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News Breaks | | | | February 27, 2013 | | 14:18 EDT |  | CWH | CommonWealth REIT trading halted, single-stock circuit breaker
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News For CWH From The Last 14 Days Check below for free stories on CWH the last two weeks. |
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| May 15, 2013 | | 12:59 EDT | | CWH | Corvex, Related comment on result of CommonWealth annual meeting
 Subscribe for More Information | | | 09:04 EDT | | CWH | CommonWealth says Morea failed re-election as trustee, accepts appointment
CommonWealth REIT announced the results of its annual meeting, held yesterday. Joseph Morea received less than the majority of shares required to be re-elected as an Independent Trustee. As a result, Morea resigned from the Board. "The Board determined that the insufficient vote for Mr. Morea appeared not to be directed at any personal failings of Mr. Morea, but rather to be the result of the positions taken by the Board to oppose the hostile takeover efforts being pursued by Corvex Management LP and Related Fund Management, LLC. In these circumstances, and because the Board’s determination that Mr. Morea’s continued service and leadership would be in the Trust’s best interest, the Board requested that Mr. Morea accept appointment to the vacancy created by his resignation," the company said. Morea subsequently accepted appointment as an Independent Trustee. Shareholders also approved, with 75% of all shares voted, a nonbinding, advisory proposal approving the compensation paid to CWH’s named executive officers and approved, with 81% of all shares voted, the ratification of the appointment of Ernst & Young LLP as CWH’s independent registered public accounting firm. | | | May 8, 2013 | | 17:34 EDT |  | CWH | CommonWealth REIT's arbitration bylaw upheald by Maryland State Court
Subscribe for More Information | | | 15:59 EDT | | CWH | Judge backs arbitration in CommonWealth, Corvex dispute, Bloomberg reports
Subscribe for More Information | | | 15:28 EDT | | CWH | CommonWealth REIT trading halted, pending news
Subscribe for More Information | | | 07:11 EDT | | CWH | CommonWealth REIT reports Q1 normalized FFO 78c, consensus 73c
Subscribe for More Information | | | May 7, 2013 | | 15:23 EDT | | CWH | Sohn conference presentations likely to move stocks again
The Sohn Investment Conference is set to take place tomorrow in New York City. Among the notable presenters are David Einhorn, Bill Ackman, and Jeff Gundlach, each of whom presented a year ago. LOOKING BACK: A year ago, both Gundlach and Einhorn addressed Apple (AAPL) in their presentations, taking opposite sides of the trade. Gundlach said that he was short Apple, while Einhorn said he was long the stock. Gundlach reiterated his short position on Apple in a number of interviews during the year, including a prediction in January that Apple shares would reach $425 in the first quarter, a level the stock closed below on March 4. On April 29, Gundlach told CNBC he was no longer short Apple. Einhorn, meanwhile, filed a suit against the company in February in an effort to get it to distribute some of its cash hoard to investors. Earlier today, Einhorn said in an earnings conference call for Greenlight Capital that he has added to his Apple long position and praised the company's plan to return more capital to holders. Apple shares are down more than 19% over the last year, though shares have rallied more than 15% from their April lows. At last year's conference, Bill Ackman discussed his long position in J.C. Penney (JCP). Ackman, a member of Penney's board, said the company was going through with its in-store makeover strategy, led by then CEO Ron Johnson. J.C. Penney shares have slipped 50% over the last year, with Johnson leaving his CEO post on April 8. OTHER POSITIONS: Over the last year, both Einhorn and Gundlach have mentioned shorting Chipotle (CMG). In October, Einhorn recommended shorting Chipotle, saying Taco Bell (YUM) was a threat to the burrito chain. At a presentation last month, Gundlach said the idea of a gourmet burrito is an oxymoron. Shares of Chipotle are down more than 3% today ahead of tomorrow's conference, though neither investor has confirmed they hold short positions in its shares. In addition to his long position in J.C. Penney, Ackman has a high-profile short position in Herbalife (HLF), which he has called "a pyramid scheme." Ackman has been in a public spat with Carl Icahn over the company in which, according to Icahn's most recent SEC filings, he holds a better than 15% stake. Herbalife shares, which lost more than 39% following Ackman's initial presentation, are up slightly better than 1.5% since Ackman's initial comments. OTHER PRESENTERS: Investors will also be watching comments in any individual stocks from famed short-seller Jim Chanos, as well as comments from Kyle Bass, who has been outspokenly bearish on Japan. Also presenting is Paul Singer of Elliott Management, which is currently in a proxy fight with Hess (HES) in an effort to add five independent directors to the company's board. Keith Meister of Corvex Management, which along with Related Fund Management has been seeking change at CommonWealth REIT (CWH), is also set to take the stage. | | | May 6, 2013 | | 12:19 EDT |  | CWH | Options with increasing implied volatility: ALGN CVRR MBI CWH MELI
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