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TIF

Tiffany

$114.03 /

-7.815 (-6.41%)

, LVMUY

LVMH

$0.00 /

+ (+0.00%)

08:57
09/10/20
09/10
08:57
09/10/20
08:57

LVMH to file lawsuit against Tiffany over management during crisis

LVMH (LVMUY) announced its intention to file a lawsuit against Tiffany (TIF). The company said in a statement: "LVMH was surprised by the lawsuit filed by Tiffany against the Group in the Court of Chancery of the State of Delaware. LVMH considers that this action is totally unfounded. It has clearly been prepared by Tiffany a long time ago and communicated in a misleading way to shareholders and is defamatory. LVMH will defend itself vigorously. The long preparation of this assignment demonstrates the dishonesty of Tiffany in its relations with LVMH. This action is essentially based on the accusation by Tiffany that LVMH failed to take the reasonably necessary steps to obtain the various regulatory authorities' approvals in a timely way. This accusation has no substance and LVMH will demonstrate this to the Delaware Court. On this matter, the filing in Brussels will take place, as expected, in the following days and this is simply the result of the planning fixed by the European Commission, about which Tiffany is completely aware. It is legitimate to expect this authorization will be obtained in October. The LVMH Board, besides the elements already raised, had the opportunity to examine the current economic situation of Tiffany and its management of the crisis. It noted that the first half results and its perspectives for 2020 are very disappointing, and significantly inferior to those of comparable brands of the LVMH Group during this period. LVMH will be therefore led to challenge the handling of the crisis by Tiffany's management and its Board of Directors. LVMH considers, among other things, that this period is impacted by a Material Adverse Effect, that Tiffany did not follow an ordinary course of business, notably in distributing substantial dividends when the company was loss making and that the operation and organization of this company are not substantially intact. LVMH therefore confirms that the necessary conditions for the conclusion of the acquisition of Tiffany are not fulfilled."

TIF

Tiffany

$114.03 /

-7.815 (-6.41%)

LVMUY

LVMH

$0.00 /

+ (+0.00%)

TIF Tiffany
$114.03 /

-7.815 (-6.41%)

09/10/20 Wells Fargo
Tiffany price target lowered to $120 from $135 at Wells Fargo
08/25/20 Oppenheimer
Opco 'turning more concerned' LVMH could reduce Tiffany buyout price
06/05/20 Societe Generale
SocGen backs Buy on LVMH after Tiffany statement
06/05/20 Societe Generale
Societe Generale still sees LVMH going through with deal for Tiffany
LVMUY LVMH
$0.00 /

+ (+0.00%)

08/18/20 RBC Capital
Estee Lauder price target raised to $194 from $173 at RBC Capital
08/17/20 Jefferies
LVMH upgraded to Buy from Hold at Jefferies

TODAY'S FREE FLY STORIES

Hot Stocks
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Turquoise Hill Resources…

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Recommendations
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DE

Deere

$256.69 /

-4.9 (-1.87%)

Deere shares fell 2%…

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DE Deere
$256.69 /

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11/25/20 Baird
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Recommendations
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BMO Capital analyst…

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$54.07 /

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Recommendations
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RSGUF

Rogers Sugar

$0.00 /

+ (+0.00%)

BMO Capital analyst…

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RSGUF Rogers Sugar
$0.00 /

+ (+0.00%)

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Downgrade
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SGBAF

SES S.A.

$0.00 /

+ (+0.00%)

Berenberg analyst Sarah…

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SGBAF SES S.A.
$0.00 /

+ (+0.00%)

09/14/20 Deutsche Bank
SES S.A. price target lowered to EUR 10 from EUR 11 at Deutsche Bank
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Upgrade
DCC plc upgraded to Overweight from Equal Weight at Morgan Stanley » 09:09
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DCCPF

DCC plc

$0.00 /

+ (+0.00%)

Morgan Stanley analyst…

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DCCPF DCC plc
$0.00 /

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Downgrade
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MTTRY

Ceconomy

$0.00 /

+ (+0.00%)

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MTTRY Ceconomy
$0.00 /

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Initiation
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CTTOF

CTT - Correios De Portugal

$0.00 /

+ (+0.00%)

Berenberg initiated…

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Bpost upgraded to Buy from Hold at Berenberg » 09:06
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11/26/20
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BPOSY

Bpost

$0.00 /

+ (+0.00%)

Berenberg analyst William…

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BPOSY Bpost
$0.00 /

+ (+0.00%)

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Downgrade
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09:04
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NPACY

Quadient

$0.00 /

+ (+0.00%)

Stifel analyst Nicolas…

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Melrose Industries downgraded to Hold from Buy at Stifel » 09:03
11/26/20
11/26
09:03
11/26/20
09:03
MLSPF

Melrose Industries

$0.00 /

+ (+0.00%)

Stifel analyst Mark…

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MLSPF Melrose Industries
$0.00 /

+ (+0.00%)

10/02/20 Panmure Gordon
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08/14/20 RBC Capital
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Upgrade
Moody's upgraded to Overweight from Neutral at Atlantic Equities » 09:02
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11/26
09:02
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09:02
MCO

Moody's

$276.45 /

+4.83 (+1.78%)

Atlantic Equities analyst…

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MCO Moody's
$276.45 /

+4.83 (+1.78%)

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MCO Moody's
$276.45 /

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Upgrade
Aker Solutions upgraded to Buy from Hold at Fearnley » 09:01
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AKRTF

Aker Solutions

$0.00 /

+ (+0.00%)

Fearnley analyst Oystein…

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AKRTF Aker Solutions
$0.00 /

+ (+0.00%)

07/17/20 Danske Bank
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Downgrade
Frontline downgraded to Hold from Buy at DNB Markets » 08:59
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08:59
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FRO

Frontline

$6.76 /

-0.655 (-8.84%)

DNB Markets analyst…

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FRO Frontline
$6.76 /

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FRO Frontline
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$6.76 /

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Downgrade
Snam downgraded to Hold from Buy at Stifel » 08:58
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SNMRF

Snam

$0.00 /

+ (+0.00%)

Stifel analyst Enrico…

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SNMRF Snam
$0.00 /

+ (+0.00%)

11/16/20 Exane BNP Paribas
Snam downgraded to Neutral from Outperform at Exane BNP Paribas
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Snam upgraded to Buy from Hold at Kepler Cheuvreux
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Downgrade
4imprint Group downgraded to Hold from Buy at Berenberg » 08:56
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11/26
08:56
11/26/20
08:56
FRRFF

4imprint Group

$0.00 /

+ (+0.00%)

Berenberg analyst…

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FRRFF 4imprint Group
$0.00 /

+ (+0.00%)

09/25/20 HSBC
4imprint Group upgraded to Buy from Hold at HSBC
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4imprint Group upgraded to Buy from Hold at HSBC
Upgrade
Superdry upgraded to Hold from Sell at Berenberg » 08:55
11/26/20
11/26
08:55
11/26/20
08:55
SEPGY

Superdry

$0.00 /

+ (+0.00%)

Berenberg analyst Michael…

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SEPGY Superdry
$0.00 /

+ (+0.00%)

10/21/20 Peel Hunt
Superdry upgraded to Add from Hold at Peel Hunt
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Superdry price target lowered to 175 GBp from 230 GBp at Jefferies
05/18/20 Jefferies
Superdry price target lowered to EUR 230 from EUR 300 at Jefferies
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Downgrade
MSCI downgraded to Neutral from Overweight at Atlantic Equities » 08:55
11/26/20
11/26
08:55
11/26/20
08:55
MSCI

MSCI

$403.81 /

+4.635 (+1.16%)

Atlantic Equities analyst…

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MSCI MSCI
$403.81 /

+4.635 (+1.16%)

MSCI MSCI
$403.81 /

+4.635 (+1.16%)

10/05/20 Oppenheimer
MSCI initiated with an Outperform at Oppenheimer
10/05/20 Oppenheimer
MSCI initiated with an Outperform at Oppenheimer
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MSCI price target lowered to $311 from $336 at BMO Capital
MSCI MSCI
$403.81 /

+4.635 (+1.16%)

MSCI MSCI
$403.81 /

+4.635 (+1.16%)

Downgrade
Unilever Indonesia downgraded to Reduce from Hold at HSBC » 08:54
11/26/20
11/26
08:54
11/26/20
08:54
UNLRY

Unilever Indonesia

$0.00 /

+ (+0.00%)

HSBC analyst Selviana…

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Origin Energy downgraded to Sector Perform from Outperform at RBC Capital » 08:53
11/26/20
11/26
08:53
11/26/20
08:53
OGFGY

Origin Energy

$0.00 /

+ (+0.00%)

RBC Capital analyst…

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OGFGY Origin Energy
$0.00 /

+ (+0.00%)

08/21/20 Macquarie
Origin Energy downgraded to Neutral from Outperform at Macquarie
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Adaro Energy upgraded to Overweight from Neutral at JPMorgan » 08:52
11/26/20
11/26
08:52
11/26/20
08:52
ADOOY

Adaro Energy

$0.00 /

+ (+0.00%)

JPMorgan analyst Sumedh…

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City Developments downgraded to Neutral from Outperform at Macquarie » 08:51
11/26/20
11/26
08:51
11/26/20
08:51
CDEVY

City Developments

$0.00 /

+ (+0.00%)

Macquarie analyst Derrick…

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Rogers Sugar upgraded to Sector Perform from Underperform at National Bank » 08:50
11/26/20
11/26
08:50
11/26/20
08:50
RSGUF

Rogers Sugar

$0.00 /

+ (+0.00%)

National Bank analyst…

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RSGUF Rogers Sugar
$0.00 /

+ (+0.00%)

10/05/20 TD Securities
Rogers Sugar upgraded to Buy from Hold at TD Securities
08/06/20 TD Securities
Rogers Sugar price target raised to C$5.50 from C$5 at TD Securities
05/07/20 Scotiabank
Rogers Sugar price target lowered to C$5 from C$5.25 at Scotiabank
Recommendations
BRP Inc. price target raised to C$90 from C$85 at TD Securities » 08:49
11/26/20
11/26
08:49
11/26/20
08:49
DOOO

BRP Inc.

$54.07 /

+1.82 (+3.48%)

TD Securities analyst…

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DOOO BRP Inc.
$54.07 /

+1.82 (+3.48%)

DOOO BRP Inc.
$54.07 /

+1.82 (+3.48%)

08:48 Today RBC Capital
BRP Inc. upgraded to Outperform from Sector Perform at RBC Capital
11/20/20 TD Securities
BRP Inc. upgraded to Action List Buy ahead of earnings at TD Securities
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BRP Inc. upgraded to Action List Buy from Buy at TD Securities
11/19/20 RBC Capital
BRP Inc. price target lowered to C$75 from C$78 at RBC Capital

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