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In 2008 the US railroad company CSX won a court case against the Children's Investment Fund and 3G Capital Partners, another hedge fund, after the funds announced that they had acquired about 20% of CSX's stock. [9] TCI succeeded in electing four of its five directors to the CSX board, but CSX shares declined by about 50 percent after the meeting.
Conrail was the primary Class I railroad in the Northeastern United States between 1976 and 1999. The trade name Conrail is a portmanteau based on the company's legal name (Consolidated Rail Corporation), and while it no longer operates trains it continues to do business as an asset management and network services provider in three Shared Assets Areas that were excluded from the division of ...
As discussed in CSX Corp. v. The Children's Investment Fund Management, TCI argued that it was not the beneficial owner of the shares referenced by its total return swaps and therefore the swaps did not require TCI to publicly disclose that it had acquired a stake of more than 5% in CSX. The United States District Court rejected this argument ...
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Railway operator CSX (CSX) said second-quarter profit increased 47% or $414 million from the previous quarter. CSX had predicted a 96 cents a share increase, but exceeded expectations with the $1. ...
Trailing twelve months (TTM) is a measurement of a company's financial performance (income and expenses) used in finance. It is measured by using the income statements from a company's reports (such as interim, quarterly or annual reports), to calculate the income for the twelve-month period immediately prior to the date of the report. This ...
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Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the value of the firm to the shareholders, and the tools and analysis used to allocate financial resources.