Eddie Lampert is Seeking to Sell Sears Assets to his Hedge Fund – This will be Bad for Sears (Verdict.co.uk)
In wanting to sell Sears’ assets to his investment vehicle ESL, chief executive Eddie Lampert is tacitly admitting his tenure has been a failure. Sears Holding Corporation has been in decline for a long time. So far, Sears CEO Eddie Lampert has resisted all calls to step down, or to transform his approach to running the company. The decision to sell the most lucrative assets, including appliance brand Kenmore to ESL Investments, a hedge fund controlled by Lampert, to raise capital is a tacit admission of failure. The much criticized hedge fund billionaire is seeking to sell the assets from his own company to his own hedge fund.
Paul Singer’s Elliott Management Wins Bitter Battle for Control of Telecom Italia (CNBC)
Telecom Italia’s shareholders have voted to form a new board, ending a bitter battle for control between activist investor Elliott Management and French conglomerate Vivendi. Elliott Management, an activist fund run by its billionaire founder Paul Singer, won the vote securing two-thirds of seats on Telecom Italia’s board. Elliott had accused Vivendi of failing shareholder interest in Italy’s biggest phone company and subsequently forced Friday’s vote over the company’s stewardship. Telecom Italia shares rose sharply on the news on Friday afternoon.
Warren Buffett’s Investing Success Boils Down to 3 Key Characteristics that May be Genetically Determined (Business Insider)
Warren Buffett is one of the most successful investors ever, using an approach known as value investing. Value investing is essentially the opposite of speculative investments, such as bitcoin. There are three essential characteristics needed to succeed as a value investor: patience, discipline, and risk aversion. Warren Buffett loves a good deal. In fact, his propensity for value spills over into many areas of his life, from his phone to his investment portfolio. And it’s done more than just save him a few dollars here and there – it’s helped him amass billions.
Four Found Guilty in Insider Trading Case Linked to U.S. Health Agency (Reuters)
NEW YORK (Reuters) – Two partners at the hedge fund Deerfield Management and two others were found guilty on Thursday of charges stemming from what prosecutors have described as an insider trading scheme based on leaks from within a federal healthcare agency. Rob Olan and Ted Huber, partners at Deerfield Management who are on leave, were convicted of counts including wire fraud, securities fraud and conversion of government property, as was David Blaszczak, founder of political consulting firm Precipio Health Strategies. Christopher Worrall, who worked for the U.S. Centers for Medicare and Medicaid Services (CMS), was also convicted of wire fraud and conversion of government property, but acquitted of securities fraud.
Insider Selling: Limelight Networks (LLNW) Director Sells 52,500 Shares of Stock (StockNewsTimes.com)
Limelight Networks, Inc. (NASDAQ:LLNW) Director Jeffrey T. Fisher sold 52,500 shares of the stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $4.96, for a total value of $260,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: The New York Times Company (NYT) Insider Sells 132,000 Shares of Stock (LedgerGazette.com)
The New York Times Company (NYSE:NYT) insider Carso S.A. De C.V. Inversora sold 132,000 shares of the stock in a transaction dated Wednesday, April 25th. The shares were sold at an average price of $22.50, for a total value of $2,970,000.00. Following the sale, the insider now owns 15,611,175 shares of the company’s stock, valued at $351,251,437.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Insider Selling: Spectrum Pharmaceuticals (SPPI) Director Sells $1,478,700.00 in Stock (RegistrarJournal.com)
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Director Rajesh C. Md Shrotriya sold 90,000 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $16.43, for a total transaction of $1,478,700.00. Following the completion of the sale, the director now owns 200,652 shares in the company, valued at $3,296,712.36. The transaction was disclosed in a document filed with the SEC.
Insider Buying: Safety (SAFE) Insider Acquires $199,354.84 in Stock (MaconDaily.com)
Safety Income & Growth Inc (NYSE:SAFE) insider Marcos Alvarado purchased 10,811 shares of the firm’s stock in a transaction on Monday, April 30th. The shares were purchased at an average cost of $18.44 per share, with a total value of $199,354.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Buying: Carbo Ceramics, Inc. (CRR) Insider Acquires $84,900.00 in Stock (WeekHerald)
Carbo Ceramics, Inc. (NYSE:CRR) insider Gary A. Kolstad bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were acquired at an average price of $8.49 per share, with a total value of $84,900.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Insider Buying: Meridian Bancorp (EBSB) EVP Buys $270,780.25 in Stock (WeekHerald.com)
Meridian Bancorp (NASDAQ:EBSB) EVP Frank Romano purchased 14,365 shares of the business’s stock in a transaction dated Friday, April 27th. The shares were purchased at an average price of $18.85 per share, with a total value of $270,780.25. The acquisition was disclosed in a legal filing with the SEC.