Connect with us

Newsletters

The Capitalist Newsletter – June 29, 2017

Published

on

BLUE APRON SLASHES IPO PRICE TO PRE-2015 LEVELS AHEAD OF SOME NEW COMPETITION

Blue Apron was one of the first “meal kit delivery” services to hit the market. As such, the company is also one of the most recognizable companies in the industry. Which is why they’re going public. But Blue Apron, just two weeks ago, had set an initial public offering price at $15-17 per share. Now, Blue Apron has slashed its IPO price to $10-11 per share, lowering its valuation by more than $1 billion. Why the sudden slash in value? Should traders buy or avoid Blue Apron’s launch?

Read The Capitalist’s Take Here

Read More at TechCrunch Here

Read More at CNBC Here


FOR FIRST TIME, ALL US BANKS PASS FED STRESS TEST; IMMEDIATELY SPLURGE ON BUYBACKS AND DIVIDENDS

The Federal Reserve has approved plans from the 34 largest U.S. banks to use extra capital for stock buybacks, dividends and other purposes beyond a cushion against possible catastrophe.

On Wednesday, the Fed said all of the 34 banks had passed the second, tougher part of its annual stress test, showing that many of the biggest lenders have not only built up adequate capital levels but also improved their risk management procedures.

Read More at Business Insider Here

Read More at Bloomberg Here

Raven_Steel_Ad-V1
Raven_Steel_Ad-06

Read More at MarketWatch Here


STAPLES TO BE ACQUIRED BY PRIVATE EQUITY FIRM SYCAMORE FOR $6.9 BILLION

Sycamore Partners said on Wednesday it would acquire U.S. office supplies chain Staples Inc for $6.9 billion, a rare bet by a private equity firm this year in the U.S. retail sector, which has been roiled by the popularity of internet shopping.

Buyout firms largely have refrained from attempting leveraged buyouts of U.S. retailers in the past two years, amid a wave of bankruptcies in the sector that have included Sports Authority, Rue21, Gymboree and BCBG Max Azria LLC.

Sycamore’s deal for Staples, however, which Reuters was first to report would come this week, illustrates that some buyout firms are distinguishing between mall-based fashion retailers, which are vulnerable to changing consumer tastes, from retailers with a niche and rich cash flow, such as Staples.

Read More at Reuters Here

Read More at ABC News Here

Read More at Wall Street Journal Here


Closing Bell

– Wednesday, June 28th

Markets Soar UP Behind Financials as Banks Pass Stress Test

Big Insider Trades

– Salesforce.com, Inc. (CRM) President of Sales and Customer Success Maria Martinez Sells $1.2m

– Lululemon Athletica, Inc. (LULU) Director Glenn Murphy Buys $5.5m

Winners & Losers

– Spherix, Inc. (SPEX) Soars UP (70.54%) After Letter to Shareholders More Fully Explains the Acquisition of Controlling Interest in Hoth Therapeutics

– EZCORP, Inc. (EZPW) Falls DOWN (15.38%) After Failed Convertible Debt Offering

Most Talked About

First Potomac Realty Trust (FPO) Considered a Unanimous Strong Buy After News the Company will be Purchased for $1.4 billion by Government Properties

The TIP Sheets

– Wednesday, June 28th

– Staples, Inc. (SPLS) Jumps UP (8.41%)on News the Company will be Purchased for $6.9 billion by Private Equity Firm Sycamore. Expect Shares to Continue UP

Unusual Volume

The Spectranetics Corp. (SPNC) Soars UP (26.15%) on 32m Shares Traded After Announcing the Company Will be Purchased by Royal Philips for $2.1 Billion. Expect Shares to Continue UP

Click to comment

Leave a Reply

Your email address will not be published.

Continue Reading

Subscribe To Our Newsletter:



Copyright © 2020 The Capitalist. his copyrighted material may not be republished without express permission. The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this page and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements.

[email]
[email]