Buckingham Reiterates Wayfair With a Buy Rating

May 02, 2017: Buckingham reiterates Wayfair Inc with a Buy rating and set a price target of $57. Buckingham raised the price target to $57 from $47. Buckingham sees sees Wayfair as a takeover target for WMT as part of their new strategy to pursue expertise and talent in ecommerce as it looks to regain share lost to inline competitors.

April 20, 2017: Citron Research targets longs in Wayfair again, tweets: “Why is Wayfair the ONLY retailer who uses a manual process for accounting?” Citron notes earlier Andrew Left interview with TheStreet.com: https://www.thestreet.com/story/14093925/1/furniture-retailer-wayfair-another-madoff-andrew-left.html

December 16, 2016: Hearing takeover rumors circulating about Wayfair. The rumor is that Lowes is a possible buyer at a price of $55 per share.

November 30, 2016: Wayfair reports that direct retail sales rose 52% year over year during the Thanksgiving holiday weekend. Direct retail gross sales are defined as dollars of order intake. The period of sales tracking was the five-day peak shopping period of Thanksgiving Day through Cyber Monday. The growth rate of total company gross sales was 46 percent year over year during the same period. The company experienced its strongest sales day ever on Cyber Monday with peak order volume between 9 p.m. and 12 a.m. ET. Repeat customers accounted for 58 percent of holiday sales and Wayfair’s popular mobile app made it quick and convenient for shoppers to make purchases on the go.

Wayfair Inc. engages in the e-commerce business in the United States. It offers approximately seven million products for the home under various brands.

Stock Market Forecast For Week of December 19 2016

A weekly Saturday night financial show that attempts to predict market direction for the week ahead by looking at a variety of technical and fundamental indicators. This week’s show includes commentary on the Fed’s first and only rate hike in 2016, Eli Lilly’s long-acting Basal Insulin that’s now available in the US, takeover rumors circulating about Qorvo, Protalix Biotherapeutics $24 million order to treat Gaucher patients in Brazil, the FDA approval of Vericel’s Maci for the repair of cartilage defects of the knee, Silicon Motion’s supplying of SSD solutions to the Alibaba Group, and more.

PrivateBancorp Takeover Big +24% Win

February 28, 2016: PrivateBancorp to be promoted to S&P400 index after the close of trading on February 29, 2016. S&P SmallCap 600 constituent PrivateBancorp Inc. (PVTB) will replace Sirona Dental Systems Inc. (SIRO) in the S&P MidCap 400 after the close of trading on Monday, February 29, 2016.

June 29, 2016: We had a huge 24.25% win in PrivateBancorp. Not bad for a 4 month hold. Congratulations if you made money on this trade. Details of what caused the stock to do a gap up open today are below.

PrivateBancorp, Inc. To be acquired by CIBC for ~$47/shr in cash and stock deal valued at $3.8B
CIBC announced that it has entered into a definitive agreement to acquire PrivateBancorp, Inc. and its subsidiary, The PrivateBank, a high-quality Chicago-based middle market commercial bank with US$17.7 billion in assets, complemented by private banking and wealth management capabilities.

The transaction will significantly expand CIBC’s reach in North America, and enable PrivateBancorp to continue building on its record of growth and client service under the leadership of its current management team. The acquisition will create a platform for CIBC to deliver U.S. banking services to its existing Canadian personal and business banking clients, accept deposits in the U.S., and provide commercial and private banking services to the clients of Atlantic Trust, following receipt of required approvals. Atlantic Trust, a leading U.S. private wealth management firm serving high net worth families, private foundations and endowments, was acquired by CIBC in fiscal 2014. For PrivateBancorp, the transaction will bring added financial strength, the benefits of a larger banking enterprise and deeper wealth management expertise to its clients across the U.S.

CIBC will pay US$18.80 in cash and 0.3657 of a CIBC common share for each share of PrivateBancorp common stock. Based on the June 28, 2016 closing price of CIBC’s common shares on the New York Stock Exchange (US$77.11), the total transaction value is approximately US$3.8 billion (C$4.9 billion) or US$47.00 of value per share of PrivateBancorp common stock at announcement.

PrivateBancorp is a high-quality, client-focused, middle market commercial, private banking, and wealth management organization with community banking capabilities. PrivateBancorp has approximately 1,200 employees, a leading presence in its hometown of Chicago, and a presence in 11 additional attractive U.S. markets. PrivateBancorp’s clients include middle market companies, as well as business owners, executives, entrepreneurs and families. PrivateBancorp also delivers specialty banking services to clients in specific industry segments, including healthcare and technology.

Additional Transaction Details

The total value of the consideration that PrivateBancorp common stockholders will receive upon the closing of the transaction will be based in part on the value of CIBC common shares at closing. CIBC will satisfy aggregate consideration payable to PrivateBancorp stockholders by paying approximately US$1.5 billion in cash and issuing approximately 29.5 million CIBC common shares, representing an approximately 60 per cent stock and 40 per cent cash mix.

CIBC anticipates completing the transaction during the first calendar quarter of 2017, subject to satisfaction of customary closing conditions, including approval by PrivateBancorp’s shareholders and receipt of regulatory approvals.

CIBC expects to maintain a Common Equity Tier (CET) 1 ratio at closing of at least 10 per cent. CIBC’s CET 1 ratio was 10.4 per cent as at April 30, 2016 and since has been further strengthened by the receipt of net proceeds of the sale of our interest in American Century Investments.

The transaction is expected to be accretive to CIBC’s adjusted earnings per share in year 3.

February 28, 2016: PrivateBancorp to be promoted to S&P400 index after the close of trading on February 29, 2016. S&P SmallCap 600 constituent PrivateBancorp Inc. (PVTB) will replace Sirona Dental Systems Inc. (SIRO) in the S&P MidCap 400 after the close of trading on Monday, February 29, 2016.

PrivateBancorp Inc (PVTB Updated Trend Analysis) provides customized financial services to middle market companies, business owners, executives, entrepreneurs, and families in the United States. It offers commercial and personal banking products and services, including checking, savings, and money market accounts; corporate deposits; interest-bearing and non-interest bearing demand deposits; and certificates of deposits.

Whiting Petroleum Hearing Takeover Rumors Circulating

June 16, 2016: Hearing takeover rumors circulating about Whiting Petroleum Corp. The rumor is that Exxon could be a potential acquirer with price chatter in the upper teens.

More Whiting Petroleum News

March 11, 2016: Institutional traders are increasingly buying various oil stocks ahead of the March 20, 2016 meeting where leaders will get together and try and reduce production globally to push up the price of oil. Iberia Capital raised Whiting Petroleum to an Outperform rating, from Sector Perform, and set a price target of $15. Iberia Capital analysts say that With front month NYMEX trading below the $40-$45/ bbl range that most best-of-breed E&Ps need to see before adding rigs back, Iberia analysts believe there is at least 10% incremental upside to spot oil. A 10% improvement in price should be a positive for all E&Ps, but most beneficial for oil weighted producers like Whiting Petroleum.

March 8, 2016: Susquehanna commented on US oil production. Susquehanna analysts think U.S. oil production decline could gather steam later this year as operators adjust to $30 oil. Using their coverage group as proxy, Susquehanna expects a 10% decline in U.S. oil production for the public independents.

Whiting Petroleum Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States.