The drama at Salesforce picks up a notch.
The rally of 2023 continued on Thursday, with the biggest gains seen in the Nasdaq Composite (NASDAQINDEX: ^IXIC) as more key companies continued to release favorable earnings reports. The Dow got its biggest contributions from a pair of companies in very different industries. Oil giant Chevron (NYSE: CVX) announced shareholder-friendly plans for its capital that were both impressive and raised eyebrows among certain market participants.
Elliott Management Corp, the activist investment firm that recently made a multimillion-dollar investment in Salesforce, plans to nominate several director candidates at the cloud-based software company, people familiar with the matter said on Thursday. Elliott, which invests more than $55 billion, is currently interviewing a number of people including technology industry executives and executives in other industries, the people said. The decision to prepare a slate of candidates who can be nominated between February 12 and March 14, could signal a change of direction at Elliott.