Tepper Says Tax Cuts were Too Steep and Likely Borrowed Economic Growth from the Future (CNBC)
Appaloosa Management‘s David Tepper said tax cuts were too steep and likely borrowed economic growth from the future. Tepper made the comments on CNBC’s “Halftime Report” on Wednesday. The billionaire’s $9 billion hedge fund holds stakes in Micron Technology, Facebook and Alibaba and added six new positions in the second quarter, including KeyCorp and Symantec.
Activist Hedge Fund Looks to Push Caesars into a Sale (BizJournals.com)
Just two months after wrapping up the $1.7 billion acquisition of Centaur Holdings, Caesars Entertainment now finds itself being targeted by an activist hedge fund. New York-based HG Vora Capital is looking to shake up the casino company and perhaps inspire a sale. According to multiple media reports, Parag Vora – who runs the hedge fund – has quietly built a small stake in Caesars with the hope that an auction, or asset sale, will soon be underway.
At Campbell Soup, Heirs Hold the Key as Activist Tries to Remake Board (The Wall Street Journal)
Activist investor Daniel Loeb is testing the cohesion of the family that has controlled Campbell Soup Co. for more than a century with his push to unseat the board and potentially sell the company. Mr. Loeb’s campaign to replace the soup maker’s board, announced last week, needs backing from descendants of John T. Dorrance, the inventor of Campbell’s condensed soup. The family holds at least 45% of the company’s stock.
Soros Fund Management LLC Raises Position in Comerica Incorporated (CMA) (FairFieldCurrent.com)
Soros Fund Management LLC increased its stake in shares of Comerica Incorporated (NYSE:CMA) by 35.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,503 shares of the financial services provider’s stock after buying an additional 84,334 shares during the period. Soros Fund Management LLC owned 0.19% of Comerica worth $29,322,000 at the end of the most recent quarter.