Yun Li / CNBC:
Salesforce stock is up 6%+ pre-market after activist investor Starboard reveals a “significant” stake; shares of Salesforce have fallen more than 40% in 2022 — Follow your favorite stocksCREATE FREE ACCOUNT — Jeffrey Smith, CEO of Starboard Value LP and Chairman of Papa John’s International Inc.
Svea Herbst-Bayliss / Reuters:
Filing: Starboard Value has built a 9% stake in Wix, which has been struggling with losses since Q4 2021 and has adopted a three-year cost-cutting program — Starboard Value LP has built a 9% stake in website development platform Wix.com Ltd (WIX.O), the activist hedge fund disclosed in a regulatory filing on Friday.
Miles Kruppa / Wall Street Journal:
Activist investor TCI, which has a $6B+ stake in Alphabet, calls on the company to aggressively reduce headcount and cut costs in long-term bets such as Waymo — Hedge fund says company would be more efficient with fewer employees — Activist hedge fund TCI Fund Management called …
Sarah E. Needleman / Wall Street Journal:
Pinterest adds Elliott Management’s Marc Steinberg to its board as part of an agreement with the activist investor; Elliott has a stake of over 9% in Pinterest — Activist investor has also entered into a long-term agreement to help the social-media company grow
Anton Wilen / Bloomberg:
SoftBank, which bought a 10% stake in Twilio competitor Sinch in November 2020, sells its remaining 5% stake; Sinch’s stock has fallen 93% since September 2021 — Japanese investor SoftBank Group Corp has sold its entire stake in Sinch AB following a share price collapse of more than 90% in the Swedish cloud-based platform provider.
Sarah Whitten / CNBC:
Netflix Q3: revenue of $7.9B, up 5.9% YoY, net income of $1.4B, down from $1.45B YoY, global paid net additions of 2.4M subs, vs. 1.09M est.; stock up ~11% — Follow your favorite stocksCREATE FREE ACCOUNT — Netflix shares skyrocketed more than 10% after the bell Tuesday …
Tanaya Macheel / CNBC:
Coin Metrics: on Tuesday, bitcoin fell 12.6% to $18,203 and briefly hit $17,300.80, its lowest level since November 2020; ether dropped 18.2% to $1,311.50 — Follow your favorite stocksCREATE FREE ACCOUNT — WATCH NOW — FTX token plunges as Binance steps in to buy the crypto exchange’s non-U.S. unit: CNBC Crypto World
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