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Follow this list to discover and track stocks have the highest Social scores as rated by Sustainalytics Research. This list is generated daily and limited to the top 30 stocks that meet the criteria.
Berkshire Hathaway Inc.
Wells Fargo & Company
Coca-Cola FEMSA, S.A.B. de C.V.
National Grid plc
Digital Realty Trust, Inc.
Liberty Broadband Corporation
First Republic Bank
Energy Transfer LP
Arch Capital Group Ltd.
Stanley Black & Decker, Inc. CORP UNIT 2017
Teva Pharmaceutical Industries Limited
Annaly Capital Management, Inc.
InterContinental Hotels Group PLC
Mobile TeleSystems Public Joint Stock Company
Kimco Realty Corporation
Zillow Group, Inc.
Sociedad Quimica y Minera de Chile S.A.
Grupo Aval Acciones y Valores S.A.
Zions Bancorporation, National Association
Xerox Holdings Corporation
New York Community Bancorp, Inc.
Coronavirus travel fears have temporarily shuttered many hotels around the world. But when those doors reopen, the trend of rampant hotel brand expansion seen in recent years may take on a different look. With the rise of alternative accommodation competitors like Airbnb, hotel companies began to add brands that appealed to different price points as […]
Unfortunately for some shareholders, the Wells Fargo (NYSE:WFC) share price has dived 34% in the last thirty days...
(Bloomberg) -- Warren Buffett’s See’s Candies, which closed stores across the country to help contain the coronavirus, is now furloughing its retail workers.The candy maker, which has more than 240 retail locations in the U.S., will provide health benefits for eligible employees until the end of May, the company said Wednesday in a statement. See’s, which Buffett’s Berkshire Hathaway Inc. purchased in 1972, said it’s been paying employees for all scheduled hours over the past two weeks even as it was closing stores in areas such as California.See’s employed a total of 2,488 workers at the end of 2019, according to Berkshire’s annual report, although it’s unclear how many of those are affected by the furloughs.Employers across the country, including J.C. Penney Co. and Macy’s Inc., have furloughed workers in response to plummeting consumer spending, with cities throughout the U.S. telling people to stay at home and ordering businesses closed to stem the spread of the highly contagious virus. A record 3.28 million people filed for unemployment insurance in the week ended March 21, a figure that could be surpassed when new data is released Thursday.Buffett’s Berkshire, which has footholds in industries from insurance to energy, also owns scores of retailers, including jewelers, a party-supply company and a network of auto dealerships.“Closing our retail shops has taken a big toll at a critical time for See’s,” Chief Executive Officer Pat Egan said in the statement. “This decision was wrenching, but not being able to sell our product led us to this point.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- The chief executive officer of bankrupt PG&E Corp. earned $18.5 million in total compensation last year as the utility giant labored to emerge from Chapter 11.Bill Johnson, who joined the company in May, received $1.7 million in base salary, plus a $3 million bonus, $2.3 million in stock awards, $11.1 million in options and more than $400,000 in other compensation, according to a PG&E filing with the U.S. Securities and Exchange Commission Tuesday.The options have exercise prices of $25, $40 and $50. Johnson can only cash them in if the company’s stock price exceeds those thresholds. PG&E fell as much as 8.8% Wednesday to $8.70 per share.“Bill Johnson’s compensation plan is in line with those of other companies in similar situations,” PG&E said in a statement. “The compensation paid cannot by law be funded by customer rates.”Johnson’s predecessor, Geisha Williams, earned $3.4 million in total compensation for 2019, even though her tenure ended just 13 days into the year. It included about $190,000 in salary and a $2.6 million severance payment, according to the filing. Williams’s total compensation in 2018 was $9.3 million.The utility plunged into bankruptcy in January 2019, facing an estimated $30 billion in liabilities from deadly wildfires blamed on its equipment. Johnson steered the company through a tumultuous year that included shutting off power to millions of Californians during autumn wind storms to prevent more fires. The company is now pushing to emerge from bankruptcy by June 30.(Adds details of former PG&E CEO’s compensation in the fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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(Bloomberg Opinion) -- It’s finally over.Xerox Holdings Corp. announced late Tuesday that it is abandoning its tender offer to acquire HP Inc., citing the global health crisis from Covid-19 and the ensuing difficult market environment. The maker of photocopiers also called off its effort to enter into a proxy fight to replace HP’s board. It marks the end of a dramatic back-and-forth struggle that began last November, when Xerox began its pursuit of HP, the second-largest computer maker. HP has repeatedly rejected Xerox’s overtures, including its most recent offer, valued at about $35 billion. But while Xerox is blaming coronavirus, its attempt to take over a company more than three times its size never made much sense in the first place. Not only would it require tens of billions in inherently risky debt financing — the whole strategy of buying a secularly challenged business and relying primarily on cost savings was never a winner.In February, for example, HP reported a 7% decline in its printer revenue and a 10% drop in printer-hardware unit sales for its fiscal first quarter ended in January. Cost cutting is not going to save this troubled business. Xerox wasn’t much better when it posted a sales decline for its December quarter.Both companies should instead focus on figuring out new growth strategies for their respective businesses, instead of being distracted by M&A and financial engineering.Adding two dinosaurs together was never going to magically make a new tech behemoth.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tae Kim is a Bloomberg Opinion columnist covering technology. He previously covered technology for Barron's, following an earlier career as an equity analyst.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Xerox announced today that it would be dropping its hostile takeover bid of HP. The drama began last fall with a flurry of increasingly angry letters between the two companies, and confrontational actions from Xerox, including an attempt to take over the HP board that had rejected its takeover overtures. All that came crashing to the ground today when Xerox officially announced it was backing down amid worldwide economic uncertainty related to the COVID-19 pandemic.
(Bloomberg) -- Xerox Holdings Corp. ended its hostile takeover bid for HP Inc. because of uncertainty stemming from the Covid-19 pandemic, marking a blow to the photocopier company’s efforts to stimulate future growth.The Norwalk, Connecticut-based company will withdraw its tender offer to HP shareholders and stop an effort to win a slate of board directors. Xerox believes the underlying logic behind a combination remains sound and may revisit the idea in the future, said a person familiar with the issue who asked not to be identified discussing company deliberations.“The current global health crisis and resulting macroeconomic and market turmoil caused by Covid-19 have created an environment that is not conducive to Xerox continuing to pursue an acquisition of HP Inc.,” Xerox said Tuesday in a statement. “While it is disappointing to take this step, we are prioritizing the health, safety and well-being of our employees, customers, partners and other stakeholders, and our broader response to the pandemic, over and above all other considerations.”HP, the world’s second-largest computer maker, has repeatedly rebuffed Xerox’s cash-and-stock offers, most recently valued at an estimated $35 billion. In the most recent proposal, an HP holder would have received $18.40 in cash and 0.149 Xerox shares. The offer was set to expire April 21.“We remain firmly committed to driving value for HP shareholders,” the Palo Alto, California-based company said in a statement. “We have a healthy cash position and balance sheet that enable us to navigate unanticipated challenges such as the global pandemic now before us, while preserving strategic optionality for the future.”HP had earlier implored shareholders to reject the tender offer and Xerox board nominees, suggesting that a debt-enabled combination would be “disastrous” for the hardware giant in the current economic environment.HP’s shares fell 1.5% in extended trading after closing at $17.36. Xerox’s stock was little-changed after ending Tuesday’s session at $18.94. The news of Xerox’s decision was reported earlier by the Wall Street Journal.Xerox, which has reported falling revenue, had hitched its future to an acquisition. The company expected that combining the companies would yield $2 billion in cost savings and more than $1 billion in additional revenue growth. Both hardware companies invented technologies still in use by consumers and office workers, and have struggled in a world increasingly driven by software.HP’s board characterized Xerox’s offers as undervaluing the company, and said it will return $16 billion to shareholders in an effort to show HP can stand on its own.Xerox criticized HP for failing to enter into substantive talks that could have led to a merger.“The refusal of HP’s Board to meaningfully engage over many months and its continued delay tactics have proven to be a great disservice to HP stockholders, who have shown tremendous support for the transaction,” Xerox said.(Updates with comment from HP in the fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Berkshire Hathaway Inc. (BRK.B) closed the most recent trading day at $182.83, moving -0.19% from the previous trading session.
Xerox's decision came after it said earlier this month it would postpone meetings with HP shareholders to focus on coping with the coronavirus pandemic. It represents a victory for HP CEO Enrique Lores, who faced a takeover battle as soon as he took over the reins of the Palo Alto, California-based company in November, and a defeat for Xerox CEO John Visentin, a former Hewlett-Packard and IBM Corp executive with ties to the private equity industry who took over as Xerox CEO in 2018. It is also a blow for billionaire investor Carl Icahn, who owns big stakes in both companies and had pushed for their merger.
(Bloomberg Opinion) -- This is a market for Warren Buffett, and U.S. investors sure could use some of his positive vibes right now. So where is America’s biggest booster and hungriest dealmaker?Buffett, the chairman and CEO of Berkshire Hathaway Inc., has been noticeably quiet since an explosion in coronavirus cases sent much of the populace into self-isolation and the country hurtling toward a recession. New York City, the capital of finance, is the new epicenter of the outbreak. But even 1,200 miles west in Buffett’s more airy state of Nebraska, the number of known infected residents is approaching 200, showing just how widespread it’s become.Buffett’s age — he’ll turn 90 in August — puts him among those most at risk of severe complications from the virus. (He was also treated for early-stage prostate cancer in 2012.) It may be that he’s avoiding in-person interviews for safety reasons, as he should. Nobody wants to be the one who gave the world’s most celebrated businessman and philanthropist Covid-19 and set in motion the most momentous CEO transition of our time. Still, with so much panic and prognosticating about the damage the pandemic might inflict on the economy, investors could use Buffett’s habitual reminder of his unwavering belief in American prosperity. In 2008, amid the last recession, and again in 2010, Buffett signed off both his annual letters to shareholders saying that he and Charlie Munger — his longtime business partner and the 96-year-old vice chairman of Berkshire — were “lucky beyond our dreams” in part for being born in the U.S.Berkshire’s own investments are like a cross-section of the U.S. economy, with large stakes in airlines, banks, grocery stores and makers of consumer goods — even tech giants Amazon.com Inc. and Apple Inc. About $70 billion of value has been erased from its stock portfolio since mid-February (though we don’t yet know what Buffett bought and sold during the first quarter). The conglomerate also has outright ownership of one of the nation’s most expansive freight railway systems and a giant utility network, as well as businesses that sell everything from furniture and modular homes, to airplane-engine parts and various types of insurance. Shares of Berkshire itself are down 18%, headed for their worst year — like many other stocks — since 2008. “If you stick around long enough you’ll see everything in markets, and it may have taken me to 89 years of age to throw this one into the experience,” a still chipper Buffett said on Yahoo Finance during his last televised interview. That was March 10, before the virus situation became so dire that states stretching from California to Massachusetts began issuing stay-at-home orders to buy time for hospitals running out of ventilators and other crucial equipment.Three days later, Buffett announced he was canceling the festivities associated with Berkshire’s annual meeting to be held in Omaha in May. No investors are allowed to attend (they’ll have to stream it online). That means no shopping for See’s Candies, no posing with Buffett cardboard cut-outs, no running in the Brooks 5K and no sightings of the man himself for the tens of thousands of fans who show up each year wondering if it’s their last chance to see him up close.Buffett really has seen it all, though, which for him diminishes the frightful nature of events that to the rest of us seem so unprecedented in their gravity. When the Black Monday crash hit in October 1987, Buffett was already 57 years old. During World War II, when the news headlines couldn’t have been worse, he bought his first shares of stock as a kid — dumping them only four months later. At the 2018 Berkshire shareholder meeting, Buffett recounted the lesson he learned from that. Here’s a condensed version:Imagine yourself back on March 11, 1942. … I’d like you to imagine that at that time you had invested $10,000 … to hold a piece of American business and never look at another stock quote. … You’d have $51 million [now] and you wouldn't have had to do anything. … All you had to do was figure that America was going to do well over time, that we would overcome the current difficulties. … It’s just remarkable to me that we have operated in this country with the greatest tailwind at our back.In some ways, this is the market he’s been waiting for — a chance to finally scoop up durable, if temporarily beaten down, businesses on the cheap and put Berkshire’s $128 billion pile of cash to work. Likewise, private equity firms will be on the prowl, too. Financial buyers, including Berkshire, are already eyeing vulnerable targets in the travel, lodging and entertainment industries, the Wall Street Journal reported Tuesday, citing unnamed sources. Here are others that fit the mold of a Berkshire takeover target, based on criteria Buffett has spelled out in the past: In recent years there were too many competing acquirers willing to pay prices Buffett thought were absurd. Now, many are looking to conserve capital; others receiving assistance from the federal stimulus package may be more limited in their financial maneuvers. So where President Donald Trump opened a window to dealmaking with this more lax antitrust regulation, the virus has shut the door. Merger-and-acquisition activity is already down 24% globally this year, while in the U.S. it’s retreated 31%. The S&P 500 index now has a price-to-earnings ratio of 17, compared with more than 22 in February.“It would be more fun if the phone would ring,” Buffett said in 2017 at the start of his M&A dry spell. It's sure to be ringing now as large corporations seek cash and the glow of the Buffett halo. Banks are quietly discouraging investment-grade borrowers from tapping their existing credit lines, according to a Bloomberg News report Monday. Berkshire played the role of a bank last year, providing $10 billion of financing to Occidental Petroleum Corp. in return for high-yielding preferred stock. As my colleague Liam Denning has noted, even though the oil crash recently forced Oxy to slash its regular dividend, Berkshire still receives its fat check.Though it may be no mystery how Buffett views America’s ability to get through this latest crisis, it’s anyone’s guess where he’ll deploy his billions in it. Whatever the case, he should do his elephant hunting from home. This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Investing.com - Xerox will reportedly pull its bid to buy rival HP amid concerns about its financial ability to pull off the deal in the wake of the coronavirus-led economic disruptions.