Latest news with #ElliottManagement
Bloomberg
3 days ago
- Business
- Bloomberg
Thames Water Enters Key Month to Hammer Out Terms of Rescue Deal
Thames Water's financial rescue is entering a decisive month, as suitors haggle over creditor losses and the future of the indebted utility. US infrastructure giant KKR & Co. and a group of the company's creditors including Silver Point Capital and Elliott Management are due to submit their plans for fixing Thames to regulator Ofwat by the end of Friday. Negotiations are expected to run throughout June with agreement in summer — but for that, the successful bidder will need to cut a deal with the debtholders that currently control the company on the scope of their losses.
Bloomberg
4 days ago
- Automotive
- Bloomberg
Stock Movers: Macy's, Stellantis, Honeywell
On this episode of Stock Movers: - Macy's (M) posted better-than-expected quarterly results — a sign the department-store operator's strategy of focusing on its best-performing locations is starting to pay off despite weakening consumer sentiment and tariff volatility. Comparable-store sales in the fiscal quarter ended May 3 fell less than analysts had anticipated, the company reported on Wednesday, while revenue of $4.6 billion in the period also surpassed the average estimate. - Stellantis NV (STLA) appointed its Americas head Antonio Filosa as chief executive officer, relying on an experienced company insider to turn around the automaker after former boss Carlos Tavares was forced out over slumping sales and profit. Filosa, 51, will take the helm at the maker of Jeep sport utility vehicles and Fiat cars on June 23, Stellantis said Wednesday. He was promoted to head the company's North American operations in October as part of a broader shake-up in the waning days of Tavares' tenure, and has been with the group for more than two decades. - Honeywell International Inc. (HON) agreed to cooperate with Elliott Investment Management and add a member of the activist shareholder to its board as the industrial firm prepares to split into three companies. Honeywell named Marc Steinberg, a partner at Elliott, as an independent director and audit committee member, the Charlotte, North Carolina-based manufacturer said in a statement on Wednesday. The appointment is effective May 31.
Bloomberg
4 days ago
- Business
- Bloomberg
Honeywell Enters Cooperation Pact With Elliott Before Breakup
Honeywell International Inc. agreed to cooperate with Elliott Investment Management and add a member of the activist shareholder to its board as the industrial firm prepares to split into three companies. Honeywell named Marc Steinberg, a partner at Elliott, as an independent director and audit committee member, the Charlotte, North Carolina-based manufacturer said in a statement on Wednesday. The appointment is effective May 31.
Reuters
5 days ago
- Business
- Reuters
Honeywell expected to add Elliott's Marc Steinberg to board, WSJ reports
May 28 (Reuters) - Honeywell (HON.O), opens new tab is expected to add activist Elliott Investment Management's Marc Steinberg to its board at the end of May, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Yahoo
25-05-2025
- Business
- Yahoo
Redburn Upgrades Charles River Laboratories (CRL) to Buy, Cuts PT
On May 23, Redburn Atlantic turned bullish on Charles River Laboratories International, Inc. (NYSE:CRL) as it upgraded its stock from 'Neutral' to 'Buy,' despite marginally reducing the price objective to $182 from $188. The upgrade was seen off the back of an improvement in demand in Charles River Laboratories International, Inc. (NYSE:CRL)'s Discovery and Safety Assessment (DSA) business. Furthermore, Elliott Management is the company's largest investor. This, along with the announcement of a comprehensive strategic review, is seen as a catalyst for future performance. A laboratory scientist surrounded by drug-discovery equipment and resources. Also, the valuation profile of Charles River Laboratories International, Inc. (NYSE:CRL) is being aided by its leading position in the broader market and expectation of a growth trajectory after the demand normalizes. Additionally, the firm believes that its Q1 2025 report demonstrated the initial signs of improvement in demand. Redburn Atlantic opines that the stock's current valuation hints at a 36% discount to its 10-year average historical forward multiple. The signs of demand stabilization were highlighted by a strong improvement in DSA booking activity. Charles River Laboratories International, Inc. (NYSE:CRL) believes that its long-standing hallmarks of advancing scientific innovation and driving greater efficiency in the clients' drug development programs are expected to present numerous future opportunities. Charles River Laboratories International, Inc. (NYSE:CRL) is engaged in providing drug discovery, non-clinical development, and safety testing services. While we acknowledge the potential of CRL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRL and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. Sign in to access your portfolio
