The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Tilman Fertitta told CNBC on Monday that he is doing things in a "very conservative way" amid fears of a recession.Marketsread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC on Monday.Marketsread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Stasior left Apple earlier this year. Prior to his time in charge of Siri, he was a top executive at Amazon.Technologyread more
Starboard Value CEO Jeffrey Smith announced Tuesday that the firm has a stake in $7 billion automobile auction house KAR Auction Services.
Shares of KAR rose more than 3% after the latest reveal from the Starboard chief. Starboard did not disclose the size of its stake in the company.
Smith stressed the importance of the planned spinoff of the Insurance Auto Auctions business from KAR Auction Services as a key value catalyst not yet appreciated by the market. Smith unveiled the new investment from 13D Monitor's 2019 Active-Passive Investor Summit in New York.
KAR announced in 2018 that it would be separating into two public companies, with IAA being one of them. IAA, which claims a sizable market share in the salvage auction services industry, typically auctions cars that are totaled or have very high mileage.
Smith also recommended medical record company Cerner, where Starboard reached a settlement last week.
Cerner announced April 9 that it will add new directors to its board and repurchase more stock after its conversations with Starboard, sending the stock up about 10% during that session. It also said that it would double down on operational performance and that it hired consulting firm AlixPartners to meet those goals.
Activist investors often build positions in what they view as undervalued companies with the goal of advocating for key changes they suspect will drive shareholder value. Those proposed changes can differ depending on the activist and targeted company, ranging from management replacement and board seats to merger proposals.