United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Westpac Director Peter Nash Avoids Major Investor Backlash Amid ASX Scrutiny 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
Nvidia Develops New Location-Verification Technology for AI Chips 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations 
Activist hedge fund Starboard Value has acquired more than a 9% stake in Tripadvisor Inc. (NASDAQ:TRIP), according to a Wall Street Journal report published Wednesday. Citing sources familiar with the matter, the report valued the investment at approximately $160 million, positioning Starboard among the travel platform’s largest shareholders. While the firm’s strategic intentions remain unclear, the move has sparked investor interest.
Tripadvisor shares surged following the news—rising 6% in after-hours trading and closing up 8% on Wednesday. Despite this rally, the stock has faced pressure in 2024 due to weakening growth in its core travel review website. However, the company’s newer ventures, including Viator (its tours and activities platform) and TheFork (its restaurant booking service), have shown strong revenue momentum, offering potential growth avenues.
Starboard’s involvement comes after reports that Tripadvisor rejected multiple acquisition offers over the past year, highlighting its strategic independence. The hedge fund, led by Jeff Smith, is known for pushing performance improvements and strategic shifts in underperforming companies. Its stake is expected to be formally disclosed on Thursday.
With Tripadvisor navigating a competitive online travel landscape and mixed performance across its product lines, Starboard’s entry could signal potential changes. Investors are closely watching for signs of possible restructuring, divestitures, or leadership changes, common tactics in Starboard’s playbook.
The timing of the investment—following a year of M&A interest and business unit divergence—suggests Starboard sees untapped value in Tripadvisor’s diversified portfolio. The company's recent share price rebound could also reflect renewed market optimism fueled by Starboard’s involvement.
