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Stock Market & Financial Investment News

News Breaks
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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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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