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☆ Masimo seeks to stave off proxy fight with Politan, makes settlement offer
▼ + stars: | 2024-05-09 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Health-tech firm Masimo , facing the imminent threat of litigation and a second proxy contest, offered a settlement to Politan Capital's Quentin Koffey on Thursday that would fill a vacant board seat with one of the activist's proposed directors. The company is trying to spin off its consumer technology division in concert with an unspecified joint-venture partner, CEO Joe Kiani said earlier this year. The settlement offer would not have been possible without the imminent resignation of current director Rolf Classon, whose departure was attributed to "personal health reasons." Koffey waged a successful proxy fight at Masimo last year earning himself and another nominee representation on Masimo's six-person board. Politan launched a second proxy fight to oust Kiani earlier this year, saying that the "absence of oversight has been damaging for shareholders."

Persons: Politan Capital's Quentin Koffey, Masimo's, Craig Reynolds, William Jellison, Joe Kiani, Koffey, Masimo, Rolf Classon, Politan, Kiani Organizations: Masimo Locations: Kiani

☆ Masimo activist director Koffey demands ‘basic’ information on company’s proposed spinoff
▼ + stars: | 2024-05-08 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Politan Capital's Quentin Koffey sent a letter to Masimo CEO Joe Kiani on Wednesday, demanding information about the health-tech company's proposed spinoff of its consumer business. The purchase was a catalyst for Politan's first proxy fight at the company. Last month, Masimo said it would spin off its consumer business, spurring a rally in the stock. Koffey said in his letter that Masimo management has asked "that directors sign a non-disclosure agreement" to get access to information around the deal. The activist is also seeking information on any financial and leadership opportunities Kiani has been promised at the spinout.

Persons: Politan, Quentin Koffey, Joe Kiani, Masimo, Koffey, Kiani, Micah Young, Masimo weren't Organizations: Masimo, Sound United, Fidelity, Kiani

☆ Masimo's billionaire CEO put shares on margin to get cash while keeping ownership ahead of proxy fight
▼ + stars: | 2024-05-01 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Kiani has just under 4 million Masimo shares, or around 7.5% of the company, according to FactSet data. Masimo shares are up 15% this year, lifting the company's market cap past $7 billion. Politan controls 8.9% of Masimo shares. Kiani, 59, pledged 2.97 million Masimo shares as of April, valued at $397 million, as collateral against "personal loans." "Rather than sell his pledged shares, Mr. Kiani increased his pledge to maintain his stock ownership."

Persons: Joe Kiani, Joe Biden, Quentin Koffey's, Kiani, Masimo, Politan Organizations: Apple, Capital Management, CNBC

☆ Activist investor plans second fight at Masimo, sending shares up 5%
▼ + stars: | 2024-03-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Health-tech company Masimo , best known for its successful patent litigation over the Apple Watch, is facing a proxy fight for the second time in two years — from the same activist investor who now sits on the company's six-person board. The acquisition, which frustrated some investors and was seen as unrelated to Masimo's core health-tech focus, prompted Politan's first proxy fight at the company. If successful, the activist investor would control four of the company's six board seats. In the previous proxy fight, Kiani showed no desire to settle a fight with the activist fund. Politan said in its release that it hoped to avoid another proxy fight.

Persons: Quentin Koffey's, Masimo, Politan's, Politan, Darlene Solomon, Bill Jellison, Solomon, Jellison, Michelle Brennan, Koffey, Joe Kiani, Kiani, Darlene, Bill, Quentin Koffey Organizations: Apple Watch, Sound Locations: Agilent

☆ Stocks making the biggest moves before the bell: Boeing, Masimo, Cleveland-Cliffs, Baidu, Disney and more
▼ + stars: | 2024-03-25 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Masimo — Shares soared nearly 12% following the medical technology company's announcement late Friday it is considering a spinoff of its consumer business. In addition, Wells Fargo upgraded the stock Monday, citing the potential separation of the businesses. Baidu — Shares of the technology company climbed 1.4% following news that Baidu is reportedly engaged in talks with Apple for a potential collaboration on artificial intelligence services in China. Disney — Shares rose 1.2% after Barclays upgraded the media company to overweight from equal weight, saying Disney has further upside even after its outperformance this year. Foot Locker — The shoe retailer rose 2.9% after Evercore ISI upgraded the stock to outperform from in line.

Persons: Dave Calhoun, Larry Kellner, Masimo, Quentin Koffey, Wells, Baidu, Nelson Peltz, Locker, Tesla, Raymond James, Jesse Pound, Tanaya Macheel, Michelle Fox, Brian Evans, Sarah Min Organizations: Boeing —, Street Journal, Politan Capital Management, Department of Energy, Chipmakers, Intel, Financial Times, Nvidia, Baidu —, Apple, Disney, Barclays, Blackwells, ISI, Mizuho Securities, Scotts Miracle, Gro Locations: Wells Fargo, Cleveland, Ohio, Pennsylvania, China, U.S, Europe

☆ Nominate a leader for CNBC's debut Changemakers list: Women transforming business
▼ + stars: | 2023-10-03 | by ( Julia Boorstin | ) www.cnbc.com time to read: +6 min

Game-changing female leadership is a topic that is close to my heart, and I'm thrilled to announce a new annual list at CNBC, Changemakers: Women transforming business. The list will highlight 40 trailblazing women who have accomplished meaningful achievements in the past year, women from companies and organizations across all sectors of the economy, including philanthropic organizations. Together, we will highlight how today's successful women leaders are taking novel approaches to old business problems and identifying new business opportunities. To help us identify a diverse and inclusive list, we have created an advisory board of experienced leaders across the business and philanthropic space. CNBC Changemakers are the new icons rewriting the rules and shaping the dynamic business landscape.

Persons: I'm, I've, — Joanne Bradford, Desiree Gruber —, Marcela Miguel Berland, Tory Burch, Burch, Emma Carrasco, Corporate Affairs Srikant Datar, Harvard Business School Dean Karen Finerman, Beth Ford, Ken Frazier, Desiree Gruber, Kris Jenner, Oscar Munoz, Laurene Powell, Emerson, Sheryl Sandberg, Stacy Smith Organizations: CNBC, Fortune, Tory, NBCUniversal, Corporate Affairs, Harvard Business School, Metropolitan Capital, Catalyst's Health, Merck, United Airlines, OptionB.org, Annenberg, CNBC Changemakers Locations: Silicon

☆ Activist Politan Capital engages with Azenta. Here’s how the firm may boost shareholder value
▼ + stars: | 2023-09-30 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Then, there is the life sciences services segment, which provides comprehensive sample management programs, integrated cold chain solutions, informatics and sample-based laboratory services to advance scientific research and support drug development. Activist Commentary: Politan Capital Management was founded by Quentin Koffey. This is Politan's second 13D filing and third activist campaign, all of which have been in the health-care sector. One-third of the company is cash, and investors want to know how it plans to deploy that capital. Ken Squire is the founder and president of 13D Monitor, an institutional research service on shareholder activism, and the founder and portfolio manager of the 13D Activist Fund, a mutual fund that invests in a portfolio of activist 13D investments.

Persons: Quentin Koffey, Koffey, Shaw, Brooks, Azenta, Thomas H, –, Politan, Ken Squire Organizations: Politan Capital Management, Investment Group, Elliott Associates, Lee Partners, B, Companies, 13D Locations: D.E

☆ Money in A.I. is made by 'picks and shovels' like Nvidia: Metropolitan Capital's Karen Finerman
▼ + stars: | 2023-06-29 | 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 EmailMoney in A.I. is made by 'picks and shovels' like Nvidia: Metropolitan Capital's Karen FinermanKaren Finerman, Metropolitan Capital president, joins 'Squawk Box' to discuss the latest market trends, banks, and more.

Persons: Karen Finerman Karen Finerman Organizations: Nvidia, Metropolitan, Metropolitan Capital

☆ Exclusive: Masimo shareholders poised to elect Politan's two director nominees to board -sources
▼ + stars: | 2023-06-26 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

The Vanguard Group, one of Masimo's largest shareholders, has backed both Politan nominees, two sources said. The company, which is currently valued at $8.5 billion, is expected to make preliminary voting results public later on Monday. A representative for Politan declined to comment, and a representative for Masimo was not immediately available for comment. The hedge fund, founded by Koffey, received backing from proxy advisory firms Institutional Shareholders Services and Glass Lewis two weeks ago when both urged shareholders to elect the Politan nominees. In the end, Masimo reversed course and dropped the requirements after Politan sued in Delaware court.

Persons: Quentin Koffey, Michelle Brennan, Masimo, Koffey, Glass Lewis, Politan, Svea Herbst, Bayliss, Leslie Adler Organizations: YORK, Masimo, Politan Capital Management, Vanguard Group, Vanguard, Sound United, Shareholders Services, ISS, Svea, Thomson Locations: Delaware

☆ In Argentina, Inflation Passes 100% (and the Restaurants Are Packed)
▼ + stars: | 2023-06-19 | by ( Natalie Alcoba | Sarah Pabst | ) www.nytimes.com time to read: +1 min

Wine glasses clinked in an Art Nouveau culinary gem basking in its restored splendor. It was tasting night in the more than century-old coffeehouse turned restaurant at the old Buenos Aires zoo, as beet tartare, pan-seared squid and a perfect rib-eye floated out of the kitchen, chased by a velvety chocolate mousse. In Buenos Aires, Argentina’s cosmopolitan capital, a world-class culinary scene is flourishing. That would not necessarily be news if it were not for the fact that Argentina is in the middle of an extraordinary financial crisis. Inflation is at more than 114 percent — the fourth highest rate in the world — and the street value of the Argentine peso has crumbled, dropping about 25 percent over a three-week period in April.

Persons: ”, Pedro Díaz Flores Organizations: Argentine Locations: Buenos Aires, Argentina

The biggest buy came from RenaissanceRE CEO Kevin O'Donnell, who bought $2.5 million worth of the insurer's stock, according to securities filings and VerityData. Kiani's roughly $1 million purchase comes after he scooped up $6 million of the stock in November and December of 2022. 1) RenaissanceRE — O'Donnell bought $2.5 million worth of shares on May 26 as part of a secondary offering. 4) Masimo — Kiani spent just over $1 million on Masimo stock on May 25, building on a $6 million purchase from late last year. 5) Driven Brands — CEO Jonathan Fitzpatrick bought nearly $1 million worth of the automotive services company's stock on Tuesday.

Persons: Kevin O'Donnell, Validus, O'Donnell, Joe Kiani, Masimo, RenaissanceRE — O'Donnell, Bernard Lanigan, Kevin Dallas, — Kiani, Jonathan Fitzpatrick Organizations: AIG, Politan, Tech, Politan Capital Locations: RenaissanceRe, VerityData

While Alibaba announced it would split its company as a move "designed to unlock shareholder value and foster market competitiveness," " Fast Money " traders aren't so sure about buying the stock. The Chinese tech giant announced Tuesday it would divide its company into six business groups. BABA 1D mountain Alibaba stock However, a couple of the "Fast Money" traders are hesitant as to whether the stock is now a good play. This is a wait-and-see moment," said Tim Seymour, founder and chief investment officer of Seymour Asset Management. She said that while sentiments with Chinese tech companies could potentially have bottomed out, she is unsure how the split will be executed.

☆ The first quarter of 2023 is about to end. 'Fast Money' traders look ahead to earnings season
▼ + stars: | 2023-03-27 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

In the first quarter of 2023, the S & P 500 is up more than 3%. .SPX YTD mountain S & P 500 YTD However, the "Fast Money" traders said investors are failing to price in tightening credit conditions, as well as a weaker macro environment, ahead of first quarter earnings — particularly in the tech sector. Nathan said consensus estimates for tech stocks are elevated, even as those companies contend with a higher interest rate and inflationary environment. Similarly, investors piled into mega-cap tech stocks after the recent banking crisis, citing their "stability," Grasso said. Trader Karen Finerman was less negative on the sector, saying supply chain issues and a pullback in the stronger dollar have eased this year, weighing less on mega-cap tech stocks.

☆ FedEx is surging after an earnings beat. Here's how the 'Fast Money' traders say it compares to UPS
▼ + stars: | 2023-03-16 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

Shares of FedEx were moving higher after the bell on Thursday after a solid fiscal third-quarter report, and it is catching up to rival UPS , according to the traders on CNBC's " Fast Money ." The shipping company reported $3.41 in adjusted earnings per share, above the $2.73 per share expected by analysts, according to Refinitiv. Prior to this latest earnings report UPS had a forward price to earnings ratio of 15.8, while FedEx was at 12.0, according to FactSet. And one thing FedEx has is a little more international exposure, which is probably a good thing. To the extent that China opens, they have a little more exposure than UPS outside the United States," she said.

☆ 'Fast Money' trader Tim Seymour sees potential in Home Depot, despite weakness in the shares
▼ + stars: | 2023-03-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Home Depot is down for the year, but Tim Seymour still likes the home improvement name. The founder and chief investment officer of Seymour Asset Management also said it's cheaper than competitor Lowe's , on CNBC's " Fast Money " Tuesday night. Home Depot posted its quarterly results in February, falling short of analysts' expectations on revenue , according to Refinitiv. Fellow "Fast Money" panelist Karen Finerman, founder and CEO of Metropolitan Capital Advisors, said she's invested in both stocks. The comments came after homebuilder Lennar reported its latest quarterly financial results , beating analysts' estimates for earnings and revenue, according to Refinitiv.

☆ Salesforce results give CEO Benioff ‘breathing room’ from activists for now, ‘Fast Money’ trader Steve Grasso said
▼ + stars: | 2023-03-01 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Salesforce 's strong earnings results should give CEO Marc Benioff some relief from ongoing activist pressure at the cloud software firm. "This gives him definitive breathing room right now," Steve Grasso, CEO of Grasso Global, said Wednesday on CNBC's " Fast Money ." Salesforce shares surged 15% in extended trading Wednesday after the cloud software maker beat expectations on the top and bottom lines , and issued a better forecast than Wall Street was expecting. Salesforce in recent months has faced increasing activist pressure from firms such as Elliott Management, Third Point and Starboard Value. To be sure, the strong results may not help Benioff for long, the "Fast Money" traders said.

☆ Boeing is due for a pullback, says 'Fast Money' trader Guy Adami
▼ + stars: | 2023-02-23 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Boeing was ripe for a pullback even before Thursday's reveal of a delivery halt for one of its planes, according to traders on CNBC's " Fast Money ." That will likely put pressure on the stock while the issue is being resolved, said "Fast Money" trader Guy Adami. So that's what we're going to see here," said Adami, who is the director of advisor advocacy at Private Advisor Group. "The stock probably got itself a little expensive as well. … I think it probably goes lower from this $202 level we're seeing right now," Adami added.

☆ Fast Money traders make opposite moves as Alphabet sells off on AI competition
▼ + stars: | 2023-02-09 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Google parent Alphabet sold off this week after its artificial intelligence (AI) event disappointed investors, prompting traders on CNBC's "Fast Money" to make moves on the stock. Karen Finerman, CEO of Metropolitan Capital, said she sold about 15% of her position in Alphabet this week amid the sell-off, citing increased competition in AI technologies. She said she still owns a big position in Alphabet, about 10% of her portfolio, even after the latest sale. Shares of Alphabet have tumbled more than 9% this week, on track to post their worst week since November. "Google is a company that's been in AI for eight years."

☆ With Bob Iger back at Disney, 'you don't need Nelson Peltz,' says 'Fast Money' trader Steve Grasso
▼ + stars: | 2023-02-08 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

That showed activist investor Nelson Peltz may not be needed at Disney, said Steve Grasso, CEO of Grasso Global on CNBC's " Fast Money " Wednesday evening. "And with him there … you don't need Nelson Peltz. If he was not there, then you need Nelson Peltz in the room." Metropolitan Capital Advisors' Karen Finerman also said on "Fast Money" that the message to Disney shareholders was clear. Other top traders on "Fast Money" disagreed, saying the company will continue to face challenges.

☆ Investors have tough choices now with yields for money market funds on the rise
▼ + stars: | 2023-02-05 | by ( Anna Gleason | ) www.cnbc.com time to read: +1 min

The " Fast Money " traders are looking to capitalize on the rising yields in money market funds and dividend-paying stocks. The largest taxable money market funds, as ranked on Crane Data's 100 list, are yielding an average 4.18% as of Feb. 2 — returns not seen since the financial crisis. Money market funds jumped to an all-time record $4.82 trillion in total assets the week ended Feb. 1, according to the Investment Company Institute. Higher-return dividend payers, which carry more risk, may be an option for investors looking for safety right now, too. "I won't hold it against them, however, if they do have a great dividend," Finerman added.

☆ 'Dodged bullet': How 'Fast Money' traders are responding to Thursday's Big Tech earnings
▼ + stars: | 2023-02-02 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Big Tech stocks Amazon , Apple and Alphabet reported earnings Thursday night. "Ultimately, I think that this was a dodged bullet," Munster said on CNBC's " Fast Money ." "Apple is probably best positioned of the three to exceed the March quarter," Munster said. The company beat revenue expectations for the quarter , according to Refinitiv, but reported its slowest year of growth in its time as a public company. "When we look at the three tonight, Google was the one that had the highest growth rate relative to expectations," Munster said.

Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. "Shareholders don't want to hear it, but you really have great difficulty selling a company at a good price today," the widely followed activist investor Icahn told Insider. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.

Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. That means that the sale of companies like Southwest Gas is off the table for the time being — or will get done at prices far lower than before. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.

[1/2] Taiwanese President Tsai Ing-wen announces to resign as Democratic Progressive Party chair to take responsibility for the party's performance in the local elections in Taipei, Taiwan, November 26, 2022. REUTERS/Ann WangTAIPEI, Nov 27 (Reuters) - Attention is turning to Taiwan's next presidential election in 2024 after the ruling Democratic Progressive Party (DPP) was thrashed at local elections on Saturday, with President Tsai Ing-wen's move to focus on China backfiring with voters. Speaking to reporters late on Saturday at party headquarters, its chairman Eric Chu said the KMT understood that only by uniting could it win. But Tsai's strategy failed to mobilise voters, who disassociated geopolitics from the local elections which traditionally focus more on issues from crime to pollution. Taiwan Foreign Minister Joseph Wu said last week Taiwan was seeing less Chinese interference ahead of the local elections, possibly due to China's own domestic problems and its efforts to improve its international image.

☆ Insider buying: This CEO bought roughly $5 million of his stock after an activist investor lawsuit
▼ + stars: | 2022-11-18 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The CEO of medical device company Masimo bought roughly $5 million of stock over the past week, adding to his stake shortly after a lawsuit from an activist investor. Masimo : CEO Joe Kiani made two groups of purchases worth nearly $5 million in total on Nov. 11 and Nov. 14. Corebridge Financial : director Alan Colberg bought about $688,000 worth of stock on Nov. 10. Cogent Communications : director Marc Montagner bought roughly $549,000 of stock on Nov. 9. The purchase of Cogent stock by Montagner is the largest ever insider purchase for the internet service provider.

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