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Crown Castle

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business2 years ago

Paramount's Stock Soars on Potential Sale Amid CEO Exit and Bid Interest

U.S. equities rose at midday as positive economic reports boosted investor confidence. Paramount Global saw a surge in its stock price amid rumors of a potential buyout. Crown Castle's CEO stepped down under pressure from activist investor Elliott Investment Management. Honeywell agreed to acquire Carrier Global's security unit for $4.95 billion. Lululemon Athletica reported better-than-expected earnings and a strong start to the holiday shopping season.

via Investopedia|
#business#crown-castle#honeywell
business2 years ago

"Crown Castle CEO Retirement Signals Victory for Activist Investor Elliott"

Crown Castle CEO Jay Brown is retiring, coinciding with activist fund Elliott Management's call for a new chief executive as part of its campaign for improved governance and fiber strategy at the cell tower company. Anthony Melone, a Crown Castle board member, will serve as interim CEO while the board searches for a permanent successor. Elliott, which controls a $2 billion stake in Crown Castle, is also seeking bylaw changes and a review of the company's fiber business, potentially including a sale. Crown Castle, one of the largest communications infrastructure providers in the US, has seen its stock decline over 40% from its 2021 high.

via CNBC|
#activist-investor#business#ceo-retirement
business2 years ago

Cyber Monday frenzy sends Wall St tumbling

U.S. stocks ended lower on Monday as investors took a pause after the Thanksgiving holiday, while retailers attracted bargain hunters with Cyber Monday deals. Affirm Holdings surged as its "buy now, pay later" option hit an all-time high, boosting online holiday sales. Crown Castle International also gained as activist investor Elliott Investment Management sought changes at the wireless tower owner. The Dow Jones Industrial Average fell 0.16%, the S&P 500 lost 0.20%, and the Nasdaq Composite dropped 0.07%.

via Reuters|
#affirm-holdings#business#crown-castle
business2 years ago

"Crown Castle: Elliott's $2B Stake and Stock Market Movers to Watch"

Activist hedge-fund manager Elliott Investment Management plans to push for change at Crown Castle, the owner of wireless towers, after acquiring a stake of over $2 billion. Meanwhile, shares of semiconductor giant Nvidia edged up 1% in morning trading following a 1.9% drop on Friday due to news of a delay in the launch of a new AI chip intended for China.

via The Wall Street Journal|
#ai-chip#business#crown-castle
finance2 years ago

Warren Buffett's Dividend Strategy and Cash Hoarding: Insights into His Personal Portfolio

Warren Buffett's Berkshire Hathaway portfolio includes three stocks with ultra-high dividend yields: Golub Capital with a yield of over 10%, Ares Capital with a yield of over 9.8%, and Crown Castle with a yield of nearly 6.5%. Golub Capital and Ares Capital are business development companies (BDCs) that have delivered solid returns and outperformed the S&P 500. Crown Castle, a cell tower owner, has faced challenges due to Sprint's cancellation of cell tower leases but remains committed to maintaining its dividend payout. Among the three, Ares Capital is favored for its strong track record and diversified portfolio.

via The Motley Fool|
#ares-capital#crown-castle#dividend-stocks
finance2 years ago

"Top Dividend Stocks: Apple's Rise and Energy Companies' Potential"

Clearway Energy, Crown Castle, and Kinder Morgan are three dividend stocks that offer yields above 6% and have a track record of steady dividend growth. Clearway Energy, one of the largest renewable energy producers in the US, expects to grow its dividend in the upper end of its 5% to 8% annual target range through 2026. Crown Castle, a REIT focused on telecommunications infrastructure, benefits from strong and growing demand driven by 5G technology. Kinder Morgan, a pipeline company, generates durable cash flows and has a portfolio of expansion projects that should support future dividend increases. These stocks provide investors with the opportunity to lock in attractive and growing passive income streams.

via The Motley Fool|
#clearway-energy#crown-castle#dividend-stocks