1. Articles from Linette Lopez

    1-24 of 31 1 2 »
    1. Bill Ackman Just \Took a $200 Million Hit to His Reputation

      Bill Ackman Just \Took a $200 Million Hit to His Reputation
      • Billionaire investor Bill Ackman and his firm Pershing Square, along with Valeant Pharmaceuticals, will pay just under $300 million to settle an insider-trading suit over their attempt to buy pharmaceutical firm Allergan in 2014.
      • Ackman will pay the lion's share, contrary to a previous agreement he struck with Valeant.
      • This is yet another in a series of missteps that have been tarnishing Ackman's reputation since he partnered with Valeant...
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    2. We May be About to Witness the Fall of Wall Street God

      We May be About to Witness the Fall of Wall Street God
      • On Tuesday, shareholders will decide whether or not hedge fund billionaire Bill Ackman gains three seats on the board of ADP.
      • Ackman is trying to shake up a company that's already doing well for investors though.
      • If he loses this contest, already worried investors will lose more faith in the embattled hedge fund manager and Ackman's post-financial crisis legend may fade away.

      There is one god-like quality that matters on Wall Street. It is the ability to move markets with a word...

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    3. Literally Everyone Should be Thinking About Suing Equifax

      Literally Everyone Should be Thinking About Suing Equifax

      Everyone should be thinking about suing Equifax, and I mean everyone — the government, its shareholders, and its customers.

      Equifax, a credit-checking company that holds sensitive data belonging to over 140 million, didn't just have one of the worst security breaches in American history, it also handled the situation like a drunk teenager trying to hide the aftermath of particularly destructive house party...

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      Mentions: SEC CFO Equifax
    4. Elizabeth Warren Just Threw Down on a Wall Street Battleground Stock

      Elizabeth Warren Just Threw Down on a Wall Street Battleground Stock

      Sen. Elizabeth Warren (D-MA) is calling for an investigation into TransDigm (TDG), an aerospace parts manufacturer that services the Department of Defense. The stock is down 3% on the news.

      In a letter obtained by CNBC, Warren said she's been monitoring reports that the company uses its opaque pricing structure to charge exorbitant prices for its parts. In many cases, TDG is the sole manufacturer of these parts...

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    5. Hedge Fund Billionaire Bill Ackman Provides a Perfect Example of How The Rich Get Richer

      Hedge Fund Billionaire Bill Ackman Provides a Perfect Example of How The Rich Get Richer

      There's a great piece in the Wall Street Journal about how Wall Street's masters of the universe invest their own personal money through family offices, and how that can sometimes raise eyebrows across the industry.

      It's not hard to see why family offices can be a problem. Big time investors are supposed to be putting their clients' interests first, and the WSJ argues that if they're investing for themselves, they might get distracted from their work...

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    6. Here's the Bill Ackman Apology Wall Street's Been Waiting For (VRX)

      Here's the Bill Ackman Apology Wall Street's Been Waiting For (VRX)

      Hedge fund billionaire Bill Ackman is not known around Wall Street for his humility. But after riding Valeant Pharmaceutical's stock down from a peak of $279 in 2015, to around $11 this month, he has something to say to his investors.

      "Clearly, our investment in Valeant was a huge mistake," he wrote in Pershing Square's 2016 annual letter...

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    7. The Jewelry Giant Caught in a Nasty Discrimination Suit Has a Lot of Other Problems

      The Jewelry Giant Caught in a Nasty Discrimination Suit Has a Lot of Other Problems

      For years, Signet Jewelers, the biggest jewelry retailer in the country, has been in the midst of a shocking 69,000 person class-action sex discrimination suit, which is going to trial this year.

      The disturbing allegations, which management called a "purported parallel universe" on an earnings call with investors on Thursday, describe an environment in which women were treated like objects and male managers could expect sexual favors from subordinates in exchange for promotions...

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      Mentions: Management
    8. A Quick Reminder That Bill Ackman's Worst Nightmare is Still Very Much a Thing

      A Quick Reminder That Bill Ackman's Worst Nightmare is Still Very Much a Thing

      It's time to check in on a Wall Street disaster.

      Valeant Pharmaceuticals will report earnings on February 28, and analysts up and down Wall Street remain skeptical that the company can get back on its feet after a nightmarish run.

      Here's what Wells Fargo analyst David Maris wrote about it in a recent note...

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    9. A Big Ugly Sex-Discrimination Suit is Coming to the Company Where America Buys its Engagement Rings

      A Big Ugly Sex-Discrimination Suit is Coming to the Company Where America Buys its Engagement Rings

      Since 2008, a dozen women employed by Signet Jewelers — which owns Zales, Kay Jewelers, and Jared's Galleria — have been suing the company. They're alleging sexual discrimination at the highest levels.

      The matter, once argued in contractually mandated private arbitration proceedings, has now evolved into a class-action lawsuit, with the trial beginning next month...

      Read Full Article
      Mentions: MDC Partners
    10. 3 Top Investors Just Shared One Stock Pick at a Huge Hedge Fund Conference in NYC

      3 Top Investors Just Shared One Stock Pick at a Huge Hedge Fund Conference in NYC

      Three top investors just shared a stock pick during a panel at the CNBC Institutional Investor Conference in New York City.

      The players were:

      • Robert Bishop, Founder, Impala Asset Management
      • Jim Chanos, Founder and Managing Partner, Kynikos Associates
      • Bill Miller, Founder, Chairman and Chief Investment Officer, LMM
      Read Full Article
    11. The Stock Market is Starting to Buck a Trend That's Been Around Since 1995

      The Stock Market is Starting to Buck a Trend That's Been Around Since 1995

      A lot of strange things are happening in the market these days. For example, it used to be that if you piled into the top ten stocks big hedge funds were in, you could make a nice profit in the stock market. Now that has reversed itself, and overall it seems stock pickers need to be more careful now, and everyone is talking about how they have to find "quality" ...

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    12. Valeant Explains Itself

      Valeant Explains Itself

      After a brutal week that lobbed $20 billion off of Valeant Pharmaceuticals market cap, the firm is explaining itself on a conference call to investors Monday.  Already it has disavowed any legal responsibility for questionable business practices at Philidor, a specialty pharmacy that sells its dermatological products. Valeant owns part of Philidor and has the option to buy to buy more...

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    13. Valeant is About to Hold the Most Intense Investor call in Years — Here are the Questions they Must Answer (VRX)

      Valeant is About to Hold the Most Intense Investor call in Years — Here are the Questions they Must Answer (VRX)

      Not since the financial crisis has a multi-billion company seen its fortunes change as quickly as Valeant Pharmaceuticals.  In the past week, questions have emerged about its business practices that surprised investors and analysts who follow the Canadian drugmaker, and the market's response has been brutal– about $20 billion was erased from the company's market value in just five days...

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    14. The Secret Firm at the Heart of Valeant's Crisis Has an Alleged History of Shady Behavior with Customers

      The Secret Firm at the Heart of Valeant's Crisis Has an Alleged History of Shady Behavior with Customers

      Valeant is getting crushed under allegations of fraudulent accounting.  At the center of the claims is the Canadian drugmaker's relationship with a mysterious company called Philidor RX services.  Philidor is a "specialty pharmacy," which sells Valeant's drugs directly to patients while handling insurance claims on the customers behalf...

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    15. The Hedge Fund Manager Battling the Samsung Dynasty is Getting Creamed

      The Hedge Fund Manager Battling the Samsung Dynasty is Getting Creamed

      Paul Singer isn't that used to this. In his war with Samsung's Lee dynasty over the sale of one piece of their $270 billion empire, the American hedge fund manager has now lost two important battles. And he may now only have one card to play. Singer is fighting to block the sale of construction firm Samsung C&T, of which he owns 7%. He believes the sale price is too low...

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    16. A Perfect Example of How America Has Completely Forgotten What 'Shareholder Value' Really Means

      A Perfect Example of How America Has Completely Forgotten What 'Shareholder Value' Really Means

      After years of using the term "shareholder value" to mean everything from stock buybacks to firings of entire company boards, America has totally forgotten what it means. We now have a perfect example of how the concept has gotten out of control. Fiat Chrysler CEO Sergio Marchionne is reaching out to all the muscle he knows — the big shareholders, the activist hedge funds — to see if anyone will help him force General Motors to merge with his company...

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    17. A Hedge Fund Manager's Meeting With Uber's CFO Perfectly Captures What's Wrong with Corporate America

      A Hedge Fund Manager's Meeting With Uber's CFO Perfectly Captures What's Wrong with Corporate America

      Some of Wall Street's hedge-fund community is becoming increasingly vocal about a serious problem with corporate America. Mike Novogratz, president of $70 billion investment fund Fortress Investments, gave a perfect illustration of this problem on Sunday's episode of "Wall Street Week. " The anecdote was about a meeting he'd had with the former CFO of Uber, Brent Callinicos. Novogratz didn't mention Callinicos by name, referring to him only as "Uber's CFO.

      Read Full Article
    1-24 of 31 1 2 »
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