Stocks & Bonds

CBS Board Reportedly Offers Embattled CEO Moonves $100 Mln in Stock as Severance Package

The board of media company CBS (CBS) has engaged CEO Leslie Moonves in talks that would pave the way for his exit, CNBC reported, citing sources. According to the report, Moonves is due as much as $180 million in severance and a production deal. The board, however, is offering a roughly $100 million severance package made up almost entirely of […]

Crescent Point Energy Appoints CEO and Chairman; Targets $1 Bln Debt Reduction

Crescent Point Energy Appoints CEO and Chairman; Targets $1 Bln Debt Reduction

Crescent Point Energy (CPG, CPG.TO) said it has named Craig Bryksa chief executive officer and Robert Heinemann chairman as it pursues new strategies. Bryksa had been serving as interim CEO while the company conducted a search for a successor to Scott Saxberg, who stepped down in May. Heinemann succeeds Peter Bannister, who has stepped down after serving since 2014. Crescent […]

Coupa Software Surges as Second Quarter Profit Surprises Investors

Coupa Software Surges as Second Quarter Profit Surprises Investors

Shares in Coupa Software (COUP) traded sharply higher early Wednesday after the company surprised investors by swinging to a profit in its fiscal second quarter, and as earnings and sales forecasts for the third quarter beat analysts’ estimates. Underpinned by strong growth in subscription revenues, group turnover surged by 38% to $61.7 million during the three months that ended July […]

Tribune Media May Review Assets, Make Acquisitions in Wake of Sinclair Deal Failure

Tribune Media (TRCO) could still explore a strategic review of some of its assets and start making acquisitions soon after killing its attempt to merge with Sinclair Broadcast Group (SBGI), S&P Global Ratings said on Wednesday. The agency raised its outlook on the Chicago-based broadcast and digital content company to stable from negative, while affirming its BB- issuer credit rating […]

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts (AAP) reported better-than-expected results for its second quarter, with a turnaround in comparable store sales bringing a higher view for the aftermarket parts retailer’s full-year outcome. The Roanoke, Virginia-based company said net sales rose 2.8% in the second quarter to $2.33 billion, beating the consensus on Capital IQ for $2.26 billion. Adjusted earnings increased to $1.97 a […]

Rite Aid Shares Plunge After Announcing $24 Billion Merger With Albertsons Terminated

Rite Aid Shares Plunge After Announcing $24 Billion Merger With Albertsons Terminated

Rite Aid (RAD) shares plunged in early trading on Thursday after the company said its proposed merger with Albertsons Companies was canceled. The companies said in a statement on Wednesday that they’d made a mutual decision to terminate the $24 billion merger, which was originally announced in February. The transaction had been under scrutiny from investors and shareholders. Rite Aid […]

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto (RIO) is exploring an option to publicly list its Iron Ore Company of Canada business as the mining giant aims to improve revenue from its flagship Australian assets, Reuters reported, citing banking and industry sources. Iron Ore is one of Canada’s biggest producers of iron ore. In 2017, it generated revenue of $1.9 billion. It is 59% owned […]

Paddy Power Betfair Lowers Full-Year Operating Earnings Outlook

Paddy Power Betfair Lowers Full-Year Operating Earnings Outlook

Paddy Power Betfair (PPB.L), the British gambling firm, early Wednesday cut its full-year operating earnings outlook because of a planned introduction of taxes in Australia and the need to absorb losses from its FanDuel acquisition, and as adjusted net income fell in the first half. Underlying earnings per share fell to 173.6 pence (224.8 cents) in the six months to […]

Musk’s Tweet on Taking Tesla Private May Indicate He Has `Significant’ Funding Lined Up

Musk’s Tweet on Taking Tesla Private May Indicate He Has `Significant’ Funding Lined Up

Tesla (TSLA) Chief Executive Elon Musk tweeted on Tuesday that he is considering taking the company private at $420 a share, a 22% premium to its closing price the day before, and given his demeanor it seems there may be “significant” funding already lined up, RBC Capital Markets said in a note to clients. “Elon’s tone and messaging regarding a […]