Activist Engine Capital Sues Newly Formed Engine No. 1 Over Name (Bloomberg)
Activist investor Engine Capital Management is asking a judge to block another corporate agitator from calling itself Engine No. 1, saying the name could cause confusion in the investment community. San Francisco-based Engine No. 1, formed in December by tech investor Chris James, has threatened a proxy fight at Exxon Mobil Corp.
IHS Markit to Publish Daily Credit Spread Adjustment for SOFR from Q2 2021 (Institutional Asset Manager)
With less than a year until the anticipated end of many global interbank offered rates (IBOR), the Alternative Reference Rates Committee (ARRC) has recommended the Secured Overnight Financing Rate (SOFR) to replace USD LIBOR. Since its emergence in 2018, some liquidity in SOFR-linked financial instruments has developed, but many legacy products and industry segments are struggling to adapt to the new rate. As a leading index provider with a strong credit franchise, IHS Markit is well-positioned to help the industry overcome the challenges presented by SOFR – specifically by addressing the differences in a secured versus unsecured rate.
Buffett-Backed BYD Sells $3.9 Billion of Shares as EV Stocks Electrify (The Wall Street Journal)
BYD Co., a Chinese car maker backed by Warren Buffett, raised $3.9 billion from a stock sale, joining peers in capitalizing on investors’ bullishness about new-energy vehicles. The deal marks BYD’s biggest equity financing since it listed in Hong Kong in 2002. The company, whose stock also trades in Shenzhen, makes electric cars, batteries, plug-in hybrids and fossil-fuel-powered vehicles.
Thursday 1/21 Insider Buying Report: YORW, NYC (Nasdaq.com)
At York Water, a filing with the SEC revealed that on Tuesday, CEO & President Joseph Thomas Hand bought 249 shares of YORW, at a cost of $44.27 each, for a total investment of $11,027. So far Hand is in the green, up about 4.2% on their purchase based on today’s trading high of $46.15. York Water is trading trading flat on the day Thursday. Before this latest buy, Hand purchased YORW at 5 other times during the past year, for a total cost of $35,842 at an average of $42.84 per share. And at New York City Reit, there was insider buying on Wednesday, by CEO Edward M. Weil Jr. who purchased 300 shares for a cost of $9.94 each, for a total investment of $2,980. Before this latest buy, Weil Jr. purchased NYC at 8 other times during the past twelve months, for a total cost of $58,154 at an average of $12.35 per share. New York City Reit is trading up about 4.2% on the day Thursday.
The Chief Financial Officer of BlackBerry (NYSE: BB) is Selling Shares (Analyst Ratings)
Today, the Chief Financial Officer of BlackBerry (BB), Steve Rai, sold shares of BB for $198.4K. Following Steve Rai’s last BB Sell transaction on October 05, 2020, the stock climbed by 8.3%. In addition to Steve Rai, 3 other BB executives reported Sell trades in the last month. The company has a one-year high of $13.64 and a one-year low of $2.70. The Company has a Price to Book ratio of 45.00.
Arena Pharmaceuticals Inc (ARNA) President and CEO Amit Munshi Sold $8 million of Shares (Guru Focus)
President and CEO of Arena Pharmaceuticals Inc, Amit Munshi, sold 100,000 shares of ARNA on 01/19/2021 at an average price of $80.19 a share. The total sale was $8 million. Arena Pharmaceuticals Inc is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing novel drugs that target G protein-coupled receptors, or GPCRs, to address unmet medical needs.
Insider Trading Sentence of Vegas Gambler Commuted by Trump (Greenwich Time)
LAS VEGAS (AP) – A Las Vegas professional gambler, real estate mogul and philanthropist who was convicted in an insider trading case said Wednesday he’s grateful his prison sentence was commuted by former President Donald Trump. William “Billy” Walters said in a statement issued through publicists that he’ll continue to pursue a lawsuit against federal law enforcement officials in New York who won his conviction in 2017 in a case that drew headlines for its ties to professional golfer Phil Mickelson.
