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☆ Cloud stocks falter as Datadog trims 2023 revenue expectations
▼ + stars: | 2023-08-08 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Cloud stocks slipped on Tuesday, after one of the more prominent ones, Datadog , lowered its full-year revenue guidance as organizations remain engaged in cost-saving exercises. Then inflation hit, central bankers raised interest rates, and investors began selling holdings in fast-growing cloud stocks and rotating into safer investments that could more consistently offer returns. Executives at many cloud companies responded by reducing overhead, sometimes in the form of layoffs. Cloud stocks began to rebound, but many, including Datadog, have yet to trade above their record highs from 2021. Like Datadog, Everbridge , whose software helps companies respond to emergencies, lowered its growth expectations for the full year on Tuesday.

Persons: Datadog, Refinitiv, Olivier Pomel, Pomel, Bernstein, Peter Weed, Covid, RingCentral, Hewlett Packard, Tarek Robbiati, Vlad Shmunis, Sonalee Parekh, Patrick Brickley Organizations: Computing Fund, Bernstein Research, Nasdaq Locations: U.S, Smartsheet, Snowflake

☆ 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

☆ Exclusive: Software company Enfusion draws takeover interest from private equity, Irenic Capital
▼ + stars: | 2023-06-26 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

NEW YORK, June 26 (Reuters) - Software company Enfusion Inc (ENFN.N) is attracting takeover interest from private equity firms and strategic buyers, several people familiar with the matter said. Enfusion's management has been approached in recent months by Francisco Partners, Vista Equity Partners and investment firm Irenic Capital Management, said the sources who asked not to be identified because the talks are private. The company has experienced turbulence in the executive ranks, with its chief executive officer and chief financial officer resigning just months apart from one another last year. The name of the private equity partner could not be learned. Irenic, which was co-founded by Elliott Management veteran Adam Katz and former Indaba Capital partner Andy Dodge, recently worked with private equity giant Apollo Global Management to buy industrial parts manufacturer Arconic.

Persons: Irenic, Oleg Movchan, Enfusion, Adam Katz, Andy Dodge, Katz, Dodge, Elliott, Deutsche Boerse, Svea Herbst, Bayliss, Nick Zieminski Organizations: YORK, Enfusion Inc, Francisco Partners, Vista Equity Partners, Irenic Capital Management, Francisco, Elliott Management, Indaba, Apollo Global Management, Arconic, Harvard, Nasdaq, Deutsche, Svea, Thomson Locations: Vista

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