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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

ANET

Arista Networks

$121.35

-1.27 (-1.04%)

11:07
02/22/17
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11:07
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11:07
Conference/Events
Arista Networks management to meet with Needham »

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    Mar

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    Mar

FB

Facebook

$133.72

0.19 (0.14%)

11:06
02/22/17
02/22
11:06
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11:06
Hot Stocks
Instagram announces update allowing sharing of multiple photos in one post »

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    Mar

WMAR

West Marine

$9.15

-0.01 (-0.11%)

11:06
02/22/17
02/22
11:06
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11:06
Conference/Events
West Marine management to meet with B. Riley »

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  • 23

    Feb

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    Feb

AAP

Advance Auto Parts

$157.00

-4.155 (-2.58%)

11:06
02/22/17
02/22
11:06
02/22/17
11:06
Options
Advance Auto Parts call volume above normal and directionally bullish »

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AMTD

TD Ameritrade

$43.28

0.13 (0.30%)

11:05
02/22/17
02/22
11:05
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11:05
Conference/Events
TD Ameritrade management to meet with William Blair »

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  • 22

    Feb

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    Feb

AMD

AMD

$14.00

0.87 (6.63%)

11:04
02/22/17
02/22
11:04
02/22/17
11:04
Conference/Events
AMD management to meet with Canaccord »

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  • 22

    Feb

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    Feb

MOBL

MobileIron

$4.90

0.15 (3.16%)

11:04
02/22/17
02/22
11:04
02/22/17
11:04
Hot Stocks
MobileIron forms Internet of Things division »

MobileIron announced that…

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  • 22

    Feb

MOBL

MobileIron

$4.90

0.15 (3.16%)

11:04
02/22/17
02/22
11:04
02/22/17
11:04
Hot Stocks
MobileIron forms Internet of Things division »

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  • 22

    Feb

AMD

AMD

$14.00

0.87 (6.63%)

11:04
02/22/17
02/22
11:04
02/22/17
11:04
Technical Analysis
AMD ticks fresh multi-year and 52-week high »

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  • 22

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MRVL

Marvell

$16.21

0.4 (2.53%)

11:04
02/22/17
02/22
11:04
02/22/17
11:04
Conference/Events
Marvell management to meet with B. Riley »

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  • 27

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  • 05

    Apr

SQ

Square

$14.70

0.07 (0.48%)

, AAPL

Apple

$136.70

0.98 (0.72%)

11:02
02/22/17
02/22
11:02
02/22/17
11:02
Earnings
On The Fly: What to watch in Square earnings report »

Square (SQ) is scheduled…

SQ

Square

$14.70

0.07 (0.48%)

AAPL

Apple

$136.70

0.98 (0.72%)

03/08/13
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  • 22

    Feb

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CWBC

Community West Bancshares

$10.13

0.0252 (0.25%)

11:02
02/22/17
02/22
11:02
02/22/17
11:02
Hot Stocks
Community West Bancshares says CFO Baltuskonis to retire July 2017 »

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AFL

Aflac

$71.36

-0.06 (-0.08%)

11:02
02/22/17
02/22
11:02
02/22/17
11:02
Conference/Events
Aflac management to meet with Sandler O'Neill »

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  • 22

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  • 05

    Mar

ARGS

Argos Therapeutics

$4.40

-0.3 (-6.38%)

10:56
02/22/17
02/22
10:56
02/22/17
10:56
Downgrade
Argos Therapeutics rating change  »

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  • 23

    Feb

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CPB

Campbell Soup

$59.42

0.47 (0.80%)

10:56
02/22/17
02/22
10:56
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10:56
Hot Stocks
Campbell Soup CEO repeats plan to achieve $300M in cost savings by end of FY17 »

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  • 22

    Feb

TSO

Tesoro

$88.39

-0.69 (-0.77%)

10:56
02/22/17
02/22
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10:56
Options
Tesoro put volume heavy and directionally bearish »

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AMD

AMD

$14.00

0.87 (6.63%)

, INTC

Intel

$36.52

0.04 (0.11%)

10:53
02/22/17
02/22
10:53
02/22/17
10:53
Periodicals
AMD looks to challenge Intel's PC processor dominance, FT says »

With a new type of…

AMD

AMD

$14.00

0.87 (6.63%)

INTC

Intel

$36.52

0.04 (0.11%)

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  • 22

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CEO

CNOOC

$121.51

-1.14 (-0.93%)

10:52
02/22/17
02/22
10:52
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10:52
Recommendations
CNOOC analyst commentary  »

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QVCA

Liberty Interactive

$19.71

0.41 (2.12%)

10:51
02/22/17
02/22
10:51
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10:51
Technical Analysis
Liberty Interactive spikes higher on very heavy volume »

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UAA

Under Armour

$22.25

0.47 (2.16%)

10:48
02/22/17
02/22
10:48
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10:48
Options
Under Armour calls active as shares tick higher »

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EAT

Brinker

$42.55

-1.32 (-3.01%)

10:45
02/22/17
02/22
10:45
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10:45
Conference/Events
Brinker management to meet with Maxim »

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  • 22

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  • 03

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KR

Kroger

$33.05

-1.175 (-3.43%)

10:41
02/22/17
02/22
10:41
02/22/17
10:41
Options
Pre-earnings jitters in Kroger as shares slide »

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UNP

Union Pacific

$108.18

-1.495 (-1.36%)

10:39
02/22/17
02/22
10:39
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10:39
Hot Stocks
Breaking Hot Stocks news story on Union Pacific »

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  • 22

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ECPG

Encore Capital

10:38
02/22/17
02/22
10:38
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10:38
Periodicals
Cabot Credit considering London stock listing, Sky News reports »

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  • 23

    Feb

UNP

Union Pacific

$108.18

-1.49 (-1.36%)

10:38
02/22/17
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Hot Stocks
Breaking Hot Stocks news story on Union Pacific »

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  • 22

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