- Activist hedge fund firm JANA Partners says is investing in Cameron International (CAM) - it hasn't yet disclosed the size of its new stake - because it believes CAM's problems are "self-inflicted, temporary and remediable" after consistently missing earnings expectations last year despite record backlog and revenues.
- CAM's sale earlier this week of its high-horsepower natural gas gathering and processing equipment business to GE was the company’s first step “to rationalize [its] portfolio," the hedge fund says.
- Barry Rosenstein’s firm has pushed other oil and gas companies to make moves to increase shareholder value, most recently urging Oil States to spin off its oil field housing and accommodations business.
JANA: Cameron should outperform oil service peers with more asset sales
Jan 24 2014, 16:58 ET