• GoldCore
    07/25/2014 - 09:41
    The EU and global drive toward bail-ins continues unabated. Bail-ins are coming to financial institutions and banks in the EU, UK, U.S. and much of the western world - with painful consequences for...

Activist Shareholder

George Washington's picture

What's REALLY Going On In Odessa, Ukraine





Whatever You Think of Putin, You Should Understand How Russia Thinks

 
Tyler Durden's picture

On The Edge Of War: The Latest Russian And Ukraine Troop Movements





It may be a long weekend.

 
Tyler Durden's picture

Frontrunning: May 1





  • Two-Thirds of Insurance Exchange Enrollees Paid Premiums (WSJ)
  • Panic: Criminal Charges Against Banks Risk Sparking Crisis (BBG)
  • Did the junk bubble pop: Junk Loans Pulled as Investors Say No After Fed Raises Concerns (BBG)
  • CME mulls price fluctuation limits for gold, silver futures (Reuters)
  • AT&T Has Approached DirecTV About Possible Acquisition (WSJ)
  • NBA sets wheels turning for Clippers sale; Oprah in wings (Reuters)
  • One way to fix prison overcrowding: Florida Jail Hit by Deadly Blast (WSJ)
  • New Boeing jets hold key to more than half of future sales (Reuters)
  • Sony slashes profit estimate by 70% (Guardian)
 
Tyler Durden's picture

Time For More Costs? Pro-Russian Forces Storm Luhansk Police Buildings - Live Feed





One of East Ukraine's largest cities, Luhansk, has seen its police headquarters over-run by pro-Russian activists (with machine guns and greande launchers evident):

*GUNSHOTS HEARD AS POLICE BUILDING STORMED IN LUHANSK: IFX
*PRO-RUSSIAN PROTESTERS STORM LUHANSK POLICE BUILDINGS: IFX

In the immediate aftermath, the police chief has resigned over the separatist demands but as France24 reports, Ukraine's president has slammed police 'inaction' and 'criminal treachery' as rebels stormed state buildings. The demonstrators chanted "Referendum Russia" and raised a Russian flag over the building after the takeover.

 
Tyler Durden's picture

Icahn And Ackman Have Kissed And Made Up





CNBC must be reeling this morning as probably the highest-rated rivalry among hedge-fund managers has ended. As The WSJ reports, the hatchet was buried on Thursday. Mr. Ackman spoke with Mr. Icahn's assistant on April 24 saying, "I am calling to forgive Carl," according to Mr. Ackman. Mr. Icahn, 78 years old, returned the call and told Mr. Ackman, 47, that "it is a blessing to forgive," Mr. Icahn said, "and I forgive you." The acrimonious activists thus closed the door on one of the ugliest spats in financial market history as forgiving being called "a crybaby" and forgetting being labelled "a dishonest man" has been trumped by. as Ackman notes, the "much greater possibility that we are on the same side than the opposite."

 
Tyler Durden's picture

Herbalife's Earnings, And Carl Icahn's Activist Strategy, Summarized In Two Charts





Carl Icahn's brilliant "activist" plan revealed in all its glory.

 
Tyler Durden's picture

As Its Domestic Cash Plunges By Record To Early 2010 Levels, Apple Prepares Massive $17 Billion Bond Offering





While Apple's earnings report last week left little to be desired, one of the more notable observations was that the company's cash hoard, relentlessly rising until now, had seen its first quarterly dip since Lehman, declining by $8 billion from $158.8 billion to $150.6 billion. Which was to be expected: since the technological company has not had much success with "growthy" innovation since the arrival of Tim Cook, it has been forced to become an activist investor's favorite piggybank, buying back and dividending record amounts of cash. In fact, perhaps the most notable feature of its earnings release was that AAPL would boost its buyback plan by 50% to $90 billion. One small problem: as everyone knows, when it comes to shareholder friendly actions, Apple can only rely on its domestic cash hoard. What this simply means is that after making the history books with the biggest ever, $17 billion bond offering 12 months ago, Apple is about to issue a whole lot more of debt.

 
Tyler Durden's picture

Frontrunning: April 24





  • Ukraine forces kill up to five rebels, Putin warns of consequences (Reuters)
  • Obama to Russia: More sanctions are 'teed up' (AP)
  • Vienna Banks Bemoan Russia Sanctions Testing Cold War Neutrality (BBG)
  • GE’s $57 Billion Cash Overseas Said to Fuel Alstom Deal (BBG)
  • GM posts lower first-quarter profit after recall costs (Reuters)
  • Apple Stock Split Removes Obstacle to Inclusion in Dow (BBG)
  • U.S. regulators to propose new net neutrality rules in May (Reuters)
 
Tyler Durden's picture

Frontrunning: April 23





  • Ukraine's leaders say have U.S. backing to take on 'aggressors' (Reuters)
  • Goldman Sachs Stands Firm as Banks Exit Commodity Trading (BBG)
  • Obama reassures Japan, other allies on China as Asia trip begins (Reuters)
  • China Challenges Obama’s Asia Pivot With Rapid Military Buildup (BBG)
  • Google’s Stake in $2 Billion Apple-Samsung Trial Revealed (BBG)
  • No bubble here: Numericable Set to Issue Record Junk Bond (WSJ)
  • 'Bridgegate' scandal threatens next World Trade Center tower (Reuters)
  • Supreme Court Conflicted on Legality of Aereo Online Video Service (WSJ)
  • Barclays May Cut 7,500 at Investment Bank, Bernstein Says (BBG)
 
Tyler Durden's picture

How Bill Ackman Scrambled To Acquire Over $3 Billion In Allergan Calls Knowing Valeant Would Submit A Bid





If you know your "partner" is about to submit a takeover bid for a company, wouldn't you buy every call option you can find ahead of the announcement? That is precisely what Ackman did.

 
Tyler Durden's picture

Frontrunning: April 22





  • Ukraine Accord Nears Collapse as Biden Meets Kiev Leaders (BBG)
  • Novartis reshapes business via deals with GSK and Lilly (Reuters)
  • Moscow Bankers See Fees Slide 67% as Ukraine Crisis Grows (BBG)
  • Why ECB's QE will be Ukraine's fault: Draghi Gauges Ukraine Effect as ECB Tackles Low Inflation (BBG)
  • As Phone Subsidies Fade, Apple Could Be Hurt (WSJ)
  • Amazon Sales Take a Hit in States With Online Tax (BBG)
  • Ford Speeds Up Succession Plan: Mark Fields, Auto Maker's No. 2, Seen Replacing Alan Mulally as CEO Ahead of Schedule (WSJ)
  • U.S. force in Afghanistan may be cut to less than 10,000 troops (Reuters)
  • IBM End to Buyback Splurge Pressures CEO to Boost Revenue (BBG)
 
Tyler Durden's picture

Ukraine "De-escalation" Voided As Pro-Russia Militia Refuse To Vacate Occupied Buildings





If yesterday we had questions about the half life of the effectiveness of the latest diplomatic de-escalation of Ukraine tensions 'achieved' in Geneva, following news that both Ukraine would continue its anti-terrorist operation and that fighting had broken out in various east Ukraine locations after the agreement, today any questions have been swept aside following news that the Ukraine "separatist" milita, who after all is the primary object of Ukraine "anti-terrorist activities", has announced that they will only leave the occupied east Ukraine buildings if the interim government in Kiev resigns. Denis Pushilin, a spokesman of the self-appointed Donetsk People's Republic, told reporters that the insurgents do not recognize the Ukrainian government as legitimate.

 
Tyler Durden's picture

Princeton Study Confirms 'US Is An Oligarchy'





"...policymaking is dominated by powerful business organizations and a small number of affluent Americans, then America’s claims to being a democratic society are seriously threatened...

...even when 80% of the population favored a particular public policy change, it was only instituted 43% of the time."

 
Tyler Durden's picture

The Great Stock Buyback Craze Is Finally Ending





As we reported last night, whether as a result of Snowden revelations and NSA blowback by BRIC nations, or simply because the global economy is contracting far faster than rigged and manipulated markets worldwide will admit, IBM's Q1 revenues not only missed consensus earnings, but dropped to their lowest level since 2009. And yet, IBM stock is just shy off its all time highs and earnings per share have been flat if not rising during this period, leading even such acclaimed investors who never invest in tech companies as Warren Buffett to give IBM the seal of approval. How is that possible? Simple: all that investment grade companies like IBM have done in the New Normal in order to preserve the illusion of growth, is to use cash from operations, or incremental zero-cost leverage, to fund stock buybacks. In essence a balance sheet for income statement tradeoff. However, that "great stock buyback gimmick" as we call it, is finally coming to an end.

 
Tyler Durden's picture

Q1 Earnings Season Summary: More Than Half Have Missed Revenues





As it turns out, in their euphoria to lower EPS estimates, the sellside lemmings forgot all about revenues.  Oops.  Because according to the Deutsche Bank Q1 earnings tracker, while two thirds may have beat earnings, a stunning 51%, or a majority of the reporting companies have missed Q1 revenue estimates.

 
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