- GRIT
- Posts
- Peltz Ditches Disney
Good Morning!
Happy Thursday! It is almost Friday:
👉 Nelson Peltz sells Disney stock
👉 Salesforce earnings are in
👉BHP abandons bid
DISNEY: Nelson Peltz Out
Activist investor Nelson Peltz has sold his entire stake in Disney. Peltz sold his shares at around $120 each, making about $1 billion. Currently, Disney shares trade at about $100 each. This sale comes after Peltz’s Trian Partners lost a proxy battle in April, where shareholders re-elected Disney's board. Peltz had tried to join the board and wanted to bring change to the company.
Source: CNBC
Peltz had frequently criticized Disney's governance. In October, he increased his stake to around 30 million shares and revived his proxy campaign. He became an activist and targeted Disney’s streaming strategy and a failed succession plan for CEO Bob Iger.
🎯 GRIT TAKE: Each time we do a Grit Take…upgrade to VIP now to read the full GRIT Take!
EARNINGS: Salesforce
Salesforce shares fell by almost ~20% in post-market trading after reporting lower-than-expected revenue and guidance. For the current quarter, Salesforce expects earnings of $2.34 per share on $9.2 billion to $9.25 billion in revenue. Analysts expected $2.40 per share on $9.37 billion.
Source: Bloomberg
Revenue for the fiscal first quarter increased 11% to $8.25 billion, marking the first miss since 2006. Net income rose to $1.53 billion, or $1.56 per share, from $199 million, or 20 cents per share, a year ago. Salesforce raised its fiscal 2025 earnings forecast to $9.86 to $9.94 per share but kept revenue guidance at $37.7 billion to $38 billion. CFO Amy Weaver expects slower projects in professional services this year.
DEAL: Or No Deal
BHP Group announced it won't make a formal offer for Anglo American after Anglo declined to extend takeover talks. BHP CEO Mike Henry stated they wouldn't bid for their London-listed rival. The deadline was 5 p.m. London time after a one-week extension. BHP had asked for more time, citing the need for further discussions and socioeconomic measures. Anglo's board unanimously rejected this request.
Source: BHP
BHP's latest offer valued Anglo American at £38.6 billion ($49.2 billion). BHP aims to create a major copper mining company, leveraging copper's role in green energy. Anglo had previously rejected BHP's offers, saying they undervalued the company.
Chart of the Day
📊Best Investment Longterm
Source: CNBC
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @wallstreetoasis
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy
If you have any questions please contact us at info@gritcap.io
Reply