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Stock Market & Financial Investment News

News Breaks
March 28, 2014
16:46 EDTBIDThird Point urges Sotheby's stockholders to vote for Third Point board nominees
Third Point's Daniel Loeb wrote in a letter to Sotheby's stockholders, "We urge you to elect the Third Point nominees to the company’s board because we believe that election of new members to the board would be beneficial to the company and its stockholders. We believe that the Third Point nominees will bring to the board necessary and valuable experience in corporate restructuring, optimizing capital allocation, cultivating relationships with luxury customers, and unlocking value for stockholders."
News For BID From The Last 14 Days
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January 21, 2015
15:41 EDTBIDSotheby's Q1 catelogs accelerating topline potential, says Stifel
Stifel said Sotheby's may be regaining some traction and believes Q1 catalogs indicate accelerated top-line trend potential. The analyst said upcoming aggregated auction estimates imply sales up 9% year-over-year vs. the firm's prior estimate of +6%. Stifel believes Sotheby's is a mispriced trophy asset with potential improved execution and balance sheet structure. Shares are Buy rated with a $50 price target.

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