Nadia's Feed
Jul 5, 2013

BlackBerry investors to turn up the heat on management

TORONTO/NEW YORK (Reuters) – BlackBerry (BBRY.O: Quote, Profile, Research, Stock Buzz) will likely face tough questions about its future at its annual meeting on Tuesday after dismal quarterly results last week triggered a 28 percent plunge in the Canadian smartphone maker’s share price.

Sales of BlackBerry’s make-or-break new line of smartphones in the quarter ended June 1 came in well below analysts’ expectations and offered little evidence that the company can quickly win back market share from Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) iPhone, Samsung’s (005930.KS: Quote, Profile, Research, Stock Buzz) Galaxy devices, and other phones powered by Google Inc’s (GOOG.O: Quote, Profile, Research, Stock Buzz) Android operating system.

Jul 3, 2013

Exclusive: Francisco Partners plans GXS IPO after exploring sale

NEW YORK (Reuters) – Buyout firm Francisco Partners LP said on Wednesday that GXS Worldwide Inc, the provider of electronic commerce services it has majority control of, was planning an initial public offering after it explored an outright sale of the company.

“We are planning a refinancing of GXS and a subsequent IPO,” Francisco Partners said in a statement to Reuters. “We carried out a market check with JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) and although the valuations we received were reasonable, we did not think they were compelling for us to sell GXS at this moment.”

Jul 3, 2013

Francisco Partners plans GXS IPO after exploring sale

NEW YORK, July 3 (Reuters) – Buyout firm Francisco Partners
LP said on Wednesday that GXS Worldwide Inc, the provider of
electronic commerce services it has majority control of, was
planning an initial public offering after it explored an
outright sale of the company.

“We are planning a refinancing of GXS and a subsequent IPO,”
Francisco Partners said in a statement to Reuters. “We carried
out a market check with JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) and although
the valuations we received were reasonable, we did not think
they were compelling for us to sell GXS at this moment.”

Jun 26, 2013

Car-safety technology company DriveCam picks banks for IPO: sources

By Olivia Oran and Nadia Damouni

(Reuters) – DriveCam, a company that develops technology aimed at curbing driver errors, has selected banks for an initial public offering, according to three sources familiar with the matter.

The San Diego, California-based company has tapped Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz), Barclays PLC (BARC.L: Quote, Profile, Research, Stock Buzz) and Credit Suisse AG (MLPN.P: Quote, Profile, Research, Stock Buzz) to lead the deal, which is expected to come later this year, two of the sources said on Wednesday.

Jun 25, 2013

Exclusive: Men’s Wearhouse founder clashed with CEO, mulls comeback

By Nadia Damouni and Siddharth Cavale

(Reuters) – Tensions started rising at Men’s Wearhouse Inc (MW.N: Quote, Profile, Research, Stock Buzz) over the past six months, as founder and executive chairman George Zimmer increasingly butted heads with his handpicked CEO over the clothing retailer’s strategy.

CEO Doug Ewert wanted to sell the company’s K&G Fashion Superstore business, while Zimmer wanted to keep it, two sources familiar with the situation said. Zimmer also objected to rising compensation for top executives, including Ewert, while the board thought it was appropriate, the sources said.

Jun 25, 2013

Men’s Wearhouse founder clashed with CEO, mulls comeback

June 24 (Reuters) – Tensions started rising at Men’s
Wearhouse Inc over the past six months, as founder and
executive chairman George Zimmer increasingly butted heads with
his handpicked CEO over the clothing retailer’s strategy.

CEO Doug Ewert wanted to sell the company’s K&G Fashion
Superstore business, while Zimmer wanted to keep it, two sources
familiar with the situation said. Zimmer also objected to rising
compensation for top executives, including Ewert, while the
board thought it was appropriate, the sources said.

Jun 25, 2013

Exclusive: Men’s Wearhouse’s ousted founder ponders comeback

By Nadia Damouni and Siddharth Cavale

(Reuters) – Men’s Wearhouse Inc (MW.N: Quote, Profile, Research, Stock Buzz) founder and longtime commercial spokesman George Zimmer is pondering options that could include trying to stage a comeback after he quit the clothing company’s board on Monday, two people familiar with the matter said.

Zimmer, who was abruptly forced out last week as executive chairman, is talking to his advisers, including legal counsel Cooley LLP, about his options, these sources said. A decision is not imminent, the sources said.

Jun 25, 2013

Men’s Wearhouse’s ousted founder mulls possible comeback

June 24 (Reuters) – Men’s Wearhouse Inc founder and
longtime commercial spokesman George Zimmer is pondering options
that could include trying to stage a comeback after he quit the
clothing company’s board on Monday, two people familiar with the
matter said.

Zimmer, who was abruptly forced out last week as executive
chairman, is talking to his advisers, including legal counsel
Cooley LLP, about his options, these sources said. A decision is
not imminent, the sources said.

Jun 18, 2013

Starboard’s battle with Smithfield over China-deal adds to activist image

NEW YORK (Reuters) – Since Starboard Value LP was spun off as a separate hedge fund just over two years ago it has been fast gaining a reputation for aggressive shareholder activism, pushing for change in household names including AOL (AOL.N: Quote, Profile, Research, Stock Buzz) and Office Depot Inc (ODP.N: Quote, Profile, Research, Stock Buzz).

Initially investing in small cap value companies, Starboard quickly gained a reputation in Silicon Valley as a corporate raider, targeting mostly technology companies including Agilysys Inc (AGYS.O: Quote, Profile, Research, Stock Buzz), Openwave Systems and Extreme Networks Inc (EXTR.O: Quote, Profile, Research, Stock Buzz) among several others.

Jun 7, 2013

Exclusive: Icahn, Southeastern prepare Dell CEO shortlist – sources

NEW YORK (Reuters) – Carl Icahn and Southeastern Asset Management Inc are short-listing potential candidates to become the next Dell Inc (DELL.O: Quote, Profile, Research, Stock Buzz) chief executive should they succeed in a proxy battle against Michael Dell and Silver Lake Partners, two sources close to the matter told Reuters.

A number of high-profile industry executives have been identified as possible successors to the Dell founder, including: Cisco Systems Inc (CSCO.O: Quote, Profile, Research, Stock Buzz) director Michael Capellas, former IBM Corp (IBM.N: Quote, Profile, Research, Stock Buzz) services head Michael Daniels, Oracle Corp (ORCL.O: Quote, Profile, Research, Stock Buzz) President Mark Hurd and Hewlett-Packard Co (HPQ.N: Quote, Profile, Research, Stock Buzz) PC boss Todd Bradley, the sources said.