Dan Loeb’s Hedge Fund Trims Number of Nominees to Campbell Soup Board (CNBC)
Daniel Loeb‘s hedge fund, Third Point, has trimmed the number of nominees it is making to the Campbell Soup board to five, sources tell CNBC. Loeb has been locked in a battle for control of the board and had been trying to replace all 12 of the directors. Shareholders are scheduled to vote on the board at their Nov. 29 annual meeting. Third Point’s latest nominees are Sarah Hofstetter, president of Comscore, Bozoma Saint John, chief marketing officer of Endeavor Co., Kurt Schmidt, a former director and CEO of Blue Buffalo, William Toler, former CEO of Hostess Brand and Third Point executive Munib Islam, the sources told CNBC.
Did Billionaire Tom Steyer’s $123 Million Help Democrats In The Midterms? (Forbes)
Ever since Donald Trump entered the White House, California billionaire Tom Steyer has been at the forefront of the resistance. From buying “Need To Impeach” billboards in Times Square to strategically mobilizing get-out-the-vote efforts, Steyer has poured $123 million into politics in the last year. One of his goals was to ensure that the widely anticipated “Blue Wave”—in which Democrats would flip Congress—would happen.
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Billionaire Ray Dalio Says “Capitalism Is Not Working” for Most People (Barron’s)
Billionaire hedge fund founder Ray Dalio may not be the first person you’d think of as a crusader against capitalism. But at the Summit conference in Los Angeles this week, he questioned the current U.S. economic system. “Capitalism is basically not working for the majority of people,” he said. Dalio has a net worth estimated at $18 billion, according to Forbes, largely gained from building and running Bridgewater Associates, the largest and—by some metrics—most successful hedge fund in the world. His critique is all the more noteworthy, coming from one of the system’s biggest winners.
Elliott, Vivendi Need to End Their Italian Feud (The Wall Street Journal)
Hedge fund Elliott Management’s big bet on Telecom Italia is misfiring badly, but its increasingly bitter rival for control of the Italian telecommunications company is losing even more. It is hard to see progress at Telecom Italia before the two big shareholders stop squabbling. Media conglomerate Vivendi, Telecom Italia’s biggest shareholder, has been battling Elliott ever since the hedge fund disclosed a stake in March. Telecom Italia’s shares have become collateral damage.
Portfolio Managers are Leaving Citadel; One Only Stayed a Month (efinancialcareers.com)
People seem to be dribbling out of the London office of Citadel Europe LLP – the European outpost of Ken Griffin‘s $30bn hedge fund. One quit after less than a month. Antonio Fortes was at Citadel from the 14th of July to the 7th of August according to the UK’s Financial Conduct Authority register. It’s not clear why he left so soon, but Fortes – who previously spent three years at hedge fund Millennium Capital Partners, has now joined Exoduspoint, the new fund led by former Millennium Management star trader Michael Gelband.
Insider Buying: AstraZeneca plc (AZN) Major Shareholder Buys 600,000 Shares of Stock (FairFieldCurrent.com)
AstraZeneca plc (NYSE:AZN) major shareholder Plc Astrazeneca acquired 600,000 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The shares were acquired at an average price of $5.00 per share, with a total value of $3,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Insider Buying: Alteryx Inc (AYX) Major Shareholder Acquires 90,000 Shares of Stock (PressOracle.com)
Alteryx Inc (NYSE:AYX) major shareholder Abdiel Capital Management, Llc purchased 90,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were purchased at an average cost of $47.40 per share, with a total value of $4,266,000.00. The transaction was disclosed in a document filed with the SEC.
Insider Buying: Spark Energy Inc (SPKE) Director Purchases 97,380 Shares of Stock (MareaInformativa.com)
Spark Energy Inc (NASDAQ:SPKE) Director W Keith Maxwell III purchased 97,380 shares of Spark Energy stock in a transaction dated Wednesday, November 7th. The stock was acquired at an average price of $8.89 per share, for a total transaction of $865,708.20. Following the completion of the transaction, the director now owns 1,225,831 shares in the company, valued at approximately $10,897,637.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Insider Buying: RumbleON, Inc. (RMBL) Director Purchases 20,000 Shares of Stock (FairFieldCurrent.com)
RumbleON, Inc. (OTCMKTS:RMBL) Director Joseph E. Reece bought 20,000 shares of the stock in a transaction on Tuesday, October 30th. The shares were acquired at an average price of $5.50 per share, with a total value of $110,000.00. The acquisition was disclosed in a legal filing with the SEC.
Insider Buying: Marchex, Inc. (MCHX) Major Shareholder Buys $1,039,500.00 in Stock (WeekHerald.com)
Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc bought 350,000 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were acquired at an average price of $2.97 per share, with a total value of $1,039,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
