Contrarian Corpus

79 documents showing 61–79

Starboard Value 2023-09-12

GoDaddy Inc. GDDY

GoDaddy has missed its 2022 Investor Day targets as Tech & Dev expenses ballooned; cutting costs to a 40% growth+profitability exit rate and adding a Starboard director unlocks a ~40% valuation re-rating.

N4 V3 C2
Muddy Waters 2023-06-07

Chinook Therapeutics KDNY

Chinook manipulated 2021-2022 revenues via its Chinese JV SanReno; strip out the accounting tricks and reported revenue collapses by 95% and 68% respectively, reinforcing our short.

N4 V2 C1
Land & Buildings 2023-06-01

Alexandria Real Estate Equities, Inc. ARE

Alexandria's life-science office portfolio is being hit by the same WFH hurricane as traditional offices, and shares face 30-40% downside if re-rated to coastal office REIT peers.

N3 V4 C4
Greenlight Capital 2023-05-09

Vitesco Technologies VTSC

Vitesco trades at €2.6B EV — less than its ICE business alone is worth (€2.9-4.3B at peer multiples); buy the stock and get the high-growth EV-powertrain unit for free.

N5 V3 C2
Starboard Value 2023-05-05

LivePerson, Inc. LPSN

LivePerson's Founder-CEO LoCascio has destroyed value and ignored governance; Starboard is launching a 2023 proxy fight to force a CEO change or sale of the company.

N4 V2 C2
Engine Capital 2023-04-20

Parkland Corporation PKI

Parkland's board re-nominated its 24-year chairman and set sub-cost-of-capital ROIC targets; Engine urges shareholders to WITHHOLD on all incumbents to force governance, pay, and portfolio reform.

N3 V1 C1
Bluebell Capital 2023-04-12

Glencore Plc GLEN

Glencore's unsolicited Teck bid is structurally flawed; Glencore should first demerge thermal coal, Oil Marketing and Viterra, then merge with Teck to unlock a world-class transition-metals leader.

N4 V1 C1
TCI Fund 2023-03-23

Cellnex Telecom, S.A. CLNX

Cellnex is a great asset hobbled by a board that botched CEO succession; TCI will move at the AGM to remove Kan, Shore and Reich and seat its own director.

N3 V2 C1
Engine Capital 2023-03-22

Parkland Corporation PKI

Parkland's conglomerate mix of retail, refinery and distribution trades at a 3-turn discount to Couche-Tard; spin the non-core assets and refresh the stale board to unlock ~$45/share, roughly 55% upside.

N4 V2 C1
Soroban 2023-02-22

Union Pacific Corporation UNP

UNP owns the best Class I rail franchise but ranks worst on every metric under CEO Lance Fritz; bringing back operator Jim Vena could double the stock to ~$400 by 2025.

N5 V4 C4
TCI Fund 2023-02-20

Airbus SE AIR

TCI urges Airbus to abandon the 29.9% Evidian stake — a value-destructive, politically-motivated bailout of Atos that distracts management from fixing aircraft delivery shortfalls.

N4 V2 C1
Starboard Value 2023-02-06

Rogers Corporation ROG

Starboard's 6.5% stake in Rogers Corporation backs a board slate of specialty-materials veterans, arguing undervalued shares warrant fresh director expertise after the failed DuPont sale.

N2 V1 C1
Trian Partners 2023-01-12

The Walt Disney Company DIS

Disney's world-class IP is being squandered by a board that overpaid $52bn for Fox, bungled CEO succession, and is bleeding streaming losses — add Nelson Peltz to restore discipline.

N4 V3 C3
TCI Fund 2022-11-15

Alphabet GOOGL

Alphabet's cost base is bloated — headcount up 20% CAGR since 2017, pay 67% above Microsoft, Other Bets bleeding $20bn; cut costs, target a 40% Google Services margin, and buy back stock aggressively.

N4 V3 C2
Kerrisdale Capital 2021-12-01

Astra Space, Inc. ASTR

Astra is a SPAC-bubble rocket company with no revenue, an undersized non-reusable vehicle, and fantastical 300-launch-a-year forecasts; shares should tumble back to the ground.

N4 V3 C3
Greenlight Capital 2021-05-12

Teck Resources TECK

Teck is the overlooked pick-axes play on the EV/green-electrification copper boom — QB2 doubles its copper mix and at forward-curve copper the stock is worth ~C$59, nearly double.

N4 V2 C2
Land & Buildings 2020-12-01

Multiple REIT subsectors (urban office, retail, business hotels, movie theaters)

Post-vaccine pent-up demand will mask permanent secular damage in urban office, retail, business hotels, and movie theaters — investors should sell the mirage, not buy it.

N4 V2 C2
Third Point 2020-10-07

The Walt Disney Company DIS

Disney should kill its $3bn dividend and plow every dollar into Disney+ content; subscriber LTV math and Adobe/Microsoft precedents show the re-rating dwarfs any dividend yield.

N4 V2 C2
Engine Capital

Parkland Corporation PKI

Parkland's board is running a sham strategic review to entrench itself; Engine demands a shareholder-driven board reconstitution before the 2025 Annual Meeting to unlock real value.

N3 V1 C1