Fri, Apr. 22, 12:36 PM
- Comerica (CMA +3.9%) for too long has failed to earn acceptable returns, needs to cut costs dramatically, and explore whether a sale is the best option, a number of typically publicity-shy investors tell the WSJ.
- There's also activist fund Hudson Capital, which prefers to do its work behind the scenes, letting it be known its belief that a sale should be considered.
- Toss in CLSA bank analyst Mike Mayo, who upgraded the stock a month ago after fielding calls from investors about forcing a sale. He's urging shareholders to speak out at the bank's annual meeting next week.
- “I know that we must earn our right to remain independent every day,” said CEO Ralph Babb on this week's earnings call.
- Previously: Comerica on the move on rumor of sale (April 22)
- Now read: Comerica's (NYSE:CMA) CEO Ralph Babb on Q1 2016 Results - Earnings Call Transcript (April 19)
Fri, Apr. 22, 11:48 AM
- A number of sizable Comerica (CMA +2.4%) owners are urging for the bank to be sold, according to Dow Jones.