1. Articles from Ethel Jiang

    1-12 of 12
    1. General Electric's Dash for Cash is Stealing Value from Shareholders, JPMorgan Says

      General Electric's Dash for Cash is Stealing Value from Shareholders, JPMorgan Says
      • General Electric on Friday announced the planned merger between Wabtec and GE Transportation has been revised.
      • The revised terms are negative for GE shareholders, according to Christopher Glynn, an analyst at Oppenheimer.
      • GE's stock lost more than half of its value in 2018.
      • Under the leadership of new CEO Larry Culp, GE has sped up efforts to raise cash by selling assets in an effort to increase investor confidence...
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    2. Aphria is Urging Shareholders to Hold Off on Making Any Decisions About Green Growth Brands' Takeover Bid

      Aphria is Urging Shareholders to Hold Off on Making Any Decisions About Green Growth Brands' Takeover Bid
      • Aphria received an all-stock takeover offer from Green Growth Brands, a US-based marijuana company.
      • Green Growth provides Aphria shareholders with 1.5714 common shares of Green Growth for each Aphria share, valuing the marijuana producer at $2.06 billion.
      • Aphria on Wednesday urged its shareholders to take no action until its Board has made a formal recommendation to shareholders, saying the proposal undervalued the company...
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    3. PG&E Spikes After a Hedge Fund Challenges its 'Damaging, Avoidable, And Unnecessary Bankruptcy'

      PG&E Spikes After a Hedge Fund Challenges its 'Damaging, Avoidable, And Unnecessary Bankruptcy'
      • PG&E said Monday it intends to file bankruptcy petitions under Chapter 11, in order to protect the best interests of all stakeholders.
      • Hedge fund BlueMountain Capital Management, one of its biggest shareholders, challenged its plan to seek bankruptcy protection, saying it's "damaging, avoidable, and unnecessary."
      • PG&E has seen its value plunge by 85% after last November's deadly California wildfire...
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    4. Some of the Biggest Names in the Hedge-Fund Industry May Have Gotten Whacked by Betting on PG&E at Exactly the Wrong Time

      Some of the Biggest Names in the Hedge-Fund Industry May Have Gotten Whacked by Betting on PG&E at Exactly the Wrong Time
      • Pacific Gas and Electric Company, California's biggest utility provider, has seen its value plunge by 80% after last November's deadly California wildfire.
      • The utility on Monday said it intends to file bankruptcy petitions at the end of the month to reorganize under Chapter 11.
      • Eight hedge funds snapped up shares in the third quarter — before the wildfire broke out...
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    5. Sears is Getting Slammed After Report Says it is Set to Announce its Liquidation Plans

      Sears is Getting Slammed After Report Says it is Set to Announce its Liquidation Plans
      • Sears filed for Chapter 11 bankruptcy in October.
      • Chairman Eddie Lampert had put forward a $4.4 billion bid to save Sears by buying it out of bankruptcy through his hedge fund ESL Investments.
      • The iconic American retailer has rejected Lampert's bid and is set to announce its liquidation plans Tuesday morning, CNBC reported.
      • Lampert still has a chance to present details of his offer and make the case for renewing efforts to save the retailer, according to Reuters...
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    6. PG&E is Tanking After S&P Downgrades it to Junk

      PG&E is Tanking After S&P Downgrades it to Junk
      • PG&E's credit rating was cut to junk at S&P Global Ratings, sending shares down more than 10% early Tuesday.
      • The downgrade came as bad news has piled up for PG&E amid its potential liabilities from last year's California wildfires, the credit-rating agency said.
      • On Friday, the utility announced that its board of directors would review the company's management. Meanwhile, a report said PG&E was considering filing for bankruptcy protection...
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    7. Dell Votes in Favor of Going Public Again

      Dell Votes in Favor of Going Public Again
      • Dell announced Tuesday that it has agreed to buy back the publicly traded "tracking" shares of VMware, a listed company that is about 80% owned by Dell.
      • The company confirmed the purchase price of $120 per share of the tracking shares for a total of $23.9 billion.
      • After the deal is completed, Dell will go public again without having to go through the usual initial-public-offering process and will trade on the New York Stock Exchange starting on December 28...
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    8. Hedge-Fund Billionaire Dan Loeb Reportedly Discloses a Stake in American Express

      Hedge-Fund Billionaire Dan Loeb Reportedly Discloses a Stake in American Express
      • Hedge-fund billionaire Dan Loeb's Third Point Capital disclosed a stake in American Express, according to a report.
      • Loeb believes American Express will trade above $135 over the next 18 months — 25% above where shares were trading on Friday.
      • Years of lagging performance galvanized the American Express franchise and "forced necessary investments," Loeb said...
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    9. Tesla Surges After Judge Approves Elon Musk's Settlement with SEC

      Tesla Surges After Judge Approves Elon Musk's Settlement with SEC
      • Tesla rallied Tuesday morning after a judge approved CEO Elon Musk's settlement over a fraud charge.
      • The Securities and Exchange Commission sued Musk last month over allegations that he committed fraud when he said he had "funding secured" to take Tesla private.
      • All eyes are on now on the company's third-quarter earnings report later this month...
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      Mentions: SEC Tesla Wall Street
    10. Broadcom and CA Trim Their Losses After the Former Says There Was a 'Fraudulent Memo' Calling for a CIFUS Review of Their Merger

      Broadcom and CA Trim Their Losses After the Former Says There Was a 'Fraudulent Memo' Calling for a CIFUS Review of Their Merger
      • Broadcom and CA shares slid Wednesday after Senator Rand Paul (R-Ky.) called for a federal national security review of their merger.
      • Shares trimmed their losses after Broadcom said there was a "fraudulent memo" circulating around Congress that called for a CIFUS review of their merger.
      • Broadcom announced an $18.9 billion deal to acquire CA in July...
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    11. Netflix Names the CEO of Business Insider's Parent Company to its Board

      Netflix Names the CEO of Business Insider's Parent Company to its Board
      • Netflix appointed Mathias Döpfner to join its board of directors.
      • Döpfner is chairman and CEO of Axel Springer SE, a leading European digital-publishing house based in Berlin, Germany, and Business Insider's parent company.
      • Döpfner helped grow Axel Springer SE's digital revenues, which now account for 80% of the company’s operating income, from €117 million to €2.5 billion.

      Netflix appointed a leader in digital publishing to join its board of directors...

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    1-12 of 12
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    Analyst Begs Gap's Board to 'Change Name of Company to Old Navy' Netflix Names the CEO of Business Insider's Parent Company to its Board Broadcom and CA Trim Their Losses After the Former Says There Was a 'Fraudulent Memo' Calling for a CIFUS Review of Their Merger Tesla Surges After Judge Approves Elon Musk's Settlement with SEC Hedge-Fund Billionaire Dan Loeb Reportedly Discloses a Stake in American Express Dell Votes in Favor of Going Public Again Sears is Getting Slammed After Report Says it is Set to Announce its Liquidation Plans PG&E Spikes After a Hedge Fund Challenges its 'Damaging, Avoidable, And Unnecessary Bankruptcy' Aphria is Urging Shareholders to Hold Off on Making Any Decisions About Green Growth Brands' Takeover Bid General Electric's Dash for Cash is Stealing Value from Shareholders, JPMorgan Says Philip Asherman Joins Catamaran Solutions Board of Directors Delaware Court of Chancery Holds that a Stockholder’s Disagreement with a Board’s Business Judgment and Intent to Pursue a Proxy Contest is Not a “Proper Purpose” for a Section 220 Demand