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Tuesday Morning Corporation Message Board

  • smaycs4 smaycs4 May 10, 2013 2:22 PM Flag

    9% is not enough. Becker Drapkin wants MORE !

    On May 9, 2013, the BD Management and Janney Montgomery Scott, LLC (“JMS”) entered into a Stock Purchase Plan (the “JMS 10b5-1 Plan”), pursuant to which JMS will purchase shares of Common Stock, on behalf of BD Management. Transactions under the JMS 10b5-1 Plan will be subject to certain price restrictions, and the JMS 10b5-1 Plan may be terminated by BD Management at any time. The JMS 10b5-1 Plan is intended to comply with the requirements of Rule 10b5-1(c) promulgated under the Securities Exchange Act of 1934.

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    • Its been over a month and I havent seen a recent form 4.

      Wonder what that means exactly ?

      Did they file that and then start shopping the company ? And if a deal falls through do they want to be able to buy when it drops without waiting ?

      Have they been having their broker buy for the last month but just hold the shares and then cross a large block to them at once at an average price ?

      That would seem to run afoul of reporting requirements so Im not inclined to think thats it.

      Or maybe a hedge fund or two realized that if BD wants more, that TUES is worth more !

      Wouldnt it make sense for Homegoods to just buy TUES out rather than competing with them ?

      About 27 years ago after I got out of running a pizza hut, delivery was coming to Bham. At the time, there was a local chain with, I dont know 8-12 stores called "Famos Teds".

      Rather than competing with Teds, Pizza Hut just bought them out and changed them over to Pizza Huts.

      What better why to grow Homegoods ?

      Sure, they would have to close a number of stores where they both have stores nearby, but the other efficiences could make up for it.

      And TJX could easily pay with shares because their stock is at an all time time.

      They could pay $15-17 without blinking an eye.

      And maybe thats why the old CEO is no longer around ? He found out they might sell it and he didnt want to fix it just to sell it ?

    • So, Becker Drapkin had an open period right after the last earnings report. Why didn't they just outright buy MORE?

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