|Bid||35.24 x 900|
|Ask||35.32 x 800|
|Day's Range||34.86 - 35.32|
|52 Week Range||29.56 - 48.69|
|Beta (5Y Monthly)||1.99|
|PE Ratio (TTM)||14.19|
|Earnings Date||Feb 04, 2020|
|Forward Dividend & Yield||2.00 (5.68%)|
|Ex-Dividend Date||Nov 06, 2019|
|1y Target Est||37.29|
Moelis & Company will release its full year and fourth quarter 2019 financial results after the market closes on Wednesday, February 5, 2020.
Tiffany & Co. announced preliminary sales for the holiday period on Thursday, reporting 1% to 3% growth year-over-year. "During this period, we continued to see the Chinese mainland drive overall sales growth with a strong double-digit increase, offset by the persisting declines in the Hong Kong market and, to a lesser degree, Japan, which we believe continues to be negatively impacted by the recent increase in the consumption tax," said Alessandro Bogliolo, Tiffany's chief executive, in a statement. Sales were up 2% to 4% in the Americas, Europe was up 3% to 5%, Asia Pacific was up 5% to 7%, and Japan was down 9% to 11%. Tiffany's New York City flagship will close mid-January 2020 for renovations. During that period it will move next door. In November, LVMH Moet Hennessy Louis Vuitton SE announced it had purchased Tiffany in a $16.2 billion deal. Tiffany will announce fourth-quarter earnings on March 20, 2020. Tiffany & Co. shares are up 71.7% for the past year, LVMH stock is up 69%, and the S&P 500 index is up 30.6% for the period.
Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Our research shows that most of the stocks that smart money likes historically generate strong […]
Trump’s tariffs single out France but other EU countries are going to tax the internet giants. The best course would be for OECD talks to conclude next year with an international agreement.
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterCell C Pty Ltd.’s creditors aren’t giving up on a takeover offer from rival Telkom SOC Ltd., which South Africa’s third-largest mobile-network operator rejected last week.Senior debt holders have hired investment-banking firm Moelis & Co. and corporate lawyers Linklaters LLP and DLA Piper LLP to lobby for the Telkom proposal, people familiar with the matter said. They could block Cell C from pursuing an alternative recapitalization plan by forcing the carrier into liquidation or business rescue, said the people, asking not to be identified because talks are ongoing.A takeover by Telkom would return about 86 cents on the rand to lenders, while banks may have to take a deeper haircut if Cell C goes ahead with a transaction involving local investment company Buffet Group, they said. Creditors are also requesting that Cell C’s board act independently from Blue Label Telecoms Ltd., which owns 45% of the company, the people said.“Cell C and its various stakeholders, including the creditors, are working collaboratively to conclude a restructure that addresses all parties interests,” Cell C said in an email. “It is important to respect the confidentiality of these discussions. Information circulating in the public domain about these discussions should be viewed with a degree of caution. Cell C confirms that constructive discussions on the recapitalization are underway and will update the market on all material matters in due course.”Linklaters, DLA Piper and Moelis & Co. declined to comment, while Buffet Group could not be reached. Telkom said it hasn’t had any further communication from Cell C’s side.It’s not the first time Cell C has spurned advances from Telkom, which wants to combine the country’s two smallest network operators to better compete against industry leaders MTN Group Ltd. and Vodacom Group Ltd. After running into financial difficulties in 2016, Cell C opted for a deal with Blue Label.In July, Cell C missed interest payments and suspended future obligations, resulting in S&P Global Ratings cutting Cell C’s assessment to default. The company, which generates about 15 billion rand ($1 billion) in revenue, is struggling to repay about 9 billion rand of debt.Cell C agreed on an extended roaming agreement with MTN last month that will give it access to the network of South Africa’s second-largest wireless carrier. As part of that pact, Cell C will pay as much as 5 billion rand a year in roaming charges, from about 1.8 billion rand, the people said. Lenders haven’t been given a chance to review the deal, they said.(Corrects description of Blue Label stake in third paragraph and adds updated statement from Cell C in fourth paragraph for story published on Dec. 2)To contact the reporter on this story: Loni Prinsloo in Johannesburg at firstname.lastname@example.orgTo contact the editors responsible for this story: Rebecca Penty at email@example.com, Vernon Wessels, John BowkerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moelis & Company , a leading global independent investment bank, today announced that Ken Moelis, Chairman and Chief Executive Officer, is scheduled to present at the Goldman Sachs US Financial Services Conference on Tuesday, December 10, 2019 at 11:10 a.m.
European luxury conglomerate LVMH Moët Hennessy Louis Vuitton announced Monday that it has reached a definitive agreement to buy U.S. jeweler Tiffany & Co. for $135 per share. The transaction has an equity value of 14.7 billion euros ($16.2 billion). The companies have reportedly been discussing a deal since Tiffany pushed back on an offer of $120 a share from LVMH last month. Shares of Tiffany, which closed at $125.51 on Friday, have climbed 56% in November amid rising optimism over a deal for the more than 180-year old company. LVMH said the acquisition of Tiffany will help boost its in jewelry and in the U.S. market. The deal has been approved by the boards of both companies, and is expected to close in mid-2020, subject to approval by Tiffany shareholders and regulators.
LVMH Moet Hennessy has gotten access to the financial books of Tiffany & Co. after the French luxury goods conglomerate lifted its offer for the U.S. jeweler to $16 billion, Reuters reported, citing sources. Shares of Tiffany jumped 3.4% late Wednesday on the report. Last month, LVMH approached Tiffany with a $120 per-share takeover bid, which the company appeared to have rejected. But that offer has now been lifted to $130 per share, the Reuters report said. Spokespersons from neither LVMH nor Tiffany could immediately be reached for comment.
(Bloomberg Opinion) -- The scaling back of Saudi Aramco’s initial public offering — despite nearly every major investment bank being involved — raises awkward questions about the effectiveness of mammoth syndicates of advisers and IPO book-runners. More appears to be less.Almost all of the big Wall Street and European investment banks are on the roster for the sale of shares in the world’s most profitable company. Alongside them were no less than three so-called “special advisers,” M Klein & Co., Lazard Frères SAS and Moelis & Co. Usually, that job would be to prevent the book-runners (who underwrite the offering) from setting a price that’s an easy sell but less than ideal for the vendor. They probably had a more general role here. Either way, with three firms in this category, it’s a wonder there wasn’t another layer of advisers on top.The syndicate’s job was largely to sell the Aramco shares to big institutional funds in the West. Now, with Saudi Arabia focusing on a local sale, their work is pretty much redundant.It’s hard to see how having so many banks on a deal is the optimal structure for generating frank, persuasive, timely advice — which is what this situation needed. It’s also questionable whether having this number of lenders helped in that failed effort to sell Aramco’s stock to a wider audience.First, the advice. The notion that Aramco is worth $2 trillion has dogged the situation from the start despite early concerns among equity analysts that the valuation was aggressive relative to the listed oil sector. There were no incentives for advisers to reset that unrealistic figure early in the process. In fact, the dynamics would have reinforced it.Every bank scrambled to get on the deal, mindful of the risk that proffering a conservative valuation might close the door. Moreover, the hit to their credibility would be shared across a wide group of peers if the number wasn’t delivered. Such a dilution of accountability makes it unlikely that anyone will deliver a singular, unpopular message to the client.Finally, the huge distribution network for the shares looked excessive too, even if the advisers and book-runners had succeeded in getting a price range agreed that was acceptable to international investors.Having myriad banks on such a deal contributes human capital. But it’s less clear that it adds much in terms of selling the shares given that there’s probably huge overlap between the banks’ investment fund clients. For a deal of this size, the answer may not have been more of the same, but rather adding alternative structures beyond the equity market: For example, a bond with generous coupons that would be repaid in Aramco stock 10 years hence.Of course, a more focused group of banks for Aramco’s offering would still have run up against an irreconcilable difference between what international investors were willing to pay and what Crown Prince Mohammed bin Salman would accept. But at least that realization would have happened sooner.To contact the author of this story: Chris Hughes at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Bain Capital, CVC Capital Partners and KKR & Co. are among bidders for Hong Kong-based game developer Leyou Technologies Holdings Ltd., according to people familiar with the matter.The buyout firms are selected to participate in the second round of bids, the people said, asking not to be identified because the matter is private. The firms are discussing potential financing options with investment banks, the people said. Leyou also attracted interests from other gaming companies, they said.Leyou said in September that it was holding preliminary talks with potential investors on possible transactions, which may lead to a public takeover. It hired Moelis & Co. as financial adviser. Shares of Leyou closed 0.4% higher on Tuesday, giving it a market value of about HK$8.1 billion ($1 billion). The stock fell as much as 3.8% earlier.Leyou was listed in Hong Kong in 2011 with products including free shooting games Warframe and Dirty Bomb. It’s also working with Amazon.com Inc. to co-produce a video game based on the popular fantasy series “The Lord of the Rings.” Other upcoming games are Civilization online and Transformers.Considerations are still ongoing, no final decision has been made and the companies could still decide against pursuing a transaction, the people said. Representatives for Bain, CVC and KKR declined to comment, while a representative for Leyou didn’t immediately respond to requests for comment.In the latest update on Oct. 16, Leyou said it has received a number of indications of interest from potential investors for the company or a substantial part of its business. These potential investors are conducting due diligence and there’s no agreement made for any transaction, it said.(Updates Leyou’s share price as market closes)To contact the reporters on this story: Manuel Baigorri in Hong Kong at firstname.lastname@example.org;Cathy Chan in Hong Kong at email@example.comTo contact the editors responsible for this story: Fion Li at firstname.lastname@example.org, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll look at...
This brings the S&P (SPX) chart into a “bullish” status and puts it in line with our other indicators, which have been bullish for some time now. The next support area, however, is at 2950, which is where the very bullish gap exists for SPX (red circle on this chart). Meanwhile, the “modified Bollinger Bands” (mBB) have begun to contract, even while SPX is rising, because volatility is collapsing.
Hedge funds are known to underperform the bull markets but that's not because they are bad at investing. Truth be told, most hedge fund managers and other smaller players within this industry are very smart and skilled investors. Of course, they may also make wrong bets in some instances, but no one knows what the […]
Moelis (MC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.