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Stock Market & Financial Investment News

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April 17, 2014
13:47 EDTBIDSotheby's issues presentation refuting Third Point's claims
Sotheby's issued an investor update presentation refuting claims made by Dan Loeb's Third Point, which holds a considerable stake in the company and is seeking to place members on the company's board, among other things. Sotheby's said, in part, that it has, "consistently delivered strong, long-term performance and is executing a clear strategy to drive continued growth and profitability." The company said that its FY13 revenue grew 11% with earnings growing 20%, and the company notes that Loeb has said the company did not have a strong FY13. Sotheby's said that it does not believe Loeb possesses the long-term focus necessary to drive value for all shareholders of the company. Shares of Sotheby's are unchanged in afternoon trade. Reference Link
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May 11, 2015
07:12 EDTBIDSotheby's reports Q1 adjusted EPS 11c, consensus 0c
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May 8, 2015
13:34 EDTBIDSotheby's technical comments ahead of earnings
The shares made a strong advance off the October lows of last year, with a continuation of that trend into February of this year. Since then price has been more range-bound with a low of $40 and a high of $45. Breaks of either end of this range may therefore give some sense of where the stock could go post-earnings. If the news is bullish and there is a breakout above $45 it would resolve the range bullishly and reconnect to the prior uptrend. Additional resistance levels to watch as potential upside objectives would be at $46.65, $48.57, and the $50 area. If the news is bearish, we could expect to see a drift down to the range low at $40. It might take extreme negative news to break support at that level, in which case the following supports could become downside objectives: $38.21, and $37.08.

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