Walt Disney’s Proxy Tug of War
Walt Disney shares are surging to 52-week highs due to a proxy war between activist investor Nelson Peltz and CEO Bob Iger. Peltz is fighting for two board seats, arguing the board is not truly engaged and needs to take accountability. He has released a 133-page white paper detailing his plan to turn around the company, including replacing the CEO. Trian Group has nominated two board members to help ensure a better future for the company.
Paramount in Exclusive Talks with Skydance for Potential Deal
Paramount is in talks with Skydance for a potential deal, moving towards exclusivity. Shari Redstone is getting closer to selling her media empire, with other investors still pursuing Paramount. Apollo Global Management has submitted an $11 billion offer for the movie studio.
Exxon Mobil Corporation Announces First Quarter Earnings for 2024 and Offers Interactive Financial Insights
Exxon Mobil Corporation’s Q1 earnings release offers interactive financial insights for investors, empowering them to make informed investment decisions. TipRanks provides comprehensive support and analysis for XOM stock, aiding investors in their decision-making process.
BlackBerry Surprises Investors with Profit in Latest Quarter
BlackBerry surprises investors with a profitable quarter driven by cybersecurity and internet-of-things sales growth. Despite a loss, the company’s adjusted earnings and revenue exceed expectations. With a strategic shift away from smartphones, BlackBerry anticipates future growth in its new focus areas.
Stock Market Sees Dow End 240 Points Lower as Bond Yields Climb
The stock market today saw the Dow ending 240 points lower as bond yields climbed. The S&P 500 traded near unchanged, and the Dow Jones Industrial Average edged further into negative territory after a closely watched survey of U.S. manufacturing activity unexpectedly returned to expansion territory. The Institute for Supply Management’s manufacturing index rose to an 18-month high of 50.3% in March from 47.8% in the prior month, surpassing economists’ predictions. Figures above 50% signal an expansion in activity. The strong data appeared to fuel a selloff in Treasurys, sending yields higher and softening stock indexes. March marked the first time in 17 months that the barometer of business conditions at American manufacturers turned positive, indicating a potential revival in the industrial sector. The DJIA (Dow Jones Global) closed at 39,180.02, showing a 0.02% increase, while the S&P 500 (S&P US) closed at 5221.14, with a 0.29% increase. The Nasdaq (NASDAQ) closed at 16,320.78, up by 0.49%.
Ex-Pharma Executive and Cousin Admit to Insider Trading of Kodak
Former Pharma Executive Andrew Stiles and his cousin Gray Stiles have pleaded guilty to insider trading in connection with a pandemic-related government loan to Eastman Kodak Co. The two individuals profited from confidential information about a US government loan received by Kodak, resulting in significant earnings. The loan aimed to assist Kodak in repurposing its manufacturing facilities to address the shortage of drug ingredients during the early months of the pandemic, including those required for Covid-19 medications.
US Fed should avoid climate change ‘mission creep’: Powell
Jerome Powell, head of the US central bank, warns that the Federal Reserve should avoid getting involved in politically-charged issues like climate change without Congressional approval in order to maintain public trust. Powell emphasized the importance of avoiding ‘mission creep’ and staying within the Fed’s mandate of setting monetary policy and banking regulation.
Doug Farrar’s favorite underrated prospects for the 2024 NFL Draft
2024 NFL Draft: Doug Farrar highlights underrated prospects for the upcoming draft. Spencer Rattler, QB for South Carolina, is one of the prospects deserving of more attention. Rattler’s performance under pressure and his running ability make him a standout player to watch.
Frito-Lay and Hasbro Join Forces for Spring Promotion
Frito-Lay and Hasbro have teamed up for a spring promotion aimed at bringing families and friends together for shared good times. The campaign includes TV spots, digital and social media content, and a sweepstakes to win a $1,000 game chest. The promotion emphasizes the importance of snacks in enhancing shared experiences and the value of familial connection, with specially marked packs in stores featuring a QR code that leads consumers to an interactive web game.
Vanguard Acquires 91-Acre Campus in Charlotte, North Carolina
Vanguard announces the acquisition of a 91-acre campus in Charlotte, North Carolina, equipped with state-of-the-art office space and amenities. The new facility is designed to enhance in-person collaboration and reinforce the company’s commitment to Charlotte as a hub for purpose-driven talent. Set to open in 2025, the campus will feature dedicated collaboration spaces, a conference center, full-service cafeteria, outdoor eating and walking areas, EV charging stations, and a fitness center.