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A flurry of announcements — including a cash infusion from KKR, new board members and widening losses — sets the stage for a sale of the company.
May 09, 2017 at 11:57PM
from By JENNIFER SABA
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Twenty Practical Steps to Better Corporate Governance | The Corporate Secretaries International Association (CSIA)
Twenty Practical Steps to Better Corporate Governance | The Corporate Secretaries International Association (CSIA) Please click the li...
Showing posts with label May 09. Show all posts
Showing posts with label May 09. Show all posts
Wednesday, May 10, 2017
Pandora, Digital Music Pioneer, Is Running Out of Options
Buffett’s fledgling biBERK pursues online insurance ‘experiment’
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OMAHA, Neb. (Reuters) – It has been decades since anyone thought of Warren Buffett’s Berkshire Hathaway Inc, or even its insurance operations, as “very, very small.”
May 09, 2017 at 11:50PM
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Competition Commission of India(CCI) Approves VIDEOCON D2H & Dish TV Merger
Videocon d2h has received the approval of Competition commission of India (CCI) for the proposed merger of Videocon d2h and Dish TV. The commission in its meeting dated 5th May has approved the merger under sub section (1) of section 31 of the…
May 09, 2017 at 11:53PM
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Kapil Mishra’s outburst may jolt AAP but residents of his constituency thank Arvind Kejriwal for his ouster – Firstpost
Firstpost |
Kapil Mishra’s outburst may jolt AAP but residents of his constituency thank Arvind Kejriwal for his ouster
Firstpost What took Arvind Kejriwal from IIT to IAS to RTI activism to the office of the Delhi chief minister? The popular narrative is anger — the beating … Six months ago, about 60 women from Sonia Vihar ward took out their slippers to beat up the minister … |
May 09, 2017 at 11:55PM
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GSO Parent Company — GLS — Acquires Regional Overnight Parcel Delivery Carrier, Postal Express
May 09, 2017 at 11:53PM
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Tuesday, May 9, 2017
Why Failure is Critical to DevOps Culture
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One of the first steps in DevOps is to understand the need for some failures and learn from them.
May 09, 2017 at 11:46PM
from Jason Hand, VictorOps
Snap is about to make its first check-in with Wall Street, but will its reclusive CEO be a no-show? (SNAP)
Snapchat will deliver its first progress report a public company on Wednesday, but it’s still a mystery whether the man investors want to hear from will show up.
Evan Spiegel, the reclusive 26-year-old Snap CEO, is considered the product visionary who turned the disappearing messages app into a global phenomenon. And with Snapchat facing intense competition from Facebook, and its stock trading below the opening price of its February IPO, Spiegel is the man Wall Street is betting on to lead the company to victory.
“People invested based on Evan’s product genius,” said Eric Kim, a partner at Goodwater Capital.
Investors want to get a sense of who Spiegel is, what his demeanor is like and what his vision for the product is.
Spiegel is still a relatively unfamiliar figure in the eyes of investors. When Snapchat was a privately held startup, Spiegel didn’t take the stage at flashy product launches, as many of his peers do, and he made relatively few public appearances. Compare that to Facebook CEO Mark Zuckerberg, who is currently on a tour of the US, with photos of his various stops regularly posted on his profile page.
Since Snap’s initial public offering, Spiegel appears to have done only one interview to the Los Angeles Times immediately following his IPO despite public backlash against remarks he supposedly made about India and Spain.
Wednesday’s earnings conference call will provide Spiegel with the first chance to lift a little bit of the veil on who he is and what he’s thinking about the future of Snapchat, especially in wake of Facebook coming at the company with guns blazing. The question is whether Spiegel sticks to his under-the-radar image or decides to address investors head-on.
Spiegel could skip out on the call altogether, leaving COO Imran Khan and CFO Drew Vollero who run the business side of things to handle the investor inquisition.
Snap Inc. declined to comment on whether Spiegel would be on the investor call.
Under attack
While some high-profile CEOs like the late Apple founder Steve Jobs and Amazon boss Jeff Bezos have eschewed investor calls, many tech CEOs today carry the mantle of explaining their business to the world, including Snap’s rival Mark Zuckerberg.
Yet nothing about Spiegel’s history suggests he’s willing to follow tradition for tradition’s sake.
The greatest example is how Snap conducted its IPO in February.
Instead of offering traditional voting shares, Snapchat’s parent company only offered non-voting shares to the public as part of its initial offering. The non-voting shares and Snap’s corporate structure set it up so that Spiegel and his cofounder Bobby Murphy retain control of the company despite its public status.
Now that Spiegel’s brainchild is about to issue its first earnings report on Wednesday, Spiegel has a chance to share his vision for the product with the world should he choose to and lay out how it will continue to fight back against Facebook’s attempts to thwart its user growth. Snap, however, has already said that it’s not issuing foreword looking guidance about its business.
A Spiegel no-show on Wednesday would be “disappointing,” said Eric Kim of Goodwater Capital, a firm that specializes in consumer company analysis. Kim believes that Spiegel has to be on the call because it’s the product under attack, not its business financials or ad business.
Specifically, Kim wants to know how Snap plans to address the moves Facebook has made to claw away Snap’s userbase. In a recent survey by Kim’s firm, Facebook had increased its share of the “Stories” market when it cloned one of Snap’s most popular features. Meanwhile, Snap’s share had stayed flat.
RBC’s Mark Mahaney also found mixed results on Snapchat’s traffic trends. In Mahaney’s report, he noted that Comscore data showed that total time spent in the app had declined, although its average monthly unique visitors had increased in the first quarter.
Investors bought into Snapchat’s vision during the IPO roadshow and Spiegel was there to make the presentation and answer questions. But the competition from Facebook means Spiegel needs to make an appearance to explain what happens next with the product, Kim says.
“Maybe pre-Facebook Stories yes, but post Facebook Stories no,” Kim said about whether Spiegel could afford to not lead the call. “When he [Spiegel] went public, Facebook didn’t have this product feature that went after his core user base.”
While it remains to be seen how the stock will react to a potential Spiegel no-show, it shouldn’t surprise investors. After all, they’ve already invested in the young CEO’s vision for the product when they bought non-voting shares of a company he majority controls.
SEE ALSO: http://ift.tt/2oc4NSf
Join the conversation about this story »
NOW WATCH: SCOTT GALLOWAY: Why you should worry about a company if its CEO is in a fashion magazine
May 09, 2017 at 11:41PM
from Biz Carson
What you need to know on Wall Street today
The equity market is quiet — some might say too quiet. For evidence of that, look no further than the CBOE Volatility Index, or VIX, which serves as a stock market “fear gauge” and on Monday closed at its lowest level since 1993.
It’s a development that’s confounded Wall Street traders and strategists alike for weeks. We spoke to John Manley, who helps oversee about $230 billion as chief equity strategist for Wells Fargo Funds Management, to get his read on the hottest story in markets right now.
If you missed Business Insider’s interview with JPMorgan CEO Jamie Dimon, here are a couple of highlights:
- DIMON: There is a “national catastrophe” in American education
- DIMON: “Something went wrong, and the leaders collectively are responsible”
- DIMON: Trump’s economic agenda is the right agenda
In related news, JPMorgan has unleashed another 100,000-point rewards offer to Sapphire credit card holders in its latest push to win over millennials.
Goldman Sachs has named a new lineup at the top of its investment banking division. Rothschild & Co., one of the oldest banks in Europe, is making a move on Silicon Valley.
Jeff Gundlach just painted an ugly picture for US stocks. And these two charts highlight Wall Street’s skepticism around Trump’s tax plan.
Investors worth trillions are putting pressure on food companies to serve more fake meat. And a top Goldman Sachs analyst explained why investors need to pay attention to Wall Street’s sustainable revolution.
Here’s what David Einhorn just presented at one of the biggest hedge fund conferences of the year. And another hedge fund manager thinks he’s found the perfect way to invest in Tesla. Speaking of Tesla, the car company’s soaring stock price is causing investors to overthink everything, according to Business Insider’s Matt DeBord. Oh, and while Tesla shares have been booming, another automaker has been doing even better.
In related news, this is the best car Audi has ever made.
In company news:
- Traders are doubling down on their bets against Snap
- BUFFETT ON GOOGLE: Imagine having a business where “a cash register rung somewhere out in California” every time someone clicks
- Bumble Bee will plead guilty for fixing canned-tuna prices
- Hertz tanks 15% after missing big on earnings
- American Airlines boosts its forecast for a key revenue metric
- CBOE’s profit tumbles 69.3% as costs jump
- Office Depot beats, but same-store sales whiff
- Valeant explodes after boosting guidance
- Allergan beats, raises its forecast
- A giant drugmaker just set the strictest price-increase caps of the industry
Here are the 24 major cities with the highest salaries in the world. Here are the 29 places you should travel to this summer. And lastly, these are the most important dishes that have ever been served at the best restaurant in the world.
SEE ALSO: The 27 most important finance books ever written
Join the conversation about this story »
NOW WATCH: A healthcare expert reveals why you should fight costly medical bills
May 09, 2017 at 11:41PM
from Business Insider
Mid-Afternoon Market Update: Crude Oil Down 1%; CPI Aerostructures Shares Spike Higher
Toward the end of trading Tuesday, the Dow traded down 0.12 percent to 20,988.06 while the NASDAQ gained 0.25 percent to 6,117.81. The S&P also fell, dropping 0.07 percent to 2,397.66.
May 09, 2017 at 11:46PM
from Lisa Levin
JC Penney Tops This Week’s List Of Hottest Short-Selling Ideas
FIS Astec Analytics has released its latest weekly report on the hottest stocks among short sellers from the previous week.
Latest Ratings for JCP
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| May 2017 | Gordon Haskett | Initiates Coverage On | Reduce | |
| Feb 2017 | B. Riley | Downgrades | Buy | Neutral |
| Feb 2017 | Morgan Stanley | Upgrades | Underweight | Equal-Weight |
View More Analyst Ratings for JCP
View the Latest Analyst Ratings
May 09, 2017 at 11:46PM
from Wayne Duggan
Former Lloyds bosses to face October court date over shareholder HBOS lawsuit
May 09, 2017 at 11:29PM
from Ben Martin
Quebec says Bombardier must listen to pension fund concerns on governance – Nasdaq
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Quebec says Bombardier must listen to pension fund concerns on governance
Nasdaq (Adds comments from minister) By Allison Lampert and Matt ScuffhamMONTREAL/TORONTO, May 9 (Reuters) – Bombardier Inc <BBDb.TO> faced fresh pension fund opposition to the re-election of its executive chairman on Tuesday and the Quebec … |
May 09, 2017 at 11:43PM
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Barclays CEO Staley Will Face His Shareholders Wednesday Amid Whistleblower Scandal
Barclays CEO Jes Staley will come under the spotlight at the company’s annual general meeting this Wednesday as shareholders get the chance to vote on his re-election to the board.
The meeting comes after Institutional Shareholder Services, a proxy advisory firm, recommended that shareholders abstain in protest after Staley’s attempt to identify an internal whistleblower, a move that spurred investigations in the United Kingdom by both the Financial Conduct Authority and the Prudential Regulation Authority.
His position as CEO is not up for debate at the meeting.
May 09, 2017 at 11:30PM
from Editor
George Ochenski: Questionable governance from all sides – The Missoulian
The Missoulian |
George Ochenski: Questionable governance from all sides
The Missoulian While America and Montana watch the machinations of Democrats and Republicans at the national and local level, one thing is becoming increasingly clear – we are in a new era of very questionable governance where the goal of serving the public good has … |
May 09, 2017 at 11:43PM
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Why Shares of Biopharma Giant Celgene (CELG) Tumbled Today
May 09, 2017 at 11:33PM
from
Journey To The Corporate Boardroom – Life Science Leader Magazine
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Journey To The Corporate Boardroom
Life Science Leader Magazine If you have never served on a corporate board, you might be curious as to what it all entails. Thanks to BioBreak and Drexel University, Life Science Leader undertook the development of a threepart series of articles titled “Journey To The Corporate … |
May 09, 2017 at 11:21PM
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Strange times: The S&P 500 just did something unprecedented
May 09, 2017 at 11:33PM
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