Tag Archives: ATT

Financial Daily Dose 3.2.2020 | Top Story: Activist Elliott Mgmt Amasses Stake in Twitter and Takes Aim at CEO Jack Dorsey

BY: Michael D. Reif | March 2, 2020

Paul Singer and the Elliott Mgmt crew have a new target in their sights: Twitter’s founder and CEO, Jack Dorsey. Singer’s Elliott fund has amassed a “significant stake” in the company—perhaps as much as a billion—and is looking to throw its weight around, perhaps even starting at the top – NYTimes and Bloomberg and WSJ … Continue reading

Financial Daily Dose 2.5.2020 | Top Story: Amazon Joins Trillion-Dollar Market Cap Club

BY: Michael D. Reif | February 5, 2020

Amazon closed out the trading day yesterday as an official member of the $1 trillion club for the first time. Because Jeff really needed a win, folks. The company joins Microsoft, Alphabet, and Apple in that rarified “four-comma club” – Bloomberg and MarketWatch NYSE owner Intercontinental Exchange has submitted a takeover offer for eBay Inc. … Continue reading

Financial Daily Dose 11.06.2019 | Top Story: Walgreens Boots Working With PE Firms to Go Private

BY: Michael D. Reif | November 6, 2019

Bloomberg is reporting that Walgreens Boots is weighing a potential deal “to take the company private in what could become the largest leveraged buyout in history.” PE firms like KKR are apparently in the mix to assist in the funding – Bloomberg and MarketWatch Meanwhile, Xerox is mulling over a “cash-stock offer for the $27 … Continue reading

Financial Daily Dose 10.29.2019 | Top Story: AT&T Reaches Accord with Elliott Management to End Activist Challenge

BY: Michael D. Reif | October 29, 2019

AT&T announced yesterday that it’s resolved an ongoing battle with activist Paul Singer and his Elliott Management by agreeing to keep CEO Randall Stephenson on the job through “at least 2020,” with the chair and CEO roles to be split upon his departure. AT&T also revealed that it will shed up to $10 billion of … Continue reading

Financial Daily Dose 9.19.2019 | Top Story: Fed Cuts Rates Another Quarter percent

BY: Michael D. Reif | September 19, 2019

As pretty much expected, the Federal Reserve cut interest rates a quarter point again yesterday, its second cut since late July. Fed Chair Powell also indicated in remarks after the FOMC broke that a “‘more extensive’ series of rate cuts would be appropriate,” though, for now, “a growing number of Fed officials expect just one … Continue reading

Financial Daily Dose 9.18.2019 | Top Story: Fed Carries Out Rare Market Operation to Steady Rates

BY: Michael D. Reif | September 18, 2019

The Federal Reserve took the rare step yesterday of stepping “into financial markets . . . to keep interest rates from rising above its target, the first time the central bank has had to carry out this type of ‘market operation’ since the global financial crisis.” The NY Fed carried out the maneuver—though not without … Continue reading

Financial Daily Dose 9.10.2019 | Top Story: Activist Investor Singer Discloses Stake in AT&T and Pushes for Change

BY: Michael D. Reif | September 10, 2019

Paul Singer’s Elliott Management hedge fund revealed a $3.2 billion stake in AT&T and, along with it, a healthy-skepticism of the company’s 2018 purchase of Time Warner and general calls to divest as part of a 24-page letter to the company outlining changes needed to help drive up its share price – NYTimes and WSJ … Continue reading

Financial Daily Dose 9.4.2019 | Top Story: UK Parliament Rebels to Defy Prime Minister on Brexit

BY: Michael D. Reif | September 4, 2019

Aaaand, we’re back at it.  Hope all enjoyed a good holiday weekend. One can prorogate all one wants, but raise the ire of British MPs, and a price will be paid, my friends. So goes the story for PM Boris Johnson, against whom British lawmakers “rose up” on Monday to “prevent him from taking the … Continue reading

Financial Daily Dose 8.20.2019 | Top Story: Top Execs Signal Shift in Corporate Priorities Beyond Just Shareholder Gain

BY: Michael D. Reif | August 20, 2019

A survey of the country’s most powerful CEOs by the Business Roundtable shows an interesting shift in how they view their top priority—no longer does advancing the interests of shareholders take the top spot. Instead, the leaders identified investing in employees, delivering value to customers, and dealing “fairly and ethically with their suppliers” as primary … Continue reading

Financial Daily Dose 6.14.2019 | Top Story: Oil prices shoot up after attacks on tankers

BY: Michael D. Reif | June 14, 2019

In case you haven’t had your eye on matters of global intrigue of late, figured we’d get you a bit caught up so that you know why your gas prices are heading north in the next couple of weeks – MarketWatch and NYTimes Facebook has recruited a stable of major backers—including Visa, Mastercard, PayPal, and … Continue reading