Jeffrey Smith, CEO of activist hedge fund Starboard Value, wants Dollar Tree to lift its $1 price ceiling on products.
Smith wrote to Dollar Tree CEO Gary Philbin Monday to reveal that his fund had invested a 1.7% stake in the bargain retail company, while indicating that there should be more room to raise product prices at Dollar Tree stores.Smith feels that by rigidly restricting prices within $1, Dollar Tree could potentially be sacrificing product quality or size.
"Dollar Tree has a great customer base, and we believe its loyalty stems from the fantastic value customers find at Dollar Tree, not merely because everything in the store is the same price," Smith added in the note.
Starboard also wants Dollar Tree to consider selling Family Dollar, a chain of stores that it bought in 2015.
The Stamford, Connecticut-based biotechnology company is developing cancer treatments that target a tumor’s genetic markers regardless of where in the body they’re located.
Lilly is paying 68 percent above Loxo’s closing stock price Friday and above Loxo’s previous all-time high of $189.96, reached in July 2018.The news comes only a few days after Bristol-Myers Squibb Co. and Celgene Corp. announced a $74 billion cash-and-stock deal last week.
Plus, users will be able to transfer/view content like photos and videos from their iPhones and iPads on to the screens of Samsung smart TVs via Apple’s Airplay2.
The partnership between the two rival smartphone makers was announced on Sunday, and reveals yet another potential move by Apple to bulk up its services business. Allowing iTunes on Samsung TVs potentially lets Apple widen its reach among consumers.
Earlier instances of Apple tying up with competitors include Amazon's Echo devices starting to feature Apple Music, as announced in November.
For the second time in just four months, the $26 billion proposed merger between T-Mobile and Sprint has been put on hold after the Federal Communications Commission (FCC) suspended most of its operation owing to a funding lapse.
With the deal already getting the required approvals from CFIUS as well as cabinet agencies, FCC approval is the only major remaining hurdle for the successful closure of the deal.
Review of the proposed merger deal between the third and the fourth-largest U.S. wireless carriers was picked up by the FCC on the 3rd week of June, but then the review process was put on hold on September 11 after the companies submitted new documents.
Even after reporting record sales in spring and summer, the company’s year-over-year sales declined 21% to $1.8 billion in the first quarter of fiscal 2019, while gross margin slipped roughly 3% to 11.8%.Thor lost 65% of its value in CY 2018, whereas its competitor Winnebago Industries (WGO) lost ~55%.
Even still, the company enters the new calendar year with much hope to attract investors.
On January 3, Mr. Cooper Group Inc., announced the acquisition of certain non-core assets of IBM for $48 billion.Chief of these assets include the purchase of IBM’s Seterus mortgage servicing platform that was primarily designed to help a client manage a portfolio of distressed loans in times of financial crisis, especially during 2008.
The electric vehicle manufacturer Tesla has announced that some customers in left-hand drive European countries can now configure and buy its Model 3 car.
The U.S. firm announced the change via its Twitter handle: READ MORE...
After a sell-off cut its value by a third, Netflix represents one of the most compelling investments available in the internet space, according to Goldman Sachs. READ MORE...
On a year-over-year basis, Chile Retail Sales real index dropped -0.8% - the sharpest decline in four years, according to data from the national statistics agency.A Bloomberg survey’s median forecast for November sales in Chile was a +1.8% gain.
November’s decline also marks a reversal from October’s +7.5% increase in Chilean retail sales.
Windstream Holdings Inc. announced recently that it sold its EarthLink consumer internet business to private equity firm Trive Capital for $330 million in cash.Regarding the company’s decision to sell its EarthLink consumer internet segment, Tony Thomas - president and CEO of Windstream - announced, "This transaction enables us to divest a non-core segment and focus exclusively on our two largest business units.
The uptick came on the back of a number of potential factors.
The Organization of the Petroleum Exporting Countries cut crude output by 460,000 barrels per day in December (according to a Reuters survey revealed on Thursday), which could have been a factor in pushing crude prices up.What potentially bolstered the crude price increase was China's announcement to hold vice-ministerial trade talks with U.S. counterparts in Beijing on Jan. 7-8 – something that probably creates some hope, given that a large part of 2018 was laden with U.S.-China trade tensions.
Having collapsed to the lowest level since April 2017, the GBP/USD pair recovered swiftly and rallied around 250-pips intraday to finally end the day with modest gains.The early flash crash was on the back of safe haven-fueled interest in the US Dollar, which came after Apple lowered its revenue guidance due to slowing iPhone sales and weakness in China.
There are “lots of indications” that some managers discussed “the reputational risks” of Deutsche Bank’s involvement in a share-trading scheme that is the subject of Germany’s biggest post-war fraud investigation, according to a conclusion in one of five internal audits seen by Reuters.READ MORE...
The unemployment rate, however, spiked a bit to 3.9% for the month, compared to November’s record low 3.7%.
Average hourly earnings rose by +0.4% over last month – edging past expectation of +0.3%.On a year-over-year basis, wages increased by +3.2%, which is higher than estimates of +3%.
The figures seems to suggest that the U.S. labor market continues to show strength amidst potential headwinds like trade uncertainties alongwith concerns related to monetary tightening and stock market correction/volatility.
Payments & financial services company Square, Inc. has chosen Amrita Ahuja its new Chief Financial Officer (CFO).Ahuja has had also served as SVP of Investor Relations and VP of Finance and Operations among other roles during her eight-year long tenure at Activision Blizzard.
Ahuja will take over from Sarah Friar, who announced that she was stepping down from her position as Square CFO in October. CEO Jack Dorsey indicated in a press release that Square has found a new leader in Ahuja.
for 2018 “Black Panthers” grossed around $700 million, while "Avengers: Infinity War" and “Incredibles 2” raked in roughly $678 million and $608 million respectively in the U.S. (based on data from Box Office Mojo).Within that, Disney's "Avengers: Infinity War" and "Black Panther were the top two contributors.
In 2018, Disney announced one of its biggest acquisitions – that of the entertainment assets of 21st Century Fox for more than $71 billion.
In one of the biggest pharmaceutical deals in history, U.S. drugmaker Bristol-Myers Squibb announced last Thursday its plans to acquire Celgene in a cash and stock deal valuing the rival drugmaker at roughly $90 billion, including debt.
As the news of the deal hit the market, shares of Celgene jumped 28% in midmorning trading to ~$85 per share, while shares of Bristol-Myers Squibb tumbled 11% to trade at $47 per share.
Under the terms of the deal, Celgene shareholders will receive $50 in cash for each share held along with one Bristol-Myers Squibb share or $102.43 per share, a premium of 53.7% to Celgene's Wednesday close.
Both companies have faced investor wariness about their growth prospects in the recent past.But once the deal goes through, it is expected to create a company which would be a pharmaceutical leader in cancer and immunologic disease treatments, with huge growth prospects.
According to analysts, the deal is a big win for Celgene, which had just overc
According to J.P Morgan’s head of Asia Pacific oil and gas, Scott Darling, if OPEC members do not continue with their production cut for the entirety of 2019 -- promised at 1.2 million barrels off the oil market per day -- then Brent crude prices could find it extremely difficult to rise again.
In an early December meeting, OPEC members and non-OPEC allies had come to an agreement that 1.2 million barrels a day would be removed from the oil market for the first six months of the new year, starting January 2019.The goal of the move is to address the growing imbalance between global supply and demand.
Warren Buffett may just have lost $4 billion – as Apple shares took a hit following a downward revision in expected sales.
Holding about 252.5 million shares of Apple, Buffett's Berkshire Hathaway is the iPhone maker’s second-largest investor.
Last August, Buffett told CNBC that he was not too concerned about iPhone "sales in the next quarter or the next year", compared to the fact that there are "hundreds millions of people who practically live their lives" by the iPhone – a reason why he was so fond of the company.Buffett also felt that the iPhone was "enormously underpriced". Berkshire began investing in Apple in early 2016.
According to a letter from Apple CEO Tim Cook on Wednesday, Apple might experience lower sales from the holiday quarter than what was possibly expected.
The social networking company’s stock price declined -20% during the quarter, amidst a correction in the broad market.
In September 2017, Zuckerberg announced that he would offload 35 million to 75 million Facebook shares over the following 18 months as part of his pledge to give away almost all of his fortune during his lifetime.He has sold around 30.4 million shares worth $5.6 billion since then.
Facebook was mired in controversies in 2018, regarding issues like inadequate handling/protection of user data against a major incident of hacking and the Cambridge-Analytica scandal.