What's next for Hewlett Packard's (HPE) Meg Whitman? After turning down the Uber Technologies Inc. CEO position (reportedly), the six-year HPE veteran says she will turn her sights to improving performance at the company she helped break up just a few short years ago.
And there's more to report on the activist front. Lord & Taylor and Saks Fifth Avenue owner Hudson's Bay Co. (HBC) is working with Bank of America Merill Lynch to defend itself in a prospective proxy fight against activist investor Jonathan Litt, TheStreet's sister publication The Deal has learned. "Hudson's Bay is a real estate company," he told The Deal. "We believe its real estate is worth more than what the stock is trading."
Happy Birthday, Warren. The Oracle of Omaha, Warren Buffett, celebrated his 87th birthday on Wednesday, and didn't disappoint his followers, adding to one of his largest holdings.
Buffett's Berkshire Hathaway Inc. (BRK.A) has become the top shareholder of Bank of America Corp. (BAC) after exercising its right to acquire 700 million shares of the bank. The purchase more than tripled Buffett's original investment made six years ago. While the Charlotte-based bank closed up almost 2%, TheStreet's Stephen Guilfoyle notes that Buffett acquired the right to buy these shares just after the financial crisis at about $7 apiece through warrants.
As Sarge Guilfoyle points out, not many retail investors (if any) have the resources or clout to land a deal like that. The moral, stay away from Bank of America unless you're the Oracle of Omaha.
Photo of the day: What would Lucy do?
Alphabet Inc. (GOOGL) wasn't around in the 1950's to help Lucille Ball and Desi Arnaz (Ricky Ricardo) with their appliance issues. Well, on Wednesday, the tech company revealed that it working to control your appliances, via its latest product Google Assistant. Through partnerships with companies like LG, users can say commands including "Ok Google, wash my clothes" or "Ok Google, start vacuuming." Your home may soon be a little less like the days of "I Love Lucy" and more like you were operating in the land of "Bewitched" or "I Dream of Jeannie." With one command you can make your whole house come alive.
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