Billionaire Singer Gets Into an Italian Staring Contest (Bloomberg)
Amos Genish, Telecom Italia SpA’s CEO, seems to have a message for hedge fund billionaire Paul Singer: “Blink, I dare you.” The veteran telecoms executive has had a turbulent year at the helm of the former Italian national carrier. Singer’s activist fund, Elliott Management Corp., acquired a 9 percent stake in Telecom Italia and set about agitating for change. In April, it managed to oust most of the board appointees of Vivendi SA, the French media conglomerate that owns 24 percent of the shares, and replace them with a lineup of Elliott-backed directors.
Hedge Fund Tide Point Shutting Down After Six Years: Sources (Reuters)
BOSTON (Reuters) – Hedge fund Tide Point Capital Management is shutting down due to the majority owner’s personal wishes, the latest casualty in the $3 trillion industry which has faced increasing challenges in raising money and delivering top returns, two sources with knowledge of the move said on Wednesday. A spokesman for the fund declined to comment.
Copyright: welcomia / 123RF Stock Photo
Elliott Reviving Push to Overhaul Hyundai Motor, Letter Shows (Bloomberg)
Elliott Management Corp., the activist fund that forced Hyundai Motor Group to scrap an $8.4 billion deal earlier this year, is resuming its push for changes at the South Korean automotive giant. In a letter from Elliott to Hyundai seen by Bloomberg News, billionaire Paul Singer’s fund called for the merger of some key units to bolster shareholder value and improve the group’s structure. One option is for car-parts maker Hyundai Mobis Co. to sell its after-sale service business to affiliate Hyundai Motor Co., and then merge what’s left of Mobis with logistics affiliate Hyundai Glovis Co., according to the Aug. 14 letter.
The Smartest People on Wall Street Are Buying These 3 Stocks — Should You Follow? (The Motley Fool)
It’s always interesting to see what the titans of Wall Street are doing with their cash. And sometimes you’ll want to follow along for the ride. But other times the risks are too high for most investors. Here’s a little help figuring out if you should mimic George Soros, David Tepper, and Warren Buffett with their investments in Apple Inc. (NASDAQ:AAPL), Caesars Entertainment (NASDAQ:CZR), and Seritage Growth Properties (NYSE:SRG).
Insider Buying: Tenzing Acquisition Corp. Units (TZACU) Chairman Buys 310,000 Shares of Stock (XNewsPress.com)
Tenzing Acquisition Corp. Units (OTCMKTS:TZACU) Chairman Parag Saxena bought 310,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $3,100,000.00. The purchase was disclosed in a filing with the SEC.
Insider Buying: Corcept Therapeutics Incorporated (CORT) Director Acquires 105,792 Shares of Stock (PressOracle.com)
Corcept Therapeutics Incorporated (NASDAQ:CORT) Director G Leonard Baker, Jr. bought 105,792 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was purchased at an average price of $12.50 per share, for a total transaction of $1,322,400.00. Following the acquisition, the director now directly owns 876,838 shares in the company, valued at $10,960,475. The purchase was disclosed in a legal filing with the SEC.
Insider Buying: Pure Bioscience, Inc. Common Stock (PURE) Director Acquires 2,336,187 Shares of Stock (FairFieldCurrent.com)
Pure Bioscience, Inc. Common Stock (OTCMKTS:PURE) Director Tom Y. Lee bought 2,336,187 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was bought at an average cost of $0.45 per share, for a total transaction of $1,051,284.15. The purchase was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Magnachip Semiconductor Corp (NYSE:MX) Major Shareholder Acquires 15,545 Shares of Stock (XNewsPress.com)
Magnachip Semiconductor Corp (NYSE:MX) major shareholder Brigade Capital Management, Lp acquired 15,545 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was acquired at an average price of $11.90 per share, with a total value of $184,985.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Insider Selling: Amyris Inc (AMRS) Director Sells 3,924,884 Shares of Stock (FairFieldCurrent.com)
Amyris Inc (NASDAQ:AMRS) Director Frank Kung sold 3,924,884 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $6.22, for a total transaction of $24,412,778.48. Following the completion of the sale, the director now directly owns 4,266 shares in the company, valued at $26,534.52. The transaction was disclosed in a filing with the Securities & Exchange Commission.
