|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||119.58 - 119.92|
|52-week range||66.61 - 122.50|
|Beta (5Y Monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Tiffany & Co. (NYSE: TIF) to LVMH Moët Hennessy Louis Vuitton SE. Under the terms of the proposed transaction, shareholders of Tiffany will receive only $135 in cash for each share of Tiffany that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
Signet Jewelers (SIG)— the parent company of Kay Jewelers, Jared and Zales — is shining today after reporting strong third quarter earnings that beat expectations.
Tiffany & Co. (NYSE: TIF) today reported its financial results for the three months ("third quarter") and nine months ("year-to-date") ended October 31, 2019. Worldwide net sales for the third quarter were unchanged from the prior year and decreased 2% in the year-to-date period. On a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see "Non-GAAP Measures"), worldwide net sales for the third quarter were 1% above the prior year and unchanged in the year-to-date period. Net earnings declined in both periods, reflecting lower operating margins, a higher effective income tax rate for the third quarter and a slightly lower effective income tax rate in the year-to-date period, in each case, as compared to the prior year.
(Bloomberg Opinion) -- Moncler SpA’s hotline just blinged. The brand, sported by Drake in his video for the popular song of that name, is being courted by Kering SA, according to Bloomberg News.Moncler has been a fashion-hit maker itself. If Francois-Henri Pinault’s Kering wants to get its hands on it, the Gucci owner will have to pay a price as rich as that commanded by one of its $1,000-plus down jackets.The Italian brand, with a market capitalization of 11 billion euros ($12.2 billion), would bring a sizable name that’s still capable of growth to Kering, valued at 69 billion euros. It would also usefully reduce the French group’s reliance on Gucci, which now accounts for more than 60% of group sales and 80% of operating profit.Moncler has scope to add further stores, particularly flagship locations, in China. While it has successfully expanded its range of products from its core down jackets into knitwear, there is an opportunity in bags and accessories. Kering’s expertise would bolster these ambitions. Digital marketing skills and the French company’s focus on sustainability could be useful too, as younger luxury buyers’ concerns about natural resources, such as down and fur, shape their buying habits.But Moncler won’t come cheap. Assuming a 25% premium over Wednesday’s closing price, a takeover would cost about 12 billion euros, adjusting for estimated net cash of 550 million euros. That equates to about 20.5 times this year’s likely Ebitda, exceeding the multiple that Kering’s French arch-rival LVMH has offered for the iconic diamond and jewelry brand Tiffany & Co.With Moncler forecast to make about 750 million euros of operating profit in 2023, the returns from a deal would be a mere 5% after tax, unless Kering could turbocharge the business. Given that the target is already well run under Remo Ruffini, its chief executive officer and biggest shareholder, that looks like a tall order. Moncler's operating margin is already strong at about 30%.This wouldn’t be a case of taking a tired brand and rejuvenating it. So the pressure would be on Kering to engineer ways of achieving higher sales in order to earn returns at closer to the 7%-8% level that would make a deal easier to justify.The French house can afford Moncler. Assuming an all-cash deal, net debt would increase from 0.4 times Ebitda to 2.4 times. That’s manageable. Kering also has a 16% stake in sportswear maker Puma SE, worth about 1.6 billion euros, to play with. But a deal would wrap up much of Kering’s acquisition firepower up in a puffer jacket, leaving little room to expand into other areas, such as jewelry.There is better value to be found elsewhere, for example in Britain’s Burberry Group Plc, whose recovery plan has yet to pay off. Kering could also bring the skills it used to reinvigorate the Gucci brand to Prada SpA or Salvatore Ferragamo SpA. While this could mean more upfront investment, there is a much bigger turnaround potential.Although Burberry has no controlling family, Prada and Ferragamo do. So far, they have shown no indications of wanting to sell. A reshuffle of Moncler’s ownership recently reduced Ruffini’s stake to 22.5%Even so, Moncler’s down jackets are best known for keeping out the cold. The company has plenty to help it repel a predator, or more likely, make them pay a bulky price.\--With assistance from Chris Hughes.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: Melissa Pozsgay at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or 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/opinion©2019 Bloomberg L.P.
PARIS/MILAN, Dec 5 (Reuters) - The chief executive and top shareholder of puffer jacket maker Moncler played down speculation around a takeover by Gucci-owner Kering on Thursday, saying the two firms sometimes talked but that there was no deal in the works. Shares in the Italian label, which has become a luxury industry darling in recent years after a makeover under CEO Remo Ruffini, surged earlier after Bloomberg reported that it had held exploratory discussions with Kering.
Two big economic reports will be on investor’s radars this week — the Institute for Supply Management (ISM) manufacturing data and the November employment report.
Tiffany & Co. (TIF) said yes. The luxury jeweler is gearing up to be bought by LVMH (MC.PA) after the luxury retailer proposed with a $16.2 billion deal.
World stocks edged off their highest in almost two years on Tuesday, but kept record levels in sight, following fresh signs that the United States and China were working to end a trade war dragging on the global economy. China's Vice Premier Liu He, U.S. Trade representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin held a phone call on issues related to a phase one trade agreement on Tuesday, China said. This, alongside a strong Hong Kong debut for Chinese e-commerce giant Alibaba in the world's largest share sale this year, boosted markets in Asia .
World stocks hit their highest in almost two years on Tuesday, keeping record highs in sight, following fresh signs that the United States and China were working to end a bitter trade war that has dealt a blow to the global economy. China's Vice Premier Liu He, U.S. Trade representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin held a phone call on issues related to a phase one trade agreement on Tuesday, China's commerce ministry said. Alibaba shares opened almost 7% higher in Hong Kong than their issue price and at a small premium to pricing in New York.
Investing.com -- More happy talk from China on trade, while Fed Chairman Jerome Powell sees the economy's glass as "more than half full" (so no more rate cuts for now). Elsewhere, eBay keeps up the flurry of M&A; activity and the UN takes a swipe at countries for failing to live up to their Paris Accord pledges. Here's what you need to know in financial markets on Tuesday, 26th November.
The dollar rose and global equity markets rallied on Monday, with the Nasdaq and S&P 500 hitting new highs as investors grew more hopeful the United States and China could soon sign an interim deal to end their trade war. Trade-sensitive miners in Europe and semiconductors on Wall Street climbing on reports suggesting the world's two largest economies were close to an initial trade deal. In the United States, Charles Schwab Corp agreed to buy TD Ameritrade Holding Corp in an all-stock deal valued at $26 billion while EBay Inc will sell ticketing unit StubHub to ticket reseller Viagogo Ltd for $4.05 billion in cash.
LONDON/PARIS, Nov 25 (Reuters) - Tiffany was codenamed "Tea" and LVMH was "Latte" in the whirlwind talks that led to the U.S. jeweller being taken over by the French luxury group for more than $16 billion, in a homage to famed film "Breakfast at Tiffany's". The monikers were an attempt to ensure secrecy about a deal that LVMH wanted to seal swiftly before its competitors could intervene, according to two sources involved in the talks. LVMH's bid approach was discussed by executives at the two companies in mid October, soon before the French firm launched a big factory in Johnson County, Texas, with U.S. President Donald Trump cutting the ribbon at the opening ceremony.
The S&P 500 and the Nasdaq indexes climbed to new record highs on Monday as signs indicated the United States and China were moving closer to a trade truce, while a host of merger deals also helped buoy sentiment. Gains on Monday were broad with only the defensive consumer staples and utilities S&P sectors in the red.
(Bloomberg) -- Europe Inc. has been on an acquisition tear, with luxury purveyor LVMH and drugmaker Novartis AG becoming the latest companies to seek growth through splashy purchases overseas.Buyers from the continent have announced $58 billion of takeovers globally this month, more than triple the same period last year, according to data compiled by Bloomberg. That makes it the busiest November since 2015. More than half the deal volume came from purchases of U.S. companies, compared with 37% from western European targets, the data show.LVMH announced Monday it will acquire Tiffany & Co. for $16.2 billion, expanding its presence in jewelry with the largest luxury-goods deal ever. The transaction came just hours after Novartis said it would buy Parsippany, New Jersey-based Medicines Co. for $9.7 billion to get its hands on a blockbuster cholesterol drug.Completing the European hat trick on Monday, Geneva-based ticket reseller Viagogo is buying rival StubHub from EBay Inc. for $4.05 billion in a play for a share of the U.S. market.“We are at a stage in the cycle where European corporates have strong balance sheets,” said Kyril Courboin, chief executive officer of JPMorgan Chase & Co.’s French business. “They increasingly use this firepower to make acquisitions in the U.S. market.”In a highly unstable global environment, the U.S. also offers a single market with massive scale, a supportive economy and a pro-business environment, Courboin said. Last week, France’s Cie de Saint-Gobain agreed to buy drywall maker Continental Building Products Inc. for $1.4 billion including debt to boost its presence in growing regions of the U.S.“Cash-rich companies are targeting global players in the U.S. as a key market for expansion,” said Luigi de Vecchi, chairman of Citigroup Inc.’s banking, capital markets and advisory business for Europe, the Middle East and Africa. “We shall continue to see more cross-border flows into the U.S.”Aroundtown SA reached a deal to acquire TLG Immobilien AG for 3.1 billion euros ($3.4 billion) in stock to create Germany’s biggest commercial landlord. Meanwhile, a bidding war is looming for Madrid bourse operator Bolas y Mercados Espanoles SA, after Switzerland’s SIX Group AG made a $3.1 billion offer and Euronext NV said it’s in talks for its own bid.The recent flurry of activity is helping overall deal volumes on the continent recover after they fell 33% in the first half of the year to the lowest level in six years. European M&A is now down 15% from the same period a year earlier to $783 billion, data compiled by Bloomberg show.More big deals are slated to come before year-end. Irish flavorings maker Kerry Group Plc is conducting due diligence on a potential takeover of DuPont de Nemours Inc.’s $25 billion nutrition unit, Bloomberg News has reported. Assicurazioni Generali SpA is also preparing to make a formal bid in December for most of MetLife Inc.’s European operations, people with knowledge of the matter have said.U.S. companies have also been active, with retail stockbroker Charles Schwab Corp. saying Monday it will buy rival TD Ameritrade Holding Corp. in a $26 billion transaction. That helped make this the busiest “Merger Monday” in nearly six months, with at least $71 billion of M&A transactions announced since Sunday. The last time it was this hectic at the start of a week was June 10, when companies announced $117 billion of acquisitions led by United Technologies Corp.’s purchase of Raytheon Co.(Adds StubHub acquisition in fourth paragraph, updates figures throughout.)\--With assistance from Ben Scent, Aaron Kirchfeld and Liana Baker.To contact the reporters on this story: Myriam Balezou in London at email@example.com;Dinesh Nair in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Scent at email@example.com, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.