Friday, 19 December 2014
Last updated 1 hour ago
Jan 28 2014 | 1:12am ET
A second activist hedge fund is taking aim at Juniper Networks.
Jana Capital has called on the computer networking company to cut costs and return capital to investors. The hedge fund warned that it believes "the board would benefit from the addition of new directors with a fresh perspective."
Jana's approach follows that of Elliott Management, which like Jana has taken a large stake in Juniper and has made similar demands of the company.
Jana said that Juniper has an "unfocused product line, a lazy balance sheet and share price underperformance." The hedge fund accused the company of being "overcapitalized… even by Silicon Valley standards," adding that it should get rid of certain business lines.
New York-based Jana has also recently taken stakes in Airbus Group, calling it "the superior opportunity within aerospace" and comparing it calling it an even better bet than Boeing Co., which the hedge fund invested in a year ago.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.