Monday, December 31, 2007
Saturday, December 29, 2007
Tuesday, March 27, 2007
Martha Stewart Gets A Boost
Shares of Martha Stewart Living Omnimedia are off more than 20% for the year to date, and 13% since late February. But now may be the time for investors to reconsider their opinion on that sinking stock.
So says Bear Stearns analyst Michael Meltz. In a client note posted Tuesday morning, Meltz pointed out that recent price weakness.
"While valuation is still not cheap, the pullback makes the shares somewhat more attractive given the company's growth profile," the analyst wrote.
Meltz told his clients that he thinks shares of the media company, founded by Martha Stewart in 1996, could benefit in coming months from positive news flow related to new deals and products, including its redesigned Web site, MarthaSteward.com
Additionally, Meltz noted that many of the company's previously announced merchandising alliances will be rolled out throughout the spring and summer, such as a collection of paints at Lowe's, crafts at Michael's Stores and home products at Macy's.
Meltz added, "We think the future looks bright for Martha Stewart, and view the company as one of the few real growth stories within the broader media space."
He upgraded his rating on the company to "peer perform" from "underperform."
Traders responded, sending shares of the company climbing 3.9%, or 65 cents, to $17.53 in Tuesday trading.
Separately on Tuesday, homebuilder KB Home said it's teaming up with Martha Stewart Living Omnimedia to build a community of 97 houses in Los Angeles County.
The community, scheduled to start welcoming residents in the fall of 2007, is the second such community that the two companies have built together in California.
Source Forbes.com
So says Bear Stearns analyst Michael Meltz. In a client note posted Tuesday morning, Meltz pointed out that recent price weakness.
"While valuation is still not cheap, the pullback makes the shares somewhat more attractive given the company's growth profile," the analyst wrote.
Meltz told his clients that he thinks shares of the media company, founded by Martha Stewart in 1996, could benefit in coming months from positive news flow related to new deals and products, including its redesigned Web site, MarthaSteward.com
Additionally, Meltz noted that many of the company's previously announced merchandising alliances will be rolled out throughout the spring and summer, such as a collection of paints at Lowe's, crafts at Michael's Stores and home products at Macy's.
Meltz added, "We think the future looks bright for Martha Stewart, and view the company as one of the few real growth stories within the broader media space."
He upgraded his rating on the company to "peer perform" from "underperform."
Traders responded, sending shares of the company climbing 3.9%, or 65 cents, to $17.53 in Tuesday trading.
Separately on Tuesday, homebuilder KB Home said it's teaming up with Martha Stewart Living Omnimedia to build a community of 97 houses in Los Angeles County.
The community, scheduled to start welcoming residents in the fall of 2007, is the second such community that the two companies have built together in California.
Source Forbes.com
Sporting tycoon buys Adidas stake
Fiona Walsh
Tuesday March 27, 2007
Guardian Unlimited
Secretive retail billionaire Mike Ashley has splashed out more than £180m on a 3.14% stake in Adidas, the German sportswear group.
News of his holding saw shares in Adidas, the world's second-largest sporting goods maker, jump €1.15 on the German stock exchange today, to €40.25 (£27.32).
Just weeks ago Mr Ashley raised £929m by floating his Sports Direct empire on the London stock market. At the time, he said he had no plans to spend the cash, but would put it in the bank instead.
Subscribe to:
Posts (Atom)
