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News For HPQ;AIG;WBMD;ARUN;FIRE;MMSI;FRO From The Last 14 Days
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November 23, 2015
09:09 EDTAIGIcahn to commence AIG consent solicitation, may seek board representation
Carl Icahn, who identifies himself as one of AIG's largest shareholders that currently owns over 42M shares, noted he wrote a public letter to the CEO of AIG on October 28 suggesting that the company is "Too Big To Succeed" and should accelerate cost cutting and separate into three public companies to shrink below the threshold for systemically important financial institutions. "Since we released that letter, many large institutional shareholders and analysts have contacted us and expressed their support for our views. We have also met and had a number of conversations with AIG CEO Peter Hancock, and he has invited us to continue having conversations. However, despite that invitation, in all of our discussions with Mr. Hancock it was abundantly clear to us that he is not willing to take the bold steps that we, and so many other shareholders, believe are long overdue. In addition, in those conversations he failed to lay out any alternative strategic plan with the potential to unlock value for shareholders or to provide compelling reasons as to why these businesses belong together," Icahn wrote in a new statement released via his website. Icahn went on to say: "While we plan to accept Mr. Hancock's offer to continue having discussions and meetings with AIG, we do not believe that he will ever sincerely consider what we, and so many others, have proposed. Nor do we believe that the AIG board of directors will respond to the demands of AIG shareholders absent a clear mandate. As a result, we intend to commence shortly a consent solicitation that will enable shareholders to express their views directly to the board, which may include a proposal to add a new director who would agree in advance to succeed Mr. Hancock as CEO if asked by the board to do so. We thank our fellow shareholders for their continued support and look forward to sharing the details of our consent solicitation over the next few weeks."
09:07 EDTAIGIcahn to commence AIG consent solicitation, may seek board representation
08:58 EDTHPQHP Inc. upgraded to Buy, price target raised to $17 at Maxim
As reported previously, Maxim analyst Nehal Chokshi upgraded HP Inc. to Buy from Hold, saying there is room for HP to raise its rate of free cash flow return to about 90% from between 50%-75% now. The analyst also sees potential for HP printing supplies to experience a temporary break amid a secular decline, chances for HP to successfully penetrate the multi-function copier market, and for its PC operating margins to expand. Chokshi raised his price target on HP shares to $17 from $14.50.
08:22 EDTHPQHP Inc. volatility elevated into Q4 and outlook
HP Inc. November weekly call option implied volatility is at 52, December is at 34, January is at 31 compared to its 2-week range of 18 to 41, suggesting large near term price movement into the expected release of Q4 results on November 24.
07:27 EDTHPQHP Inc. upgraded to Buy from Hold at Maxim
06:09 EDTHPQHP Inc. adds Titan to Engineered by HP Program
HP Inc. announced the expansion of its Engineered by HP program, collaborating with the world's fifth largest watchmaker, Titan, to infuse technology seamlessly into the way consumers live, providing them with smart accessories that are productive and responsive, but not intrusive.
November 19, 2015
09:00 EDTHPQ, ARUNAerohive sell-off unwarranted, says JMP Securities
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November 18, 2015
15:24 EDTAIGIcahn says had 'constructive' meeting with AIG CEO last week, Reuters reports
Carl Icahn says still long AIG, reiterates call for break-up, Reuters reports, citing comments made by the investor at the news service's summit.
06:50 EDTAIGAIG CEO opposes split but open to divestitures, WSJ says
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November 16, 2015
18:03 EDTAIGAIG amends by-laws to implement proxy access
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17:16 EDTAIGIcahn liquidated eBay stake, took Paypal stake
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09:01 EDTMMSIBarclays to hold a conference
MedTech/Tools SMID Cap Day is being held in New York on November 16.
November 13, 2015
17:04 EDTAIGThird Point gives quarterly update on stakes
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07:10 EDTFROFrontline terminates charter-in contract with Ship Finance
Frontline (FRO) has agreed with Ship Finance (SFL) to terminate the long term charter for the 1998 built Suezmax tanker Mindanao. Ship Finance has simultaneously sold the vessel to an unrelated third party. The charter with Ship Finance is expected to terminate in the fourth quarter of 2015. Frontline will receive a compensation payment of approximately $3.3M from Ship Finance for the termination of the current charter. Following this termination, the number of vessels on charter from Ship Finance will be reduced to 14 vessels, including 12 VLCCs and two Suezmax tankers.
07:07 EDTFROShip Finance to sell Suezmax tanker
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07:07 EDTFROShip Finance to sell Suezmax tanker
Ship Finance International (SFL) announced that it has agreed to sell the 1998 built Suezmax tanker Mindanao to an unrelated third party. The company has simultaneously agreed to terminate the corresponding charter party for the 17-year old crude oil carrier with a subsidiary of Frontline (FRO). The vessel is expected to be delivered to its new owner in December. Net cash proceeds will be approximately $17.9M, after a compensation of approximately $3.3M to Frontline for the early termination of the charter. Divesting of older vessels is a part of the company's strategy to renew and diversify the fleet, and the proceeds are expected to be reinvested in new assets. Following this sale, the number of vessels on charter to Frontline will be reduced to 14 vessels, comprising of 12 VLCCs and two Suezmax crude oil carriers.
November 12, 2015
08:32 EDTHPQHP Inc. declares post-split regular dividend of 12.4c per share
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November 11, 2015
09:09 EDTHPQHP's Marten Mickos leaves to head HackerOne
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07:01 EDTAIGAIG breakup would not solve problems, says Deutsche Bank
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