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☆ Jeff Smith makes for a substitute Warren Buffett
▼ + stars: | 2023-01-30 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

With markets sagging and deals drawing opposition, such imprimaturs have a value - and at Ritchie Bros Auctioneers (RBA.TO), it’s the turn of Starboard Value’s Jeffrey Smith to play rescuer. Heavy equipment auctioneer Ritchie Bros ran into both problems in its $7 billion bid to buy salvage-car portal IAA (IAA.N). Announced in November, it quickly drew opposition from IAA shareholder Ancora and Ritchie investor Luxor Capital. Shareholder opposition is expected in market turmoil. As part of the deal, Starboard Value agreed to invest $500 million in Ritchie Bros, with fund boss Jeffrey Smith taking a seat on Ritchie’s board if the IAA deal succeeds.

☆ Ritchie Bros. Sweetens Deal for IAA, With Starboard’s Jeff Smith Set to Join Board
▼ + stars: | 2023-01-23 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

Ritchie Bros. agreed to add Starboard CEO Jeffrey Smith to its board as part of the agreement, executives at the firms said. Canada’s Ritchie Bros . Auctioneers Inc. agreed to amend the terms of its proposed acquisition of U.S. auto retailer IAA Inc., as activist investor Starboard Value LP plans to make a $500 million investment in Ritchie Bros. Under the terms of the amended agreement, IAA stockholders would receive $12.80 in cash, up from $10, and 0.5252 Ritchie Bros. share for each IAA share. That implies a combined value to IAA stockholders of $44.40 based on Ritchie Bros.’ closing price of $60.17 on Friday. (Previously, the stock component was 0.5804.)

☆ Activist investor Elliott Management takes stake in Salesforce -sources
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

Jan 22 (Reuters) - Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce Inc (CRM.N), according to people familiar with the matter. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott told Reuters. Salesforce did not immediately respond to a Reuters request for comment and Elliott declined to comment. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director.

☆ Activist investor Elliott Management reportedly takes stake in Salesforce
▼ + stars: | 2023-01-23 | by ( ) www.cnbc.com time to read: +2 min

Paul Singer, founder of Elliott Management, speaking at Delivering Alpha in New York on Sept. 13, 2016. Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce Inc, according to people familiar with the matter. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott told Reuters. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director.

Salesforce, which develops cloud-based, customer relationship management software for businesses, has consistently delivered revenue growth in recent years through its subscription-license model. Near-term operating margins Investors will be closely watching operating margins to ensure the company can scale up and expand into new markets, all while maintaining profitability. Last quarter, Salesforce reiterated it expects its operating margin for 2023 to climb by 170-basis points year-over-year, to 20.4%, a bullish forecast in the face of currency headwinds and broader economic uncertainty. In a research note Sunday, analysts at Stifel described the margin expansion forecast as "intriguing in a slower growth environment," while calling the target "highly achievable." Last quarter, Salesforce warned that its customers have taken a more "measured approach" to their businesses due to macro uncertainty.

☆ These are the Dow stocks you want to own the most if the Fed sparks a risk-on rally
▼ + stars: | 2022-11-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Beaten-down stocks could be the big beneficiaries of a potential Federal Reserve-fueled rally this week. It would be the Fed 's fourth straight 0.75 percentage point increase in its campaign to tame inflation. Instead, investors will focus on what Fed Chair Jerome Powell may signal about future rate increases on Wednesday. Any signs that the Fed will slow the pace of tightening could ease investors' fears of a recession and result in a risk-on rally. The iPhone maker is down 13.3% so far this year, far less than other hard-hit tech stocks.

☆ Netflix made huge bets on animation, hiring top talent, but insiders say the streamer neglected marketing and didn't deliver what kids want: 'Where are the farts?'
▼ + stars: | 2022-10-21 | by ( Lucia Moses | Elaine Low | ) www.businessinsider.com time to read: +7 min

The streamer didn't market its kids content enough and didn't pay attention to what children like, insiders said. Netflix hasn't been alone in dialing back on kids animation. "They had these grand plans to make a ton of animation and were going to throw a lot of money at it," said a former Netflix animation exec. But they didn't understand kids and they didn't understand animation," said a separate high-level animation programming executive. Animated series offshoot "The Boss Baby: Back in Business" is technically a Netflix original as it premiered on the streamer.

☆ Salesforce shares jump on report that Starboard has taken a stake
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: 1 min

Oct 18 (Reuters) - Starboard Value LP has taken a stake in Salesforce Inc (CRM.N), CNBC reported, citing the activist investment firm's founder Jeff Smith. Shares of the software firm, which fell about 42% this year, rose more than 7% in trading before the bell. The hedge fund did not disclose the size of the stake in the report. Salesforce said it is committed to acting in the best interests of shareholders, but declined to comment on the stake. Register now for FREE unlimited access to Reuters.com RegisterReporting by Akash Sriram in Bengaluru; Editing by Anil D'Silva and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Starboard Value CEO on new stake in Salesforce: We're thrilled to be an investor
▼ + stars: | 2022-10-18 | 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 EmailStarboard Value CEO on new stake in Salesforce: We're thrilled to be an investorStarboard Value CEO Jeff Smith joins 'Squawk on the Street' to discuss the organization's new stake in Salesforce, market conditions that lead to the investment opportunity and plans to tackle operating margins and grow profit.

☆ Activist investor Starboard reveals stake in Salesforce, sees significant opportunity
▼ + stars: | 2022-10-18 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Jeffrey Smith, CEO of Starboard Value LP and Chairman of Papa John's International Inc.Starboard Value LP has taken a stake in Salesforce, with founder Jeff Smith saying a significant opportunity remains in the enterprise software maker, according to CNBC's David Faber. Smith told Faber the stake is significant without specifying the dollar amount. Smith added that the software company is not generating meaningful operating leverage relative to peers in recent years. The Starboard CEO will be on CNBC at 10:15 a.m. Starboard Value manages about $6.2 billion in assets, according to filings through the first quarter of 2020.

☆ Stocks making the biggest moves midday: Hasbro, Salesforce, Carnival, Lockheed Martin & more
▼ + stars: | 2022-10-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Hasbro — Shares of the toy company dipped 2.3% after the company reported third-quarter earnings that missed expectations. Salesforce — Salesforce shares gained 5.2% after Starboard Value revealed to CNBC that it has taken a "significant" stake in the software giant. Carnival Corporation — Shares of the cruise company jumped more than 12% after one of Carnival's subsidiaries began an offering of $1.25 billion of senior priority notes due 2028. Goldman Sachs — Goldman Sachs rallied 3% after beating third-quarter analyst expectations for profit and revenue on better-than-expected trading results. Lockheed Martin — Shares of the aerospace company jumped 8.5% after Lockheed reported third-quarter earnings of $6.87 per share excluding items, which was higher than a Refinitiv estimate of $6.66 per share.

☆ 3 takeaways from our daily meeting: Banks as market leaders, 3 trades and keeping CRM
▼ + stars: | 2022-10-18 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. We like the banks here We're making 1 sale and 2 buys Don't sell CRM into strength 1. 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.

☆ What Cramer is watching Tuesday — J&J beat, Salesforce gets an activist, stocks surge
▼ + stars: | 2022-10-18 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

What I am looking at Tuesday, Oct. 18, 2022 Club holding Johnson & Johnson (JNJ) reports an impressive quarter. Activist investor Starboard takes a major stake in Club holding Salesforce (CRM), sees significant opportunity. Club holding Microsoft (MSFT) cuts people, continues to invest, but calls for slowest quarterly revenue growth in more than five years. Barclays cuts price target on Charles Schwab (SCHW) to $73 per share from $81. Barclays cuts price target on Unity Software (U) to $33 per share from $49.

☆ An activist investor's profit-focused push at Salesforce is good news for shareholders
▼ + stars: | 2022-10-18 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

An activist investor we respect has taken a notable stake in Club holding Salesforce (CRM), sending shares higher by more than 4% on Tuesday. Rather, we're pleased with Starboard's activist campaign because its goal — creating more value through improved profitability — is good for shareholders. ... For the quality of the business, for their growth opportunity of the business, for the margin opportunity of this business, this is why we get excited about it." Smith added that he's been in contact with Salesforce management since Starboard took its stake and has had "good dialogue with them." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Tesla Megapack battery caught fire at PG&E substation in California
▼ + stars: | 2022-09-20 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

At least one Tesla Megapack caught fire early Tuesday morning at the energy storage facility operated by utility PG&E in Monterey, California. PG&E commissioned the 182.5-megawatt (MW) Tesla Megapack system, known as the Elkhorn Battery at Moss Landing, in April this year. The fires in the energy storage systems at Moss Landing are reminiscent of incidents involving Tesla Megapacks in Australia. Following the fire, some residents near the Elkhorn Battery substation at Moss Landing were told to shelter in place due to emissions. PG&E's Jeff Smith noted, "Safety systems at the facility worked as designed when the issue was detected, and automatically disconnected the battery storage facility from the electrical grid."

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