conservation efforts.

Persons: Thomas Mukoya, genomicist Lukas Kuderna, gibbons, Kuderna, Jeffrey Rogers, Will Dunham, Rosalba O'Brien Organizations: REUTERS, WASHINGTON, Barcelona Biomedical Research Park's Institute, Evolutionary, Illumina Inc, Baylor College of Medicine, Thomson Locations: Kinigi, Rwanda, Barcelona, Spain, Americas, Africa, Madagascar, Asia, Texas, China, Laos, Vietnam

☆ Glass Lewis backs two of Icahn's nominees for Illumina
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +2 min

May 10(Reuters) - Proxy adviser Glass Lewis said on Wednesday Illumina Inc (ILMN.O) shareholders should vote for two of Carl Icahn's nominees to the firm's board, as representatives who can challenge the current board would be beneficial to the company. Glass Lewis added shareholders should vote against the re-election of the current chief Francis deSouza and chair John Thompson, saying they had enough reasons to advocate for a new chair. Icahn, who owns 1.4% of Illumina, began a boardroom battle at the gene sequencing company in March. Glass Lewis said in a report it recommends shareholders support Icahn's nominees, Vincent Intrieri and Andrew Teno, adding the company's $7.1 billion acquisition of cancer-testing firm Grail had been a "costly, distracting, value-crimping millstone" for Illumina. However, it did not extend support to Icahn's third candidate, Jesse Lynn, adding that election of all three candidates was not needed.

In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn's net worth, leaving him with an estimated $14.7 billion, according to Forbes. NAV is a key gauge of a fund's performance, measuring the market value of securities held by the fund. Driving the frothiness in IEP's stock, Hindenburg argued, is its dividend yield of 15.8%, the highest of any U.S. large cap company by far. Hindenburg also offered examples it said showed IEP itself was valuing its holdings way above their market value.

☆ Short investor Hindenburg erases fifth of Icahn empire’s value
▼ + stars: | 2023-05-02 | by ( ) edition.cnn.com time to read: +4 min

In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a “Ponzi-like” structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn’s net worth, leaving him with an estimated $14.7 billion, according to Forbes. NAV is a key gauge of a fund’s performance, measuring the market value of securities held by the fund. Driving the frothiness in IEP’s stock, Hindenburg argued, is its dividend yield of 15.8%, the highest of any US large cap company by far. Hindenburg also offered examples it said showed IEP itself was valuing its holdings way above their market value.

CompaniesCompanies Law Firms Grail Inc FollowIllumina Inc Follow(Reuters) - A U.S. appeals court on Tuesday said it will accelerate reviewing Illumina Inc's challenge to a federal agency order requiring the biotechnology company to divest cancer diagnostic test maker Grail LLC. The agency said Illumina had not shown why the appeals court needed to speed up its consideration of the antitrust dispute. San Diego-based Illumina, which specializes in gene sequencing, is appealing an April 3 FTC order that said the company's $7.1 billion acquisition of Grail will curb competition in the cancer-testing market. The FTC in 2021 sued Illumina over its bid for Grail, a former subsidiary of the company. The case is Illumina Inc and Grail Inc v. Federal Trade Commission, 5th U.S.

☆ FTC Rejects Illumina’s $7 Billion Deal for Cancer-Test Developer Grail
▼ + stars: | 2023-04-03 | by ( Jonathan D. Rockoff | Peter Loftus | ) www.wsj.com time to read: 1 min

San Diego-based Illumina was ordered to unwind its already completed acquisition. The Federal Trade Commission rejected Illumina Inc.’s $7 billion deal for cancer-test developer Grail Inc., saying that going ahead would hurt competition in one of the new frontiers of diagnostic medicine. The FTC on Monday ordered Illumina to unwind the proposed merger, reversing an administrative law judge’s ruling that supported the big medical testing company.

☆ FTC orders Illumina to divest $7.1 billion acquisition of cancer test developer Grail
▼ + stars: | 2023-04-03 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The Federal Trade Commission on Monday ordered Illumina to divest its controversial acquisition of cancer test developer Grail, saying the deal would stifle competition and innovation. The decision reverses an administrative judge's September ruling, which dismissed the FTC's initial challenge to the $7.1 billion deal. Illumina said in a statement that it intends to appeal the FTC's decision in federal court and will seek an expedited decision. "The acquisition of GRAIL potentially gives Illumina incentives to favor GRAIL over its rivals by providing GRAIL preferential access or preferential terms for acquiring NGS inputs," the FTC said. Illumina also "stands to earn substantially more profit on the sale of GRAIL tests than it does by supporting rival test developers," the commission added.

☆ Activist investor Icahn launches proxy fight at Illumina
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakeMarch 13 (Reuters) - Activist investor Carl Icahn on Monday launched a proxy fight at Illumina Inc (ILMN.O), saying the life sciences company's takeover of Grail Inc (GRAL.O) had cost shareholders about $50 billion since the closing of the deal. Shares of Illumina jumped more than 20% to $233.50 in morning trade, and have declined 7.2% since the deal closed in August 2021. Icahn plans to nominate three people to Illumina's board at the company's upcoming shareholder meeting, he said in a letter sent to shareholders. "We have therefore determined to launch a proxy contest to attempt to gain board representation," Icahn said, adding he feared the company's board will continue to pursue the Grail transaction. Icahn said his nominees - Vincent Intrieri, Jesse Lynn and Andrew Teno - would help keep Illumina from "sinking further".

☆ Carl Icahn Prepares for Proxy Fight at Illumina
▼ + stars: | 2023-03-13 | by ( Lauren Thomas | Cara Lombardo | ) www.wsj.com time to read: 1 min

Illumina was revered for its DNA-sequencing capabilities and was valued at more than $70 billion in summer 2021. Carl Icahn is preparing a proxy fight at Illumina Inc., arguing the biotechnology company cost its shareholders roughly $50 billion by plowing ahead with a risky acquisition despite opposition from regulators. The billionaire activist plans to nominate three people to the San Diego, Calif., company’s board, according to a letter Mr. Icahn plans to send to Illumina’s shareholders Monday that was viewed by The Wall Street Journal.

☆ Cramer's lightning round: Parker-Hannifin is a buy
▼ + stars: | 2023-02-07 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

I would buy it here." Waste Management Inc : "Everyone thought that quarter was not that great and was telling me to buy Republic Services . Loading chart...Illumina Inc : "If you're going to be in that business, there's only two. Loading chart...TG Therapeutics Inc : "This is [run by CEO] Mike Weiss. I think that you've got a winner, and I need to hear it from you."

☆ Peltz's Trian seeks to rally Disney shareholders against board director Froman
▼ + stars: | 2023-02-02 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

REUTERS/Fred ProuserNEW YORK, Feb 2 (Reuters) - Activist investor Nelson Peltz's hedge fund Trian Fund Management wrote to Walt Disney Co (DIS.N) shareholders on Thursday to make the case for replacing the media and entertainment conglomerate's board director Michael Froman. Trian, which owns a roughly $1 billion stake in the home of Mickey Mouse, has asked Disney shareholders to drop Froman — a former U.S. Trade Representative — from the company's 12-member board and elect Peltz instead. Trian did not spell out in the letter why it had picked Froman to target among the Disney directors, but suggested that Peltz was more qualified to serve. In the letter, Trian also directed its criticism at the full Disney board, blaming it for a 44% drop in Disney's stock last year. A shareholder vote to decide on the composition of Disney's board has not yet been set but is expected in the spring.

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