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EMEA Morning Briefing: Stocks to Open Lower; Oil -2-

February 17, 2022 at 05:39 am

Russia is continuing its military buildup around Ukraine, Western officials said, even as Moscow announced it had begun drawing down some troops and released footage of tanks and armored personnel carriers departing Crimea.

On Wednesday, the day some U.S. intelligence officials had said a Russian invasion was likely to occur, Ukrainians rallied across the country in a display of solidarity and defiance in morning ceremonies. A cyberattack rattled the country the previous day, targeting the Ministry of Defense and two of the biggest banks, temporarily disrupting payments and showing zero balances on accounts.

Hasbro Activist Begins Proxy Fight, Urges Wizards Unit Spinoff

A little-known activist investor is seeking to add several directors to Hasbro Inc.'s board and is urging the toy maker to make changes including a spinoff of its fast-growing unit housing games such as Dungeons & Dragons.

Alta Fox Capital Management LLC, which has a 2.5% stake in Hasbro worth roughly $325 million, has nominated five directors to its board, according to a letter viewed by The Wall Street Journal that will be sent to the company's shareholders. Shareholders will vote on director nominees at Hasbro's annual meeting this spring.

Nvidia Posts Record Sales Amid Broad Chip Demand

Nvidia Corp. posted record quarterly sales across its business and projected a further increase in the current period as it moves on from its failed takeover bid for semiconductor-design specialist Arm Ltd.

The graphics-chip maker on Wednesday said it generated $7.64 billion in sales in the most recent quarter, up 53% from the year-ago period. It reported $3 billion in net income, more than double the prior year's figure, and beat Wall Street expectations both on profit and sales.

Activist Investor Daniel Loeb Sees Roughly $1 Trillion of Untapped Value in Amazon

Activist investor Daniel Loeb, whose Third Point LLC counts Amazon.com Inc. as one of its biggest holdings, told investors on Wednesday that he sees roughly $1 trillion in untapped value at the e-commerce giant.

Mr. Loeb said on a private call with the hedge fund's investors that the market is failing to recognize the full value of Amazon's two disparate businesses, its core e-commerce operation and its Amazon Web Services cloud unit, according to people familiar with the matter. The call reviewed Third Point's 2021 performance and its outlook on markets and a number of stocks were discussed.

Write to sarka.halas@wsj.com

Expected Major Events for Thursday

05:30/NED: Jan Unemployment

07:00/SWE: 4Q Industrial inventories

07:00/EU: Jan New Passenger Car Registrations in Europe statistics (EU27 + EFTA3)

07:00/SWI: Jan Trade Balance

08:00/SPN: Dec Trade Balance

09:00/BUL: 4Q Labour force survey

09:00/BUL: 4Q Flash Estimate GDP

09:00/ITA: Dec Foreign Trade EU

11:00/POR: Jan PPI

11:00/TUR: Turkish interest rate decision

11:00/IRL: Jan CPI

11:00/IRL: 4Q Labour Force Survey

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This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

02-17-22 0038ET

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
BRENT CRUDE OIL SPOT	82.77 USD	+1.36%	-0.10%	-
WTI	78.45 USD	+1.74%	-0.61%	-
US DOLLAR / RUSSIAN ROUBLE	90.45 RUB	+0.28%	-0.26%	-
HASBRO, INC.	60.62 USD	+0.48%	-0.30%	8.4B
NVIDIA CORPORATION	1,036 USD	+9.11%	+0.34%	2,336B
AMAZON.COM, INC.	182.9 USD	-0.13%	-1.54%	1,906B

Daniel Loeb

Daniel Seth Loeb (born December 18, 1961) is the founder and chief executive of Third Point LLC, a New York-based hedge fund with $12.9 billion in assets.

Biography
Loeb was raised in a Jewish family in the Los Angeles area, one of three children of Ronald and Clare Spark Loeb. His father was a partner at the Los Angeles law firm of Irell & Manella LLP and general counsel for Williams-Sonoma. His mother is a historian. Loeb’s great-aunt, Ruth Handler, created the Barbie doll and co-founded Mattel Inc.

According to Bloomberg Markets Magazine, Loeb grew up in Santa Monica Canyon in California, and attended Palisades Charter High School, commonly known as 'Pali High' in the Pacific Palisades neighborhood of Los Angeles. Later, he attended University of California at Berkeley for two years before subsequently graduating from Columbia University with a degree in Economics.

Prior to founding Third Point in 1995, Loeb worked at Citicorp and Warburg Pincus.

He is also a founding Master Player of the Portfolios with Purpose virtual stock trading contest.

Opinions

Loeb is well known in the financial world for writing public letters, in which he expresses disapproval of the performance and conduct of other financial executives. Supporters contend his letter writing is effective shareholder activism; critics counter that his letters are distracting for executives and uncomfortable for investors. Less than 10% of Third Point's total assets under management goes to shareholder activism.

Loeb has argued that the United States government is undergoing a 'crisis of leadership'; in his opinion, the administration of President Barack Obama is committed to 'redistribution rather than growth'.

In 2013, Loeb was a signatory to an amicus curiae brief submitted to the Supreme Court in support of same-sex marriage during the Hollingsworth v. Perry case.

Source @ Wikipedia

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Linked companies
Third Point Ventures LLC Third Point Ventures LLC Investment ManagersFinance Third Point Ventures LLC is a venture capital firm, a subsidiary of Third Point LLC founded in 1995 by Daniel Seth Loeb. The firm is headquartered in Menlo Park, California.	Chief Executive Officer
Third Point LLC Third Point LLC Investment ManagersFinance Third Point LLC is a SEC-registered investment adviser and hedge fund manager headquartered in New York City. The firm was founded in 1995 by Daniel S. Loeb and is a subsidiary of Third Point LP. Third Point provides discretionary investment advisory services to a variety of domestic and offshore private investment vehicles, single private equity-style fund and a separately-managed institutional account.	Chief Executive Officer

Linked companies