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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.”
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October 20, 2014
10:58 EDTBIDSotheby's Impressionist sale supply strong, says Barrington
Barrington said Sotheby's was a big winner of Impressionist consignments and that its supply for the auctions is "exceptionally" strong, noting that Christie's auction is much smaller in both size and value and that its Impressionist supply is below year-ago levels. Barrington said recent auction and art fair results give it confidence heading into November sales and the firm maintains its Outperform rating on Sotheby's.
October 7, 2014
10:02 EDTBIDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air France-KLM (AFLYY) upgraded to Overweight from Underweight at JPMorgan... Alcobra (ADHD) upgraded to Outperform at FBR Capital... Alon USA Partners (ALDW) upgraded to Buy from Neutral at Citigroup... Becton Dickinson (BDX) upgraded to Buy from Hold at Stifel... CNOOC (CEO) upgraded at Bernstein... CTC Media (CTCM) upgraded to Buy from Hold at Deutsche Bank... CVR Refining (CVRR) upgraded to Buy from Neutral at Citigroup... CalAmp (CAMP) upgraded to Outperform from Neutral at Macquarie... China Unicom (CHU) upgraded to Overweight from Equal Weight at Barclays... Crown Holdings (CCK) upgraded at Macquarie... Dick's Sporting (DKS) upgraded to Buy from Neutral at Goldman... Fortuna Silver Mines (FSM) upgraded to Outperformer from Sector Performer at CIBC... Franco-Nevada (FNV) upgraded to Buy from Hold at TD Securities... Horsehead Holding (ZINC) upgraded to Outperform from Market Perform at FBR Capital... Ingersoll-Rand (IR) upgraded to Buy from Neutral at Goldman... IntercontinentalExchange (ICE) upgraded to Buy from Neutral at Citigroup... International Paper (IP) upgraded at BofA/Merrill... Leidos (LDOS) upgraded to Neutral from Underperform at Credit Suisse... Lennox (LII) upgraded to Positive from Neutral at Susquehanna... MGM Resorts (MGM) upgraded to Buy from Hold at Deutsche Bank... Natus Medical (BABY) upgraded to Outperform at William Blair... Noodles & Company (NDLS) upgraded to Buy from Hold at Jefferies... Phillips 66 (PSX) upgraded to Buy from Neutral at Citigroup... RockTenn (RKT) upgraded to Buy from Neutral at BofA/Merrill... Smith & Nephew (SNN) upgraded to Hold from Sell at Societe Generale... Sotheby's (BID) upgraded to Buy from Hold at Craig-Hallum... Sun Life Financial (SLF) upgraded to Overweight from Equal Weight at Barclays... WellCare (WCG) upgraded at Sterne Agee... Yamana Gold (AUY) upgraded to Neutral from Underweight at HSBC.
08:52 EDTBIDSotheby's upgraded to Buy from Hold at Craig-Hallum
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