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TUBE

TubeMogul

$14.00

0.01 (0.07%)

, ADBE

Adobe

$105.81

1.73 (1.66%)

13:31
11/18/16
11/18
13:31
11/18/16
13:31

TubeMogul rises after disclosing interest from parties other than Adobe

Shares of TubeMogul (TUBE) are up 1.6% to $14.23 in afternoon trading after the company gave details about its negotiations with Adobe (ADBE) in a filing earlier, including the revelation that other potential buyers also expressed interest in the company. In the filing, TubeMogul stated in part: "On the morning of November 4, a representative of Morgan Stanley and a senior member of Adobe's corporate development team discussed the current status over the phone. The representative of Morgan Stanley informed Adobe that the TubeMogul Board was planning to pursue an offer from another strategic bidder unless Adobe made an offer that day. The agreement with the other bidder was in a form they were potentially willing to sign and subsequently announce as early as the following Monday, November 7, according to the Morgan Stanley representative. However, the representative of Morgan Stanley conveyed that the TubeMogul Board would be prepared to enter into exclusive negotiations with Adobe if Adobe made a written offer for $14.00 per share in cash and committed to negotiate and sign a definitive agreement by Wednesday, November 9...On November 7, the parties met at Weil's offices in Redwood Shores, California, where they conducted due diligence throughout the day. Representatives of PwC joined those meetings on behalf of Adobe to participate in financial and tax due diligence. As those meetings were in progress, as required by the exclusivity agreement, a representative of Morgan Stanley informed the Adobe team that two other potential bidders were continuing to reach out regarding TubeMogul and confirmed that Morgan Stanley and TubeMogul did not respond to those communications."

TUBE

TubeMogul

$14.00

0.01 (0.07%)

ADBE

Adobe

$105.81

1.73 (1.66%)

  • 15

    Dec

TUBE TubeMogul
$14.00

0.01 (0.07%)

11/10/16
JPMS
11/10/16
NO CHANGE
JPMS
Overweight
TubeMogul deal helps Adobe complete video ad offerings, says JPMorgan
JPMorgan analyst Sterling Auty said Adobe's (ADBE) acquisition of TubeMogul (TUBE) compliments the company's advertising analytics and video content tools by adding the ability to offer marketing cloud customers a solution to help execute on video advertising. The deal "could be a winner" and may add 2-4% to revenue growth and compress margins by 100 bps, depending on timing and cost synergies, said Auty, who keeps an Overweight rating on Adobe shares.
11/10/16
RILY
11/10/16
DOWNGRADE
Target $14
RILY
Neutral
TubeMogul downgraded to Neutral from Buy at B. Riley
B. Riley downgraded TubeMogul (TUBE) to Neutral citing the takeout by Adobe (ADBE). The firm raised its price target for the shares to $14 from $13.
11/10/16
RHCO
11/10/16
DOWNGRADE
RHCO
Hold
TubeMogul downgraded to Hold from Buy at SunTrust
Adobe (ADBE) has agreed to acquire TubeMogul (TUBE) for approximately $540M net of debt and cash.
11/11/16
SBSH
11/11/16
DOWNGRADE
Target $14
SBSH
Neutral
TubeMogul downgraded to Neutral from Buy at Citi
Citi analyst Mark Kelley downgraded TubeMogul (TUBE) to Neutral saying he does not expect a competing bid to Adobe's (ADBE). The analyst raised his price target for the shares to $14 from $12.
ADBE Adobe
$105.81

1.73 (1.66%)

11/16/16
BTIG
11/16/16
INITIATION
BTIG
Neutral
Adobe initiated with a Neutral at BTIG
BTIG analyst Abhinav Kapur started Adobe with a Neutral rating.
11/17/16
11/17/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Adobe (ADBE) initiated with a Neutral at BTIG. 2. Bazaarvoice (BV) initiated with a Buy at BTIG. 3. Shopify (SHOP) initiated with a Buy at BTIG. 4. iRobot (IRBT) initiated with a Buy at Dougherty. 5. Atlas Air (AAWW) initiated with an Outperform at Imperial Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

GRPN

Groupon

$4.53

0.14 (3.19%)

06:05
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ECOM

ChannelAdvisor

06:04
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PG

Procter & Gamble

$92.64

-1.76 (-1.86%)

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CHUBA

CommerceHub

$23.42

-0.06 (-0.26%)

06:04
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  • 28

    Sep

EVLV

Evine Live

$1.03

0.01 (0.98%)

06:02
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  • 28

    Sep

  • 16

    Nov

AMZN

Amazon.com

$964.65

-8.56 (-0.88%)

06:01
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  • 03

    Oct

  • 22

    Oct

ICPT

Intercept

$73.70

-24.42 (-24.89%)

06:01
09/22/17
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FB

Facebook

$171.11

-1.06 (-0.62%)

05:55
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Instagram adds Face Filters to live video, to roll out globally »

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  • 03

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  • 22

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PSTG

Pure Storage

$15.02

0.19 (1.28%)

05:55
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  • 07

    Dec

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    Dec

AABA

Altaba

$66.59

-0.33 (-0.49%)

, BABA

Alibaba

$177.39

-0.56 (-0.31%)

05:52
09/22/17
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AABA

Altaba

$66.59

-0.33 (-0.49%)

BABA

Alibaba

$177.39

-0.56 (-0.31%)

YAHOY

Yahoo Japan

$8.90

-0.08 (-0.89%)

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  • 03

    Oct

REPYY

Repsol

$18.47

0.1 (0.54%)

05:52
09/22/17
09/22
05:52
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05:52
Upgrade
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VSAR

Versartis

$21.60

-0.25 (-1.14%)

05:49
09/22/17
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BRPIF

BRP Inc.

05:48
09/22/17
09/22
05:48
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05:48
Upgrade
BRP Inc. rating change  »

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PG

Procter & Gamble

$92.64

-1.76 (-1.86%)

05:47
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Glass Lewis recommends Procter & Gamble holders vote for Nelson Peltz »

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MDXG

MiMedx

$12.27

-0.07 (-0.57%)

05:46
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  • 25

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  • 13

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  • 14

    Nov

BA

Boeing

$256.04

0.58 (0.23%)

05:45
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Boeing sees growing demand for new airplanes in Southeast Asia »

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  • 23

    Sep

05:45
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Breaking General news story  »

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SSNI

Silver Spring

$16.15

0.01 (0.06%)

, ITRI

Itron

$75.85

-0.4 (-0.52%)

05:40
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SSNI

Silver Spring

$16.15

0.01 (0.06%)

ITRI

Itron

$75.85

-0.4 (-0.52%)

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JUNO

Juno Therapeutics

$41.62

-3.59 (-7.94%)

05:38
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Syndicate
Juno Therapeutics 6.1M share Secondary priced at $41.00 »

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  • 08

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  • 22

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AA

Alcoa

$46.25

-1.25 (-2.63%)

05:38
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BOBE

Bob Evans

$77.29

-0.2 (-0.26%)

, POST

Post Holdings

$86.97

-0.39 (-0.45%)

05:38
09/22/17
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05:38
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05:38
Downgrade
Bob Evans, Post Holdings rating change  »

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BOBE

Bob Evans

$77.29

-0.2 (-0.26%)

POST

Post Holdings

$86.97

-0.39 (-0.45%)

03/08/13
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AAPL

Apple

$153.39

-2.68 (-1.72%)

05:36
09/22/17
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  • 22

    Oct

TIF

Tiffany

$89.85

-0.08 (-0.09%)

05:31
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05:31
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05:31
Downgrade
Tiffany rating change  »

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  • 03

    Oct

  • 04

    Oct

ASND

Ascendis Pharma

$27.74

-1.55 (-5.29%)

, VSAR

Versartis

$21.60

-0.25 (-1.14%)

05:27
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05:27
Recommendations
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ASND

Ascendis Pharma

$27.74

-1.55 (-5.29%)

VSAR

Versartis

$21.60

-0.25 (-1.14%)

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BDX

Becton Dickinson

$191.56

-2.44 (-1.26%)

, BCR

C.R. Bard

$317.37

-1.19 (-0.37%)

05:20
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05:20
Initiation
Becton Dickinson, C.R. Bard initiated  »

Becton Dickinson…

BDX

Becton Dickinson

$191.56

-2.44 (-1.26%)

BCR

C.R. Bard

$317.37

-1.19 (-0.37%)

03/08/13
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