|Bid||130.88 x 1300|
|Ask||134.49 x 2200|
|Day's Range||134.09 - 134.25|
|52 Week Range||78.60 - 134.25|
|Beta (5Y Monthly)||1.65|
|PE Ratio (TTM)||29.96|
|Earnings Date||Mar 19, 2020|
|Forward Dividend & Yield||2.32 (1.73%)|
|Ex-Dividend Date||Dec 17, 2019|
|1y Target Est||132.40|
Warren Buffett reportedly turned down a previous chance to buy Tiffany and Co., according to The Financial Times. Former LVMH North America Chair Pauline Brown weighs in on the report with Yahoo Finance's Zack Guzman & Heidi Chung on YFi PM.
NEW YORK, Jan. 20, 2020 -- Halper Sadeh LLP, a global investor rights law firm, continues to investigate the following companies: Tiffany & Co. (NYSE: TIF)The.
(Bloomberg Opinion) -- If you have to ask the price, you can’t afford it. No wonder Bernard Arnault, France’s richest man, isn’t disclosing the details of LVMH Moet Hennessy Louis Vuitton SE’s deal to carve up the second-biggest diamond ever recorded in the history books.On Thursday, Lucara Diamond Corp. said it had entered into a collaboration with LVMH that will see the 1,758-carat Sewelo diamond, which is roughly the size of a tennis ball, turned into Louis Vuitton jewelry. The stone’s name means “rare find.” LVMH is probably one of the few luxury groups that could pull off such a coup.But this is no vanity project. It comes hard on the heels of LVMH’s close to $16 billion purchase of Tiffany & Co., the go-to destination for engagement rings wrapped in that iconic little blue box. If that indicated the French company’s intent in jewelry, this leaves no doubt.It’s not yet clear how exactly the rough diamond will be used. Louis Vuitton has been expanding in fine jewelry, and with its Maison Vendome flagship store has a dedicated space for the category with its own entrance on the Place Vendome, the epicenter of Paris jewelry retailing. The group’s other jewelry houses include Bulgari, Fred, Chaumet, and the soon-to-be-added Tiffany. Christian Dior, meanwhile, has the potential to sell lots of pricey adornments to its fashionista fans.However it eventually polishes up, the Sewelo will be part of the classic luxury playbook. LVMH will likely create several extremely high-end pieces to establish a sense of exclusivity. While only a small number of customers may be wealthy enough to purchase these, many more will be able snap up Tiffany bangles or Louis Vuitton rings. LVMH is counting on the stone to encourage these purchases, too. It’s the diamond-encrusted equivalent of sending extravagant creations down the catwalk to sell trunk loads of Louis Vuitton’s popular Neverfull bags, which sell for about 1,000 pounds ($1,307).Even taking this strategy into account, it’s likely that LVMH will seek to take Tiffany upmarket. There’s scope to increase its margins by jettisoning lower-price products and selling more high-end pieces. The allure of the Sewelo will help in this process, too.The luxury jewelry market is growing strongly, with particular demand for items boasting a designer label. Bain & Co. estimates that excluding currency fluctuations, sales rose 9% in 2019, in contrast to watches, where sales fell 2%. Timepieces have been hurt not only by the unrest in Hong Kong but by the segment’s continued disruption by smart and connected watches. Jewelry faces no such technological shifts. So there’s plenty of room for LVMH to expand.A more muscular rival is a worry for companies including Richemont, which owns Van Cleef & Arpels and Cartier, as well as Swatch Group AG, which owns Harry Winston. It could also make it harder for LVMH’s French archrival Kering SA, which also has scope to sell more jewels, to do so. Luca Solca, analyst at Bernstein, has suggested that a merger between Richemont and Kering would be a formidable response.LVMH’s Sewelo gem gambit is not without some potential pitfalls. At the moment it is a rough stone, whose outer surface is still covered in a layer of carbon. It’s not yet clear what kind or quality of polished gem it will reveal. Lucara Diamond previously said it may not deliver the highest standard.Whatever emerges, the stone’s size alone will make for an interesting story for LVMH’s marketing team. And with the group being at the cutting edge of fashion, it may be bolder and more creative than a diamond dealer, whose primary concern is usually how many carats can be secured in order to maximize the sale price. Add in the halo effect around the jewelry maisons — the Sewelo will be shown to clients and press at the Paris couture shows next week before embarking on a world tour — and there’s even less of a risk.So even if the Sewelo doesn’t turn out to be as much of a sparkler as hoped, it will still help LVMH sell plenty of other baubles.To contact the author of this story: Andrea Felsted at firstname.lastname@example.orgTo contact the editor responsible for this story: Melissa Pozsgay at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Rating Action: Moody's affirms eight classes of MSBAM 2016- C30. Global Credit Research- 16 Jan 2020. Approximately $681 million of structured securities affected.
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Wealthy bargain hunters should be wary of getting married in New York, hiring lawyers in Hong Kong or buying fine wines in Rio de Janeiro.That’s according to research from Julius Baer Group Ltd., which broke out the world’s most expensive cities for a variety of luxury goods and services -- from houses to whisky to handbags. High local tax rates make Rio de Janeiro -- Brazil’s second-largest city -- the world’s most expensive metropolis in five of 18 categories in the Swiss bank’s “Global Wealth and Lifestyle Report 2020.”New York ranked as priciest place to lay on a 400-person wedding banquet or hire a personal trainer, while London took top spot for the laser eye surgery that clears blurry vision. Still, Hong Kong is the world’s most expensive city overall, with the former British colony cited frequently in the top 10 priciest municipalities for categories such as fine dining, hotel suites and luxury cars.The report released Thursday underscores the growing scope of opulence among the world’s wealthy as tensions mount in some nations over the divide between the rich and everyone else. Widening inequality in Hong Kong, fueled by low taxes, has helped incite the city’s worst unrest since it returned to Chinese rule in 1997. There has also been unrest in parts of Latin America and Europe over rising living costs.The idea of luxury “once stood for fancy goods, such as handbags or sports cars,” Nicolas de Skowronski, head of wealth management solutions at Julius Baer, said in the report. “Now it has morphed into a broad category that includes services and experiences, from fine dining to new lifestyle trends such as wellness.”While Hong Kong may drop in future rankings after months of protests take their toll on the economy, other Asian cities are well represented in the firm’s ranking of most expensive, including Shanghai, Tokyo, Singapore, Taipei and Bangkok all in the top half. That section also included Los Angeles and Miami -- the only other U.S. cities listed in the report -- although neither rank top for individual categories of how the wealthy splash their cash.(Updates with New York details in third paragraph.)To contact the reporters on this story: Ben Stupples in London at firstname.lastname@example.org;Akshat Rathi in London at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Peter Eichenbaum, Steven CrabillFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
WILMINGTON, Del., Jan. 09, 2020 -- Rigrodsky & Long, P.A. announces that it is investigating: IBERIABANK Corporation (NASDAQ GS: IBKC) regarding possible breaches of.
NEW YORK, NY / ACCESSWIRE / January 8, 2020 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate the following companies: Tiffany & Co. (NYSE: TIF) The investigation concerns ...
NEW YORK, NY / ACCESSWIRE / January 7, 2020 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New ...
In the "annual investor letter for 2019" published Monday, Citron Capital LLC managing partner Andrew Left named his top picks for long and short ideas for the year 2020. RH Headed For Acquisition ...
NEW YORK, Jan. 06, 2020 -- Halper Sadeh LLP, a global investor rights law firm, continues to investigate the following companies: Continental Building Products, Inc. (NYSE:.
According to one top luxury executive, the sector can’t sustain its current rate of growth — and might need to consolidate further.
Benzinga has examined the prospects for many investor favorite stocks over the past week. Bearish calls included electric vehicle and coffee shop giants. Other geopolitical issues remained, including concerns about Brexit, but the Dow Jones industrials and the S&P 500 ended the week essentially flat, while the Nasdaq saw a fractional gain.
Warren Buffett isn’t looking to add something shiny to his portfolio, and Pauline Brown has an idea why.
NEW YORK, NY / ACCESSWIRE / January 3, 2020 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New ...
Despite sitting on $128 billion in cash, Warren Buffett reportedly passed on an offer to buy Tiffany, which LVMH then bought in a blockbuster deal.
WILMINGTON, Del., Jan. 02, 2020 -- Rigrodsky & Long, P.A. announces that it is investigating: Telaria, Inc. (NYSE: TLRA) regarding possible breaches of fiduciary duties.
Billionaire investor Warren Buffett and his Berkshire Hathaway Inc. (NYSE: BRK-A ) (NYSE: BRK-B ) turned down an opportunity to put some of its $128 billion in cash to use and buy jewelry company Tiffany ...
Tiffany & Co. (NYSE:TIF) (the "Company") today announced that it will hold a special meeting of its stockholders at its corporate office, 200 Fifth Avenue, New York, New York 10010, on February 4, 2020, beginning at 9 a.m., local time. At the special meeting, stockholders will be asked to consider and vote on, among other things, a proposal to adopt the previously announced Agreement and Plan of Merger, dated as of November 24, 2019 (as it may be amended from time to time, the "Merger Agreement"), by and among the Company, LVMH Moët Hennessy-Louis Vuitton SE, Breakfast Holdings Acquisition Corp. and Breakfast Acquisition Corp. ("Merger Sub"), providing for the merger of Merger Sub with and into the Company, with the Company surviving the merger. The Company’s board of directors recommends that stockholders vote in favor of the proposal to adopt the Merger Agreement.
NEW YORK, NY / ACCESSWIRE / December 31, 2019 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New ...
Moore Kuehn, PLLC, a securities law firm located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders:
WILMINGTON, Del., Dec. 28, 2019 -- Rigrodsky & Long, P.A. announces that it is investigating: Synthorx, Inc. (NASDAQ GS: THOR) regarding possible breaches of fiduciary.
NEW YORK, NY / ACCESSWIRE / December 27, 2019 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New ...