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☆ Wall Street billionaires dump Alphabet. How they traded 7 other portfolio stocks as well
▼ + stars: | 2024-02-16 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

In the fourth quarter, specifically, shares of Alphabet rose 6.75%. Third Point owned Alphabet for less than a year , while Druckenmiller traded in and out of the stock in recent quarters. Some Wall Street veterans merely pared back their exposure to Alphabet in the quarter, including David Tepper's Appaloosa Management . Baupost Group — the hedge fund run by value investor Seth Klarman — sold about 23% of its Alphabet stock over the same stretch. Berkshire parted ways with about 10 million shares of the iPhone maker, leaving the conglomerate with more than 905 million shares, worth $174.35 billion, at the end of the quarter.

Persons: Dan Loeb's, Stanley Druckenmiller, Druckenmiller, David Tepper, David Tepper's, Seth Klarman —, Jim Cramer, Michael Bury, Bill Ackman's, Tepper, Druckenmiller —, —, Eli Lilly, Lilly, Danaher, Warren Buffett's Berkshire Hathaway, Buffett, Jeff Smith's, Marc Benioff, shouldn't, Jim, Jim Cramer's, Justin Sullivan Organizations: Club, Securities and Exchange Commission, SEC, Microsoft, Apple, Nvidia, Palo Alto Networks, Wall, Management, Bill Ackman's Pershing, Capital Management, Duquesne Family, Trust, CNBC, Warren, Berkshire, BNSF Railway, Geico, Inclusive, Jim Cramer's Charitable Locations: Palo, 13Fs, Jim's, Mountain View , California

☆ Activist investor Ubben shutting down Inclusive Capital-sources
▼ + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.

Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston

☆ Lady Lynn de Rothschild explains how UK's AI summit can reset capitalism
▼ + stars: | 2023-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLady Lynn de Rothschild explains how UK's AI summit can reset capitalismLady Lynn Forester de Rothschild, Council for Inclusive Capitalism founder and CEO, joins 'Squawk Box' to discuss the first major global summit on A.I. safety being held in the United Kingdom, why she believes the gathering can reset capitalism and making it more inclusive, and more.

Persons: Lynn de Rothschild, Lynn Forester de Rothschild Organizations: Inclusive Capitalism Locations: United Kingdom

☆ AI is robbing us of our creativity, says Inclusive Capital's Jeff Ubben
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is robbing us of our creativity, says Inclusive Capital's Jeff UbbenCNBC's Jon Fortt sits down with Inclusive Capital Partners Founder Jeff Ubben to discuss the digital economy, AI's impact on creators and more.

Persons: Jeff Ubben CNBC's Jon Fortt, Jeff Ubben Organizations: Inclusive Capital Partners

☆ Premarket stocks trading: ESG has lost its meaning. One advocate says let's throw it in the trash
▼ + stars: | 2023-10-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Dedicated ESG funds have also lost popularity with investors. Total assets under management in ESG funds fell by about $163.2 billion globally during the first quarter of 2023 from the year before, according to data provider Lipper. According to the latest Fed projections, officials forecast just one more interest rate hike this year — and rate cuts next year. When members of his board ask him whether interest rates could really go that high, his answer is always “yes,” he told Bloomberg. There are a lot of “potential bad outcomes,” Dimon said, but the worst-case economic scenario would be stagflation, with low growth and high interest rates.

Persons: “ ESG, ESG, What’s, Lipper, Lynn Forester de Rothschild, ESG “, ”, Rothschild, King Charles II, Bill Clinton, Archbishop of Canterbury Justin Welby, ’, Stephen Hall, Philip Morris, “, Robert Jenkins, Jenkins, Jamie Dimon, Dimon, It’s, ” Dimon, “ you’re, Satya Nadella, Brian Fung, Nadella, ” Nadella, else’s Organizations: CNN Business, Bell, New York CNN, Fox News, Republican, Biden, Council, Inclusive Capitalism, “ Investment, Better, CNN, Jamie Dimon JPMorgan, Federal, Bloomberg, Times, Microsoft, Google Locations: New York, Times of India, United States

☆ Activists ease up on Salesforce — plus, 10 other Club stocks traded by Wall Street pros
▼ + stars: | 2023-08-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +10 min

The extraordinary activist-investor interest in Salesforce (CRM) eased further in the second quarter, according to the latest regulatory filings from influential Wall Street pros. His firm still owned about 2 million Salesforce shares as of June 30. Tepper also bought 2.3 million shares of Advanced Micro Devices (AMD) and 480,000 shares of Apple (AAPL) during the second quarter. As a result, Appaloosa's holdings as of mid-August may differ significantly from the conclusion of the second quarter. GOOGL YTD mountain Alphabet YTD performance Bets on Google's parent company, Alphabet (GOOGL), varied in the second quarter.

Persons: Dan Loeb's, Jeff Smith's, Salesforce, Jeffrey, Starboard's Jeff Smith, Smith, he's, 13Fs, it's, Marc Benioff, Mason Morfit, Paul Singer's Elliott, Elliott, Elliott —, Nelson Peltz's, Bob Iger, Peltz, David Tepper, Tepper, Bill Ackman's, Seth Klarman, Loeb, Klarman, Stanley Druckenmiller, Druckenmiller, Eli Lilly, That's, Jim Cramer's, Jim Cramer, Jim, Kim Kulish Organizations: Inclusive Capital, CNBC, Paul Singer's Elliott Management, Constellation, Club, Constellation Brands, Corona, Modelo, DIS, Disney, Management, Walt Disney Co, Peltz, Nvidia, Appaloosa Management, Microsoft, Micro Devices, Apple, AMD, Bill Ackman's Pershing, Capital Management, Oracle, Duquesne Family Office, Jim Cramer's Charitable, Corbis, Getty Locations: Salesforce, Tuesday's

☆ Activists back off Salesforce after share price recovery
▼ + stars: | 2023-08-15 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

The changes in ownership came after significant overhauls at Salesforce helped push its share price higher. Inclusive Capital Management, one of four activists closely involved with Salesforce in early 2023 along with Starboard, Elliott Investment Management and ValueAct Capital, exited even earlier, according to filings. ValueAct's ownership stake remained unchanged at 3.5 million at the end of the second quarter, its filing shows. Sachem Head Capital Management cut its stake by 20% after Salesforce made up nearly 5% of its portfolio. During the second quarter the stock price moved to $211 a share from $199 a share.

Persons: Mike Segar, Salesforce, Marc Benioff, Mason Morfit, Svea Herbst, Bayliss, Sonali Paul Organizations: REUTERS, Salesforce, U.S ., LLC, Inclusive Capital Management, Elliott Investment Management, ValueAct, Inclusive, Sachem, Capital Management, Farallon Capital Management, Light, Capital, Svea, Thomson Locations: New York, Manhattan, New York City, U.S, Salesforce, Polen

☆ Exclusive: ValueAct names Hale co-CEO, announces partner departures, strong gains
▼ + stars: | 2023-08-04 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

At the same time, ValueAct told investors in a letter seen by Reuters that three partners, including the firm's president Brandon Boze, are leaving. Boze will retire from the firm in 2024 and partners Dylan Haggart and Sarah Coyne will leave. ValueAct also pushed to replace four Seven & i Holdings directors with its own candidates this year, a campaign rejected by shareholders. "Rob has built what we believe is the premiere engagement investing franchise in Japan," the letter said. ValueAct said Coyne identified long-term super cycles as the market reached to short term datapoints.

Persons: Robert Hale, Mason Morfit, ValueAct, Brandon Boze, Boze, Dylan Haggart, Sarah Coyne, Morfit, Jeff Ubben, Hale, Rob, Haggart, Coyne, Svea Herbst, Bayliss, Nick Zieminski Organizations: Reuters, Microsoft, San, Fund, Japan Fund, Olympus, Holdings, Elliott Investment Management, Ubben's Inclusive, Spotify, New York Times, Svea, Thomson Locations: Japan, San Francisco, Seagate, Salesforce

☆ Corporate agitators slow down in Q2 but ready to pounce in H2 -Barclays data
▼ + stars: | 2023-06-30 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Investors, bankers and lawyers expect a busy second half where activists may become more involved in trying to jumpstart mergers and acquisitions (M&A). "Volatile markets and depressed M&A markets are not deterring activists from launching campaigns in 2023," said Jim Rossman, global head of shareholder advisory at Barclays. In the second half, Barclays' Rossman expects to see a market with pent-up demand for M&A and $1.4 trillion parked in private equity firms' war chests that needs to be put to work. "The proof is in the pudding in the 2023 proxy season," Rossman said. "Activists won seats at 80% of proxy contests that went to a final vote, compared to 33% in 2022."

Persons: Jim Rossman, ValueAct, Carl Icahn, Francis deSouza, Elliott, Rossman, Svea Herbst, Bayliss, Jamie Freed Organizations: YORK, Elliott Investment Management, Capital, Legion Partners, Barclays, Holdings, Inclusive, Partners, Bayer, Reuters, Capital Management, Svea, Thomson Locations: Europe, Asia, United States

June 6 (Reuters) - Salesforce Inc (CRM.N) CEO Marc Benioff has shuffled the top management, a person familiar with the matter told Reuters on Tuesday, a move that follows after the software company reported its slowest quarterly revenue growth since 2010. Miguel Milano has been appointed as the chief revenue officer, the source said, adding that Ariel Kelman will take over as Salesforce's chief marketing officer. After a previous tenure of nearly a decade at Salesforce, Milano will make a return from his recent position at software company Celonis. Kendall Collins, who will step into the role of chief of staff for Benioff, had worked as CMO at Okta and Cisco's AppDynamics. Salesforce President and Chief Operating Officer Brian Millham would be assuming new duties such as marketing, employee success and business technology, the source said.

Persons: Marc Benioff, Miguel Milano, Ariel Kelman, Milano, Celonis, Kelman, Kendall Collins, Brian Millham, Salesforce, Benioff, Kanjyik Ghosh, Akriti Sharma, Anirudh, Sherry Jacob, Phillips Organizations: Salesforce, Reuters, Amazon Web Services, Oracle, Inclusive, Microsoft Corp, Amazon.com Inc, Thomson Locations: Salesforce, Okta, Bengaluru

☆ Salesforce CEO shakes up top ranks, hints at succession plan - Insider
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

Miguel Milano, who moved back from Celonis, has been appointed Salesforce's chief revenue officer, according to the Insider report, which added that Ariel Kelman, previously the chief marketing officer at Amazon Web Services (AMZN.O) and Oracle (ORCL.N), has been named the new CMO. President and Chief Operating Officer Brian Millham will be taking on a host of new responsibilities, including marketing, employee success and business technology, the memo said. Salesforce did not immediately respond to a Reuters request for comment. The company last month posted an 11% rise in its quarterly revenue, the slowest pace of growth in 13 years. Reporting by Kanjyik Ghosh in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Marc Benioff, Miguel Milano, Ariel Kelman, Brian Millham, Salesforce, Kanjyik Ghosh, Sherry Jacob, Phillips Organizations: Salesforce, Oracle, Amazon Web Services, Inclusive, Thomson Locations: Celonis, Bengaluru

☆ How Wall Street pros traded 7 of our Club stocks, including Salesforce, in the first quarter
▼ + stars: | 2023-05-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

Lots of Club holdings, including Nvidia (NVDA) and Alphabet (GOOGL), were among the stocks traded by some of Wall Street's biggest investors and money managers in the first quarter. That firm, Jeffrey Ubben's Inclusive Capital, had owned 1.63 million Salesforce shares at the end of December, worth nearly $217 million at the time. Jeff Smith's Starboard Value also sold some Salesforce shares in Q1, leaving the firm with 2.5 million shares at the end of March. Mason Morfit's ValueAct Capital amplified its Salesforce stake in the first quarter, ending with 3.5 million shares, up from just 560,221 shares at the end of 2022. Loeb's Third Point amassed 4.75 million shares of Alphabet, worth $492.7 million at the end of the first quarter.

As Wall Street gears up for another earnings season, analysts see some stocks better positioned than others for gains. Against this backdrop, CNBC Pro used FactSet data to screen for stocks that Wall Street analysts think have the largest potential upside heading into a new earnings season. And more than half of analysts covering Booking Holdings still rate it a strong buy or buy, according to Refinitiv data. BKNG YTD mountain Shares of Booking Holdings Another stock expected to outperform during earnings season is Paccar . Salesforce's earnings per share are estimated to climb by 24% over the next six months.

☆ Ubben’s Inclusive sees opportunity to boost value at Dutch chemical maker and help the environment
▼ + stars: | 2023-04-08 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

It operates through the following segments: Methanol U.S., Methanol Europe, Nitrogen U.S., Nitrogen Europe and Fertiglobe. It will be a state-of-the-art facility at the forefront of blue ammonia production and is expected to come online in 2025 and produce 1.1 million tons of blue ammonia annually. This facility will combine nitrogen with blue hydrogen to create blue ammonia. It is considered "blue" ammonia because the carbon emissions produced from the hydrogen production process are captured and stored. Second, this blue ammonia will be sold through an ammonia terminal at the port of Rotterdam that OCI owns and operates.

☆ Salesforce says Elliott will not nominate directors to board
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

March 27 (Reuters) - Salesforce Inc (CRM.N) said on Monday activist investor Elliott Management Corp has decided to not proceed with director nominations to the board of the cloud-based software provider, due to its strong earnings and 2024 transformation initiatives. "Salesforce and Elliott have committed to continue the productive working relationship they have developed together," a joint statement from the companies said. Earlier this month, Reuters reported Elliott nominated a slate of directors to Salesforce's board. Elliott unveiled its multi-billion dollar stake in Salesforce January. Other hedge funds with stakes include Jeff Ubben's Inclusive Capital Partners, Jeff Smith's Starboard Value, ValueAct Capital and Third Point.

☆ Inclusive Capital's Ubben named to Vistry board as homebuilder looks to leverage recent acquisition
▼ + stars: | 2023-03-25 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

As a pioneering activist ESG investor (AESG), Inclusive seeks long-term shareholder value through active partnership with companies whose core businesses contribute solutions to this pursuit. Their primary focus is on environmental and social value creation, which leads to shareholder value creation. They build communities that are mixed tenure, placing affordable housing among open market homes, retail stores, etc. This model has the benefits of a secular shift to affordable housing and is capex light since they do not have to acquire the land. But, in this case the community benefits align so perfectly with the company growth prospects – topline company growth means more affordable housing.

☆ Salesforce shares climb as growth forecast, buyback plan appease investors
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

March 2 (Reuters) - Shares of Salesforce Inc (CRM.N) jumped 15% in premarket trade on Thursday after the cloud-based software provider's revenue forecast eased concerns about slowing growth and its move to double its share repurchase to $20 billion appeased investors. Still, Salesforce's first-quarter revenue forecast implied growth of 10%, higher than analysts' estimates of 9%. Other activist investors with a stake in Salesforce include Starboard Value, Inclusive Capital Partners and ValueAct Capital. They have pushed for higher growth and margins, more share buybacks and raised concerns about recent acquisitions. Shares of Salesforce have advanced 26% this year through Wednesday's close, compared with a near 3% gain in the benchmark S&P 500 index (.SPX).

☆ Salesforce sufficiently acquiesces to angry mob
▼ + stars: | 2023-03-02 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

The software developer revealed financial progress in its quarterly results, indicated it would throttle pricey deals and installed new board members, including a representative from ValueAct Capital. Co-Founder and Chief Executive Marc Benioff said on Wednesday that improving profitability is the company’s top priority. As evidence of the commitment, Salesforce said in January that it would lay off 10% of its workers. They are Mason Morfit, chief executive of ValueAct Capital; Sachin Mehra, Mastercard’s finance chief; and Arnold Donald, the former CEO of Carnival. Assertive investors Starboard Value, ValueAct Capital, and Inclusive Capital, have held talks with Salesforce, according to Reuters.

☆ Don't act on new activist push for board seats at Salesforce before earnings, Benioff reaction
▼ + stars: | 2023-03-01 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Hedge fund Elliott Management's decision to nominate candidates for Salesforce 's (CRM) board represents an escalation of the activist agitation at the Club holding. The Club generally believes activists' wishes for cost-cutting at Salesforce are positive, as long as Benioff remains at the helm. It's unclear whether Elliott is nominating two or three candidates for Salesforce's board, according to CNBC's David Faber, who broke the story Wednesday morning . Benioff is chairman of Salesforce's board. However, we don't want the activist pressure at Salesforce to cause Benioff to depart the company.

☆ Cramer sees a 'good chance' Salesforce's Benioff will soon announce succession plans
▼ + stars: | 2023-02-25 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Jim Cramer suggested Saturday that plans for a leadership change at Club holding Salesforce (CRM) — helmed by co-founder Marc Benioff for more than two decades — may be disclosed in the near future. CRM YTD mountain Salesforce (CRM) YTD performance In early January, Salesforce announced a cost-cutting plan that included layoffs and office space reductions — moves that Jim has said were pushed for by Starboard . While Benioff has said he's "never leaving" Salesforce , the company has twice elevated an executive to the role of co-CEO. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Marc Benioff, founder, chairman and CEO of enterprise cloud computing company Salesforce.

☆ Starboard Value wants Salesforce to hit over 30% profit margins, closer to Oracle and Microsoft. Salesforce is working on it, leaked draft of a planning document shows.
▼ + stars: | 2023-02-24 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +6 min

Activist investor Starboard Values wants Salesforce to grow its adjusted operating margins above 30%. In September, Salesforce announced a goal of 25% adjusted operating margins by fiscal 2026, up from a target of 20% for fiscal 2023. Starboard found Salesforce's mix of operating margins and revenue growth averaged much lower than its peers, including Microsoft and Oracle. Starboard showed Oracle at a 10.7% increase in revenue with adjusted operating margins of 43.3% for its current fiscal year. It showed Microsoft's at a 10.9% increase in revenue and 46.6% increase in operating margins, Starboard said.

☆ Here's how Wall Street pros traded 13 Club stocks last quarter, including Salesforce and Disney
▼ + stars: | 2023-02-17 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

Big-name investors and hedge funds made moves in Club holdings Disney (DIS), Nvidia (NVDA) and TJX Companies (TJX) in the fourth quarter. Starboard's position stood at 3.03 million shares — valued at $401.22 million — at the end of the fourth quarter, according to the firm's 13F. Inclusive's 1.63 million shares were worth $216.77 million and ValueAct's 560,221 shares carried a market value of $74.28 million. CRM YTD mountain Salesforce (CRM) YTD performance In addition to Salesforce, a number of other Club holdings appeared in hedge funds' quarterly disclosures. Some of the activists swarming at Salesforce have positions in other Club holdings and made changes to them during the fourth quarter.

☆ Salesforce, activist investor Elliott may soon reach deal - sources
▼ + stars: | 2023-02-17 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Feb 17 (Reuters) - Cloud-based software firm Salesforce Inc (CRM.N) and activist investor Elliott Management Corp are in discussions to reach an agreement that may end a possible board challenge, according to two people familiar with the matter. The battle at Salesforce has pitted Elliott as well as other activist investors against Marc Benioff, one of Silicon Valley's most iconic chief executives. Salesforce's growth has slowed dramatically in recent quarters and last month the company said it would cut 10% of jobs to address its performance. Representatives for Salesforce and Elliott declined to comment. Elliott too has long invested in technology companies and in the past reached settlements for board seats with companies including Pinterest (PINS.N), Twitter and eBay (EBAY.O).

☆ Salesforce engineers are about to be hit with new performance metrics, while some salespeople are being pressured to quit
▼ + stars: | 2023-02-14 | by ( Ellen Thomas | Ashley Stewart | ) www.businessinsider.com time to read: +8 min

Some Salesforce employees have been offered a "Prompt Exit Package" instead of a layoff, with less severance. Employees say the company is ratcheting up performance expectations as activist investors invade. "The company is pushing hard for productivity tracking and metrics on all facets," one employee told Insider. Salesforce cut a few hundred salespeople in November, a person familiar with the matter told Insider, and the company told Insider the cuts were made for "accountability," implying that performance was a consideration. In some cases, the company has presented employees with PEP offers in the same week it has executed mass layoffs, employees told Insider.

☆ Yet another activist targets Salesforce — further validation there's money to be made in the stock
▼ + stars: | 2023-02-09 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

A fifth activist investor has taken a stake in Club holding Salesforce (CRM), making loud and clear that well-respected hedge funds see a money-making opportunity in the enterprise software giant. With activist investing becoming more common since the Great Financial Crisis, Jiang said it's not unheard of for a single company to be targeted by multiple firms. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

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