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Nasdaq-listed Cognizants shares surged last week on speculation of the return of an activist shareholder. For CEO Ravi Kumar, there could not be worse news. This is not the first time an activist has taken a shot at Cognizant. In 2016, Elliott Management, which owned 4% stake in Cognizant, attempted to influence the companys strategy before exiting in 2018.
Starbucks' recent missteps and stock plunge may make it an activist target in the near future, as questions arise about a potential move by activists.
The filing comes after Flutter listed its shares on the New York Stock Exchange in January, and ahead of a move in its primary listing to the U.S. on May 31.
India Business News: Cognizant's stock surged on Nasdaq as speculation of an activist investor's return grows. Nomura Holdings acquired a significant stake, becoming a maj
These names have seen big drops in what analysts expect them to report for earnings.