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Stock Market & Financial Investment News

News Breaks
January 29, 2014
08:46 EDTBIDMarcato says Sotheby's can 'comfortably' return more capital to shareholders
Marcato Capital Management , who owns 6.6% of the common shares outstanding of Sotheby’s, issued the following statement from Mick McGuire, Founder and Managing Partner of Marcato. McGuire said “Today's announcement is a modest step in the right direction, but Sotheby’s can comfortably return more capital to shareholders and do it more quickly than under its proposed plan. Sotheby’s can and should return a total of $1B of capital to shareholders within 12 months using the earnings generated in 2013 and 2014, excess cash on the balance sheet, and capital released from appropriate financing of its Financial Services business and its real estate. Sotheby’s can return this capital to shareholders and still maintain more than adequate liquidity to meet its long-term strategic objectives. We encourage our fellow shareholders to continue to press this Board and management team to act urgently and return significant additional capital in 2014.”
News For BID From The Last 14 Days
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November 21, 2014
10:34 EDTBIDSotheby's gaps up, runs higher, as CEO Ruprecht steps down
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09:17 EDTBIDOn The Fly: Pre-market Movers
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07:20 EDTBIDSotheby's CEO change positive, says Stifel
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November 20, 2014
17:28 EDTBIDSotheby CEO William F. Ruprecht to step down
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November 19, 2014
12:25 EDTBIDChanos says risks are rising for Sotheby's, Bloomberg reports
Bloomberg cites comments made by Jim Chanos of Kynikos Associates at the Sohn London conference. Shares of Sotheby's are down 1.5% in afternoon trading.
November 12, 2014
10:39 EDTBIDSotheby's contemporary art results 'decent,' says Barrington
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November 11, 2014
06:23 EDTBIDSotheby's sells Mellon collection pieces for $158.7M, WSJ reports
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November 10, 2014
08:10 EDTBIDSotheby's reports Q3 net auction sales up 26%
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08:08 EDTBIDSotheby's reports Q3 EPS (40c), consensus (38c)
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