Wall St Weekahead-Switch it up this year: Buy in May, till November stay
NEW YORK, May 26 "Sell in May and go away" is perhaps the oldest saw on Wall Street, but it appears there's no shortage of U.S. mutual funds doing exactly that this year.
Feb 25 A union pension adviser plans to meet with Hewlett-Packard Co officials on Monday to air concerns about their corporate oversight, according to a person familiar with the matter.
The meeting follows criticism by the adviser, CtW Investment Group, of Hewlett-Packard and its audit committee last month over problems like the company's troubled acquisition of UK software company Autonomy.
A statement sent by CtW on Monday and obtained by Reuters reiterated its criticism of the deal and said "HP's board has continued to display poor judgment, a lack of accountability, and poor oversight of critical functions" despite an overhaul just over two years ago after the departure of the prior chief executive, Mark Hurd.
In the statement, the adviser blamed three directors, including Executive Chairman Raymond Lane, for what it called "continued strategic and governance challenges."
It called for the appointment of a new outside auditor to address what it called concerns over the independence of the audit function.
The source described the meeting, which will include other investors, on condition of anonymity because it was not publicly announced.
CtW, affiliated with the labor group Change to Win, advises union pension funds with roughly $200 billion in assets.
Change to Win is a federation of U.S. unions with 5.5 million members pushing to organize and represent workers in sectors like health care, hotels and ports.
NEW YORK, May 26 (In May 24 item, corrects headline and first sentence to reflect that Wells Fargo Advisors will begin offering the shares, but did not create them)
* Blackrock says shareholder proposal on production of annual report on some trade association & lobbying expenditures not approved at meeting - SEC filing