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Stock Market & Financial Investment News

News Breaks
April 25, 2014
08:33 EDTBIDSotheby's to mail letter to shareholders, again urges vote for director nominees
Sotheby's announced that it is mailing a letter to its shareholders in connection with the upcoming 2014 Annual Meeting, highlighting its beliefs that Sotheby's continues to deliver strong financial performance and superior value creation; Sotheby's preliminary results for Q1 demonstrate successful execution; Mr. Loeb has offered no strategy to create value and has made no case that change is warranted at Sotheby's; and Loeb's pattern of disruptive behavior has negatively impacted Sotheby's business and relationships.
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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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