Tribune Publishing Creates Team to Review Alden’s Buyout Offer (The Wall Street Journal)
Tribune Publishing Co. said it appointed a special committee to review a buyout bid proposed by its largest shareholder, New York hedge fund Alden Global Capital LLC. Alden, which already owns a 32% stake, said Thursday it was interested in acquiring the rest of the publishing company for $14.25 a share, valuing Tribune at $521 million. The Wall Street Journal first reported Alden’s plans late Wednesday. The offer drove Tribune’s stock up 7.1% on Thursday to $13.70.
GAN Stock Among Hedge Fund Manager Niles Top 5 Picks for 2021 (Casino.org)
Recently resurgent GAN Ltd. (NASDAQ:GAN) is getting more fuel for its rebound, as a well-known hedge fund manager named the gaming technology provider as one of his top five ideas for 2021. Dan Niles, a founding partner at AlphaOne Capital Partners, is bullish on UK-based GAN for the new year despite some struggles for shares of the newly public company. GAN went public in early May, one of a slew of gaming companies to debut as listed entities this year. But over the past six months, the stock is lower by 26 percent. Still, the hedge fund manager likes the set up on the name entering 2021.
There’s Reason to Be Hopeful About Intel Stock in 2021. Here’s Why. (Barron’s)
After a tough year, Intel executives received one last 2020 surprise. It came in the form of a sharply worded letter this past week from activist investor Daniel Loeb. Loeb, CEO of hedge fund Third Point, laid out the need for change at the once pioneering chip maker. And he encapsulated the question many on Wall Street and in Silicon Valley have been asking for more than a year now: How did once-dominant Intel (ticker: INTC) so clearly lose its way?
Janet Yellen has Made at Least $7m from Speaking Fees, Records Show (The Guardian)
The incoming US Treasury secretary, Janet Yellen, has been paid at least $7m (£5.1m) for speaking engagements at government-regulated banks, consultancies and hedge funds over the past two years, according to newly disclosed documents. The former Federal Reserve chair disclosed a list of more than 50 paid speaking events for financial firms that included $67,500 from Goldman Sachs, $54,000 from an event at Barclays and $292,500 from a single speech for hedge fund Citadel.
Billionaire ‘Bond King’ Jeff Gundlach Said Stocks will Crash, Predicted a Weaker Dollar, and Questioned Bitcoin in a Recent Interview. Here are the 10 Best Quotes (Business Insider)
Jeff Gundlach, the billionaire investor known as the “Bond King,” predicted in a RealVision interview in October that stocks would crash in less than 18 months. The DoubleLine Capital CEO also said the US dollar would dive in the long run, argued that tech stocks like Apple and Amazon were the only US equities worth owning, and questioned bitcoin, welfare, and Chipotle’s valuation. Here are Gundlach’s 10 best quotes from the discussion.