1 hour ago
Office Depot/OfficeMax parent falls post-market as activist steps down from board
ODP Corporation, the parent company of Office Depot and OfficeMax, fell 5% post-market after its January 2021 deal with hedge fund HG Vola. Expires and HG partner Marcus Dunlop resigns from ODP board Effective December 31, 2023.
HG Vora, which owns 3 million ODP shares representing approximately 8%, “continues to support the board's continued efforts to execute our long-term strategy and shareholder-focused capital allocation plan,” Dunlop said. he said.
According to reports, on December 18th, HG Vora disclosed its 18.5% stake in Penn Entertainment, and has consulted with management and the board of directors to increase shareholder value and requested representation on the board of directors. Announced. 13D filing with SEC.
— Scott Schnipper
1 hour ago
AI is different from previous internet and VR bubbles, says Bank of America
Tech stocks rose in 2024 due to the proliferation of artificial intelligence applications.
However, some investors are questioning the viability of the AI trend, according to Bank of America's Robert Cheng, saying it is similar to previous developments such as the internet bubble in the 1999s and the VR bubble in the 2020s. Compared to short-lived themes.
However, analysts disagree with these concerns.
“We believe that AI is different because the key players are global CSPs. [cloud service providers] “In the era of the Internet and VR bubble, most startups focused on the consumer market. Investing,” he wrote.
— Lisa Kailai Han
1 hour ago
Bloomin' Brands soars 4% with two board appointments
Outback Steakhouse owner Bloomin' Brands rose 4% after announcing the company's name. Two directors appointed to the board of directors The move was part of an agreement with activist investor Starboard Value, which owns about 10% of the company.
Dave George, former chief operating officer of Darden Restaurants, and John Sagal, a partner at Starboard, will both join the company's board of directors.
Bloomin also announced that it will create a steering committee on its board of directors tasked with identifying potential areas for improvement.
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Bloomin' Brands soars as company appoints two new directors
1 hour ago
