CEO’s Plan to Save Sears Would Hand His Hedge Fund $1 Billion (Bloomberg)
Eddie Lampert’s hedge fund has a new plan for cutting Sears debt. The main beneficiary would once again be Eddie Lampert’s hedge fund. Lampert, Sears Holdings Corp.’s chief executive officer, called this week for the underperforming retailer to stanch the bleeding by paying off certain loans — many of them owned by his hedge fund — while swapping other debt for notes that convert to equity. This comes at a time when Sears stock is hovering just above $1 a share, an 87 percent dive in the past year.
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Singer’s Hedge Fund Gets a Surprising Helping Hand (Bloomberg)
The resignation of a company’s chief executive and chairman in quick succession usually heralds a period of corporate inaction. Even if replacements can be found swiftly, they need time to piece together a new strategy. The leadership vacuum at German industrial giant Thyssenkrupp AG is apparently no barrier to radical surgery, though. On Thursday the company confirmed a report from Bloomberg News’s Eyk Henning that it plans to separate its capital goods and steel operations to create two more focused, listed companies.
Companies are Sticking to a Practice that Warren Buffett and other Business Titans Warn is Damaging the Economy (Business Insider)
Warren Buffett has long said short-termism is bad for companies, but many didn’t seem to concur last year. Companies on the S&P 500 issued quarterly earnings guidance 444 times in 2017, the most since 2008, according to a report by S&P Global Market Intelligence released on Thursday. Forward guidance remains a cornerstone of the quarterly ritual of earnings reporting. Unlike their results, public companies are not required by law to give investors hard estimates for the future. But many companies do so anyway to give analysts and shareholders a sense of their outlook and sometimes by popular demand.
This $8B hedge fund startup is growing at Park Avenue Tower (TheRealDeal.com)
Hedge fund ExodusPoint Capital is expanding by almost 18,000 square feet at the 36-story Park Avenue Tower. The company will grow by 17,800 square feet, which will bring its total footprint to about 35,700 square feet, according to Commercial Observer. It will occupy the entire ninth and 10th floors of the 65 East 55th Street building, run by landlord EQ Office. The hedge fund launched in June with a reported $8 billion in capital and has occupied the building’s ninth floor since March.
Insider Buying: Where Food Comes From Inc. (WFCF) Director Buys 950,000 Shares of Stock (XNewsPress.com)
Where Food Comes From Inc. (OTCMKTS:WFCF) Director Graeme P. Rein bought 950,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was purchased at an average cost of $1.90 per share, for a total transaction of $1,805,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission.
Insider Selling: DXC Technology Co (NYSE:DXC) CFO Sells 50,000 Shares of Stock (MareaInformativa.com)
DXC Technology Co (NYSE:DXC) CFO Paul N. Saleh sold 50,000 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $92.03, for a total transaction of $4,601,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Insider Buying: Energy Services of America Corp. (ESOA) President Buys $14,450.80 in Stock (WeekHerald.com)
Energy Services of America Corp. (OTCMKTS:ESOA) President Douglas V. Reynolds bought 13,895 shares of Energy Services of America stock in a transaction dated Thursday, September 20th. The stock was acquired at an average price of $1.04 per share, with a total value of $14,450.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Insider Buying: Oragenics Inc (OGEN) Major Shareholder Buys 100,000 Shares of Stock (XNewsPress.com)
Oragenics Inc (NYSEAMERICAN:OGEN) major shareholder Family Lp Koski bought 100,000 shares of the stock in a transaction dated Monday, September 17th. The shares were acquired at an average price of $0.42 per share, with a total value of $42,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Insider Buying: Torchlight Energy Resources Inc (NASDAQ:TRCH) Director Acquires 12,764 Shares of Stock (FairFieldCurrent.com)
Torchlight Energy Resources Inc (NASDAQ:TRCH) Director Michael James Graves acquired 12,764 shares of Torchlight Energy Resources stock in a transaction on Thursday, August 30th. The stock was purchased at an average cost of $1.13 per share, with a total value of $14,423.32. Following the purchase, the director now directly owns 140,000 shares of the company’s stock, valued at approximately $158,200. The purchase was disclosed in a legal filing with the SEC.
