Jeff Smith, CEO of Starboard Value, joins Dani Burger on "Bloomberg Deals" to discuss Starboard's $350M stake in Carmax. Starboard Value LP has amassed a stake of about $350 million in CarMax Inc. and sees an opportunity to accelerate the used car retailer’s turnaround under incoming Chief Executive Officer Keith Barr. The activist investor has nominated its own CEO, Jeff Smith, to the CarMax boar...
Jeff Smith, CEO of Starboard Value, joins Dani Burger on "Bloomberg Deals" to discuss Starboard's $350M stake in Carmax. Starboard Value LP has amassed a stake of about $350 million in CarMax Inc. and sees an opportunity to accelerate the used car retailer’s turnaround under incoming Chief Executive Officer Keith Barr. The activist investor has nominated its own CEO, Jeff Smith, to the CarMax board. (Source: Bloomberg)
Photographer: David Paul Morris/Bloomberg Salesforce Inc. drew lukewarm demand for its $25 billion bond sale amid concerns over its debt-funded share buyback and broader worries about software companies’ exposure to artificial intelligence. The software firm is raising $25 billion from an eight-part bond, with maturities ranging from two to 40 years, according to people with direct knowledge of th...
Photographer: David Paul Morris/Bloomberg Salesforce Inc. drew lukewarm demand for its $25 billion bond sale amid concerns over its debt-funded share buyback and broader worries about software companies’ exposure to artificial intelligence. The software firm is raising $25 billion from an eight-part bond, with maturities ranging from two to 40 years, according to people with direct knowledge of the matter. Most Read from Bloomberg Salesforce, the leading maker of customer relationship management software, drew $50 billion of demand at its peak, the people said. That tally is a far cry from the previous day, when Amazon.com Inc. saw about $126 billion of orders for a US sale that raised $37 billion. High-grade debt offerings have received orders equal to about 4.1 times the notes for sale this year on average, according to data compiled by to data compiled by Bloomberg. Price talk on the longest part of the deal tightened by just 0.1 percentage point to 1.85 percentage point above Treasuries, the people said, asking not to be identified because details are private. That’s less than the 0.3 percentage point average tightening for similar deals so far this year. The stark contrast underscores how Salesforce has become a poster child for Wall Street’s concerns about the impact of AI on established vendors. Meanwhile, Amazon is among the technology behemoths that are seen as benefiting from the billions they’re pouring into building out their AI operations. “As short interest goes, there are near record levels globally within the software space,” said George Catrambone, head of fixed income at DWS Americas. “It’s not as if the whole space and even new issues are getting thrown out with the bathwater, but I think it is going to come a little bit wider.” Salesforce is also tapping AI tools as a growth engine. However, the company’s stock has lost more than a quarter of its value this year, and investors have demanded wider spreads over Treasuries to buy its existing notes....
伊朗局勢｜伊朗、黎巴嫩真主黨聯手 攻擊以色列50多個目標 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】伊朗和黎巴嫩真主黨聯合攻擊以色列。 以色列耶路撒冷及海法等城市響起警報，以軍防空系統攔截炮火。伊朗革命衛隊向...
伊朗局勢｜伊朗、黎巴嫩真主黨聯手 攻擊以色列50多個目標 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】伊朗和黎巴嫩真主黨聯合攻擊以色列。 以色列耶路撒冷及海法等城市響起警報，以軍防空系統攔截炮火。伊朗革命衛隊向以色列發射多款彈道導彈，真主黨則出動無人機和火箭炮，擊中以色列逾50個目標，包括海法的以軍基地及特拉維夫市。《紐約郵報》引述以軍消息指，真主黨向以色列發射近100枚火箭炮，約一半被擊落。以軍宣稱30分鐘內攻擊10個位於貝魯特的真主黨總部及擊殺數十名組織成員還擊。
食環署巡查新鮮糧食店防豬肉污染 溫智舜：豬殼宜放枱面或掛牆 地面須用器具隔離 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】食環署日前巡查多間新鮮糧食店，打擊不當處理豬隻屠體，有店舖可能要被取消牌照。食環署表示，...
食環署巡查新鮮糧食店防豬肉污染 溫智舜：豬殼宜放枱面或掛牆 地面須用器具隔離 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】食環署日前巡查多間新鮮糧食店，打擊不當處理豬隻屠體，有店舖可能要被取消牌照。食環署表示，要採取方法防止豬肉受污染。 食環署助理署長（行動）溫智舜：「業界其實有個恆常做法，就是運送豬肉車人員會有店舖的鎖匙，開閘就將豬肉擺放在裏面。放置方法最理想就是第一放在枱面、第二亦有會掛在牆身，掛在牆上，不會放在地上。如果真的連這些位置都用完而有需要利用地面，其實他可以用一些措施，他用適當器具或者能協助的設施，可以防止污染，我們都接受。」
The billionaire founder of Zara is to receive a company record €3.23bn (£2.8bn) dividend this year from the world’s biggest fashion retailer. Amancio Ortega, who still controls 59% of Spain’s Inditex and whose daughter Marta Ortega Pérez is now chair, will receive half his dividend in May and half in November – as will other shareholders. Inditex, which owns a raft of high street chains including ...
The billionaire founder of Zara is to receive a company record €3.23bn (£2.8bn) dividend this year from the world’s biggest fashion retailer. Amancio Ortega, who still controls 59% of Spain’s Inditex and whose daughter Marta Ortega Pérez is now chair, will receive half his dividend in May and half in November – as will other shareholders. Inditex, which owns a raft of high street chains including Bershka, Massimo Dutti, Pull&Bear, Stradivarius and Oysho, said on Wednesday it would increase its dividend by 4% after a “robust operating performance” in 2025. The payout narrowly outstrips a €3.1bn dividend handed to Ortega last year. He has a net worth of about $126.7bn (£94bn), making him the 15th wealthiest person in the world, according to the Bloomberg Billionaires Index. View image in fullscreen Marta Ortega Pérez and her father Amancio Ortega pictured in 2012. Photograph: Silverhub/REX/Shutterstock Sales at Inditex, which has 5,460 stores across more than 90 countries and employs over 160,000 people, rose by 3.2% to €39.9bn in the year to 31 January 2026. Pre-tax profit rose by 5.8% to €8bn, according to results released on Wednesday. Although Inditex closed 103 stores worldwide last year it shifted units to larger outlets, meaning its total selling space increased. Ortega, who turns 90 this month, launched Zara from a small store on the corner of a nondescript street in the centre of La Coruña, in Galicia, northern Spain, in 1975. He is still regularly seen at the Inditex head office chatting with staff. He was a local clothing manufacturer who worked his way up from being a delivery boy at a shirtmakers to open his first shop. In previous years, he has used his dividend payment to fund property purchases including London’s The Post Building, New York’s Haughwout Building and the Southeast Financial Center in Miami, according to Bloomberg. Ortega reportedly raced to spend last year’s dividend on property in the face of Spain’s wealth tax. It is the only country i...
This article first appeared on GuruFocus. OpenAI is accelerating its push to secure the massive computing infrastructure needed for the next phase of artificial intelligence development, with the effort partly overseen by Sachin Katti, who joined the company in November as head of industrial compute after previously serving as chief technology and AI officer at Intel. Reporting to OpenAI President...
This article first appeared on GuruFocus. OpenAI is accelerating its push to secure the massive computing infrastructure needed for the next phase of artificial intelligence development, with the effort partly overseen by Sachin Katti, who joined the company in November as head of industrial compute after previously serving as chief technology and AI officer at Intel. Reporting to OpenAI President Greg Brockman, Katti is responsible for coordinating industrial partnerships, engineering operations and infrastructure delivery as the ChatGPT developer searches for additional data center capacity and critical components such as AI chips and memory. The buildout aligns with the broader vision repeatedly outlined by OpenAI Chief Executive Sam Altman, who has spoken about plans that could involve trillions of dollars of investment in AI infrastructure. OpenAI said its computing capacity more than tripled in 2025 to roughly 1.9 gigawatts, and Altman has suggested the long-term goal could involve producing a gigawatt of new AI infrastructure every week. To expand capacity, the company is working with partners on facilities across several U.S. states as well as in Europe, the Middle East and South America. OpenAI recently decided not to lease an expansion of the Stargate-branded data center in Abilene, Texas built by Crusoe, saying other locations such as Wisconsin may allow faster deployment using the newest Nvidia (NASDAQ:NVDA) chips. Alongside new data centers, OpenAI is also broadening its technology supply chain as demand for AI computing intensifies. The company has signed multibillion-dollar agreements with chipmakers including Cerebras Systems and is tapping additional computing capacity from Amazon's Trainium chips. OpenAI is also developing its own processors through a partnership with Broadcom, with wider deployment expected next year, while continuing to rely heavily on Nvidia hardware to train advanced AI models. The strategy reflects a push to move quickly even ...
watch now VIDEO 4:29 04:29 Subprime surge in borrowing: Here's what to know Squawk Box An increasing number of Americans are turning to balance transfers and personal loans to consolidate and manage debt. It can save them money in the short term, but without a change in spending habits, that strategy is likely to fail, experts say. "If they didn't fix whatever issues were causing them to overspend...
watch now VIDEO 4:29 04:29 Subprime surge in borrowing: Here's what to know Squawk Box An increasing number of Americans are turning to balance transfers and personal loans to consolidate and manage debt. It can save them money in the short term, but without a change in spending habits, that strategy is likely to fail, experts say. "If they didn't fix whatever issues were causing them to overspend and charge on the credit cards in the first place, then they're just going to start charging again," said Jim Triggs, CEO of Money Management International, a nonprofit credit counseling firm. "You can never borrow your way out of debt. Eventually, you're gonna have to pay it and pay it off." Credit card balances reached a record $1.28 trillion at the end of 2025, according to the New York Fed. And many consumers are struggling with higher everyday expenses . More from Your Money: Here's a look at more stories on how to manage, grow and protect your money for the years ahead. You can't 'borrow your way out of debt,' expert says, but more people are trying K-shaped economy looks like 'jaws of a crocodile,' economist says: Here's why Don't wait for Trump's 10% cap, Fed cuts to get a better credit card interest rate What Trump's 1-year, 10% credit card interest rate cap means for your money How tax-efficient investing could boost your portfolio returns in 2026 and beyond Fraud cost older adults up to $81.5 billion in 2024 — more lost at least $100,000 VantageScore's CEO: Average credit score is masking signs of financial distress What December's Fed rate cut means for your money Student loan borrowers have 'a limited time' to leave payment pause 401(k) changes for 2026 —one is 'impactful' for high earners, CFP says Personal loans, which provide a lump sum of money and are typically repaid over two to five years, can be a smart way to consolidate high-interest debt. Rates depend on the borrower's creditworthiness; the average is 12.26% , versus 19.58% for credit cards, accordi...
May arabica coffee (KCK26) today is down -8.70 (-2.94%), and May ICE robusta coffee (RMK26) is down -137 (-3.71%). Coffee prices are lower today on favorable weather in Brazil, as showers are forecast in key coffee-growing areas. Don’t Miss a Day: Coffee prices are also being pressured by rising ICE inventories. ICE-monitored arabica inventories fell to a 1.75-year low of 396,513 bags on November ...
May arabica coffee (KCK26) today is down -8.70 (-2.94%), and May ICE robusta coffee (RMK26) is down -137 (-3.71%). Coffee prices are lower today on favorable weather in Brazil, as showers are forecast in key coffee-growing areas. Don’t Miss a Day: Coffee prices are also being pressured by rising ICE inventories. ICE-monitored arabica inventories fell to a 1.75-year low of 396,513 bags on November 18, but recovered to a 5-month high of 564,626 on Tuesday. ICE robusta coffee inventories posted a 3.5-month high of 4,721 lots on March 3 but have since fallen back to 4,563 lots as of Wednesday. NY arabica coffee prices have given back more than half of the rally seen last week and into Monday on the Iran war, which has closed the Strait of Hormuz and caused global shipping problems. The closure of the waterway has increased global shipping rates, insurance, and fuel costs, and raises costs for coffee importers and roasters. Coffee prices also saw support from Tuesday's news that Brazil's green coffee exports in February fell by -27% y/y, according to Cecafe. Meanwhile, Brazil's Trade Ministry reported last Thursday that Brazil's Feb coffee exports fell -17.4% y/y to 142,000 MT. In supportive news, Somar Meteorologia reported on Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received 14.9 mm of rain last week, or 35% of the historical average. Coffee prices in February sold off sharply, with arabica falling to a 15-month low on February 24 and robusta tumbling to a 6.75-month low on February 23 as signs of a bumper Brazilian coffee crop supported the global supply outlook. On February 5, Conab, Brazil's crop forecasting agency, said that Brazil's 2026 coffee production will climb by +17.2% y/y to a record 66.2 million bags, with arabica production up +23.2% y/y to 44.1 million bags and robusta production up +6.3% y/y to 22.1 million bags. Meanwhile, Rabobank said on March 4 that global coffee production is projected to reach a record 180 million b...
One of Britain’s largest trade unions is cutting membership fees to Labour by more than half a million pounds over the Birmingham bin strike. The move by Unite, one of the three largest unions affiliated to Labour and a key financial donor to it, comes ahead of a conference next year when members will consider whether they want to maintain ties to the party. Unite announced the 40% cut, which will...
One of Britain’s largest trade unions is cutting membership fees to Labour by more than half a million pounds over the Birmingham bin strike. The move by Unite, one of the three largest unions affiliated to Labour and a key financial donor to it, comes ahead of a conference next year when members will consider whether they want to maintain ties to the party. Unite announced the 40% cut, which will cost Labour as much as £580,000, on the anniversary of the bin strike in Birmingham, in which workers have been pitted against a city council controlled by the party. The union’s general secretary, Sharon Graham said: “Unite members are coming to the end of the line as far as Labour is concerned. “Workers are scratching their heads asking whose side are Labour on, who do they really represent, because it certainly isn’t workers.” Talks between Unite and the Birmingham city council have failed to reach a solution since the start of the dispute over the local authority’s decision to remove Waste Recycling and Collection Officer posts, and negotiations. View image in fullscreen Sharon Graham, general secretary of Unite, says its members were ‘coming to the end of the line as far as Labour is concerned’. Photograph: Stefan Rousseau/PA Graham said on Wednesday that residents and workers were continuing to suffer and accused the council of “dithering” over a deal which she said had already been scoped out at conciliation service Acas. The Unite leader, who has been a consistent critic of Keir Starmer’s agenda, added: “Labour’s incompetent behaviour in Birmingham has come on the back of a failed economic strategy, that has left our industrial base fighting for its life. “Oil and gas workers facing decimation, buy British defence promises broken, the public sector undervalued and the elderly and disabled under attack.” A Unite rules conference takes place every four years and next year’s will involve the revision of rules including its affiliation to Labour. Birmingham city counci...
hapabapa Fortinet ( FTNT ) held its annual Accelerate conference this week, and the consensus seems to be that the cybersecurity company will see an increase in artificial intelligence-related monetization. “AI was the theme of Accelerate, with Fortinet highlighting the company's use of AI technology for over a decade, with 20-plus FortiAI-Assist products,” Needham analyst Mike Cikos wrote in a no...
hapabapa Fortinet ( FTNT ) held its annual Accelerate conference this week, and the consensus seems to be that the cybersecurity company will see an increase in artificial intelligence-related monetization. “AI was the theme of Accelerate, with Fortinet highlighting the company's use of AI technology for over a decade, with 20-plus FortiAI-Assist products,” Needham analyst Mike Cikos wrote in a note to clients. “AI accounts for 555 of Fortinet's patents (equating to ~40% of total Global patents). Management believes the 'Edge will eat the Cloud', providing advantages to Fortinet based on its architectural underpinnings, particularly as Agents become more prevalent at the edge.” Cikos has a Hold rating on Fortinet shares. Jefferies analyst Joseph Gallo, who has a Hold rating on Fortinet, said he had “constructive” conversations with partners, and there is a growing belief that the company is seeing a tailwind. “Consistent in all of our conversations was product growth remains strong, driven by price increases which customers have been receptive of, as well as pull forward (to beat the increase),” Gallo explained. “This could lead to upside to cons prod growth of 15.7% yoy in 1Q vs. 4Q's 20.4% on a 5 pt. easier comp.” More on Fortinet Fortinet, Inc. (FTNT) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript Fortinet: Preparing The Growth Palo Alto Vs. Fortinet: Why Fortinet Comes Out On Top Fortinet outlines 13% billing growth target for 2026 while advancing Unified SASE and secure networking leadership Fortinet surges as Q4 results, guidance top estimates
Key Points United Parcel Service has been dramatically overhauling its business. The stock is still down 55% from its 2022 highs. 10 stocks we like better than United Parcel Service › Shares of United Parcel Service (NYSE: UPS) have recently pulled back after a rally in late 2025. It remains below its 2022 highs by a whopping 55%. And yet, the company is making material progress in its efforts to ...
Key Points United Parcel Service has been dramatically overhauling its business. The stock is still down 55% from its 2022 highs. 10 stocks we like better than United Parcel Service › Shares of United Parcel Service (NYSE: UPS) have recently pulled back after a rally in late 2025. It remains below its 2022 highs by a whopping 55%. And yet, the company is making material progress in its efforts to become a leaner and more profitable business. Here's why you might want to buy the dip. What does UPS do? United Parcel Service delivers packages. It is a highly capital-intensive business, and the industry has changed dramatically in recent years. UPS has been making big changes to adjust to the times, as it looks to slim down and focus on its most profitable business. That process has required investing in technology and infrastructure while simultaneously reducing staff and selling outdated or unneeded infrastructure. There are big upfront costs involved with these changes. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » UPS has also been purposefully adjusting its customer relationships. On the positive side, it has been leaning into sectors like healthcare, which have high margins. On the negative side, the company has been trimming its business with high-volume customers that provide it with only low-margin business. The biggest change was the company's pre-emptive move to reduce the number of packages it handles for Amazon (NASDAQ: AMZN). These changes support margins but reduce the company's top line. You have to dig below the surface to see the positives at UPS As UPS puts all the pieces together for a business turnaround, the big picture is actually kind of ugly. Higher costs and lower revenue aren't a great story. Not surprisingly, the company's financial statements haven't been pleasant readin...
This article first appeared on GuruFocus. Sequoia Capital partner Ravi Gupta and former Meta Platforms (NASDAQ:META) chief revenue officer John Hegeman are working to raise at least $1 billion for a new venture called Ithaca Holdings, according to people familiar with the matter. The company is expected to operate as a holding entity that could acquire at least one public or private business and p...
This article first appeared on GuruFocus. Sequoia Capital partner Ravi Gupta and former Meta Platforms (NASDAQ:META) chief revenue officer John Hegeman are working to raise at least $1 billion for a new venture called Ithaca Holdings, according to people familiar with the matter. The company is expected to operate as a holding entity that could acquire at least one public or private business and potentially upgrade it with new technology, which may include artificial intelligence. The effort is still in early discussions and the eventual acquisition target could change as planning evolves. Ithaca Holdings is expected to pursue a strategy that goes beyond simply layering artificial intelligence onto traditional businesses. Instead, the firm may focus on improving technology infrastructure and operational systems within companies it acquires, according to people familiar with the plans. Sequoia Capital, where Gupta remains a partner, is described as a major investor supporting the initiative, though the firm declined to comment publicly. The project reflects a broader movement across Silicon Valley in which investors are exploring ways to modernize long-standing industries using new technology. Investment firms including General Catalyst, 8VC and Thrive Capital have backed similar approaches, sometimes acquiring established services businesses and introducing artificial intelligence capabilities. Areas such as accounting and legal services have attracted attention from investors who see potential for AI-driven improvements in those sectors.
Numerai GP disclosed a buy of Universal Display Corporation (NASDAQ:OLED) in a February 17, 2026, SEC filing, increasing its stake by 71,257 shares, with the estimated trade valued at approximately $9.24 million based on quarterly average pricing. According to a SEC filing dated February 17, 2026, Numerai GP increased its position in Universal Display Corporation (NASDAQ:OLED) by 71,257 shares dur...
Numerai GP disclosed a buy of Universal Display Corporation (NASDAQ:OLED) in a February 17, 2026, SEC filing, increasing its stake by 71,257 shares, with the estimated trade valued at approximately $9.24 million based on quarterly average pricing. According to a SEC filing dated February 17, 2026, Numerai GP increased its position in Universal Display Corporation (NASDAQ:OLED) by 71,257 shares during the fourth quarter of 2025. The estimated transaction value was approximately $9.24 million, based on the period’s average share price. The fund’s OLED stake ended the quarter at 75,391 shares, valued at $8.80 million. The net position change of $8.21 million reflects both the share increase and market price movement. Universal Display Corporation is a leading innovator in OLED technology, leveraging a substantial patent portfolio and proprietary materials to serve the global display and lighting industries. The company’s strategy emphasizes research and development, licensing, and close collaboration with manufacturers to enable next-generation display and lighting products. Its competitive edge stems from its intellectual property strength and its ability to supply high-performance OLED materials at scale. Continue reading
A group of Iran-linked hackers say they have broken into the servers of U.S. medical tech giant Stryker, causing disruptions worldwide. As of Wednesday morning, many of Stryker’s global systems have been wiped, and some login pages are instead showing the logo of the hacker group. The hacktivist group, known as Handala, claimed responsibility for the attack in a message posted on an X account purp...
A group of Iran-linked hackers say they have broken into the servers of U.S. medical tech giant Stryker, causing disruptions worldwide. As of Wednesday morning, many of Stryker’s global systems have been wiped, and some login pages are instead showing the logo of the hacker group. The hacktivist group, known as Handala, claimed responsibility for the attack in a message posted on an X account purporting to belong to the group. The hackers wrote that they attacked Stryker “in retaliation for the brutal attack on the Minab school and in response to ongoing cyber assaults against the infrastructure” of Iran and its allies. The hackers were referring to the Minab girls school in Tehran, which the U.S. military reportedly bombed in its recent attacks on Iran, killing more than 175 people, most of them children. Stryker, which makes medical devices and technology for hospitals, does not appear to be directly linked to the recent attacks on Iran, though it has operations in Israel and did last year secure a $450 million contract from the Department of Defense to supply medical devices to the U.S. military. “In this operation, over 200,000 systems, servers, and mobile devices have been wiped and 50 terabytes of critical data have been extracted. Stryker’s offices in 79 countries have been forced to shut down,” the hackers wrote. The hackers’ claims appear to be at least partly credible. According to The Wall Street Journal, some Stryker systems all over the world have been wiped, and others are showing the logo of the hackers group on login pages. “Our teams are actively working to restore systems and operations as quickly as possible. Stryker has business continuity measures in place, and we’re committed to continuing to serve our customers,” a Stryker spokesperson told the Journal. “Stryker is currently experiencing a severe, global disruption across the Windows environment impacting both client devices and servers,” read a notice sent to employees, according to the WSJ. ...