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December 17, 2013
10:04 EDTCHD, TRIP, HAWK, VNCE, IRM, RDEN, ANDE, Z, TGI, MEP, CBST, ADM, RHT, OXFD, EVGNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Church & Dwight (CHD) initiated with a Hold at KeyBanc...Cubist (CBST) initiated with an Outperform at JMP Securities...Eastman Chemical (EMN) initiated with a Buy at UBS...Elizabeth Arden (RDEN) initiated with a Hold at KeyBanc...Evogene (EVGN) initiated with a Buy at Deutsche Bank...Iron Mountain (IRM) initiated with a Hold at Jefferies...Midcoast Energy (MEP) initiated with a Buy at BofA/Merrill...Midcoast Energy initiated with a Buy at Goldman...Midcoast Energy initiated with a Buy at UBS...Midcoast Energy initiated with a Hold at Deutsche Bank...Midcoast Energy initiated with an Outperform at Wells Fargo...Oxford Immunotec (OXFD) initiated with an Overweight at JPMorgan...Oxford Immunotec initiated with an Overweight at Piper Jaffray...Triumph Group (TGI) initiated with an Overweight at JPMorgan...Vince Holding (VNCE) initiated with a Hold at Stifel...Vince Holding initiated with an Outperform at Wells Fargo...Red Hat (RHT) initiated with an Overweight at Stephens...Zillow (Z) initiated with a Buy at SunTrust...Blackhawk (HAWK) initiated with a Neutral at Janney Capital...Archer Daniels (ADM) initiated with an Outperform at Macquarie...Andersons (ANDE) initiated with a Neutral at Macquarie...TripAdvisor (TRIP) initiated with a Sell at Janney Capital.
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November 25, 2015
08:19 EDTTRIPGoogle claims search result burying Yelp, TripAdvisor is a bug, Re/code reports
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November 24, 2015
19:27 EDTIRMIron Mountain announces deferral of Recall Scheme Meeting to approve acquisition
Iron Mountain announced that Recall Holdings has received approval from the Federal Court of Australia to defer the date of its Scheme Meeting related to Iron Mountain's acquisition of Recall from the previously scheduled date of December 3, 2015 to March 17, 2016. The special shareholder meeting to approve the acquisition is referred to as the Scheme Meeting in Australia, and will be held once certain conditions to closing of the transaction, including regulatory clearance, are satisfied. As previously disclosed, the transaction is being reviewed by regulatory authorities in Australia, the United States, the United Kingdom and Canada. The regulatory review is progressing; however, we do not expect to obtain all regulatory approvals prior to the originally scheduled Scheme Meeting date of December 3. Acquisitions in Australia require Federal Court approval to proceed. Before the Federal Court can issue its approval, all regulatory clearances must have been received to enable Recall shareholders to vote on the Scheme with a clear understanding of the agreements expected with the various regulatory authorities. Additionally, as provided in the Scheme Implementation Deed, Iron Mountain and Recall had agreed that in order to facilitate REIT compliance measures, the closing date should occur in the first 30 days of a calendar quarter, and that it might be necessary to adjust the Court hearing date to achieve that objective. As a result of these factors, the earliest Recall can hold its Scheme Meeting and schedule subsequent Australian Federal Court approval dates is March, with implementation expected on April 1, 2016. Regulatory review and approval is a normal part of the acquisition process, and as previously disclosed, Iron Mountain has agreed to make certain divestments, if required to address competition issues including divestments of certain assets, among other possible remedies. Iron Mountain expects all required regulatory approvals will be determined by the new Scheme Meeting date and the transaction would close early in Q2 of 2016. Iron Mountain stockholders overwhelmingly approved the issuance of shares for the acquisition of Recall on November 19, and the Recall board continues to unanimously recommend that its shareholders vote in favor of the transaction.
November 23, 2015
16:25 EDTVNCEVince Holding in consulting agreement with co-founders
Vince Holding announced that the Company has engaged Rea Laccone and Christopher LaPolice to provide consulting services under a two-year agreement. Ms. Laccone and Mr. LaPolice will oversee the Company's product, merchandising, and creative efforts. Brendan Hoffman, Chief Executive Officer, commented, "Rea and Christopher, who created the original vision for Vince 13 years ago, bring tremendous creative talent to the brand. We look forward to drawing upon their design and merchandising expertise to enhance our product offering. While product is our first priority, we are also working to develop a strong foundation from which we can drive consistent profitable growth for the long term." Ms. Laccone stated, "Christopher and I are excited to be returning to Vince as this is a brand with tremendous long term potential. We believe that customers have looked to Vince for everyday luxury essentials with modern, effortless style and we will work with the team to deliver product that reflects this aesthetic." Ms. Laccone and Mr. LaPolice founded Vince in Los Angeles in 2002, and were with the Company through January 2013.
13:26 EDTZZillow joins Google Compare for Mortgages experience
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November 22, 2015
18:21 EDTADMSugar producers settle battle with high-fructose corn syrup, Bloomberg says
Sugar producers have settled a legal dispute with high-fructose corn syrup makers including Archer-Daniels Midland after accusing the HFCS firms of misusing the term "natural," reports Bloomberg. Though terms of the settlement were unclear, Bloomberg noted the sugar companies had sought $1.6B in damages while ADM and other co-defendants had sought $531M. Reference Link
November 20, 2015
11:05 EDTADMSyngenta sues grain trading companies in corn conflict, WSJ says
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10:59 EDTADMArcher Daniels downgraded to Equal Weight from Overweight at Stephens
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10:38 EDTRHTAnalyst sees 'cloud cold war' coming between Google, Microsoft, Amazon
Recent comments by Google (GOOG) indicate that the tech giant plans to make a major push in the cloud infrastructure market, Deutsche Bank analyst Ross Sandler wrote in a note to investors today. Google's initiatives in this area could significantly boost its stock price and signify the start of a "cold war" in the space, but are unlikely to negatively affect the number two player in the area, Microsoft (MSFT), Sandler believes. WHAT'S NEW: Google has not been aggressively expanding its cloud infrastructure business, but recent comments by the tech giant indicates that this situation is changing, Sandler wrote. Google executive Urs Holzle said that the tech giant plans to aggressively expand its cloud platform, and projected that the company's revenue from the cloud could surpass its ad revenue by 2020, the analyst noted. The note comes after Google acquired a small platform-as-a-service company called bebop and appointed its CEO, VmWare (VMW) co-founder Diane Greene, to lead a new cloud business. Based on Hozle's comment, Google is seeking to boost its cloud revenue to $100B by 2020, Sandler estimated. If the tech giant even "gets part of the way" to meeting the goal, the growth in its cloud business will boost its market cap by hundreds of billions of dollars, Sandler believes. Google's push in the cloud is negative for Microsoft, but it will take years for Google to build up its cloud business to the point where it's competitive with Microsoft's cloud offering, Azure, the analyst contended. Amazon (AMZN), which Google also much catch, is the runaway leader in the cloud market. WHAT'S NOTABLE: Google may look to make acquisitions in the software-as-a-service sector to build up its cloud business, and vendors like Red Hat (RHT) which sell to cloud infrastructure providers have added a major new customer, Sandler wrote. Major software-as-a-service providers include (CRM), Workday (WDAY), and Netsuite (N). PRICE ACTION: In early trading, Alphabet Class A shares gained 1.5% to $771.37, Microsoft slid 1.1% to $53.33 and Amazon rose fractionally to $662.87.
November 19, 2015
13:24 EDTTRIPExpedia CEO says shut out of TripAdvisor Instant Booking for now, Skift says
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09:58 EDTIRMIron Mountain stockholders approve issuance of shares for Recall acquisition
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07:15 EDTRHTPalo Alto Fortinet seen as potential Cisco takeover targets, says Oppenheimer
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07:07 EDTHAWKBlackhawk acquires Netherlands-based DIDIX Gifting & Promotions
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November 18, 2015
08:08 EDTRHTWipro announces collaboration with Red Hat
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07:12 EDTEVGNEvogene reports Q3 EPS (13c), two estimates (15c)
Reports Q3 revenue $3.27M, two estimates $3.5M.
November 17, 2015
12:14 EDTTRIPTripAdvisor management to meet with Guggenheim
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10:02 EDTTRIPTripAdvisor management to meet with Oppenheimer
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