Activist investor Daniel S. Loeb is committed to his battle with Sotheby’s (BID) management, with his latest announcement of nominating himself to the company’s board along with two other people, namely Harry Wilson of MAEVA Group LLC and Olivier Reza of the House of Alexandre Reza.
SAN FRANCISCO: Lack of a long-awaited turnaround at Yahoo has put pressure on chief executive Marissa Mayer to prove she has what it takes to revive the faded Internet pioneer. Investors, who were already disappointed by low momentum under Mayer, were given more to worry about this week. A hedge fund with a stake in Yahoo urged the Internet giant Thursday to drop its planned spin off of its holdings in China's Alibaba. The hedge fund, Starboard Value, said the company should instead sell its "core" Internet operations.
By Dividend Kings:In an era when authenticity and complete transparency rule, Yahoo (YHOO) is failing miserably, and shareholders are not happy. The company is currently engaged in a battle for eyeballs with Google (GOOG) and a tussle for corporate control with the hedge fund Third Point.
Hedge fund hot-shots David Einhorn and Daniel Loeb's fund have had some solid gains in 2013, especially during the month of November. According to DealBook's Matthew Goldstein, Einhorn's Greenlight Capital posted a 4.7% gain in November. Greenlight Capital is up 19.1% year-to-date.
Third Point sent Yahoo a request for records relating to its selecting former eBay executive Scott Thompson as its chief executive, after the besieged technology company admitted that it had misstated its leader's academic credentials.
The latest rumor is that Yahoo Inc. (YHOO), which remains one of the biggest names in Internet business and online search, is seeing a growing number of bids for the whole or a part of its business.