Company That Was Perfect When Carl Icahn First Invested Now Even More So (Deal Breaker)
It may have started as a spiteful lark, one that proved spectacularly profitable but still based on one committed loather’s loathing of another, another who he believed had once wronged him, and whose quixotic if ultimately more-or-less correct (if somewhat overenthusiastic) analysis created an opportunity for vicious vengeance. Yes, the partnership between Carl Icahn and gassy diet shake purveyor Herbalife may have, initially, been nothing but the financially living embodiment of the axiom that the enemy of one’s enemy (in this case, crybaby Bill Ackman, before he found love and god in the form of an old man who he no longer has use for) is one’s friend.
Warren Buffett’s Berkshire Hathaway likely scored a $50 billion gain on Apple in 2020 (Business Insider)
Warren Buffett‘s Berkshire Hathaway likely scored a $50 billion gain on its Apple investment in 2020, lifting its total paper profits from the technology bet to north of $90 billion in less than five years. The famed investor’s company plowed about $35 billion into the iPhone maker between 2016 and 2018, securing a roughly 5.5% stake. Apple’s climbing stock price more than doubled the value of Berkshire’s position to about $72 billion at the start of 2020, then boosted it to $109 billion by the end of September, despite Buffett and his team selling close to 4% of their stake in the third quarter.
Union Seeks Removal of Alden Members From Tribune Board in Wake of Buyout Offer (The Wall Street Journal)
A labor union representing newsroom employees at seven of Tribune Publishing Co. ’s nine newspapers is demanding the removal from the board of three representatives of a hedge fund that has offered to buy the company and take it private. In a letter sent to Tribune’s chairman, Philip Franklin, the News Guild said that the hedge fund, Alden Global Capital LLC, had violated Securities and Exchange Commission rules by not informing shareholders of its buyout offer within the mandated 10 days after approaching the board.
Monday 1/5 Insider Buying Report: OCIP, BAS (Nasdaq.com)
At OCI Partners LP ( OCIP ), a filing with the SEC revealed that on Wednesday, Director Nassef Sawiris bought 87,465 shares of OCIP, for a cost of $15.71 each, for a total investment of $1.37M. So far Sawiris is in the green, up about 3.2% on their purchase based on today’s trading high of $16.22. OCI Partners LP is trading up about 2.7% on the day Monday. Before this latest buy, Sawiris bought OCIP at 4 other times during the past year, for a total investment of $3.44M at an average of $17.08 per share. And at Basic Energy Services ( BAS ), there was insider buying on Wednesday, by Director Thomas Moore Jr. who bought 10,000 shares for a cost of $7.13 each, for a total investment of $71,299.
Bandwidth Inc (BAND) Chairman & CEO David A. Morken Sold $13.7 million of Shares (Guru Focus)
Chairman & CEO of Bandwidth Inc, David A. Morken, sold 86,789 shares of BAND on 12/31/2020 at an average price of $157.97 a share. The total sale was $13.7 million. Bandwidth Inc provides a cloud-based communications platform for enterprises in the United States. It offers solutions including software application programming interfaces for voice and text functionality.
The Chairman of Gibson Energy (Other OTC: GBNXF) is Selling Shares (Analyst Ratings)
Today, the Chairman of Gibson Energy (GBNXF), James M Estey, sold shares of GBNXF for $205.5K. Following James M Estey’s last GBNXF Sell transaction on March 10, 2020, the stock climbed by 3.7%.
