283 documents showing 121–180

GoDaddy, News Corp, Fortrea

Starboard pitches three ideas: News Corp should separate Digital Real Estate to unlock ~50% upside, GoDaddy should expand margins to 33%+, and Fortrea can hit 18% peer margins under Tom Pike.

Multiple (GoDaddy, News Corp, Fortrea) GDDY, NWSA, FTRE

Starboard pitches three activist ideas at the 2023 13D Monitor Summit — GoDaddy margin expansion, News Corp digital-real-estate separation, and Fortrea CRO profitability fix — each with 50%+ upside.

Rollins Inc. ROL

Rollins is the 'Cockroach' of activism: SEC settlement, auditor swap, family insider sales, and a 27x EBITDA multiple set up 30-40% downside as Rentokil/Terminix and PE roll-ups erode the moat.

Bloomin' Brands BLMN

Bloomin' Brands trades at 5.0x EBITDA vs Darden's 9.5x because of operational execution failures at Outback; Starboard's Darden playbook can narrow the gap and unlock shareholder value.

Fortrea Holdings Inc. FTRE

Fortrea, LabCorp's spun-out CRO, earns 9% EBITDA margins versus 18% peers; CEO Tom Pike's IQVIA playbook implies $47-$72 per share, 60-144% upside at normalized margins.

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.

Carvana Co. CVNA

Carvana is a poorly-run subprime used-car retailer buried under $6.5bn of debt; the recent 165% rally is a loan-sale mirage and the equity is worth zero.

The Goodyear Tire & Rubber Company GT

Goodyear's industry-low 5% margin and under-monetized 715-store retail platform create $32/share of value vs $11 today — via board refresh, retail sale, and operational review.

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.

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.

Ritchie Bros. Auctioneers RBA

Back the amended RBA-IAA merger: $350-900M of synergies, a Starboard/Ancora-refreshed board, and Luxor's anti-deal case is flawed — RBA should re-rate from $62 to ~$130.

Alphabet GOOGL

Alphabet's January layoffs are a start but insufficient; management must cut headcount ~20% to 150,000 and slash excessive pay, including stock-based comp.

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.

The Walt Disney Company DIS

Disney is in a self-inflicted crisis of governance, strategy and capital allocation; electing Nelson Peltz to the board will restore discipline, profitability and the dividend by FY 2025.

Capricorn Energy PLC CNE

Capricorn's board is destroying value by forcing a low-ball NewMed sale; replacing seven directors unlocks up to 400p per share via Palliser's Value Optimisation Plan.

Six Flags Entertainment Corp. SIX

Six Flags' owned real estate is worth more than its entire equity value; spinning it to a REIT buyer like VICI plus fixing the botched 2022 repositioning can double the stock.

Saputo Inc. TSX:SAP

Saputo's 25-year dairy roll-up is failing internationally; hidden U.K. pension, Argentina margin outlier, and auditor red flags point to 40%-60% downside to C$13.75-$20.50.

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.

Multiple (Wix, Salesforce, Splunk, Vertiv) WIX / CRM / SPLK / VRT

Four high-quality TMT names (Wix, Salesforce, Splunk, Vertiv) trade at multi-year-low valuations; closing the margin gap to peers as the market shifts from growth to profitability unlocks substantial FCF/share upside.

LivePerson, Inc. LPSN

Starboard owns 9.7% of LivePerson and is running a proxy fight to reconstitute the board and unseat founder-CEO Rob LoCascio, arguing toxic culture and weak governance have driven chronic underperformance.

LivePerson, Inc. LPSN

LivePerson's founder-CEO and entrenched Board have destroyed value through strategy drift and toxic culture; Starboard's proxy slate will reconstitute the Board and refocus the company.

US Foods Holding Corp. USFD

Sachem Head owns 8.7% of US Foods and is running a proxy fight to install five directors who can close the Sysco margin gap and deliver ~100% upside.

Huntsman Corporation HUN

Huntsman has misled shareholders for 15 years — missed EBITDA targets, destroyed Textile Effects, fire-sold Venator — while a legacy board shielded management; elect Starboard's nominees.

Huntsman Corporation HUN

Starboard is running a proxy fight for four Huntsman board seats, arguing a CEO-beholden board allowed 337% S&P underperformance and three missed Investor Day promises.

Huntsman Corporation HUN

Huntsman has serially missed its own Investor Day promises while an entrenched board shields management; elect Starboard's four independent chemical-industry nominees to restore accountability.

Huntsman Corporation HUN

Huntsman, led by the founding family for its entire history, has missed three consecutive investor-day targets and lags peer EBITDA margins by ~900bps; Starboard's four nominees can unlock ~600bps of margin expansion.

Huntsman Corporation HUN

Huntsman has chronically underperformed chemicals peers and missed three straight Investor Day targets; Starboard (8.6%) seeks four new directors to restore accountability and unlock value.

Huntsman Corporation HUN

Huntsman has underperformed peers by 575% since IPO and missed three straight Investor Day targets; elect four Starboard nominees on the BLUE card to restore board accountability.

Huntsman Corporation HUN

Huntsman has missed every Investor Day target since 2014 and underperformed chemical peers by 330% since IPO; Starboard nominates four directors to force execution.

Huntsman Corporation HUN

Huntsman's decade of missed EBITDA targets and defensive governance demand Board change; Starboard nominates four directors to restore accountability and close the chronic peer-valuation discount.

Hokuetsu Corporation 3865

Hokuetsu's 13-year CEO resists change as its paper business declines; selling Daio Paper cross-holdings and pivoting to biomass power can quadruple market cap to ¥533.9bn.

Canadian National Railway CNI

CN, once the best-run Class I railroad, is now the worst under CEO Ruest; abandon the KCS deal and install Jim Vena to restore operational excellence.

Box, Inc. BOX

Box has chronically lagged peers and entrenched itself via an unnecessary $500M KKR preferred financing; electing Starboard's minority slate restores stockholder accountability and unlocks long-term value.

Box, Inc. BOX

Box is a best-of-breed cloud content platform that has missed every revenue target since IPO; a reconstituted board can fix go-to-market execution and close a massive valuation gap to peers.

Box, Inc. BOX

Box's board issued $500m of KKR preferred to lock up >10% of the vote and entrench itself ahead of Starboard's proxy contest — Starboard demands the books and four new directors.

Lemonade, Inc. LMND

Muddy Waters is short Lemonade after discovering a critical session-fixation flaw that exposed customer PII to Google's index — a negligence that shatters Lemonade's 'trustworthy' digital-native brand.

Box, Inc. BOX

Box has underperformed cloud peers for years despite engagement, and the Board just cut a dilutive financing to 'buy the vote' — Starboard nominates four directors to force real transformation.

Box, Inc. BOX

After a failed 2020 settlement, Starboard will nominate directors at Box's 2021 Annual Meeting, citing missed growth targets and a $500M convertible preferred it calls a 'buy the vote' scheme.

Forward Air Corporation FWRD

Forward Air's acquisition-led growth strategy has decimated its core LTL margins; Ancora's nominees will restore operating discipline and unlock ~50% upside to $130-$135/share.

Corteva, Inc. CTVA

Corteva's spin-off potential is squandered by CEO Jim Collins and a complacent Board; Starboard nominates eight directors to force leadership change and unlock operating value.

Nevro Corp. NVRO

Nevro is a failed one-trick pony at 15x sales: the pivotal SENZA trial was rigged, HF10 is a phony premise, explant rates run 22-33%, and kickbacks prop up what remains of sales.

Crown Castle International CCI

Crown Castle's $16bn fiber bet earns just 3% ROI; imposing a 40% capex-ROI target, ROIC-linked pay, and a Board refresh unlocks a 46% dividend hike to $7.00.

GCP Applied Technologies GCP

Starboard rebuts GCP: stock has lagged peers on every milestone since the 2016 spin-off, and Starboard's superior director slate can finally drive the turnaround management hasn't delivered.

GCP Applied Technologies GCP

Four years post-spinoff, GCP has lagged peers on growth, margins, and stock price under an insular, interconnected Board; replace nine directors and unlock ~600 bps of EBIT margin expansion.

Inspire Medical Systems, Inc. INSP

Inspire's surgical sleep-apnea implant is too invasive to ever scale — VA sales prove patients refuse it for free, while insiders have dumped $340M cashing out a fictional $10bn TAM story.

Pershing Square Holdings (fund-level portfolio update) PSH

Pershing Square's 2019 return to its concentrated activist playbook drove a 58.1% NAV year; two new positions (Agilent, Berkshire) and a 28.9% NAV discount extend the compounding runway.

eBay Inc. EBAY

eBay is deeply undervalued; separating Classifieds at peer-level ~22x EBITDA multiples and enforcing a more aggressive Marketplace cost and revenue plan would unlock substantial upside versus today's 8.1x multiple.

Canadian Tire Corporation CTC.A

Canadian Tire is an over-levered legacy retailer masking decline with aggressive accounting and risky credit card lending; looming downgrade forces asset sales and 35-50% downside to C$77-100.

AT&T T

Marathon Petroleum Corporation MPC

Marathon Petroleum's conglomerate structure traps $22–$40bn of value; separating Refining, Midstream and Retail into three focused companies unlocks 60%+ upside now and over 100% long-term.

Accelerate Diagnostics AXDX

AXDX is a one-product company whose Pheno system is a flawed niche diagnostic — missed reagent targets, a looming Mayo-UCLA study failure, and cash burn point to 70% downside to a $6 price target.

AECOM ACM

AECOM is a collection of under-integrated franchises; a Jacobs-style operational overhaul plus outright sales of MS and CS can close a 5.3x multiple discount to peers.

GTT Communications, Inc. GTT

GTT Communications is a fundamentally broken telecom rollup using non-GAAP metrics and aggressive accounting to hide negative organic growth, unsustainable leverage, and an inevitable dilutive equity raise.

Bristol-Myers Squibb BMY

BMY is overpaying ~$30B for Celgene's risky pipeline, betting on 10 blockbusters in 8 years vs 3 in 15; shareholders should vote against and unlock 900bps of standalone margin upside.

Bristol-Myers Squibb BMY

BMY's $91B Celgene deal bets the company on a REVLIMID patent cliff and pipeline requiring 10 blockbusters in 8 years — shareholders should vote no and pursue a standalone Amgen-style transformation.

Bristol-Myers Squibb Company BMY

Bristol-Myers' $91bn Celgene acquisition buys pharma's largest patent cliff; Starboard urges shareholders to vote it down and replace directors to pursue a standalone plan or sale.

Bristol-Myers Squibb Company BMY

Starboard urges BMY shareholders to reject the $91B Celgene acquisition — it imports a massive REVLIMID patent cliff and was rushed through without exploring standalone turnaround or a sale of Bristol-Myers.

Magellan Health, Inc. MGLN

Magellan destroyed $700M of value through failed acquisitions and three 2018 guidance cuts; Starboard's six-director slate will overhaul the board and run a parallel sale process at peer multiples.

Pershing Square Holdings, Ltd. PSH

PSH offers an activist portfolio compounding well above the S&P 500, available at a 27% discount to NAV, with a new dividend, buybacks, and insider buying narrowing the gap.

Dollar Tree, Inc. DLTR

Dollar Tree is deeply undervalued because Family Dollar is a failed acquisition and the $1 price ceiling is a self-imposed cap; selling Family Dollar and testing multi-price points unlocks $150/share.