Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
Just days after announcing a substantial new position in the restaurant chain operator Buffalo Wild Wings, the hedge fund Marcato Capital Management plans to announce a new 5.1 percent position in the crane maker Terex, according to someone familiar with the matter.
Shares of Terex jumped more than 4 percent to around $24 on CNBC's televised report of the stake. Shares were very briefly halted after the report but resumed trading almost immediately.
That stake, which could be announced as early as Thursday afternoon, is based on Marcato's belief that Terex is worth more than its current price — and that selling certain parts of its industrial business and streamlining others through restructuring, cost savings, and other measures could improve margins substantially, this person added.
Marcato thinks highly of Terex's current chief, John Garrison Jr., the person said, a fact that could ease discussions between the hedge fund and the company.
Terex has been in the news of late thanks to two cross-border acquisition attempts, one by the Finnish competitors Konecranes and a second by the Chinese equipment manufacturer Zoomlion, both of which ultimately fell apart.
"We welcome Marcato as a shareholder and appreciate their confidence in our business and management," a Terex official told CNBC. "We look forward to listening to ideas that could help improve our company and enhance shareholder value."
Marcato, which manages some $1.5 billion from its San Francisco headquarters, is run by Mick McGuire, a former protégé of the activist investor Bill Ackman.