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Stock Market & Financial Investment News

News Breaks
July 14, 2014
06:35 EDTEBAY, BIDSotheby's, eBay to stream auctions, NY Times reports
Sotheby's (BID) and eBay (EBAY) intend to announce that they will cooperate to stream most of Sotheby's New York auctions on eBay's website, according to The New York Times. The announcement is expected to be made later today, the newspaper stated. Sotheby's plans to eventually allow eBay to also stream online only auctions and auctions occurring in other cities, the newspaper added. Reference Link
News For BID;EBAY From The Last 14 Days
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March 2, 2015
13:07 EDTEBAYPayPal reveals new physical card reader, Venture Beat says
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12:38 EDTEBAYeBay CFO comments on the planned separation with PayPal
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11:18 EDTEBAYPayPal plans to acquire mobile payment startup for $280M, Re/code says
eBay's PayPal plans to acquire mobile payment startup Paydiant for roughly $280M, reports Re/code, citing multiple sources. The deal is expected to close in March or April. Reference Link
08:09 EDTBIDSotheby's reports Q4 adjusted EPS $1.12, consensus $1.28
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February 27, 2015
14:32 EDTBIDSotheby's technical remarks ahead of earnings
In the last several months the shares have made a strong rebound from the 52-week low at $34.74. At time of writing the shares are close to the middle of the 1-year range, with $49.05 at the high. The $45 area has been an important support and resistance zone over this period, and the stock is trading close to that level. On strongly positive news, a move above $45 would further reinforce the current recovery in price, with the following resistance levels becoming potential upside objectives: $46.98, $49.05, and $50.25. If the news disappoints, the first test of support of significance would be at the 50-day moving average which was last at $43.03. Next supports below would be at $41.93, $39.98, and $38.11.
11:15 EDTBIDMarcato files challenge to Sotheby's confidential treatment
Marcato Capital Management, which holds a 9.53% stake in Sotheby's, stated in a regulatory filing that it has provided notice of its challenge to the confidential treatment of certain information in legal filings related to the company. Marcato stated: "This action involved a dispute between a large shareholder of Sotheby’s and members of its Board of Directors. The resolution of this dispute was announced on May 5, 2014, but completely unredacted versions of certain filings remain unavailable to the public. Marcato believes that the redacted information, given the context, does not appear to be the type of proprietary information that this Court has determined warrants protection under Rule 5.1 and, in any event, sufficient time has passed since this action has concluded to warrant unsealing. During that time, Sotheby’s announced that CEO William Ruprecht, the source and subject of much of the redacted language, will be stepping down. Therefore, maintaining the confidentiality of these documents can no longer be justified."
February 26, 2015
08:09 EDTEBAYeBay price target raised to $65 from $61 at RW Baird
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08:06 EDTEBAYeBay files Form 10 related to planned PayPal spin-off
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February 24, 2015
11:40 EDTEBAYStocks with call strike movement; MU EBAY
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06:39 EDTEBAYVisa Europe announces 'tokenisation service'
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February 23, 2015
06:21 EDTEBAYFacebook's shuttle drivers approve new union contract, WSJ reports
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February 20, 2015
17:50 EDTBIDSotheby's to deter capital allocation decisions until new CEO selected
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14:30 EDTBIDMarcato filing confirms request for Sotheby's buyback, potential CFO search
Marcato Capital Management reported a 9.53% stake in Sotheby's and disclosed in a regulatory filing that it sent a letter to the company's board. In its letter, Marcato states: "In the 18 months since Marcato’s initial investment in Sotheby’s, we have outlined numerous opportunities both publicly and privately for Sotheby’s to use its capital more intelligently to create shareholder value. Despite our dialogue with you and other members of the board, a substantial portion of Sotheby’s invested capital continues to earn a poor return or worse yet, earns no return at all...We submit that any new CEO’s first order of business may need to include the recruitment of a new CFO who will serve the interests of shareholders rather than defend misguided policies of the past...Today, we present a specific and straightforward roadmap that we believe can immediately release $12.33 per share without materially affecting the company’s continued earnings power. With this increased flexibility, we recommend the immediate repurchase of $500M of Sotheby’s shares...As one of Sotheby’s largest shareholders, we also look forward to a thorough discussion with its new CEO regarding the importance of intelligent capital allocation in creating value for shareholders."
10:13 EDTBIDMarcato sends letter to Sotheby's board, CNBC's Kelly reports
Richard McGuire's Marcato Capital Management sent a letter to the board of Sotheby's, which now includes Third Point's Dan Loeb, pressuring for a CFO change and more leadership, CNBC's Kate Kelly reports. Shares of the auction house moved higher following the report and are up 11c to $44.11 in early trading.
10:08 EDTBIDMarcato applying activist pressure to Sotheby's, CNBC's Kelly reports
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February 18, 2015
18:06 EDTBIDSotheby's acquires 25% interest ownership interest in RM Auctions
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15:15 EDTEBAYAngie's List could be more attractive to buyers given traction, says Barrington
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February 17, 2015
17:06 EDTEBAYIcahn gives quarterly update on stakes, takes new stake in Manitowoc
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10:00 EDTBIDOn The Fly: Analyst Downgrade Summary
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06:17 EDTBIDSotheby's downgraded to Market Perform from Outperform at Cowen
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