Crescent Point Energy Corp. triumphed over activist investor Cation Capital Inc., with all of the oil producer’s board nominees winning approval from shareholders after a rancorous proxy battle.
Cation nominees Dallas Howe and Herbert Pinder each garnered more than 100 million votes but still fell about 30 million votes shy of the nearest company nominees, Calgary-based Crescent Point said in a statement Friday. Cation founder Sandy Edmonstone and dissident nominee Thomas Budd received about 20 million votes.
The results are a victory for Chief Executive Officer Scott Saxberg, whose leadership of Crescent Point since the 2014 oil crash had come under fire from Cation. The activist, a private investment firm recently started by former Macquarie Capital Markets Canada Ltd. banker Edmonstone, had argued that the company had taken on too much debt and was growing production without regard for shareholder return.
Crescent Point defended its strategy and harshly attacked Cation’s credibility, accusing Edmonstone of seeking a quick win at shareholders’ expense and saying the activist’s nominees had conflicts of interest.
Top Bank Stocks To Invest In Right Now: Snap-On Incorporated(SNA)
Advisors' Opinion:- [By Shane Hupp]
Snap-on (NYSE:SNA) is scheduled to post its quarterly earnings results before the market opens on Thursday, July 19th. Analysts expect Snap-on to post earnings of $2.96 per share for the quarter.
- [By Joseph Griffin]
Earnest Partners LLC decreased its position in Snap-on Incorporated (NYSE:SNA) by 0.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 982,944 shares of the company’s stock after selling 5,445 shares during the quarter. Snap-on makes up 1.4% of Earnest Partners LLC’s portfolio, making the stock its 13th biggest holding. Earnest Partners LLC’s holdings in Snap-on were worth $145,024,000 at the end of the most recent quarter.
- [By Stephan Byrd]
Bronfman E.L. Rothschild L.P. decreased its position in Snap-on Incorporated (NYSE:SNA) by 62.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 623 shares of the company’s stock after selling 1,051 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Snap-on were worth $100,000 at the end of the most recent reporting period.
- [By Garrett Baldwin]
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The Top Stock Market Stories for Friday General Electric Co. (NYSE: GE) leads the earnings calendar as reporting for the second quarter moves into full swing. The Boston-based conglomerate is expected to report earnings per share (EPS) of $0.18 on top of $29.76 billion in revenue. Former Dallas Federal Reserve Bank Vice President Jerry O'Driscoll offered some choice words for the U.S. central bank. In an interview with CNBC, O'Driscoll warned that the Fed is being "very aggressive" with interest rate policy in 2018. He warned the central bank is ignoring important factors like a rising dollar and the flattening yield curve. The former bank executive argued that he doesn't see the case for additional rate hikes in the year ahead. This is one reason why investors should protect themselves from any downside caused by the Fed. According to The Wall Street Journal, three top cybersecurity officials are departing their positions at the FBI. The departures are planned due to their ongoing concerns about cybersecurity attacks from abroad and disagreements with the Trump administration. Three Stocks to Watch Today: MSFT, SKX, SNA Shares of Microsoft Corp. (Nasdaq: MSFT) popped more than 3.2% after the cloud computing and software giant topped earnings expectations after the bell Thursday. The company topped $100 billion for its fiscal 2018. This is the first time that it has ever reached this revenue level for a year. The firm reported EPS of $1.13, topping Wall Street estimates by $0.05. The firm reported revenue of $30.09 billion, besting expectations of $29.21 billion. Shares of Snap-on
Top Bank Stocks To Invest In Right Now: Liberty TripAdvisor Holdings, Inc.(LTRPA)
Advisors' Opinion:- [By Max Byerly]
Liberty Tripadvisor Holdings Inc Series A (NASDAQ:LTRPA) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 2,070,644 shares, an increase of 47.7% from the May 15th total of 1,402,097 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily trading volume, of 839,315 shares, the short-interest ratio is currently 2.5 days.
- [By Lisa Levin]
Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA) shares shot up 32 percent to $12.175 following TripAdvisor Q1 earnings beat.
Shares of ZAGG Inc (NASDAQ: ZAGG) got a boost, shooting up 27 percent to $14.60 after the company posted better-than-expected Q1 earnings.
- [By Lisa Levin] Gainers Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA) shares jumped 31.6 percent to $12.18 following TripAdvisor Q1 earnings beat. ZAGG Inc (NASDAQ: ZAGG) rose 26.5 percent to $14.55 after the company posted better-than-expected Q1 earnings. OPKO Health, Inc. (NASDAQ: OPK) shares gained 25 percent to $4.0234 following Q1 beat. Axon Enterprise, Inc. (NASDAQ: AAXN) jumped 23.5 percent to $55.12 following a big Q1 beat. The company raised its fiscal 2018 sales growth guidance from 16-18 percent to 18-20 percent. Penn Virginia Corporation (NASDAQ: PVAC) gained 23.3 percent to $59.00 after reporting Q1 results. TripAdvisor, Inc. (NASDAQ: TRIP) rose 22.5 percent to $47.51 after the company reported stronger-than-expected results for its first quarter on Tuesday. Sears Holdings Corporation (NASDAQ: SHLD) shares surged 21.7 percent to $3.36. Amazon.com's partnership with Sears started in 2017 with an agreement to sell Kenmore-branded appliances online. On Wednesday, the companies announced an extension of their relationship to now include tire delivery and installations. EP Energy Corporation (NYSE: EPE) jumped 21.3 percent to $2.68 following Q1 results. LendingClub Corporation (NYSE: LC) surged 20.4 percent to $3.395 following better-than-expected Q1 earnings. Superior Industries International, Inc. (NYSE: SUP) gained 19 percent to $15.82 after reporting Q1 results. Bellicum Pharmaceuticals, Inc. (NASDAQ: BLCM) shares rose 18.5 percent to $8.13 following Q1 results. Twilio Inc. (NYSE: TWLO) rose 18.3 percent to $52.47 after the company posted strong quarterly results. Cerus Corporation (NASDAQ: CERS) shares jumped 18.3 percent to $6.47 following quarterly results. IEC Electronics Corp. (NYSE: IEC) shares climbed 17 percent to $4.68 after reporting better-than-expected quarterly earnings. New Relic, Inc. (NYSE: NEWR) rose 16.8 percent to $90.10 following Q4 results. Gulfport Energy Corporation (NASDAQ: GPOR)
- [By Lisa Levin]
Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA) shares shot up 30 percent to $12.05 following TripAdvisor Q1 earnings beat.
Shares of ZAGG Inc (NASDAQ: ZAGG) got a boost, shooting up 26 percent to $14.48 after the company posted better-than-expected Q1 earnings.
- [By Ethan Ryder]
Engineers Gate Manager LP acquired a new position in Liberty Tripadvisor Holdings Inc Series A (NASDAQ:LTRPA) during the second quarter, Holdings Channel reports. The fund acquired 102,003 shares of the technology company’s stock, valued at approximately $1,642,000.
- [By Lisa Levin]
Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA) shares shot up 31 percent to $12.10 following TripAdvisor Q1 earnings beat.
Shares of ZAGG Inc (NASDAQ: ZAGG) got a boost, shooting up 34 percent to $15.3628 after the company posted better-than-expected Q1 earnings.
Top Bank Stocks To Invest In Right Now: Scudder Multi-Market Income Trust(KMM)
Advisors' Opinion:- [By Logan Wallace]
Shaker Financial Services LLC trimmed its position in shares of Scudder Multi-Market Income Trust (NYSE:KMM) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 176,961 shares of the investment management company’s stock after selling 18,837 shares during the quarter. Shaker Financial Services LLC’s holdings in Scudder Multi-Market Income Trust were worth $1,554,000 at the end of the most recent reporting period.
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