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☆ SAP ends pointless M&A roundtrip with Qualtrics
▼ + stars: | 2023-03-07 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

For SAP Chief Executive Christian Klein, an exit would cap a relatively pointless M&A roundtrip. In theory, SAP could have supercharged the groups’ combined revenue by offering its software to Qualtrics’ customers and vice versa. Silver Lake, a specialist in tech buyouts, is well-placed to keep that growing. One potential hiccup is that Qualtrics’ fairly paltry EBITDA limits how much debt Silver Lake can use. SAP paid $8 billion in cash for Qualtrics in 2018, and subsequently offloaded a minority stake through an initial public offering in 2021.

☆ SiriusXM cuts 8% of its workforce as part of a broader reorganization
▼ + stars: | 2023-03-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

"We are entering into a new phase for our Company," CEO Jennifer Witz said in an email to employees on Monday. In November, the CEO had told the company that as part of their 2023 plans there would be a review of the company. "However, today's decision to reduce our workforce was required in order for us to maintain a sustainably profitable company," Witz said. After a review of our business, we have made the decision to reduce the size of our workforce by 475 roles, or 8%. However, today's decision to reduce our workforce was required in order for us to maintain a sustainably profitable company.

☆ Qualtrics gets $12.4 bln buyout offer from Silver Lake, Canada's CPPIB
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

March 6 (Reuters) - Software maker Qualtrics International Inc (XM.O) said on Monday it has received a $12.4 billion go-private offer from private equity firm Silver Lake Management and Canada Pension Plan Investment Board (CPPIB). The offer values Qualtrics at $18.15 per share, a premium of nearly 6% to the stock's last closing price. They have gained 8.8% since the start of February when Silver Lake first expressed its interest in Qualtrics. Qualtrics and Silver Lake have entered into an exclusivity agreement for the deal talks, which ends on March 15. Silver Lake already holds a near 4.2% stake in Qualtrics.

☆ Ron DeSantis admits getting married to Casey DeSantis at Disney World ended up being 'kind of ironic'
▼ + stars: | 2023-02-25 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +5 min

Ron and Casey DeSantis got married at Walt Disney World in 2009, Insider first reported. In the interview, Casey DeSantis acknowledged that the revelation, which came ahead of Election Day, "created a lot of news." The comments confirm Insider's reporting, after interviewing a wedding guest, that Casey DeSantis "wanted something all-inclusive and put together." Casey DeSantis said in the SiriusXM Patriots interview that she didn't know DeSantis would wind up going into politics. "We went out and we had a beer," at family sports restaurant Beef o' Brady's, Casey DeSantis said in the forthcoming interview.

☆ Buyout barons reach deep into their bags of tricks
▼ + stars: | 2023-02-15 | by ( Jonathan Guilford | ) www.reuters.com time to read: +7 min

NEW YORK, Feb 15 (Reuters Breakingviews) - Debt necessity is proving to be the mother of private equity invention. With the cheap borrowing that fueled record-breaking years of leveraged buyouts gone, firms are digging deeper into their bags of tricks. Private equity firm Silver Lake, which bought a stake alongside the IPO, said it might take control. Besides putting private equity firms into weaker negotiating positions, the competing incentives also threaten conflicts of interest with limited partners. ...THERE’S A WAYIf the U.S. Federal Reserve avoids engineering a recession, private equity should be able to revert to its tried-and-true formula soon enough.

☆ John Malone prepares for a victory lap
▼ + stars: | 2023-02-01 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

Now the cable cowboy’s Liberty Media (FWONA.O) empire is trotting out its trademark financial razzle-dazzle to try and wring additional value out of its assets. Malone, Liberty Media’s chairman, is as renowned for his dizzying array of specialized equity issues, spinoffs and splits as he is for the telecom and entertainment companies that have been subjected to the intricate machinations. It excludes broadcaster Discovery, spun off from Liberty Media in 2005, and international broadband provider Liberty Global (LBTYA.O), hived off a year earlier. A more logical starting point would be 2001, when Malone carved Liberty Media out of telecom giant AT&T (T.N). Likewise, Liberty Media’s accompanying shakeup of its tracking stocks stands to further spotlight the value of Formula One.

☆ Cramer's lightning round: CRISPR Therapeutics will work perfectly in this market
▼ + stars: | 2023-01-31 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Qualtrics International Inc : "I really like XM as a long-term growth play. ... Let these guys do their work and then it's a buy." Loading chart...Clearfield Inc : "There's an analyst that cut numbers and the stock fell apart. That was ridiculous." Loading chart...CRISPR Therapeutics AG : "That's one of those crazy science stocks that in this market will work perfectly."

☆ Jobs report to give clues about where economy is headed
▼ + stars: | 2023-01-29 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

Investors will get another clue when the January jobs report is released on Friday. Economists predict that 185,000 jobs were added last month, a slowdown from the gain of 223,000 jobs in December and 263,000 in November. A further deceleration in the labor market would likely please the Fed, as it would show that last year’s rate hikes are successfully taking some air out of the economy. Along those lines, average hourly earnings, a measure of wages that is also part of the monthly jobs report, are expected to increase 4.3% year-over year. So far, tech earnings season is not off to an inspiring start, with Microsoft (MSFT), Intel (INTC) and IBM (IBM) all reporting weak results.

In Germany, where SAP is headquartered, the company will cut slightly more than 200 jobs. SAP has also started the process to sell its stake in Qualtrics (XM.O). REUTERS/Arnd Wiegmann/File Photo 1 2Currently, survey-software seller Qualtrics has a market value of $7 billion and SAP has a 71% stake. SAP forecast core operating profit of 8.8-8.9 billion euros at constant currencies for this year. It also expects cloud revenue at constant currencies for 2023 to rise to 15.3-15.7 billion euros, from 12.56 billion euros last year.

☆ Biden's classified records bumbling is a gift for Trump, and some high-profile figures say it closes the door on an indictment for the former president
▼ + stars: | 2023-01-12 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

Biden aides have discovered two batches of classified documents from when he was vice president. "When is the FBI going to raid the many homes of Joe Biden, perhaps even the White House? Over in the US House Republicans have already launched an investigation. Trump is the only person to have announced a 2024 campaign for the White House, but his campaign has been off to a slow start. Some commentators even predicted that the perception of a double standard around the Biden documents investigation would derail a potential Trump indictment.

☆ German premium car brands handled supply chain woes better than VW
▼ + stars: | 2023-01-10 | by ( Victoria Waldersee | ) www.reuters.com time to read: +3 min

[1/4] The new hybrid-electric BMW XM is displayed at the BMW manufacturing plant in Greer, South Carolina, U.S., October 19, 2022. Though the fourth quarter provided universal relief for the carmakers, China's extensive lockdowns early in the year were particularly hard on sales volumes. Audi's deliveries fell 3.9% to 1.61 million, with Europe the only region to register marginal growth after an 18.7% jump in German sales. That compared with only a 1% drop in Mercedes-Benz total sales and its 143% leap in deliveries of electric and hybrid vehicles. The Volkswagen brand fared worst year on year, with a 6.8% fall in sales attributed to supply chain issues affecting all model types.

☆ Vince McMahon is back at WWE to ensure a smooth sale process. Here's who might want to buy it
▼ + stars: | 2023-01-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +8 min

WWE has hired JPMorgan to help the company advise on a potential sale, according to people familiar with the matter. But it remains unclear what type of role, if any, McMahon would want at WWE if he sold the company. WWE has a market capitalization of more than $6 billion after rising nearly 17% percent on Friday, buoyed by heightened sale speculation. McMahon's company already has an exclusive streaming deal with Comcast's streaming service, Peacock, and a cable TV deal with NBCUniversal's USA Network. Fox sold off most of its entertainment assets in its $71 billion sale to Disney in 2019, but WWE fits with the smaller company's sports and live events focus.

Amex Platinum; InsiderThe Platinum Card® from American Express offers a ton of value from its welcome bonus and benefits. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Choose an airline for the Amex Platinum incidental fee creditOne of the biggest perks of the Platinum Card is a yearly airline incidental fee credit. Add your Amex Platinum card to your Uber accountThe Platinum Card offers cardholders up to $200 in Uber Cash credits** each calendar year. Bottom lineThe Platinum Card® from American Express comes with potentially thousands of dollars in statement credits and benefits each year.

☆ Liberty Media to Split Off MLB’s Atlanta Braves
▼ + stars: | 2022-11-17 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Austin Riley of the Atlanta Braves made a catch against the Philadelphia Phillies last month in Atlanta. Media and entertainment company Liberty Media Corp. said it would split off the Atlanta Braves Major League Baseball team and its associated real-estate development project into a separate, publicly traded company. Liberty Media, which operates and owns interests in businesses including Sirius XM Holdings Inc. and Formula One Group, said it would redeem its existing Liberty Braves common stock in exchange for shares of a newly formed company to be called Atlanta Braves Holdings Inc.

WILMINGTON, Del, Nov 11 (Reuters) - Elon Musk has taken on Detroit's automakers, short-sellers and securities regulators. Next week, the Tesla (TSLA.O) chief executive is set to square off in court against an unlikely foe - a thrash metal drummer who hopes to strip Musk of his $56 billion pay. Tornetta sued Musk and the Tesla board on behalf of the company in what is known as a shareholder derivative lawsuit. The pay package was widely criticized and California's teachers retirement system known as CalSTRS was among the investors who voted against it. The disputed pay package allows Musk to buy 1% of Tesla's stock at a deep discount each time escalating performance and financial targets are met; otherwise Musk gets nothing.

The publisher of Vogue magazine has sued rappers Drake and 21 Savage for promoting their new album using a fake Vogue cover and the magazine’s name without authorization, according to a lawsuit filed on Monday. And none of it has been authorized by Condé Nast,” the publisher alleges in its lawsuit. “Vogue magazine and its Editor-in-Chief Anna Wintour have had no involvement in Her Loss or its promotion, and have not endorsed it in any way.”A representative for Drake, whose real name is Aubrey Graham, declined comment. Their “deceptive campaign” has caused unmistakable confusion over the veracity of the magazine cover and “underscores the tremendous value that a cover feature in Vogue magazine carries,” the lawsuit stated. The distribution of a fake Vogue cover is among several spoofs the rappers rolled out in support of their album release.

☆ Howard Stern warns of 'another Civil War' ahead of Tuesday's midterm elections as he bashes Georgia GOP senate hopeful Herschel Walker
▼ + stars: | 2022-11-08 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +2 min

Howard Stern warned of "another Civil War" ahead of Tuesday's midterm elections. The radio icon made the comments as he bashed Georgia Republican US Senate hopeful Herschel Walker. "Some of these candidates that people are actually -- fucking Herschel Walker. Would you really vote for this fucking — I don't know what the fuck he is," Stern said of Walker. Walker, who has been backed by former President Donald Trump, is seeking to unseat Democratic rival Sen. Raphael Warnock in the tight Georgia Senate race in the midterm elections.

It's easy to listen to radio on your iPhone by downloading apps like iHeart Radio or TuneIn, as well as specific apps for radio stations like NPR One or Sirius XM. You can also listen to Beats 1, a free radio station on Apple Music, or radio shows broadcasted as podcasts on your iPhone. There are a lot of apps you can use to stream radio stations to your iPhone – or stream online services that, for all intents and purposes, sound like traditional radio stations. The iHeart Radio app is a popular way to listen to radio stations from around the country on your iPhone. Dave Johnson/Business InsiderThe iHeart Radio app can also use your location to find local radio programming for you.

☆ Companies Seek Guidance on New U.S. Minimum Tax as Launch Date Nears
▼ + stars: | 2022-10-26 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +7 min

Analyzing past securities filings, researchers from the University of North Carolina’s Tax Center found that fewer than 80 publicly traded U.S. companies would have paid any corporate minimum tax in 2021 had the tax been in effect. Businesses, including media company Liberty Media Corp., in recent weeks have pressed for additional information from the Treasury Department and the Internal Revenue Service on the implications of the tax. “It’s casting a very wide net,” David Rievman, a partner at law firm Skadden, Arps, Slate, Meagher & Flom LLP, said of the minimum tax. Among the concerns from businesses is that reorganizations could cause a company to become subject to minimum tax, or increase their tax liability. Without the deduction, the company would pay another level of corporate tax on that dividend.

☆ Stocks making the biggest moves premarket: Coca-Cola, General Motors, JetBlue and others
▼ + stars: | 2022-10-25 | by ( Peter Schacknow | ) www.cnbc.com time to read: +3 min

General Motors (GM) – GM shares rallied 4.4% in premarket trading after the automaker reported a better-than-expected third-quarter profit, helped by rebounding sales. JetBlue (JBLU) – JetBlue reported a quarterly profit as elevated travel demand helped to make up for rising costs. UBS (UBS) – UBS jumped 5.1% in the premarket after the Swiss bank posted better-than-expected quarterly results, helped by a jump in customer cash inflows to its wealth management business. SAP (SAP) – SAP rose 3% in premarket action after the German business software company reported upbeat quarterly results, helped by strong growth in its cloud business. Qualtrics (XM) – Qualtrics surged 9.6% in the premarket after the maker of customer feedback software reported better-than-expected quarterly results and lifted its full-year forecast.

☆ Can liberals win tough Senate races? Fetterman and Barnes hope to prove it
▼ + stars: | 2022-10-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +9 min

WASHINGTON — At stake in this year’s key Senate races is not just the balance of power between the parties, but within them. Now this year's Senate races represent one of the toughest electoral challenges yet for the modern progressive movement. These groups will back progressives in open Senate races, but have yet to recruit someone to run against an incumbent Democrat. But both Fetterman and Barnes then went on to be elected lieutenant governor, statewide victories that helped them convince party insiders they could win U.S. Senate races. John Fetterman, the Democratic Senate nominee in Pennsylvania, greets supporters at Nether Providence Elementary School, in Wallingford on Oct. 15.

☆ Earnings are off to a surprisingly decent start. Next week is the big test for tech
▼ + stars: | 2022-10-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

Stocks rallied this week as earnings season ramped up and is so far off to a better-than-expected start. With 20% of the S & P 500 having reported financials so far, sales results have thus far been 1.4% above expectations while earnings results are 5.4% above expectations, in aggregate. That inverse correlation between bond yields and stocks was powerful enough to trump positive earnings reports. Looking back On the earnings front, we got results from Johnson & Johnson (JNJ), Procter & Gamble (PG), and Danaher (DHR). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ BMW plans to invest $1.7 billion in U.S. to produce electric vehicles
▼ + stars: | 2022-10-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

BMW Group plans to invest $1.7 billion in its U.S. operations to build electric vehicles and batteries, the company announced Wednesday. The German automaker expects to produce at least six fully electric models in the U.S. by 2030. The Spartanburg facility, where the investment announcement took place, currently produces BMW "X" SUVs and lithium-ion battery modules for its two plug-in hybrid electric vehicles. "Going forward, it will also be a major driver for our electrification strategy, and we will produce at least six fully electric BMW X models here by 2030," BMW Chair Oliver Zipse said in a release. In April, the company announced plans to spend $2 billion to build a second U.S. plant in Kentucky.

☆ Cramer's lightning round: ZIM Integrated Shipping Services is not a buy
▼ + stars: | 2022-10-07 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Sirius XM Holdings Inc : "I am neutral to this stock after being a big supporter for a very long time." Desktop Metal Inc : "The company's losing money, and I'm not recommending any companies that lose money." Loading chart...ZIM Integrated Shipping Services Ltd : "Unsustainable yield. Unsustainable numbers. Loading chart...Bandwidth Inc : "I will not recommend companies that are losing money."

☆ The era of the Big Tech moonshot is over
▼ + stars: | 2022-09-29 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Each of these ideas is a "moonshot," or a radical, potentially world-changing project that Big Tech companies have worked on in recent years. Is the era of Big Tech moonshots over? For years, companies like Amazon, Google, and Facebook dumped money and energy into radical, potentially world-changing projects. But recently, Big Tech firms have been scaling back their ambitions — and have instead turned to a Wall Street-appeasing pragmatism. It comes after Amazon workers of all types have been pushing for higher pay for years.

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