Latest news with #StarboardValue
Yahoo
6 days ago
- Business
- Yahoo
Autodesk's Stock Climbs Following Report It's No Longer Looking to Buy PTC
Autodesk shares rose Monday following a report the company is no longer looking to purchase rival design software maker PTC. Autodesk said in a regulatory filing that it would remain focused on "targeted and tuck-in acquisitions," and didn't name PTC. A report last week indicated Autodesk was in discussions with advisers about possibly buying (ADSK) shares surged Monday following a report the company is no longer looking to purchase rival design software maker PTC (PTC). The stock was up close to 6% in recent trading, while PTC shares fell 2%. Bloomberg reported that it was likely Autodesk backed down because of the price, financial constraints, and opposition from activist investor Starboard Value, which it noted took a stake in the company earlier this year and pushed for changes. Autodesk wrote in a regulatory filing that it would remain focused on its strategy, including 'targeted and tuck-in acquisitions.' It did not directly mention PTC. Last Thursday, Autodesk shares slumped and PTC shares jumped on a report Autodesk was talking with advisers to evaluate a possible cash-and-stock purchase of PTC. Autodesk shares are roughly flat for 2025 so far, while PTC shares are close to 3% higher. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Skift
07-07-2025
- Business
- Skift
What's Next for Tripadvisor Now That it Has an Activist Investor?
An activist investor might be just what Tripadvisor needs now that its corporate structure has changed. Analysts have plenty of ideas on what that investor might advocate for, although so far Starboard Value hasn't publicly discussed a game plan. Sell Viator and/or TheFork? Change Tripadvisor's name to Viator? Repurchase shares? Speed up the monetization of Tripadvisor's user reviews in the AI era? These are among the strategy options that an array of analysts discussed following the news that Starboard Value, an activist investor, took at 9% stake in Tripadvisor. Starboard said in a financial filing that it believes Tripadvisor's shares were undervalued, but it has not stated publicly what, if any, changes it might pressure the company to make in discussions with management. Starboard did not respond to requests for comment. Tripadvisor said in a statement to Skift: "We value constructive engagement with all of our shareholders and appreciate their feedback as we continue to grow our business as the world's most trusted source for travel and experiences. The Tripadvisor Board of Directors and management team are committed to driving long-term value for our shareholders." What Is Viator Worth? In a view backed by several analysts, Morningstar's Dan Wasiolek wrote in an investor note that Starboard could push Tripadvisor to sell its experiences brand, Viator, which generated 46% of Tripadvisor revenue in 2024. V
Yahoo
05-07-2025
- Business
- Yahoo
Trending tickers: latest investor updates on TripAdvisor, Bitmine, WolfSpeed, BYD and AstraZeneca
Shares in TripAdvisor (TRIP) were in the red in after hours trading after surging by 16% in Thursday's session as it was revealed by the Wall Street Journal that activist investor Starboard Value has built a 9% stake in the online travel-review company. Starboard Value, an investment firm run by Jeff Smith, has a stake valued at around $160m (£117m), which would make it one of the top shareholders in the company. Tripadvisor (TRIP) shares have been flat since the start of the year after plunging more than 30% in 2024. Last year, the travel review and booking company said it created a special committee to explore potential options. Read more: FTSE 100 LIVE: Markets down as Trump's controversial tax bill passes, tariff worries persist Starboard Value has gained a reputation for pushing for changes such as new CEOs and cost cuts by acquiring significant shares in companies. The firm has pushed for changes at pharmaceutical company Pfizer (PFE) and design-software maker Autodesk (ADSK). Bitcoin miner Bitmine (BMNR) lost over 10% in after hours trading after surging by 130% in the previous session as it revealed a $250m private placement offering to fund an Ethereum (ETH-USD) treasury strategy. Thomas Lee, chairman of Bitmine (BMNR), said that stablecoins are 'the 'ChatGPT' of crypto' and that he expects ether (ETH-USD) to appreciate thanks to their adoption. 'Ethereum is the blockchain where the majority of stablecoin payments are transacted […] and thus, ETH should benefit from this growth,' he said. Until this month, the firm's treasury strategy focused on accumulating bitcoin (BTC-USD). News that Wall Street strategist Tom Lee is joining Bitmine (BMNR) in a push to make Ethereum's ether (ETH-USD) token central to Bitmine's crypto holdings has helped kick off a massive rally for the stock. The company's share price is up roughly 2,450% over the last week. Shares in Wolfspeed (WOLF) fell in after hours trading on Friday, pulling back after a surge of more than 50% following the semiconductor company's unexpected Chapter 11 bankruptcy filing, a move that is typically interpreted as a sign of financial distress. The market reaction stood in stark contrast to the usual response to insolvency announcements. Analysts said the sharp rally likely reflected a combination of speculative interest and investor optimism over the company's restructuring plan. Rather than signalling a collapse, Wolfspeed's (WOLF) bankruptcy filing is being framed by management as a strategic reset. The creditor-backed plan will reduce the company's debt by $4.6bn and cut annual interest expenses by 60%, according to the firm. Read more: The most popular stocks and funds investors bought in June With over 97% of senior secured noteholders already on board, Wolfspeed (WOLF) said it expects to emerge from bankruptcy by the end of the third quarter with $1.3bn in liquidity to support its operations. Investors are betting that the leaner capital structure will allow the NYSE-listed group to refocus on its core silicon carbide business, a key component in electric vehicles and next-generation power electronics, and eventually restore its competitive position in the market. Shares in BYD (BYD) slipped in Hong Kong trading on Friday, as investors digested reports that Beijing may be preparing to intervene in the intensifying price war that has gripped China's electric vehicle (EV) sector. The world's largest EV maker reported a 31% increase in sales for the first half of the year, delivering 2.1 million vehicles, according to a filing with the Hong Kong Stock Exchange. Nearly half of those were pure electric models, with the remainder made up of plug-in hybrids. The company stopped producing internal combustion engine vehicles in 2022. Despite the strong headline figures, pressure on margins has grown. BYD (BYD) came under criticism in late May after launching another round of price cuts, prompting several rivals to follow suit. In a thinly veiled rebuke, the chairman of Great Wall Motors warned that the sector 'could come under threat if it continues on the same trajectory'. Read more: Key investing trends in June, from defence stocks to Tesla's sales slump The China Association of Automobile Manufacturers has also weighed in, urging fair competition and healthy development of the industry, and noting that major discounts by a single automaker had triggered a new price war panic. Investors appeared to interpret the comments as a signal that authorities may take a more active role in calming the market, potentially through new regulation or coordinated guidance. Shares in AstraZeneca (AZN.L) edged lower in London on Friday, despite the drugmaker securing a significant regulatory milestone for its cancer portfolio. The European Commission has approved Imfinzi for use before and after surgery in patients with muscle-invasive bladder cancer, making it the first immunotherapy cleared for this indication in Europe. The approval follows clinical trial results showing the drug reduced the risk of recurrence by 32% and cut the risk of death by 25%. After two years, 82% of patients treated with Imfinzi were still alive. Michiel Van der Heijden, who led the research, said this approach could be a game changer, as nearly half of patients normally see their cancer return even after chemo and surgery. Despite the positive data, AstraZeneca (AZN.L) shares have come under pressure in recent days amid reports that chief executive Pascal Soriot has privately floated the idea of relocating the company's headquarters to the US. AstraZeneca, the UK's most valuable listed company, has long criticised the domestic investment climate. In January, it scrapped plans to invest £450m in a vaccine manufacturing facility in northern England, citing a reduction in government support. A move to shift its primary listing overseas would be a fresh blow to the London Stock Exchange (LSEG.L), which has struggled to retain several high-profile companies in the face of transatlantic valuation gaps. This Friday, US markets are closed for the Independence Day holiday.
Business Insider
03-07-2025
- Business
- Business Insider
BTIG says Starboard sees Tripadvisor shares as undervalued
BTIG noted that he see's three potential outcomes after Starboard Value disclosed a 9% stake in Tripadvisor (TRIP). The analyst told investors that Starboard could utilize the company's content to lean-in on AI trip planning, expand on memberships efforts while avoiding the prior pitfalls with earlier iterations of a subscription product and explore on-platform bookings to improve monetization, but revamp versus past failed efforts. The firm added that there is no visibility on TripAdvisor's plans to explore strategic alternatives. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Yahoo
03-07-2025
- Business
- Yahoo
Starboard Is Betting Big on Tripadvisor Stock. Should You?
Tripadvisor (TRIP) shares closed nearly 17% up on Thursday after Starboard Value announced a $160 million or 9% stake in the global travel platform, which it said was 'undervalued' at current levels. The activist investor hasn't yet disclosed its plans for the firm, but its track record of successfully restructuring consumer-facing companies is already rekindling interest in TRIP shares. Michael Saylor Says 'You'll Wish You'd Bought More' Bitcoin as MicroStrategy Doubles Down Wolfspeed Is Surging After Filing for Bankruptcy. Is It Too Late to Touch WOLF Stock Here? Is Microsoft Stock About to Go Nuclear? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Despite today's rally, Tripadvisor stock is down some 6% versus its year-to-date high in February. Starboard's stake could prove meaningfully positive for TRIP shares because the activist investor's standard playbook features pushing for operational improvements, cost discipline, and improved execution. With these initiatives, the activist firm could help Tripadvisor's flagship brand reclaim some of its lost ground in the second half of 2025 – following an 8% decline in revenue last year. Meanwhile, Starboard could accelerate monetization of the company's fast-growing units (Viator and TheFork) to boost shareholder value as well. Simply put, the activist firm's presence could lead to intense scrutiny of Tripadvisor's operations and a push for tangible actions to unlock hidden value in the underperforming travel services firm. In late June, Bernstein analysts also cited 'undervaluation' as they recommended loading up on TRIP stock at current levels. According to the investment firm, the company's recent merger with Liberty Tripadvisor Holding removed a complex dual-share setup – effectively streamlining governance and making the firm more attractive to institutional investors and potential acquirers. The 2024 transaction sparked interest from multiple parties, with some bids reportedly reaching as high as $30 per share. Bernstein reiterated its 'Buy' rating on Tripadvisor shares last week with a price objective of $20 indicating potential upside of another 15% from here. Other Wall Street firms, however, are not nearly as positive on Tripadvisor stock despite perceived undervaluation. According to Barchart, the consensus rating on TRIP shares currently sits at 'Hold' only with the mean target of about $17 indicating potential 'downside' of some 3% from current levels. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
