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☆ Activist Starboard Value demands Autodesk explain accounting, financial issues
▼ + stars: | 2024-06-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Activist investor Starboard Value on Tuesday sent a letter to Autodesk's board, demanding that the company explain to shareholders who and what was behind an internal financial probe that sparked federal investigations and revealed deliberate misrepresentation of key financial metrics. The activist investor wrote in its letter that there had been "no consequences and no accountability for those involved in this purposeful misleading of shareholders." A representative for Autodesk did not immediately return a request for comment. The internal probe led to the reassignment of its chief financial officer and prompted inquiries from financial regulators and the Justice Department. The activist wrote that it had received "overwhelmingly positive feedback" from other investors frustrated with Autodesk's perceived "poor corporate governance."

Persons: Jeff Smith, Smith, Debbie Clifford Organizations: Autodesk, Justice Department, Company Locations: Delaware

☆ Starboard loses initial legal fight against Autodesk, but the battle may just be beginning
▼ + stars: | 2024-06-22 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. With 90%+ gross margins and 35% operating margins, Autodesk is a leader in AEC software. Further, its operating margins are not much worse than those of its peers at first blush. However, Starboard correctly does not judge the company's operating margins on the mean of its peer set, but by the potential embodied in its gross margins and market position. He no longer serves on the board of Autodesk, but he could certainly be an informal advisor to Starboard – or a cautionary tale for Autodesk.

Persons: Max, Russell, Deborah Clifford, Clifford, bode, Sachem, Andrew Anagnost, designees, Rick Hill, Hill, designee, Ken Squire Organizations: Autodesk, Engineering, Manufacturing, Media, Entertainment, Manufacturing Solutions, Wonder, Delaware Chancery, —, U.S . Securities, Exchange Commission, Delaware Court, Marvell Technology, Symantec, 13D Locations: Delaware, Autodesk's

Dara Treseder, CMO, AutodeskAutodeskSince joining Autodesk in 2022, Treseder has been instrumental in driving brand awareness for the design industry software company, boosting new business, and increasing customer satisfaction scores. Her efforts have helped Autodesk exceed its marketing-contributed pipeline targets by 41% and increase campaign conversion rates by 30%, the company said. In 2023, Treseder led five attention-grabbing brand activations that reached 178 million people, improved brand reach by 4%, and boosted web traffic referrals from social media by 44%. Treseder has also been shepherding the launch of Autodesk's generative AI 3D-modeling technology. Treseder has been particularly successful in driving growth for Autodesk's education business, with users increasing by 20 million since she joined the company.

Persons: Dara Treseder, Treseder, That's Organizations: Autodesk Autodesk, Autodesk, Marvel, New York Times, Design, Howard University, Public Health Institute, Autodesk Foundation Locations: Las Vegas, South Africa

☆ Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosure
▼ + stars: | 2024-06-17 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Starboard's stake is valued at roughly $500 million, according to people familiar with the matter. The results of that probe led to the ouster of Autodesk's then-CFO, Deborah Clifford, who was moved to a different executive role within Autodesk. The probe found that executives manipulated reporting tied to company's contract billing structure, as Autodesk shifted back to upfront payments from annualized payments, to improve those metrics. The delayed disclosure came a little more than a week after the deadline to nominate directors closed. Starboard is weighing legal action in Delaware Chancery court to compel the reopening of Autodesk's nominating window and the delay of Autodesk's annual meeting, the people said.

Persons: Jeff Smith, Autodesk's, Deborah Clifford, Marc Benioff's Salesforce Organizations: Autodesk, Securities and Exchange Commission, Cisco, Wall Street, Sachem, Capital Management, Eminence Capital, Justice Department, SEC Locations: Delaware

☆ Activist Starboard sues Autodesk in bid to mount proxy fight
▼ + stars: | 2024-06-17 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Starboard Value sued software maker Autodesk on Monday to delay the company's annual meeting and reopen the board nominating window and allow the activist to mount a proxy fight. Activists can typically only begin a proxy fight, involving the nomination of a slate of directors to replace the existing board, if they submit their proposals within a specific window. Starboard confirmed in a letter on Monday that it has a stake in Autodesk valued at more than $500 million. The company waited until April 1 to tell shareholders about the investigation, filings show, which was more than a week after the nominating window had closed. An Autodesk representative referred CNBC to its prior statements on the matter, where it said it would refuse Starboard's requests to reopen the nominating window and delay the annual meeting.

Persons: Deborah Clifford Organizations: Autodesk, SEC, CNBC Locations: Delaware Chancery

☆ 10 things to watch in the stock market Monday on a holiday-shortened week
▼ + stars: | 2024-06-17 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

For the week: The tech-heavy Nasdaq gained 3.2%, while the S & P 500 rose 1.6% and the Dow fell 0.5%. The analysts raised their price target to $106 per share from $85. There were several price target bumps on Micron ahead of earnings next week on June 26. Nike price target was lowered to $114 per share from $116 at Morgan Stanley. Citigroup price target was increased to $66 per share from $63 by RBC Capital.

Persons: Wedbush's Ives, Toll, Goldman Sachs, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Dow, Fed, Citi, UBS, Microsoft PT, Microsoft, Apple, Union Pacific, Loop, Autodesk, Wall Street, Micron, Bank of America, PT, Nike, Citigroup, RBC Capital, Jim Cramer's Charitable, CNBC, Dow Nasdaq, Microsoft Apple, Union Pacific Activist Investor, Micron Nike Citigroup

☆ Autodesk's CMO explains why advertising on the MSG Sphere in Vegas, which reportedly costs $450,000 a day, was worth every penny
▼ + stars: | 2023-11-29 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

@brycebetts132 I've watched every video of the Sphere in Vegas and this new ad is by far my favorite. By comparison, running a billboard campaign in New York's Times Square for one to three days costs between $5,000 and $25,000, according to outdoor advertising company Inspiria Outdoor. A representative for the Sphere Entertainment Company said the company doesn't discuss financials. One TikTok video, which has notched up more than 14,000 likes, declared it " the best Sphere ad ." The Sphere debuted its first advertising campaign in September of this year and has featured brands including YouTube, the NBA, Heineken and Xbox.

Persons: @brycebetts132 I've, ♬, Dara Treseder, Treseder, tentacled, Ryan Reynolds, Otto Desć, Carla Herrero, Herrero Organizations: Autodesk, Marvel, Business, ♬ Marvel Studios, Sphere Entertainment, Autodesk University, YouTube, NBA, Heineken, Xbox, University College London, Mercedes, AMG PETRONAS Formula One Locations: Las Vegas, Vegas, New

☆ Autodesk sees annual revenue above estimates amid robust client spending
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

Nov 21 (Reuters) - Autodesk (ADSK.O) forecast full-year revenue above market estimates on Tuesday, in a sign that client spending on its design software remains resilient in an uncertain economy. Shares of the San Francisco-based company rose 2.8% after market, as it also posted higher revenue and profit in the third quarter. The company has been benefiting from higher sales and recurring revenue as clients in the construction sector look to optimize their industrial design software despite high borrowing costs. Autodesk, whose AutoCAD software is used by construction, engineering and manufacturing companies, expects full-year revenue to be in the range of $5.45 billion to $5.47 billion, compared with LSEG estimates of $5.43 billion. Autodesk's architecture, engineering and construction segment reported a 17% rise in revenue from a year earlier to $675 million.

Persons: Zaheer Kachwala, Pritam Biswas, Shilpi Majumdar Organizations: Autodesk, Cadence Design Systems, Thomson Locations: San Francisco, Bengaluru

☆ Big Tech said return to the office. She had another solution
▼ + stars: | 2023-10-24 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +10 min

New York CNN —Big Tech has given workers an ultimatum: Come back to the office, or find a new job. However, the program risked letting all employees work from home or any other remote location. Intentional office gatheringsAhead of instituting Flex Forward, Autodesk was “rethinking our office footprint,” Blum said. For instance, Autodesk closed its San Rafael, California, office; consolidated it with the San Francisco headquarters; and started subleasing some of its office space. But, increasingly, the talent acquisition team is seeing more candidates apply for openings because they view Autodesk as “that remote company,” Pearce added.

Persons: Elon Musk, Mark Zuckerberg, Rebecca Pearce, Pearce, “ I’m, ” Pearce, ”, Steve Blum, Autodesk’s, it’s, ” Musk, Jamie Dimon, Michael Nagle, —, “, doesn’t, Andy Jassy, Jassy, don’t, ’ ”, ” Blum, Blum Organizations: New, New York CNN, Big Tech, Autodesk, Flex, CNN, Autodesk Inc, ”, Meta, JPMorgan, Bloomberg, Getty, ” Autodesk, La Nacion, “, San, Employees Locations: New York, Cornwall, England, North America, Autodesk’s Portland , Oregon, Portland , Oregon, La, Rafael , California, San Francisco, cubicles, Autodesk's Portland , Oregon

☆ Autodesk CEO: Here's how we were able to beat on all key metrics
▼ + stars: | 2023-08-24 | 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 EmailAutodesk CEO: Here's how we were able to beat on all key metricsAndrew Anagnost, Autodesk CEO, joins 'Squawk on the Street' to discuss the company's quarterly earnings results, Autodesk's media and entertainment business, and more.

Persons: Andrew Anagnost Organizations: Autodesk

☆ Cramer's Lightning Round: Wingstop is a buy
▼ + stars: | 2023-08-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Public Storage's year-to-date stock performance. Public Storage : "I like that...I'm gonna have to say [buy, buy, buy!]" Stock Chart Icon Stock chart icon RingCentral's year-to-date stock performance. Buy, buy, buy!" Stock Chart Icon Stock chart icon Autodesk's year-to-date stock performance.

Persons: I'm, It's Organizations: Primoris, Scotts, Scotts Miracle, Autodesk

Dara Treseder, chief marketing officer, AutodeskDara Treseder, the chief marketing officer at Autodesk. Autodesk is a software company that makes products architects and engineers often use, but its name isn't well-known beyond the professionals that rely on its tools. Within 30 days of joining the company, Treseder worked with Ryan Reynolds' agency, Maximum Effort, to launch the company's first TV ad in over ten years. The company's next TV-related success was the "Otto Desć" campaign during the 2023 Oscars, which got over 25 million views. Treseder worked with the French government to launch a campaign on the Autodesk website to make sure consumers knew of Autodesk's contribution.

Persons: Dara Treseder, Autodesk Dara Treseder, —, Treseder, she's, Ryan Reynolds, Otto Desć, influencers Organizations: Autodesk, Autodesk —, Notre Dame Cathedral

☆ No office tower is safe from the roiling market — not even a trophy building housing Google and Visa deemed one of the best
▼ + stars: | 2023-05-10 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

Potential problems at One Market Plaza show how far San Francisco's office market may fall. One Market Plaza has long been considered the pinnacle of San Francisco's office market. Autodesk plans to downsize by about 73,000 square feet to 211,000 square feet, a spokeswoman told Insider. Google did not respond to a request for comment on its plans for One Market Plaza. One Market Plaza could indicate how far San Francisco's office woes reachTurbulence at One Market Plaza indicates the extent of the problems facing San Francisco's office market.

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