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Qualcomm recently approached struggling chipmaker Intel about a takeover, CNBC has confirmed. Intel shares initially popped on the news before closing up about 3%, while Qualcomm shares fell about 3% at the close. Intel shares are down 53% this year as investors express doubts about the company's costly plans to manufacture and design chips. Intel has also missed out on the artificial intelligence boom that's captured the attention of Wall Street. Intel was unsuccessful with its attempted acquisition of Tower Semiconductor, as was Qualcomm in its bid to acquire NXP Semiconductor.

Persons: Patrick Gelsinger, Trump Organizations: Qualcomm, Intel, CNBC, Taiwan Semiconductor Manufacturing Company, Samsung, Nvidia, Tower Semiconductor, NXP Semiconductor, Broadcom, Federal Trade Commission Locations: China, Singapore, Europe, Asia

☆ Masimo CEO Joe Kiani ousted from board after proxy fight; Politan wins two seats
▼ + stars: | 2024-09-19 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Activist investor Politan Capital won the two board seats it was seeking at medical technology company Masimo , defeating founder and CEO Joe Kiani and another director, Chris Chavez, at the shareholder vote. Politan nominees Darlene Solomon and Bill Jellison will join Politan investment chief Quentin Koffey and former Johnson & Johnson executive Michelle Brennan, who obtained board seats in a prior proxy fight last year. The extended proxy fight was marked by a fierce legal battle. The victory for Politan will likely result in the departure of CEO Kiani as well as operating chief Bilal Muhsin. WATCH: Masimo CEO on the proxy fight

Persons: Joe Kiani, Chris Chavez, Politan, Darlene Solomon, Bill Jellison, Quentin Koffey, Johnson, Michelle Brennan, Politan's, Chavez, Masimo, Koffey, Kiani, Bilal Muhsin, Muhsin Organizations: Politan Capital, Healthcare, Consumer, Apple, Apple Watch

Intel CEO Pat Gelsinger holds a sample of a wafer during his keynote speech at the Computex conference in Taipei on June 4, 2024. Intel shares jumped 8% in extended trading Monday after the company said it plans to turn its foundry business into an independent unit with its own board and the potential to raise outside capital. Gelsinger said the restructuring would allow the foundry business to "evaluate independent sources of funding," and comes days after Intel's board met to assess the direction and future of the company. The foundry business, which Intel plans to use to manufacture chips for other customers, has been a big drag on its bottom line, with the company spending roughly $25 billion on it in each of the last two years. With a standalone "operating board" and a cleaner corporate structure, the mechanics of a separation become far easier than trying to turn a fully integrated unit into a separate company.

Persons: Pat Gelsinger, Pat Gelsinger's, Gelsinger Organizations: Intel, Nvidia Locations: Taipei, Altera

☆ Biden administration awards Intel up to $3 billion under the Chips Act
▼ + stars: | 2024-09-16 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +2 min

The Biden Administration on Monday awarded Intel up to an additional $3 billion under the CHIPS and Science Act for the "Secure Enclave" program which is designed to expand the supply of microelectronics for the U.S. Department of Defense. Intel is building foundry plants in four states as part of its project to increase domestic semiconductor manufacturing for other suppliers. In March, the Biden administration awarded Intel with up to $8.5 billion under the CHIPS and Science Act. Intel CEO Pat Gelsinger, in a recent meeting with Commerce Secretary Gina Raimondo, voiced frustration over the heavy reliance that U.S. companies have on Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker. The company announced in August it would cut 15% of its workforce as part of a $10 billion cost-reduction plan.

Persons: Biden, Pat Gelsinger, Gina Raimondo, Intel's, Chris George, —, Seema Mody, Rohan Goswami Organizations: Biden, U.S . Department of Defense, Intel, CNBC, Taiwan Semiconductor Manufacturing, Department of Defense, Rapid, Microelectronics, United States Locations: United

☆ Activist investor Engine Capital pushes for new board at Upwork after taking 4% stake
▼ + stars: | 2024-09-13 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Close-up of sign at entrance to Silicon Valley headquarters of outsourcing and freelancing company Upwork, Mountain View, California, May 3, 2019. Activist investor Engine Capital has a roughly 4% stake in freelance marketplace Upwork and is pushing for a shakeup to the company's board. Upwork shares rose more than 3% on the news in pre-market trading Friday. Engine singled out several Upwork directors, including Chairman Thomas Layton and Greg Gretsch, for their lengthy tenures. Meanwhile, none of Upwork's directors have any apparent experience in staffing industry, the activist said.

Persons: Hayden Brown's, Brown, Arnaud Ajdler, Thomas Layton, Greg Gretsch, Splunk, Gary Steele, Ajdler, Upwork, Fiverr, Upwork didn't Organizations: CNBC Locations: Silicon, View , California

☆ Norfolk Southern CEO Alan Shaw replaced by CFO after alleged affair with legal chief
▼ + stars: | 2024-09-11 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Alan Shaw, President and CEO, Norfolk Southern at the NYSE, June 7, 2022. Norfolk Southern CEO Alan Shaw is out effective immediately after the board determined he engaged in a consensual relationship with chief legal officer Nabanita Nag, the company announced Wednesday. The company announced Nag would be terminated as well, based on the board's preliminary investigation. "I am honored to take on this role and lead Norfolk Southern," George said in a press release. George has served as Norfolk Southern's CFO for nearly five years and was integral to the company's efforts to stave off activist investor Ancora.

Persons: Alan Shaw, Nabanita Nag, Mark George, Nag, Shaw, George, Ancora Organizations: Norfolk, NYSE, Norfolk Southern, CNBC Locations: Norfolk Southern, Norfolk

☆ Norfolk Southern board probe focusing on CEO's relationship with chief legal officer
▼ + stars: | 2024-09-11 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Norfolk Southern CEO Alan Shaw testifies at a hearing before the Senate Environment and Public Works Committee on protecting public health and the environment in the wake of the Norfolk Southern train derailment and chemical release in East Palestine, Ohio in Washington, D.C., the United States, March 9, 2023. The board's focus on that other executive, chief legal officer Nabanita Nag, has not previously been detailed. Norfolk Southern said it won't comment until the conclusion of the probe. The Wall Street Journal earlier reported that Shaw was expected to resign, citing people familiar with the matter. The railroad's board is presented with a significant challenge: the alleged relationship involves the chief executive and Nag, who is also the company's corporate secretary — the two executives which have the most contact with the board.

Persons: Alan Shaw, Ancora, Nabanita Nag, Nag, Shaw, We're, Scott Bunten, We've, haven't, Bunten Organizations: Norfolk Southern, Environment, Public, Washington , D.C, of Locomotive Engineers, Trainmen, CNBC, Norfolk, Street Locations: Norfolk, East Palestine , Ohio, Washington ,, United States

A Southwest Airlines plane takes off from Hollywood Burbank Airport above other Southwest planes on July 25, 2024 in Burbank, California. Southwest Airlines said Tuesday that executive chairman and former CEO Gary Kelly will retire next year and announced a board shakeup, moves that come as the carrier faces pressure for changes by activist investor Elliott Investment Management. Elliott in June revealed a nearly $2 billion stake in Southwest, seeking to oust leadership, including CEO Bob Jordan, who has also spent nearly four decades at the carrier. Southwest has also brought in outside experts, including Bob Fornaro, former CEO of Spirit Airlines and AirTran, which Southwest acquired. Southwest has an investor day scheduled for Sept. 26 in Dallas to expand on these and other initiatives.

Persons: Gary Kelly, Kelly, Herb Kelleher, Elliott, Bob Jordan, Bob Fornaro Organizations: Southwest Airlines, Elliott Investment Management, Southwest, Dallas, Texas, Spirit Airlines, Boeing, U.S Locations: Hollywood, Burbank , California, Southwest, Dallas

Rupert Murdoch at his annual party at Spencer House, St James' Place in London. Activist investor Starboard Value moved Friday to dissolve News Corp's dual-class share structure, a challenge to the Murdoch family's control over the Wall Street Journal parent, according to people familiar with the matter. News Corp's structure as of September gave Rupert Murdoch control over around 40% of the company's voting stock. Last November, Rupert Murdoch, 93, stepped down as chair of the board at both News Corp and Fox Corp. His son, Lachlan Murdoch, is the sole chair of News Corp., and continued his role as Fox Corp.'s executive chair and CEO.

Persons: Rupert Murdoch, St James, Murdoch, Jeff Smith, Smith, Lachlan Murdoch Organizations: Spencer, Wall Street Journal, News Corp, CNBC, REA Group of Australia, New York Times, Wall Street, Fox Corp, Reuters, Autodesk, Match, . News Corp, Sun, HarperCollins Locations: London

☆ Intel has hired Morgan Stanley, other advisers for activist defense
▼ + stars: | 2024-08-23 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Intel is working with advisors including Morgan Stanley to help defend itself against activist investors, according to people familiar with the matter, as CEO Pat Gelsinger attempts to turn around the struggling chipmaker. While Intel has faced activist pressure in the past, no new campaign has been formally launched and it isn't clear if an activist investor has been in contact with the company's board. Morgan Stanley has previously worked with Intel, including in the company's 2022 spinoff of Mobileye . The sources with knowledge of Morgan Stanley's latest involvement asked not to be named due to confidentiality. Representatives for Intel and Morgan Stanley declined to comment.

Persons: Morgan Stanley, Pat Gelsinger, Morgan Stanley's, it's, Dan Loeb's, Frank Yeary, Camberview, Tan, — CNBC's Alex Sherman, Kif Leswing Organizations: Intel, Nvidia, Devices, Broadcom, Qualcomm, Texas, Wall

Starbucks announced Tuesday it's replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump. Before joining Starbucks, Narasimhan was chief executive of Reckitt, which owns brands like Lysol and Mucinex. Narasimhan's surprise ouster also suggests that Starbucks' board isn't interested in a deal with activist investors. When news of Elliott's stake in Starbucks first broke in July, the hedge fund offered Starbucks' board a settlement that would protect Narasimhan's job, CNBC previously reported. Starbucks' board did not initially respond or engage with Elliott for some time, driven in part by the lingering influence of Schultz.

Persons: Laxman Narasimhan, Brian Niccol, Rachel Ruggeri, Niccol, Narasimhan, Howard Schultz, Elliott, Chipotle, Mellody Hobson, shakeup, Brian, Hobson, he's, Bell, Narasimhan's, Schultz, Scott Boatwright, Jack Hartung Organizations: Starbucks, Elliott Management, Yum Brands, Bell, CNBC Locations: U.S, China, Chipotle, Pizza

Activist investor Elliott Management is preparing to launch a proxy fight at Southwest Airlines , and intends to nominate as many as 10 directors to the company's 15-person board, according to a person familiar with the matter. Elliott plans to call a special meeting, rather than waiting for the company's annual shareholder meeting, the person said. Elliott needs to own at least 10% of the company in order to call a special meeting, under Southwest's bylaws, a threshold that it will likely cross soon. Southwest rebuffed those requests, and CEO Jordan since told CNBC that Elliott's engagement with the company had not been meaningful. The activist had already intimated that it would seek to call for a special meeting in its second letter to Southwest's board.

Persons: Elliott, Southwest's, Bob Jordan, Gary Kelly, Jordan, Brian Niccol Organizations: Elliott Management, Southwest Airlines, CNBC, Starbucks, Southwest, Budget, Spirit Airlines, Wall Street Locations: U.S

☆ Starbucks and activist Elliott met last week to discuss settlement
▼ + stars: | 2024-08-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Laxman Narasimhan attends the 2023 TAAF Annual AAPI CEO Dinner at The Pool on September 26, 2023 in New York City. Activist Elliott Management and Starbucks ' board of directors are in settlement talks, according to people familiar with the matter. Elliott and Starbucks' directors met last week to discuss the activist's settlement offer, said the people, who requested anonymity to discuss private matters freely. CNBC's David Faber reported Monday that settlement talks, if successful, could result in Elliott managing partner Jesse Cohn becoming a Starbucks director. Elliott has amassed a Starbucks stake valued at up to $2 billion, CNBC previously reported.

Persons: Laxman Narasimhan, JP Yim, Elliott, CNBC's David Faber, Jesse Cohn, Cohn, Howard Schultz Organizations: Asian American Foundation, Elliott Management, Starbucks, CNBC, Wall Street, Elliott, Texas, Southwest Airlines Locations: New York City, Salesforce, China

☆ Airbnb shares drop 14% on earnings miss as company warns of slowing U.S. demand
▼ + stars: | 2024-08-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Airbnb CEO and co-founder Brian Chesky speaks at The Fast Company Innovation Festival on September 21, 2022, in New York. Airbnb shares dropped 14% in after-hours trading after the company reported second-quarter earnings that missed analyst expectations and warned that it's seeing signs of slowing demand from U.S. customers. Here's how the company did compared to LSEG estimates for the quarter ended June 30:Earnings per share: $0.86 versus $0.92 expected. Revenue: $2.75 billion versus $2.74 billion expected. It also cautioned that it was "seeing shorter booking lead times globally and some signs of slowing demand from U.S.

Persons: Brian Chesky, Airbnb Organizations: Revenue, Asia Pacific, Federal Reserve Locations: New York, Latin America

☆ Starboard pushes Autodesk board to weigh CEO change, cost cuts
▼ + stars: | 2024-08-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Activist investor Starboard Value has been engaging with the board of Autodesk , continuing its push to improve the company's operations and financial performance, according to a presentation viewed by CNBC. Starboard wants Autodesk's board to reassess whether CEO Andrew Anagnost, who has helmed the software maker for seven years, is the right person to lead the company forward, according to the presentation. The activist investor has shared the presentation's findings with Autodesk's board in recent weeks, after disclosing a $500 million stake in the company earlier this year. Starboard is also pushing for cost cuts and a realigned executive compensation plan, all of which it believes can drive margin improvement of up to 1,000 basis points. But Starboard has shown no signs of relenting, continuing to press the company and shareholders for change.

Persons: Andrew Anagnost, Anagnost, Dow Jones, Deborah Clifford, Jeff Smith Organizations: Autodesk, CNBC, GoDaddy Locations: Delaware, Salesforce

☆ Trump's tech backers are 'making a big mistake,' Sequoia's Mike Moritz says
▼ + stars: | 2024-08-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

As leading tech investors continue to vocally take sides ahead of the 2024 presidential election, legendary venture capitalist Michael Moritz is making his preference clear. In a Financial Times opinion piece published Monday, Moritz wrote that those in the industry who are supporting Donald Trump "are making a big mistake." Moritz was referring to Trump's conviction, earlier this year, on 34 felony counts in New York State court. Other Trump backers include venture capitalists David Sacks and Joe Lonsdale as well as Doug Leone, Moritz's longtime partner at Sequoia. Moritz wrote in his op-ed that Trump's tech financiers and supporters were "making the same mistake as all powerful people who back authoritarians."

Persons: Michael Moritz, Moritz, Donald Trump, Moritz —, LinkedIn —, Trump, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Elon Musk, David Sacks, Joe Lonsdale, Doug Leone, Moritz's, He's, Reid Hoffman, Kamala Harris, Joe Biden, VCs, Harris, Kamala, Arnold Schwarzenegger, Mitt Romney, John Kasich's, OpenSecrets Organizations: Sequoia Capital, Google, PayPal, LinkedIn, Trump, Tesla, Sequoia ., Democratic, Trump Lincoln Project, Republican, Tech Locations: Sequoia, New York, Silicon Valley, California, Ohio

As U.S. markets opened for trading on Monday, tech's mega-cap companies lost about $1 trillion in market cap, deepening a downturn that sent the Nasdaq into correction territory last week. Nvidia shed more than $300 billion in market cap at the opening bell, though it quickly recovered about half of its loss. The company surpassed $3 trillion in market cap and briefly passed Microsoft and Apple to become the world's most valuable company. Its market cap now sits below $2.5 trillion. A widely-read Goldman Sachs note from June warned that the biggest-spending companies had little to show for their AI expenditures.

Persons: Bitcoin, It's, Mark Zuckerberg, Sundar Pichai, Goldman Sachs Organizations: New York Stock Exchange, Nasdaq, Nvidia, Apple, Microsoft, Nikkei, Google, Elliott Management Locations: U.S, Meta, cryptocurrency

☆ Elliott's 'constructive' Starbucks engagement complicated by Howard Schultz's looming presence
▼ + stars: | 2024-08-01 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

CEO of Starbucks Howard Schultz back stage with soon to be Starbucks CEO Laxman Narasimhan at Starbucks Headquarters during Investor Day in Seattle, Washington Tuesday September 13, 2022. Looming over the negotiations is Starbucks' former CEO Howard Schultz, who stepped off the board last year but remains one of the company's top shareholders and is forever entitled to attend Starbucks board meetings unless barred by Starbucks' directors. Schultz has privately expressed to some directors his opposition to Elliott's settlement offer, The Financial Times reported earlier. A Starbucks spokesperson declined to comment on whether Schultz, who has a close relationship with Hobson and other Starbucks directors, had attended board meetings where Elliott's settlement offer was discussed. Schultz hasn't said why he opposes Elliott's offer, and his representatives didn't return multiple requests for comment.

Persons: Starbucks Howard Schultz, Laxman Narasimhan, Elliott, Mellody Hobson, hasn't, Howard Schultz, Schultz, Hobson, Narasimhan, Schultz hasn't Organizations: Starbucks, Starbucks Headquarters, Investor, Elliott Management, Financial Times, CNBC Locations: Seattle , Washington, China

☆ Johnson Controls CEO to retire after 'constructive' conversations with activist Elliott; shares surge
▼ + stars: | 2024-07-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Johnson Controls CEO George Oliver will retire from the top job at the industrial conglomerate, the company announced Wednesday morning, after "constructive dialogue" with Elliott Management, which amassed a stake in the company earlier this year. "I believe that now is the right time to begin the process of identifying the next leader of the new Johnson Controls," Oliver said in a release. Johnson Controls' shares surged more than 9% on the news in premarket trading Wednesday. The company also announced, with Elliott's blessing, that it would appoint former Xylem CEO Patrick Decker to its board effective immediately. Elliott's stake in the HVAC giant was worth more than $1 billion earlier this year, according to a person familiar with the matter.

Persons: George Oliver, Johnson, Oliver, Patrick Decker, George, Elliott, Marc Steinberg, Steinberg, Elliott's Organizations: Johnson, Elliott Management, Johnson Controls, Bosch

Wiz has walked away from a $23 billion deal to be acquired by Google, in what would have been the search giant's largest-ever deal, telling employees it would pursue an initial public offering as it initially planned. The deal would have nearly doubled the $12 billion valuation of the startup from its most recent round of funding. Alphabet's cloud segment has been under pressure to grow amid competition from frontrunners Microsoft and Amazon, something the Wiz deal would have helped with. The shift benefited Wiz, which can flag security issues for applications and data on the Amazon, Google, Microsoft and Oracle public clouds. In an interview with CNBC's Sara Eisen and Carl Quintanilla at the New York Stock Exchange last year, Eisen asked Rappaport if he wants to take the startup public.

Persons: Sundar Pichai, Wiz, Assaf Rappaport, Rappaport, Thomas Kurian, Brendan Burke, It's, Doug Leone, Covid, Sid Trivedi, CNBC's Sara Eisen, Carl Quintanilla, Eisen Organizations: Alphabet Inc, Government, Society, Google, CNBC, Microsoft, Index Ventures, Insight Partners, Lightspeed Venture Partners, Sequoia, PitchBook, Intuit, Ventures, Sequoia Capital, Wiz's, Wiz, Oracle, Foundation Capital, Motorola, Lenovo, New York Stock Exchange Locations: Stanford , California, Sequoia

☆ CNBC Daily Open: Biden drops out
▼ + stars: | 2024-07-22 | by ( Abid Ali | ) www.cnbc.com time to read: +5 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Starbucks stake Activist investor Elliott Management has taken a substantial stake in Starbucks and is engaging with management to boost the company's share price, according to the Wall Street Journal. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Big Tech faces the challenge of rekindling Wall Street's enthusiasm after a $900 billion tech rout.

Persons: haven't, Stephanie Pope, Max, Elliott Management, Laxman Narasimhan, Howard Schultz, CNBC's Jim Cramer, Elon Musk, Dan Ives, Lina Khan, Khan, Ives, CrowdStrike, Fred Imbert, —, Alex Harring, Jesse Pound, Kevin Williams, Leslie Josephs, Josie Rozzelle, Kevin Breuninger, Dan Mangan, Zev Fima, Spencer Kimball, Rohan Goswami Organizations: CNBC, Dow, Boeing, Farnborough, Wall Street, Starbucks, Trump, Microsoft, Securities, Big Tech, Google, Apple Locations: London, New York, New Delhi, Washington

Elliott Management has taken a significant stake in coffee chain Starbucks and is engaging with management to find ways to improve the company's share price, the Wall Street Journal reported Friday, citing people familiar with the matter. The firm did not hold a Starbucks stake as of March 31, its most recent disclosure. In April, the company reported disappointing quarterly results, with U.S. same-store sales falling 3% and traffic dropping 7%. Starbucks reported rates of incomplete mobile app orders in the mid-teens and said occasional customers came in less often. Narasimhan was hand-picked by returnee Starbucks CEO Howard Schultz to lead the company after his prior successor, Kevin Johnson, stepped down.

Persons: Elliott, Johnson, Laxman Narasimhan, Narasimhan, Howard Schultz, Kevin Johnson, Schultz, — CNBC's Amelia Lucas Organizations: Elliott Management, Wall Street, Starbucks, Southwest, Johnson Controls, Texas Instruments, Strategic, Center, U.S Locations: SoftBank

☆ Activist investor Starboard says it's acquired 6.5% stake in Match Group
▼ + stars: | 2024-07-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Smith has been speaking with Match management about its plans, according to the letter, which was viewed by CNBC. In the letter, Smith wrote that Tinder enjoyed enviable and viral growth for years but has been stymied of late by sluggish innovation. But if Match is unable to more broadly turn around its business, the company should consider going private, Smith said. A Match spokesperson said in an emailed statement that the company is in communication with Starboard and other investors. Starboard isn't the first activist to put pressure on Match.

Persons: Jeff Smith, Starboard's Jeff Smith, Bernard Kim, Smith, Tinder, Kim, Anson, Elliott, Salesforce, Splunk Organizations: Bloomberg Television, CNBC, Wall Street, Zynga, Elliott Management, Autodesk, Cisco Locations: New York, U.S, Tinder, GoDaddy

☆ Proxy advisor ISS says Masimo change is 'absolutely necessary' in brutal report
▼ + stars: | 2024-07-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Joe Kiani, Founder, Chairman & CEO, Masimo; on Startup University Stage on day three of Collision 2024 at the Enercare Centre in Toronto, Canada. Masimo under Kiani's leadership "has continued to display a dangerous lack of accountability to shareholders that will require additional board change to rectify," ISS wrote. By contrast, ISS wrote, Politan "has presented a logical plan" and nominees which "appear to be appropriate." ISS wrote that such threats were unacceptable. "Under no circumstances should shareholders ever abide ultimatums or threats from a CEO, at MASI or anywhere else," the proxy advisor wrote, referring to Masimo's stock ticker.

Persons: Joe Kiani, Masimo, Bill Jellison, Darlene Solomon, Glass Lewis, Kiani, Biden, Kiani's Organizations: Enercare, Services, CNBC, Politan Capital, ISS, Politan Locations: Toronto, Canada, MASI

The Macy's company logo is seen at the Macy's store on Herald Square on January 19, 2024 in New York City. Macy's department-store chain announced that they will be laying off roughly 2,350 employees which is about 3.5% of their workforce. Arkhouse and Brigade had for months been attempting to buy out the storied retailer. Arkhouse, after its initial efforts had been rebuffed, said earlier this year it intended to mount a proxy fight for control of Macy's. But the legacy department store operator's efforts to grow sales have been stymied by high inflation, as consumers become more selective about spending on discretionary items.

Persons: Michael M, Macy's, Macy, Paul Varga, Arkhouse, Tony Spring, It's, Maxx, Spring Organizations: Getty, Brigade, Target Locations: New York City, Macy's, Bloomingdale's

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