CFO Moves: Destination Maternity Corp., The Wet Seal LLC, Xenia Hotels & Resorts Inc.
Destination Maternity Corp. CFO resigned to join The Wet Seal LLC, Xenia Hotels named new CFO.
CFO Journal
Governance
More Companies Placing Limits on Director Pay
A growing number of Fortune 500 companies are putting limits on the stock awards they give directors, according to Willis Towers Watson PLC, a risk advisor and consulting firm. But the companies aren’t trying to keep directors’ pay low, so much as protecting directors from lawsuits.
M&A
In Starwood Deal, Conventional Wisdom Upended
The current bidding war for Starwood Hotels & Resorts Worldwide Inc. challenges traditional wisdom.
Companies Invent Their Own Performance Benchmarks
Many companies are changing the benchmarks they use to define success. As they adjust to new delivery methods or changing consumer tastes, finance chiefs are rethinking what metrics they share with investors.
The Big Number
650: Tally of 2015 private-equity deals that involved a minority stake
CFO Moves
CFO Moves: Pandora, HCP Inc., Medivation
Pandora Media gave its finance chief the added role of president; HCP's CFO is departing for a president role at another company; Medivation named a new CFO.
Capital
Why A Piece of Yum Looks Tasty To Private Equity
When it comes to deal-making, private equity firms may be able to do more with less—or at least just as well.
Governance
Starboard Fight Pressures Yahoo’s Finance Chief
Ken Goldman probably wouldn't want to write his swan song at Yahoo Inc. the way activist investor Starboard Value LP put it Thursday. His legacy could be tarnished, depending on how the company’s fight with Starboard and its restructuring plan turn out.
Tax
Reported China-Stake Sale Would Save Yum From Costly Taxes
Selling a portion of its China business is likely to give Yum Brands Inc. and its shareholders more bang for their stock.
FASB
Valuing Intangibles Doable, Despite Resistance
Company executives and investors say that recording values for intangible assets like brand names and customer data is time consuming and difficult. That’s why many resist the idea of having to bring them onto their balance sheets.
M&A
Antitrust Risk Low, Valspar May Be Getting a Deal
Valspar Corp. shareholders may get a big payoff by accepting a relatively small dose of risk.
Latest News
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Starwood’s Chinese Bidder Remains Opaque Both at Home and Abroad WSJ
Beijing’s Anbang, locked in a bidding war with Marriott over Starwood Hotels, has a complicated web of investors that is difficult to unravel.
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Stocks Gain as Yellen Signals Slow Pace on Rates WSJ
U.S. stocks and government bonds rose while the dollar fell Tuesday after the Fed’s Janet Yellen said global economic uncertainty warranted a cautious approach to raising interest rates.
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Yellen: Global Uncertainty Justifies Slower Path of Rate Increases WSJ
Global uncertainty has heightened the risk to the U.S. economy, making a cautious approach to rate increases “appropriate,” the Fed’s Janet Yellen said.
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Western Digital Bond Sale Is Test for Junk Market WSJ
Western Digital is offering investors higher yields on $5.6 billion in junk bonds backing its takeover of SanDisk, the latest sign that demand for low-rated debt remains mixed despite a market rally over the past six weeks.
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HP Enterprise Explores ‘Persistent Memory’ for Chips WSJ
Hewlett Packard Enterprise is betting on a new approach to memory that it says can bring dramatic speed improvements to companies wrestling with growing troves of data.
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3M Targets New Products To Aid Sales Growth WSJ
3M Co. is counting on offsetting modest sales growth in the coming years with lower costs and hiving off new products from its well-known consumer brands and industrial materials.
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Telefónica CEO César Alierta to Step Down WSJ
Telefónica Chairman and CEO César Alierta is stepping down after nearly 16 years at the helm of one of Spain’s largest companies, the telecommunications giant said.
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Colgate Shuffles Leadership, Sets Up Race to Succeed CEO Cook WSJ
Colgate-Palmolive Inc. promoted two company veterans as part of a plan to line up an eventual successor to Chief Executive Ian Cook, who has run the company for nine years, according to people familiar with the moves.
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Hackers Breach Law Firms, Including Cravath, Weil Gotshal WSJ
Federal investigators are exploring whether the cybercriminals stole confidential information for the purpose of insider trading.
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U.S. Home Price Index Continued Steady Climb WSJ
Home prices continued rising at a steady clip in January, according to the S&P/Case-Shiller Home Price Index—another early sign that 2016 will offer more of the same in the housing market: tight inventory leading to rising prices and volatility in the volume of sales.
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Regulator Moves to Create New Fintech Framework WSJ
The Office of the Comptroller of the Currency is set to issue a so-called white paper this week aimed at kicking off a discussion on how best to regulate the fast-growing fintech sector.
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Energy Companies Pay Up to Raise Cash WSJ
Energy companies tapping the stock market to fill their coffers are deepening the pain for shareholders.
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Revlon Names New CEO After Saying It Was Exploring Options WSJ
Revlon appointed Fabian Garcia as chief executive, months after the cosmetics company said it was exploring strategic alternatives.
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U.S. Consumer Spending Rose a Lackluster 0.1% WSJ
American household spending rose modestly in the first two months of 2016 as consumers ramped up their savings, suggesting lackluster momentum for the broader U.S. economy headed into the new year. Inflation remained below the Fed’s target for the 46th consecutive month.
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NTT Data to Buy Dell’s IT-Services Arm for About $3 Billion WSJ
Japan’s NTT Data has agreed to buy Dell’s IT-services division for $3.05 billion, its latest effort to seek growth overseas.
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China’s Anbang Escalates Battle for Starwood Hotels WSJ
The battle for Starwood Hotels continued as the group led by China’s Anbang increased its bid for the hotelier to $14 billion, threatening Starwood’s deal with Marriott.
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Pending-Home Sales Jumped 3.5% in February WSJ
The number of existing homes that went under contract in the U.S. rose in February, a sign of steady momentum for the housing market.
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Avon Makes Deal With Activist Investors to Avoid Proxy Fight WSJ
Avon Products is nearing the settlement of a skirmish with activist investors that would enable the embattled beauty-products company to sidestep a proxy fight.
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Fear Amid the Market Rally: Investors Bet on Volatility WSJ
Some are so worried U.S. stocks will tumble that they are willing to lose money to protect themselves. Investors poured a record sum over the past month into exchange-traded funds whose value increases along with Wall Street’s so-called fear gauge.
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Banks Ramp Up Push for Home-Equity Lines WSJ
Lenders are trying to offset faltering mortgage originations and a fizzling refinancing wave. For borrowers, the move comes as home values continue to rise.
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Consumer-Spending Machine Needs More Fuel to Keep Pace WSJ
If the recent uptick in personal spending is to be sustained, it will have to be supported by continued gains in employment and income, not a dip in the saving rate.
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Hedge Funds for Retail Class Face Regulatory Reckoning WSJ
A flashy class of mutual funds that allow retail investors to tap into exotic strategies pioneered by hedge funds is colliding with the one force that threatens its growth: regulators on the hunt for systemic risk.
