BLK

Individual investors are backing a new underdog, Avaya Holdings Corp. , pumping up the software company’s downtrodden stock by about 200% over the past month and confounding Wall Street professionals. Avaya’s fans include day traders who congregate on Reddit and Twitter forums, and a 35-year-old software entrepreneur who has snapped up a 15% stake. They are facing off against a group of large fund managers such as Apollo Global Management Inc. and Ares Management Corp. that could benefit if the…

When Kristin Peck was named chief executive of animal-health company Zoetis Inc. in January of 2020, she had a 100-day plan. Covid-19 threw that plan into disarray.Ms. Peck, 50, quickly reset. She focused on being empathetic, listening to employees and customers and trying to address the challenges of that period by not using the pandemic as a reason to lay off workers. Zoetis employs roughly 12,000 people who make medicines, vaccines, diagnostics and…

Investors expect concerns about hot inflation and strapped consumers to dominate the corporate-earnings season that kicks off this week, creating winners and losers in the battered stock market.Stocks have come under pressure this year with inflation hovering at a four-decade high and the Federal Reserve in the midst of an aggressive campaign to raise interest rates to rein it in. The S&P 500 has fallen 18% in 2022, even after rallying 3% to start July. Tightening monetary policy has slashed…

A fund backed by private-equity firm Blackstone Inc. BX 2.92% has purchased the rights to Justin Timberlake’s song catalog in the venture’s largest music-rights acquisition so far, fund executives said.Terms of the deal, which was done in partnership with music-investment company Hipgnosis SONG 0.54% Song Management Ltd., weren’t disclosed. People familiar with the matter said it is valued…

McDonald’s Corp. MCD 2.74% is poised to prevail in a proxy fight with activist Carl Icahn, who challenged the fast-food chain over its suppliers’ treatment of pregnant pigs, people familiar with the matter said. Early vote tallies show McDonald’s far ahead of Mr. Icahn, who had nominated two directors to the company’s board, the people said. Votes will continue coming in…