disruptions – Page 3 – The News Desk

Elliott Management Makes $1 Billion Investment in Phillips 66

29Nov

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World

Elliott Management Makes $1 Billion Investment in Phillips 66

Updated Nov. 29, 2023 10:52 am ETElliott Investment Management has made a roughly $1 billion investment in Phillips 66 and is pushing for the appointment of two directors as it seeks to bolster the energy company’s fortunes.In a letter to the Houston-based company’s board, the activist investor outlined what it said is a path to remedying the Houston-based company’s underperformance, improve execution and restore trust with investors. It said it sees about 75% upside to the current share price by unlocking value for shareholders.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Taisho Pharmaceutical Shares Surge on Management Buyout Offer

29Nov

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World

Taisho Pharmaceutical Shares Surge on Management Buyout Offer

Nov. 28, 2023 11:17 pm ETTaisho Pharmaceutical shares surged for a third straight session on Wednesday after the Japanese drugmaker’s management offered to buy out the company.Shares were recently 15% higher at 8,699 yen ($58.99) after earlier touching Y8,727, the highest intraday level since July 2019. Shares have risen 57% since last Friday after market close, when the offer was announced.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Meituan Plans Share Buyback Valued at Up to $1.0 Billion

29Nov

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World

Meituan Plans Share Buyback Valued at Up to $1.0 Billion

Updated Nov. 28, 2023 10:25 pm ETMeituan, a China-based shopping-and-delivery platform, plans to buy back its shares valued up to $1.0 billion, a day after announcing solid third-quarter results.The company said shares will be repurchased from the open market starting Dec. 1.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

28Nov

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Money

Stocks Slip, Pausing November Rally

U.S. stocks inched down Monday, interrupting their November rally. The S&P 500 declined 0.2%. The Dow Jones Industrial Average pulled back about 57 points, or 0.2%. The Nasdaq Composite edged less than 0.1% lower.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills

25Nov

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World

Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills

BERLIN—Bayer Chief Executive Bill Anderson said the company would bounce back quickly from a recent spate of bad news, and warned that a breakup of the pharmaceutical and agricultural company was no universal cure for its ailments.A stream of negative news has rekindled calls from investors for Bayer to unlock value by spinning off its units into separate businesses. But in an interview with The Wall Street Journal this week, Anderson said the company couldn’t be distracted from the tough restructuring to fix the businesses.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

The Trade That Backfired for America’s Biggest Wood-Pellet Exporter

23Nov

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Money

The Trade That Backfired for America’s Biggest Wood-Pellet Exporter

A wrong-way bet on the price of wood pellets has jeopardized America’s biggest exporter of the fuel, even though demand has never been higher among the European and Asia power plants burning wood instead of coal.Enviva said its gambit to buy pellets from a customer, and resell them for more, backfired when prices fell, and that nine-figure losses could trigger a default with its lenders by year-end.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Stocks Extend Rally, Boosted by AI Optimism

20Nov

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Money

Stocks Extend Rally, Boosted by AI Optimism

Nvidia shares gain, and Microsoft hits a new all-time high as investor enthusiasm for artificial intelligence takes center stage again.

Bayer Shares Tumble After Clinical Trial Failure, Loss in Roundup Case

20Nov

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World

Bayer Shares Tumble After Clinical Trial Failure, Loss in Roundup Case

Updated Nov. 20, 2023 3:16 pm ETBayer shares fell sharply after the company stopped a late-stage study for a blood-thinning drug early because of lack of efficacy and was told to pay $1.56 billion in a lawsuit relating to its Roundup weedkiller.Bayer said late Sunday that it discontinued a Phase 3 clinical trial to test its experimental drug asundexian for prevention of stroke and systemic embolism for patients with the heart-rhythm disorder atrial fibrillation.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

The Score: Target, Boeing, Macy’s and More Stocks That Defined the Week

18Nov

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Money

The Score: Target, Boeing, Macy’s and More Stocks That Defined the Week

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16Nov

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World

Alibaba’s Spinoff Plans Fall to Earth

Alibaba’s shareholders finally got their first dividend. But that may not be enough to compensate for hiccups in its spinoff plan and slowing growth.The Chinese e-commerce giant on Thursday announced its first annual dividend since going public in 2014. The company will dish out around $2.5 billion—but that translates to only a 1.1% dividend yield using Wednesday’s closing price.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8