Activist Investors ‘Swarm’ Top Companies

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 2 February 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for Feb. 2. Disney and Salesforce are among the latest targets of what bankers refer to as “swarming,” when multiple activist investors target a single company. WSJ reporter Lauren Thomas explains what’s leading to this increase in activist activity and how boards are responding. Plus, Mexico’s industrial hubs grow as part of a trade shift toward “nearshoring.” Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:22.4	To find out more, go to Lloyd'sbank.com forward slash cost of living.
0:27.0	Lloyd's Bank, by your side.
0:34.5	The Philippines gives the US access to more military bases to counter China.
0:39.8	Plus, oil giant Shell posts record profits and why activist investors are increasingly swarming major companies.
0:48.2	With the stocks of Salesforce or Disney down,
0:51.7	it makes sense that multiple players would kind of be licking their chops, so to speak, at these bigger businesses.
0:58.0	It's Thursday, February 2nd. I'm Luke Vargas with the Wall Street Journal,
1:02.7	and here's the AM edition of What's News, the top headlines and business stories moving your world today.
1:15.2	The United States has reached an agreement giving it access to four more military bases in the Philippines.
1:21.2	Broadening Washington's efforts to counter China's influence,
1:25.2	the deal was announced during a visit to the Philippines by US Defense Secretary Lloyd Austin.
1:31.2	Wall Street Journal, Southeast Asia reporter Feliz Solomon, says the agreement is significant for both countries.
1:37.7	Firstly, it shows that the alliance between the two countries is getting stronger after it had a rough few years under the former Philippines president Duterte.
1:46.7	Secondly, it gives the US a much stronger posture if it needs to respond to crises, for instance in the South China Sea or around the Taiwan Strait.
1:54.7	And both sides agree that it's good for the Philippines. It helps them upgrade their bases and train their troops.
2:00.2	And it could also be really helpful in emergencies like natural disasters.
2:04.2	President Biden and Republican House Speaker Kevin McCarthy have begun debt ceiling talks to avoid the US's first-ever default on its debt.
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