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W.R. Grace, GameStop See Activist Action

W.R. Grace (GRA)
40 North Management revealed a 14.9% interest in W.R. Grace, equal to 9,865,008 shares of the maker of specialty chemicals. On Nov. 9, 40 North offered to take W.R. Grace private for $60.00 cash per share. That offer was rejected by W.R. Grace’s board, and prompted 40 North to raise its bid to $65.00 per...
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Ralph Lauren Can Shine After a Tough 2020, Analyst Says

Ralph Lauren's Fifth Avenue Polo store in New York City.
Spencer Platt/Getty Images
Ralph Lauren is rising early Friday after an upgrade from RBC Capital Markets, which argues that the preppy fashion brand is “poised for outperformance into 2021.”
Analyst Kate Fitzsimons raised her rating on
Ralph Lauren
(RL) to the equivalent of Buy from the equivalent of Hold, and her target price to $138 from $77. She wrote that the move stems from her belief that Wall Street’s profit estimates will move higher, as leaner inventories, better expense management, and a pivot to direct-to-consumer sales enhance earnings. She expects Ralph Lauren will emerge from the Covid-19 pandemic stronger, less exposed to struggling retailers, and able to enjoy strong pent-up demand.

New-york , United-states , Teresa-rivas , Spencer-platt-getty , Ralph-lauren , Kate-fitzsimons , Ralph-polo , Fifth-avenue-polo , Getty-images , Wall-street , Clothing

Analyst Raises Price Targets on Cruise Stocks. Thing Is, They Already Trade Above Those Targets.

After making big gains of more than 35% in November following positive Covid vaccine news and developments, the cruise stocks have cooled off over the past month. In a research note Friday, Woronka attributed that turnaround “to multiple reasons, with perhaps the most important being a bit less optimism of late about the timing of a return to sailings out of U.S. ports.”
“It’s unlikely, in our view, that entire fleets will be back in the water much before year end,” he wrote. “The critical question is, at what point can enough capacity return such that current (elevated) cash burn levels can be reduced to more manageable levels that might not necessitate further capital raises?”

Norway , Miami , Florida , United-states , Norwegian , Lawrencec-strauss , Norwegian-cruise-line-holdings , A-deutsche-bank , Royal-caribbean-group , Royal-caribbean , Carnival-sunrise

Boeing and 10 Other Companies That Don't Have to Worry About Biden Raising Taxes

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The recovering economy should lift corporate profits this year. But that doesn’t mean companies will pay taxes on the gains, even with rates potentially going up under the Biden administration.
Generous tax breaks in the Cares Act, along with the heavy losses racked up by companies in 2020, may produce a tax shield for years. The higher the tax rate goes, the more companies could save.
The...
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The recovering economy should lift corporate profits this year.
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Space Stocks Are Rocketing Higher. What's Behind Their Big Moves.

VMware,
Pat Gelsinger, effective Feb. 15.
Since Swan took over in 2019, Intel has divested from non-core assets while making acquisitions that
strengthened its core business. But as
Barron’s notes, “Swan doesn’t have semiconductors in his DNA and is known as more of a software and finance executive than a man with deep technical expertise.”
Gelsinger, on the other hand, is
a prominent technical expert in the chip industry. He’s a trained engineer who has written a microprocessor programming book, holds several patents, helped create Wi-Fi technology and spent three decades at Intel earlier in his career.
“After careful consideration, the board concluded that now is the right time to make this leadership change to draw on Pat’s technology and engineering expertise during this critical period of transformation at Intel,” Intel chairman Omar Ishrak said in a statement.

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Why Coal Is Having a Strange Mini-Rebound Now

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Coal could gain share despite losing its greatest political champion—President Trump.
George Frey/Getty Images
Coal has been steadily dropping as a source of U.S. electricity generation over the past two decades. After peaking in 1998, the amount of coal produced in the country had fallen by 40% by 2019, and it dropped even more in 2020.
But the next two years could see a reversal. The U.S. government now expects coal to rise from 20% of electricity consumption in 2020 to 22% in 2021 and 24% in 2022.
What’s remarkable is that coal could gain share despite losing its greatest political champion—President Donald Trump. How could it suddenly be experiencing a mini-renaissance when it’s about to face much more stringent regulations?

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J&J Opposes Former Talc Supplier's Bankruptcy Plan to Resolve Cancer Claims

J&J Opposes Former Talc Supplierâs Bankruptcy Plan to Resolve Cancer Claims
Johnson & Johnson says Imerys Talc America let people with talc claims dictate their damages
Johnson & Johnson objects to the bankruptcy plan of Imerys Talc America, a former supplier of talc for Johnsonâs Baby Powder.
Photo:
lucas jackson/Reuters
By
Jan. 12, 2021 8:05 pm ET
Imerys SA is pressing ahead in an effort to get out from under lawsuits over its U.S. mining operation, Imerys Talc America Inc., over the protests of health-care company Johnson & Johnson .
The Imerys talc-mining business, which supplied talc for Johnsonâs Baby Powder, had been hit with lawsuits claiming the product caused cancer. It was placed into chapter 11 protection in 2019 and sold in 2020 for $223 million, with the proceeds earmarked for a trust to pay cancer claims. It is now trying to win court permission to seek creditor approval of its bankruptcy repayment plan.

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Intel CEO Bob Swan Steps Down

Intel Ousts CEO Bob Swan
VMware chief Pat Gelsinger named as successor after hedge fund Third Point called for sweeping change at the semiconductor giant
The tech battle between the U.S. and China has battered TikTok and Huawei and startled American companies that produce and sell in China. WSJ explains how Beijing is pouring money into high-tech chips as it wants to become self-sufficient. Video/Illustration: George Downs/The Wall Street Journal
By
Updated Jan. 13, 2021 4:25 pm ET
Intel Corp. ousted its chief executive in a surprise move that pivots the semiconductor giant closer to its engineering roots after a period of technology missteps, market-share losses and pressure from a hedge fund.

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Investors Dump VMware and Dell Shares as Intel Steals Away Pat Gelsinger

Intel
had snatched away
VMware
CEO Pat Gelsinger to replace Bob Swan and fix the troubled chip giant is weighing heavily on shares of both VMware and
Dell Technologies,
which has an 80.6% stake in the company.
Last year, Dell (ticker: DELL) confirmed press reports that it was considering spinning off its VMware stake to current Dell holders. In such a transaction, VMware (VMW) would likely pay a large cash dividend back to Dell that the PC maker would then use to reduce its substantial debt load.
Now, with VMware losing its iconic leader, there are concerns on Wall Street about VMware’s valuation. Keep in mind that the value of Dell’s stake in VMware is almost equal to Dell’s entire market capitalization.

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Pat Gelsinger Is the Right CEO to Address Intel's Many Issues

But Swan doesn’t have semiconductors in his DNA and is known as more of a software and finance executive than a man with deep technical expertise. He may have been given the CEO job, but it should have been clear from the outset he was never going to carry the company for the length of time of some of his predecessors.
Under Swan’s leadership,
Barron’s took a positive view of Intel stock in November, arguing that despite its troubles, the company would rise again. Wednesday’s decision was yet another step forward, arriving weeks after Daniel Loeb’s activist hedge fund, Third Point, took a $1 billion stake in the company and demanded many of the changes other investors had long pushed for. Shares have advanced 26% since

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