William Ackman
Bill Ackman runs hedge fund Pershing Square Capital, which he started in 2003 following the dissolution of Gotham Partners.
Ackman is a value investor with an activist bent. Activist investors agitate management for changes. He owns large positions in Target (NYSE: TGT) and Borders (NYSE: BGP). He has also been involved in activist situations at Wendy's (NYSE: WEN) and McDonald's (NYSE: MCD).
Ackman proved his acumen as a short seller in 2007/2008 as short positions he held in MBIA (NYSE: MBI) and Ambac (NYSE: ABK) proved to be big winners due to the credit crunch.
In July 2008, Ackman said he was short the common stock of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE). Ackman also laid out a plan to reorganize the GSEs, which would wipe out the common shareholders.
Cell Therapeutics, Inc. (Nasdaq: CTIC) 27.4% LOWER; shares are under pressure Monday following documents from the FDA showing that reviewers questioned the effectiveness of the company's experimental lymphoma drug, pixantrone. The FDA reviewers also noted substantial side effects. An FDA advisory panel will meet on Wednesday and decide if they should recommend approval.
Imergent Inc. (NYSE: IIG) 26% HIGHER; reports Q4 EPS of $0.08, compared to a loss of $0.89 in the same quarter last year. Revenue for the quarter was $13.20 million, versus $20.08 million in Q408.
China Fire & Security Group, Inc. (Nasdaq: CFSG) 24.7% HIGHER; sees FY09 EPS of $0.87-$0.89, versus the consensus of $1.05, on sales of ...
Here is a recap of the top news items from this week on Wall Street:
1. The always-anticipated jobs Friday didn't disappoint this month, showing a surprise improvement in the unemployment rate. The heavily-tracked macro indicator fell to 9.7% in January, better than the 10% economists had been expecting. U.S. companies cut 20,000 nonfarm payroll jobs last month, while more workers were given overtime hours instead of new hires being added to the workforce. The drop in employment was due in large part to the decline in construction jobs and government positions.
2. After rising to as high as 10,729 less than a month ago, the Dow Jones average tumbled below the 10,000 level this week as concerns related to US and European debt weighed on stocks. Strong downside on Thursday pushed the index below this psychological level just minutes before ...
After giving back some of the early gains, Borders Group, Inc ...
Borders Group, Inc. (NYSE: BGP) pops in after-hours action ...
NEW YORK, Jan. 27 /PRNewswire/ -- On Wednesday, February 3, 2010 the Boys & Girls Harbor Investment Conference will bring together Wall Street's leading investors for a conversation about the latest market trends and cutting-edge investment ideas, at an intimate 200 seat venue. The Conference is co-chaired by William A. Ackman, Founder of Pershing ...
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Landry's Restaurant (LNY) volatility low on uncertainty Pershing Square stake
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Hedge Fund Clone Portfolios Crushed the US Stock Market in 2009
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Ackman's Pershing Square Buys 2% Stake in Kraft (KFT), Says Stock Undervalued
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Bill Ackman Said Short Thesis on General Growth Properties (GGWPQ) Is Wrong, Says Stock Worth $24-$43
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Landry's Restaurant (LNY) volatility low on activist stake and controlling shareholder's intention
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Bill Ackman Likes Corrections Corp. of America (CXW)
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Realty Income (O) Flat Today After Yesterday's Ackman-Related Sell-Off
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Ackman's Pershing Square Shows New Stake In ADP (NYSE: ADP)
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Bill Ackman's Pershing Square Lowers Overall Position In Target (TGT), But Boosts Common Stock Holdings
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Top 10 News Items 5/26-5/29: GM Confirms Support of UAW-Represented Employees on Amended Contract, But Bankruptcy Still Likely; Yield Curve Steepens to Record Levels; Oil, Gold Surge
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Ackman Wins For Losing In Target (TGT)
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Target (TGT) Shareholdrers Re-Elect Company Slate, Target Says - Bloomberg.
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The Target (TGT), Pershing Square Battle Continues
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Pershing Square Responds to Target's (TGT) Recent Press Release
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Target (TGT) Issues Statement Countering Pershing Square Comments
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Highlights From TGT's Q1 Conference Call: Guidance Remains Sound
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Ackman Gains Some Ground On Getting Target (TGT) Board Seat
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Ackman's Pershing Square Shows New Stake In Yum Brands (YUM), Raises Apartment Investment (AIV)
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Bill Ackman Discusses Target (TGT) Board Plan On Bloomberg TV
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Borders (BGP) Continues Its Run
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Pershing Square Responds to Target's (TGT) Objection to Universal Ballot Proposal
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Pershing Square's Bill Ackman Says Banks Are Insolvent (C, BAC)
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General Growth Properties (GGP) Files Chapter 11 Bankruptcy
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General Growth Properties (GGP) Continues Volatile Action, Recent Trend Is Up But Risks Remain
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Bill Ackman's Target (TGT) Fund Rose 48% Last Month
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General Growth (GGP) Sees Upside Action
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Target (TGT) to Let Shareholders Vote on Size of Board
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Borders Group (BGP) Announces 1-yr Extension on Pershing Square Loan
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Ackman Sends Letter to Target (TGT) Board: Wants Additional Board Nominee, Threatens Arbitration
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Target (TGT) Will Not Recommend Ackman or Suggestions By Pershing Square For Board
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Bill Ackman will to propose himself and 4 other candidates for Target's (TGT) Board of Directors - Bloomberg
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Bill Ackman Talking With Target (TGT) About Board Seats; Sold Call Options
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Top 10 News Items 2/17-2/20: Obama Unveils Housing Plan; Financials Continue Getting Smashed; GM Asks for Additional $4.5B
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Ackman's Pershing Square Loads Up On Visa (V), Sells Dr Pepper (DPS) and Wendy's (WEN)
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Ackman's Pershing Square trimmed its stake in Wendy's/Arby's (WEN) about 8.6 million shares
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Ackaman's Pershing Square Boosts Stake in Visa (V) Over 4M Shares
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Borders Group (BGP) and Pershing Square Further Extend Financing Agreement
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Target (TGT) March volatility Flat at 67
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Pershing Square's Target (TGT) Fund Down Over 89.5%
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Borders Group (BGP) Names Pershing's McGuire as Chairman
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Pershing Square Increases Its Stake In General Growth Properties (GGP)
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Pershing Square Sells Its Stake In Barnes & Noble (BKS)
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Pershing Square's Hedge Fund Set-Up For Target (TGT) Dropped 68%
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Unusual 11 Mid-Day Movers 11/26: EMKR, CHRS, SCMF, GM Higher; LFG, BGP, BCE, ANDE Lower
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Morning Movers 11/26: BCE (BCE) Lower After Buyout Hits Snag, Deere (DE) Lower on Cautions Outlook
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Borders Group (BGP) Misses Q3 View By 4c
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Ackman's Pershing Square Takes Large Stake in Embattled REIT General Growth Properties (GGP)
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Ackman's Pershing Square Shows New 7.5% Stake in General Growth Properties (GGP)
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Pershing Square To Delay Discussing Target's (TGT) Real Estate Structure Until Next Year
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Target (TGT) Turns Down Real Estate Structure Ideas from Pershing Square
