Lisa's Feed
Nov 14, 2014

Jana Partners takes new stakes in Alibaba, McDonald’s in third quarter

NEW YORK (Reuters) – Jana Partners LLC, the $11 billion hedge fund run by Barry Rosenstein, took new stakes in Chinese e-commerce company Alibaba and fast food company McDonald’s Corp in the third quarter, according to a regulatory filing on Friday.

Alibaba Group Holding Ltd’s $25 billion listing in September set records as the largest ever. While that initial public offering priced at $68 per share, the stock has since surged to about $115.

Nov 14, 2014

Jana Partners takes new stakes in Alibaba, McDonald’s in 3rd qtr

NEW YORK, Nov 14 (Reuters) – Jana Partners LLC, the $11
billion hedge fund run by Barry Rosenstein, took new stakes in
Chinese e-commerce company Alibaba and fast food
company McDonald’s Corp in the third quarter, according
to a regulatory filing on Friday.

Alibaba Group Holding Ltd’s $25 billion listing in September
set records as the largest ever. While that initial public
offering priced at $68 per share, the stock has since surged to
about $115.

Nov 4, 2014

U.S. soda makers headed for tax showdown in California

BERKELEY Calif/NEW YORK (Reuters) – No American city has passed a ballot measure raising taxes on sugary drinks, and ahead of votes Tuesday in Berkeley and San Francisco, the U.S. soda industry has been working hard to keep it that way.

In Berkeley alone, the American Beverage Association and its members have spent at least $2.1 million, or about $27 per eligible voter, to fight a ballot measure that would impose a new 1-cent per ounce tax on sugary beverages that supporters say would reduce consumption and battle obesity and diabetes.

Oct 25, 2014

Port squeeze threatens US retailers’ holiday stocking plans

CHICAGO/LOS ANGELES (Reuters) – A shortage of transportation equipment and possible labor disruptions at ​the Los Angeles/Long Beach port complex, ​the nation’s busiest, is delaying shipping containers for up to three weeks, threatening timely delivery to retailers for the holiday season.

The delays are affecting retailers including JC Penney Co (JCP.N: Quote, Profile, Research, Stock Buzz), Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz), Kohl’s Corp (KSS.N: Quote, Profile, Research, Stock Buzz) Nordstrom Inc (JWN.N: Quote, Profile, Research, Stock Buzz), American Eagle (AEO.N: Quote, Profile, Research, Stock Buzz), Ralph Lauren (RL.N: Quote, Profile, Research, Stock Buzz) and Carter’s (CRI.N: Quote, Profile, Research, Stock Buzz), according to three people with direct knowledge of the situation.

Oct 24, 2014

Exclusive: Port squeeze threatens U.S. retailers’ holiday stocking plans

CHICAGO/LOS ANGELES (Reuters) – A shortage of transportation equipment and possible labor disruptions at ​the Los Angeles/Long Beach port complex, ​the nation’s busiest, is delaying shipping containers for up to three weeks, threatening timely delivery to retailers for the holiday season.

The delays are affecting retailers including JC Penney Co (JCP.N: Quote, Profile, Research, Stock Buzz), Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz), Kohl’s Corp (KSS.N: Quote, Profile, Research, Stock Buzz) Nordstrom Inc (JWN.N: Quote, Profile, Research, Stock Buzz), American Eagle (AEO.N: Quote, Profile, Research, Stock Buzz), Ralph Lauren (RL.N: Quote, Profile, Research, Stock Buzz) and Carter’s (CRI.N: Quote, Profile, Research, Stock Buzz), according to three people with direct knowledge of the situation.

Oct 23, 2014

Dunkin’ Brands warns on U.S. Dunkin’ Donuts sales

Oct 23 (Reuters) – Dunkin’ Brands Group Inc on
Thursday warned that this year’s sales at established U.S.
Dunkin’ Donuts coffee shops will be weaker than forecast as more
chains try to take a bite out of the fast-food breakfast
business.

Shares in the company, which reaps roughly three-quarters of
total revenue from its U.S. Dunkin’ Donuts business, dropped 3.5
percent to $45.15 in Thursday morning trading on the Nasdaq.

Oct 21, 2014

McDonald’s CEO acknowledges image problems after tough results

Oct 21 (Reuters) – McDonald’s Corp Chief Executive
Officer Don Thompson owned up to some corporate image problems
on Tuesday after it posted a nearly one-third drop in quarterly
profit and warned that its global restaurant sales would fall
again this month.

Stock in the fast-food chain, which Thompson conceded is
sometimes seen as little more than “a manufacturing plant,” was
down 0.6 percent at $91 in afternoon trading after reporting a
30 percent fall in third-quarter net income to $1.07 billion and
traffic declines in every major region.

Oct 21, 2014

Tough U.S. rivalries, China food scandal pound McDonald’s

Oct 21 (Reuters) – McDonald’s Corp’s – which has not
given investors many reasons to sing the fast-food chain’s “I’m
lovin’ it” jingle – on Tuesday said quarterly profit dropped by
nearly one-third and warned that global restaurant sales will
fall again in October.

Stock in the company, which attracted fewer customers during
the third quarter, was off 0.6 percent at $91.05 in early
trading.

Oct 10, 2014

Darden loses full board in activist sweep

ORLANDO/LOS ANGELES (Reuters) – Darden Restaurants Inc’s (DRI.N: Quote, Profile, Research, Stock Buzz) entire board was ousted in a meeting on Friday by activist Starboard Value LP in a rare victory for dissident investors.

The win is a feather in the cap for Starboard, one of Darden’s largest investors with an 8.8 percent stake. It is uncommon for activist investors to win more than a few spots on company boards.

Oct 8, 2014

Darden at risk of losing board control in proxy vote: analysts

By Lisa Baertlein

(Reuters) – Activist investor Starboard Value LP appears poised to gain control of Darden Restaurants Inc’s (DRI.N: Quote, Profile, Research, Stock Buzz) board at the company’s annual shareholder meeting on Friday, analysts said.

“I think it’s likely that Starboard will get a majority,” said B. Espen Eckbo, who founded the Lindenauer Center for Corporate Governance at Dartmouth College’s Tuck School of Business, echoing the sentiment of several Wall Street analysts who cover the company best known for its Olive Garden chain.

    • About Lisa

      "Lisa writes about restaurants and grocery stores. She is based in Los Angeles and previously has covered computer software, Internet companies, video games, prescription drugs and municipal bonds."
    • Follow Lisa