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Stock Market & Financial Investment News

News Breaks
May 23, 2014
14:56 EDTZLC, SIGTIG Advisors says ISS recommendation on Zale undershoots standalone value
TIG Advisors, a stockholder of Zale (ZLC) owning approximately 9.5% of its outstanding shares of common stock, responded to Institutional Shareholder Services' recommendation to Zale stockholders in respect of the proposed merger with Signet Jewelers (SIG) for $21 per share in cash, stating that it has filed a presentation with the SEC that details its concerns with ISS’ analysis and conclusions. TIG said, “We disagree with many of ISS’ fundamental assumptions and calculations in arriving at a value for Zale. ISS has unilaterally chosen to discount Zale Management’s downside case in arriving at a pre-announcement standalone value for Zale. ISS makes a mathematical error in calculating the implied share price. Using its own arguments but correcting its mathematical mistake, ISS should have concluded that Zale’s standalone price is ~$21.76, not the $15.60 that ISS claims. We believe this error is a major flaw that leads directly to ISS’ incorrect recommendation.”
News For ZLC;SIG From The Last 14 Days
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March 26, 2015
16:42 EDTSIGCorvex Management reports 7.2% stake in Signet Jewelers
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09:23 EDTSIGOn The Fly: Pre-market Movers
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07:09 EDTSIGSignet Jewelers sees FY16 net selling square footage growth up 2%-3%
Sees FY16 CapEx $275M-$325M.
07:08 EDTSIGSignet Jewelers sees Q1 adjusted EPS $1.57-$1.62, consensus $1.61
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07:06 EDTSIGSignet Jewelers reports Q4 adjusted EPS $3.06, consensus $3.04
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March 25, 2015
15:34 EDTSIGNotable companies reporting before tomorrow's open
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