Danone’s U.S.-listed shares rose nearly 7 percent percent on a report that Corvex Management now owns a stake of about $400 million and rumors surfaced of a possible takeover. Bloomberg reported that Keith Meister’s activist hedge fund has grown its stake in Danone because it thinks the company is greatly undervalued. The fund also reportedly […]
Read morePandora is under new leadership, after its founder stepped aside as CEO for the second time earlier this summer. Roger Lynch, who has held leadership roles at companies like Sling TV and Dish, will be CEO of the music streaming company. Co-founder Tim Westergren said he would step down as CEO at the end of […]
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Bitcoin‘s latest leap higher brings the digital currency closer to a near-term top, Goldman Sachs’ chart analyst said. The digital currency is riding a “fifth wave” of an “impulsive” rally that could run as high as $4,827 in the short term, technical analyst Sheba Jafari said in a Sunday report of charts to watch for […]
Read moreThere may be more scandals under wraps at Uber, according to a letter documenting the fight between Uber shareholders and a top investor. One of Uber’s earliest investors, Benchmark, is suing former CEO Travis Kalanick, alleging Kalanick hid crucial information about the company’s problems, which include a sexual harassment investigation. That investigation was summarized in […]
Read moreInvestors should keep following trends in the stock market, one strategist says. “I recently became a kayaker, and I realized that the best strategy in kayaking is often not to paddle too much,” Doug MacKay, Broadleaf Partners president and chief investment officer, told CNBC’s “Power Lunch.” “Let the current or the trends carry you along […]
Read moreAlphabet has hired Chris Lattner, previously Tesla‘s vice president of the Autopilot autonomous driving software, to work in its Google Brain artificial intelligence group. Lattner revealed the new gig on Twitter and LinkedIn on Monday, two months after announcing he was leaving the carmaker. tweet “TensorFlow is one of the most advanced machine learning frameworks. […]
Read moreMoney management firm VanEck is both skeptical of bitcoin and planning to sell a related investment product, illustrating a rising perception that the surge of interest in the digital currency creates a high-risk opportunity that may be too big to miss. Last Thursday, Joe Foster, the portfolio manager and strategist for VanEck’s flagship International Investors […]
Read moreAmazon Web Services announced a new security service called Amazon Macie at an event in New York on Monday. The tool appears to draws on technology from Harvest.ai, a San Diego start-up that Amazon reportedly acquired earlier this year for a price around $19 million. The start-up offered a security analytics tool called Macie. Amazon […]
Read moreWhen Whole Foods Market agreed to sell itself to Amazon, the deal was seen as a death knell for Blue Apron’s forthcoming IPO. So it was surprising to see that the same activist hedge fund that had been pushing Whole Foods to sell itself had also taken a stake in meal-kit maker Blue Apron during […]
Read moreAstenbeck Capital Management founder Andy Hall is so highly regarded in the oil trading business that he earned the nickname “god.” But Hall has admitted that the value of his analysis has diminished in an age of automated trading. The rise of machine-based algorithmic trading is injecting so much volatility into oil markets, it’s now […]
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