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☆ Jim Cramer's top 10 things to watch in the stock market Monday: Bank rescue, Salesforce truce, Nvidia boost
▼ + stars: | 2023-03-27 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

GIS gets from price target bumps on Wall Street. Pioneer Natural Resources (PXD) sees price target cut at Raymond James, which goes to $241 per share from $300. RH (RH), the company formerly known as Restoration Hardware, price target cut to $245 per share from $335 at Wedbush. Wingstop (WING) cut to underperform (sell) from hold at Jefferies, which kept its $160-per-share price target. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Suncor Energy names Exxon veteran Rich Kruger as CEO
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - Canada's Suncor Energy Inc (SU.TO) said on Tuesday former Exxon Mobil Corp executive Rich Kruger would take over as its chief executive from April 3, replacing interim boss Kris Smith, sending its shares up nearly 3% in afternoon trading. Kruger, a near 40-year veteran of Exxon (XOM.N), served as CEO of Imperial Oil Ltd (IMO.TO) for six years before retiring in 2019. "Investors are likely going to see this as a key reason to expect a complete positive change in the safety culture at SU," Eight Capital analysts said. Smith replaced Mark Little as CEO in July following a worker death, which was the fifth fatality at the company since 2019. The company named Smith as its finance chief in place of Alister Cowan, who plans to retire at the end of the year.

☆ Germany's Fresenius to simplify structure, flags potential profit fall
▼ + stars: | 2023-02-21 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

[1/2] Samples of products of Fresenius and Fresenius Medical Care are on display during the company's annual news conference at their head quarters in Bad Homburg Germany, February 20, 2019. "The new structure will greatly benefit both companies: Fresenius Medical Care needs an operational turnaround, to improve its performance and focus on its core business." "Fresenius needs to simplify its complex corporate structures and commit to its Operating Companies and to maximizing value from its investments," Sen said. FMC is expected to hold an extraordinary general meeting in July to let shareholders vote on the proposed change of the legal form, Fresenius said. Frankfurt-listed shares of Fresenius and FMC were up 1% and 2.2%, respectively.

☆ Morning Bid: Up, up and away
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +3 min

In Europe, money markets show that investors are already betting on a peak European Central Bank rate around 3.75% by late summer, up from levels around 3.4% earlier this month. Investors are unwinding earlier bets after a string of hawkish comments from policymakers, forcing European shares to retreat further from one-year highs. ECB officials have highlighted their fears about stubborn underlying inflation. Meanwhile, in a week when India hosts the year's first G20 finance and central bank chiefs meeting, from Feb. 22-25, tough global discussions over debt forgiveness for poor nations are going to get even trickier. Key developments that could influence markets on Monday:Economic data: Euro zone Feb consumer confidenceU.S. markets closedReporting by Anshuman Daga; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. Hedge Fund Elliott to offer financing for Manchester United takeover bid
▼ + stars: | 2023-02-18 | by ( Peter Hall | ) www.reuters.com time to read: +1 min

Feb 18 (Reuters) - U.S.-based hedge fund giant Elliott Investment Management is planning to offer financing for a bid to take over Manchester United Plc (MANU.N), sources close to the matter told Reuters. The fund has ruled itself out of a full takeover of the Premier League soccer club, the source added on Saturday. It is unclear at this stage which bid Elliott, who owned Serie A champions AC Milan until last year, will be involved in. Elliott and United both declined to comment when approached by Reuters. British billionaire Jim Ratcliffe, a life-long United fan, and his company INEOS lodged an offer for a "majority ownership" of the club on Saturday.

☆ Rise in Canadian shareholder activism faces test next month with new rules in place
▼ + stars: | 2023-02-12 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

The country has lagged the rising trend of activism seen globally, but that could be about to change, lawyers say. Some 53 Canadian companies faced activism campaigns in 2022, a 17.8% rise over the previous year, compared with a 10.6% rise in the U.S to 511, showed data from Insightia, a Diligent brand. Previously, shareholders could only vote 'for' a candidate or 'withhold' their vote, meaning a majority was not legally a necessity. While not enshrined in law, majority voting was often adopted by companies in their policy, prior to the change. And oil and mining companies could continue to be the sector that faces activism, say market participants.

☆ Germany's Fresenius may give up control of FMC dialysis business
▼ + stars: | 2023-02-09 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 9 (Reuters) - German healthcare group Fresenius SE (FREG.DE) said on Thursday it was potentially ready to cede control over Fresenius Medical Care (FMC) (FMEG.DE), after a fall in earnings at the world's largest dialysis company. Shares in FMC were down 3.4% at 1538 GMT, while Fresenius stock surged 4.3% after it said it was considering de-consolidating the subsidiary, meaning its sales would no longer be fully integrated into its financial reports. FMC, which has been hit hard by U.S. staff shortages and cost inflation this year, slashed its annual outlook twice last year, also pulling down Fresenius' forecasts. The Else Kroener-Fresenius-Stiftung, a charitable trust that controls Fresenius SE, "has taken note with approval of" the plans to deconsolidate FMC and to change its legal form. FMC Chief Executive Carla Kriwet, who was hired by Sen's predecessor, stepped down in December after just two months in the job, citing "strategic differences".

☆ Exclusive: French adtech firm Criteo in new bid to sell itself-sources
▼ + stars: | 2023-02-07 | by ( Milana Vinn | ) www.reuters.com time to read: +2 min

Investment bank Evercore Inc (EVR.N) is advising Criteo on the process, the sources added. Criteo declined to comment, while an Evercore spokesperson did not immediately respond to a request for comment. The sale process for Criteo will likely pique the interest of buyout firms that have shown strong interest in audience measurement and analytics companies. Criteo collects data through partnerships with companies, ad agencies and brands, and earns money by charging advertisers when consumers click on personalized ads. In response, Criteo has been investing in its fast-growing retail media business, which involves partnering directly with the websites of retailers.

☆ PayPal's rocky road ahead warrants more cost cuts, Wall Street says
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

The San Jose, California-based digital payments company said on Tuesday it would lay off 7% of its workforce, or around 2,000 employees, a move in line with analyst expectations and the firm's previous commitment to rein in costs. PayPal has been under pressure for most of last year, as surging inflation and fears of a recession limited digital payments and e-commerce spending. Some analysts suspect the latest job cuts were under pressure from Elliot, which took a stake in the company in August. PayPal still has potential to "meaningfully improve margins over time," Horn added, indicating the company has further room to cut costs. The company cut its annual revenue growth forecast when it reported its third-quarter results in November.

Nov 30 (Reuters) - Industrial conglomerate General Electric Co (GE.N) and defense contractor L3Harris Technologies Inc (LHX.N) are among those competing to acquire rocket maker Aerojet Rocketdyne Holdings Inc (AJRD.N), according to people familiar with the matter. Aircraft producer Textron Inc (TXT.N) and private equity firm Veritas Capital are also vying to acquire El Segundo, California-based Aerojet, which has a market value of about $4 billion, the sources said. Aerojet has been running a process to sell itself after its $4.4 billion sale to Lockheed Martin Corp (LMT.N) was thwarted by antitrust regulators in February, Reuters has previously reported. Spokespeople for Aerojet, General Electric, Textron and Veritas Capital did not respond to requests for comment. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N).

☆ Elliott raises stake in Pinterest; adds Clarivate, Cardinal Health to portfolio
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

Nov 14 (Reuters) - Hedge fund Elliott Investment Management raised its stake in social media platform Pinterest (PINS.N) while adding Clarivate Plc , Cardinal Health (CAH.N) and Triple Flag Precious Metals Corp (TFPM.TO) to its portfolio, a regulatory filing showed on Monday. The filings are one of the few ways that funds are required to disclose their long positions, but may not reflect current holdings. The filings are closely watched for possible investment trends and potential future performance. Elliott had disclosed a stake in Pinterest in August, citing "significant potential for growth". Rival investment firm Tiger Global Management also added to its stakes in several tech firms in the third quarter, including tech giant Microsoft Corp (MSFT.O), and Jack Dorsey's payments firm Block Inc (SQ.N).

Canada's oil sands hold the world's third-largest crude reserves and the long-life projects can produce for decades. Last week Suncor agreed to buy Teck Resources' (TECKb.TO) Fort Hills stake for about C$1 billion ($737 million) in cash as "part of our Base Plant mine replacement strategy". Other acquisition targets could include French major TotalEnergies' (TTEF.PA) stake in Fort Hills and its 50% share of the Surmont thermal oil sands project, Oberstoetter added. Last month TotalEnergies said it plans to spin off its Canadian oil sands assets into a separate company. The Fort Hills deal is the latest move by Calgary-based Suncor to focus on its core oil sands business.

☆ Fresenius CEO signals realignment, confirms call with Elliott - FAZ newspaper
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Oct 25 (Reuters) - Newly appointed Fresenius CEO Michael Sen said that the company's debt-financed growth strategy cannot continue, in an interview in Frankfurter Allgemeine Zeitung's Wednesday edition. But this model is no longer viable," Sen said, laying out his realignment of the firm following his appointment on Oct. 1. Regarding Elliott Investment Management's stake in the company announced last week, Sen said: "We have already been in contact with Elliott." Fresenius management will include the opinion of investors regarding the future of the company in its considerations, he said, adding that no banks had been mandated for the sale of its hospital operator Helios. Reporting by Emma-Victoria Farr, editing byOur Standards: The Thomson Reuters Trust Principles.

☆ EXCLUSIVE Rocket maker Aerojet solicits acquisition offers -sources
▼ + stars: | 2022-10-25 | by ( David Carnevali | ) www.reuters.com time to read: +2 min

Aerojet, which is providing propulsion engines for NASA's Artemis 1 moon rocket, is working with advisers on an auction process and asked for indications of acquisition interest earlier this month, the sources said. Aerojet develops and manufactures liquid and solid rocket propulsion and hypersonic engines for space, defense, civil and commercial applications. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N). Activist hedge fund Elliott Investment Management disclosed it had accumulated a 3.7% stake in Aerojet in August. Aerojet Chief Executive Eileen Drake said in September that "low to mid-single-digit" sales growth was most probable for the company this year.

☆ Philip Morris’ Swedish bet may take multiple tokes
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 20 (Reuters Breakingviews) - Philip Morris International (PM.N) may need to show more flexibility. PMI Chief Executive Jacek Olczak has strengthened his hand by sealing a $2.7 billion deal with Altria to buy the rights to sell IQOS heated tobacco products in the United States, giving him an alternative way to grow in smokeless tobacco products. Still, it may be hard to get the Swedish Match deal over the line, given PMI’s ambitious 90% acceptance rate. That’s probably why the shares are currently trading close to the offer price at 112 crowns. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Investor Elliott has taken stake in Germany's Fresenius -Bloomberg
▼ + stars: | 2022-10-19 | by ( Makiko Yamazaki | David Carnevali | ) www.reuters.com time to read: 1 min

FRANKFURT, Oct 19 (Reuters) - Elliott Investment Management has taken a stake in Fresenius SE (FREG.DE), seeking to potentially break up the diversified healthcare company, Bloomberg cited people familiar with the matter as saying. Fresenius and Elliott were not immediately available for comment. Shares in the company, which is controlled by charitable trust Else Kroener Fresenius-Stiftung, were up 9% at 1202 GMT. Fresenius controls the world's largest dialysis company Fresenius Medical Care (FMEG.DE). Register now for FREE unlimited access to Reuters.com RegisterReporting by Ludwig Burger, Patricia Weiss and Hans Seidenstuecker, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

Chicago-based Framtiden Partnerships, a Swedish Match shareholder for nearly two decades, told Reuters on Wednesday that it opposes Philip Morris' (PMI) proposed takeover of the Stockholm-based company. According to Euromonitor International, Swedish Match controls about half the world's market for snus - a Swedish-style snuff that is moist and smoke-free. Swedish Match has a fragmented ownership base, he said, making it difficult to get a clear overview of how many will accept the deal. 'THREE SHAREHOLDER CAMPS'John Hempton, co-founder of Sydney-based Bronte Capital, is another Swedish Match shareholder who hopes the deal will fall through. The largest shareholders of Swedish Match, which include Wellington Management, Capital Group, BlackRock and Vanguard, all declined to comment on the deal.

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