Ackman Bets China Coffee Drinkers Will Be Next Fast-Food Win (Bloomberg)
Three years ago, Bill Ackman was shorting China’s currency. Now he’s going long on the country’s coffee drinkers. Revealing a stake of about 1.1 percent in Starbucks Corp. on Tuesday, Ackman said he thinks China is the U.S. coffee chain’s “single-largest unit growth opportunity,’’ which could help the company’s underperforming shares double in the next three years. “We expect that China will grow nearly twice as fast as Starbucks’ overall earnings and represent an increasingly larger percentage of the company’s earnings,” Ackman said in a presentation at a conference in New York Tuesday.
Japan’s Alps Electric Shares Rise After Elliott Boosts Stake (Reuters)
TOKYO, Oct 10 (Reuters) – Shares in Alps Electric Co rose as much as 2.8 percent on Wednesday after a regulatory filing a day earlier showed U.S. hedge fund Elliott Management had boosted its stake in the company to 9.22 percent from 6.26 percent. Elliott, a $35 billion multi-strategy fund, is known for buying stakes in companies that are in the middle of an acquisition or takeover and forcing better deals for shareholders. Alps Electric, an electric component maker, is trying to buy smaller affiliate Alpine Electronics Inc, a car navigation maker that is trying to fend off competition in a stalled industry.
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From Largest US Retailer to Possible Bankruptcy, Sears Lines Up Emergency Financing for Potential Filing (CNBC)
Sears Holdings has contacted banks in recent days to arrange the financing necessary to file for bankruptcy, people familiar with the situation told CNBC. A bankruptcy filing would cap years of efforts by CEO Eddie Lampert to keep the company afloat by steadily selling off assets. Earlier this year, Lampert proposed a restructuring through his hedge fund ESL Investments after flagging that Sears had an impeding debt payment it may not reach.
Elite Club Gets New Members: Connecticut Adds Two More Billionaires To Forbes 400 (Hartford Courant)
Here are Connecticut’s richest billionaires, according to Forbes: 1. Ray Dalio – $18.1 Billion: Dalio remains atop the list of Connecticut billionaires as founder of the world’s largest hedge fund, Bridgewater Associates. He ranks 25th on Forbes’ list. 2. Steve Cohen – $13 Billion: Cohen, the former head of the controversial SAC Capital, now runs Point72 Asset Management, according to Forbes. He ranks 36th overall.
Insider Buying: Marchex, Inc. (MCHX) Major Shareholder Acquires 243,600 Shares of Stock (FairFieldCurrent.com)
Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc bought 243,600 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were purchased at an average cost of $2.75 per share, with a total value of $669,900.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Insider Buying: Bausch Health Companies Inc (BHC) Director Purchases 125,000 Shares of Stock (MareaInformativa.com)
Bausch Health Companies Inc (NYSE:BHC) Director Schutter Richard U. De purchased 125,000 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was acquired at an average price of $23.96 per share, with a total value of $2,995,000.00. The purchase was disclosed in a document filed with the SEC.
Insider Buying: Barings BDC Inc (BBDC) Insider Purchases 61,900 Shares of Stock (BaseballDailyDigest.com)
Barings BDC Inc (NASDAQ:BBDC) insider Barings LLC bought 61,900 shares of the stock in a transaction that occurred on Monday, October 8th. The stock was acquired at an average price of $10.17 per share, for a total transaction of $629,523.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Insider Buying: ANGI Homeservices Inc (ANGI) Major Shareholder Buys 89,000 Shares of Stock (FairFieldCurrent.com)
ANGI Homeservices Inc (NASDAQ:ANGI) major shareholder Luxor Capital Group, LP bought 89,000 shares of the stock in a transaction on Friday, September 14th. The stock was purchased at an average cost of $23.40 per share, with a total value of $2,082,600.00. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Insider Selling: Everi Holdings Inc (NYSE:EVRI) EVP Sells 66,251 Shares of Stock (XNewsPress.com)
Everi Holdings Inc (NYSE:EVRI) EVP Edward Adam Peters sold 66,251 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $9.06, for a total transaction of $600,234.06. Following the completion of the sale, the executive vice president now directly owns 60,388 shares in the company, valued at $547,115.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
