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Stock Market & Financial Investment News

News Breaks
April 2, 2014
08:12 EDTBIDSotheby's urges shareholders to vote for company director slate
Sotheby's announced a letter to shareholders in connection with the company's 2014 Annual Meeting of Shareholders, which will be held on May 6, urging shareholders to vote for the company's 12 director nominees. In the letter the company stated: "We believe your Board of Directors has the skills and expertise necessary to continue Sotheby's track record of success. Your Board is independent, active, engaged and focused on further increasing shareholder value. In contrast, we believe the interests of Sotheby's shareholders would be compromised if Third Point LLC is successful in replacing any of the members of your Board with any of its hand-picked nominees."
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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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