Short & distort? The ugly war between CEOs and activist critics

Short & distort? The ugly war between CEOs and activist critics
NEW YORK (Reuters) – On the morning of July 11, Paul Pittman was on a corn farm in Western Illinois, unaware his company had taken a devastating hit. Joshua Mitts, Associate Professor of Law at Columbia University in New York City, is seen in this undated photo released from New York, NY, U.S., March 8, 2019. Courtesy Sam Hollenshead/Columbia Law... Read More

Exclusive: Sanofi says working on CEO succession plan

Exclusive: Sanofi says working on CEO succession plan
PARIS (Reuters) – Pharmaceuticals group Sanofi is working on a plan to find a new CEO in agreement and consultation with current chief executive Olivier Brandicourt, a spokesman for the French drugmaker told Reuters on Monday. FILE PHOTO: The logo of Sanofi is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau... Read More

Mutual funds start to put their mouth where their money is

Mutual funds start to put their mouth where their money is
(Reuters) – Corporate America’s biggest shareholders have traditionally been content with sharing their views on a company’s strategy privately with management. FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured at the headquarters in Le Passage, near Agen, France March 29, 2018. REUTERS/Regis Duvignau/File Photo But now some mutual funds are beginning to rethink their stance, amid pressure... Read More

GE forecasts 2019 profit below estimates, shares fall

GE forecasts 2019 profit below estimates, shares fall
FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the company’s site of its energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler/File Photo (Reuters) – General Electric Co forecast adjusted earnings of 50 cents to 60 cents per share for 2019, below analysts’ expectations of around 70 cents, as new Chief Executive Larry Culp plows... Read More

What General Electric investors want from CEO on Thursday

What General Electric investors want from CEO on Thursday
NEW YORK (Reuters) – Portfolio manager Michael Kon began buying General Electric Co shares about a year ago and got more last fall after GE Chief Executive Larry Culp outlined plans to reboot the ailing power-plant unit. The logo of U.S. conglomerate General Electric is pictured at the company’s site of its energy branch in Belfort, France, February 5, 2019.... Read More

What General Electric investors want from CEO on Thursday: Clarity

What General Electric investors want from CEO on Thursday: Clarity
NEW YORK (Reuters) – Portfolio manager Michael Kon began buying General Electric Co shares about a year ago and got more last fall after GE Chief Executive Larry Culp outlined plans to reboot the ailing power-plant unit. The logo of U.S. conglomerate General Electric is pictured at the company’s site of its energy branch in Belfort, France, February 5, 2019.... Read More

Wall Street rises; Boeing up despite U.S. grounding of 737 MAX jets

Wall Street rises; Boeing up despite U.S. grounding of 737 MAX jets
NEW YORK (Reuters) – U.S. stocks rose on Wednesday, led by gains in healthcare shares, and Boeing edged upward even as the United States joined other nations in grounding the company’s 737 MAX jets. A trader works on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 13, 2019. REUTERS/Brendan McDermid Boeing Co shares ended... Read More

Purdue Pharma CEO says company considering bankruptcy: Washington Post

Purdue Pharma CEO says company considering bankruptcy: Washington Post
FILE PHOTO: Bottles of prescription painkiller OxyContin made by Purdue Pharma LP sit on a shelf at a local pharmacy in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey (Reuters) – Purdue Pharma’s Chief Executive Officer Craig Landau said the company is considering bankruptcy, the Washington Post reported on Wednesday, as the OxyContin maker faces a slew of lawsuits alleging... Read More

Insys Therapeutics’ auditor raises going concern doubts, shares drop

Insys Therapeutics’ auditor raises going concern doubts, shares drop
FILE PHOTO: Pharmaceutical tablets and capsules are arranged on a table in this picture illustration taken in Ljubljana August 20, 2014. REUTERS/Srdjan Zivulovic (Reuters) – Insys Therapeutics Inc said on Wednesday its auditor raised doubts on the drugmaker’s ability to continue as a going concern, sending its shares down 13 percent. The Arizona-based company said the auditor’s opinion on the... Read More