Starboard Value, led by Jeff Smith, fully exited its positions in Salesforce and Autodesk in Q1 2026, shifting focus to Lamb Weston and CarMax. The hedge fund's activism helped Salesforce improve margins and execute a $25 billion share buyback before exiting. Lamb Weston and CarMax represent distressed consumer economy plays with cost-cutting and restructuring plans underway. CarMax has already seen leadership changes and raised savings targets, while Lamb Weston is mid-restructuring with operational improvements. This shift highlights Starboard's strategy of moving from software activism to turning around old-economy companies with clear cost-saving catalysts.
Adobe's stock dropped 9% to $198 after reporting record revenue of $6.62 billion and raising full-year guidance, but investors sold off due to the surprise CFO departure and worries about AI's impact on its subscription model. Despite strong cash flo...
Salesforce reported a record Q1 FY2027 with $11.13 billion in revenue, up 13.27% year-over-year, and non-GAAP EPS of $3.88, a 50% increase that beat expectations. Its AI and data segment saw annual recurring revenue (ARR) soar 200% to $3.4 billion, l...
Global investment in artificial intelligence has surged to $700 billion, driven by strong private sector funding and coordinated government initiatives worldwide. The U.S. led with $109.1 billion in private AI investments in 2024, while the EU and co...
