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ADP

ADP

$102.89

-1.52 (-1.46%)

18:32
08/21/17
08/21
18:32
08/21/17
18:32

ADP CEO: Ackman refused to meet because he needed 'leverage,' CNBC says

After ADP said its board unanimously rejected Pershing Square's three board nominees, president and CEO Carlos Rodriguez said that Bill Ackman in a phone call refused to meet because he needed "leverage" over the board, CNBC reports. "I had a conversation with Bill right before we, I guess, agreed to disagree that he was going to launch a proxy contest, and I asked him, 'Bill, I know you have a vacation, which is what's getting in the way and why you need to have an extension of this deadline, but when you get back from vacation, why can't we meet then?" Rodriguez said on CNBC's "Mad Money." The CEO claims that he and his management team saw Ackman's presentation no sooner than when it was made available to the public and that he would have appreciated the opportunity to meet with Ackman prior to its release to correct certain "wrong conclusions," the report notes. Reference Link

  • 11

    Sep

ADP ADP
$102.89

-1.52 (-1.46%)

08/17/17
EVER
08/17/17
NO CHANGE
Target $115
EVER
In Line
ADP will have difficulty reaching Pershing's margin goal, says Evercore ISI
Evercore ISI analyst David Togut believes Pershing Square today made a "strong case" for EBIT margin expansion at ADP. The analyst, however, believes 1,200 basis points of EBIT margin expansion by fiscal year 2022 will be "very difficult to achieve." Togut keeps an In Line rating on ADP with a $115 price target.
08/17/17
SBSH
08/17/17
NO CHANGE
Target $110
SBSH
Neutral
ADP placed on positive Catalyst Watch list at Citi
Citi analyst Ashwin Shirvaikar placed on ADP on its 90-day positive Catalyst Watch list while raising his price target for the shares to $110 from $98. The analyst keeps a Neutral rating on the name. Regardless of the outcome with Pershing Square, ADP will "tighten up its planning, delivery and operations in order to show it offers a better/safer alternative," Shirvaikar tells investors in a research note. He believes this should lead to a higher "base case" outcome for ADP, or $110 per share.
08/16/17
JPMS
08/16/17
NO CHANGE
Target $99
JPMS
Neutral
ADP 'reasonably priced' ahead of Pershing webcast, says JPMorgan
JPMorgan analyst Tien-tsin Huang views ADP as "reasonably priced" ahead of Pershing Sqaure's activist webcast tomorrow morning. Pershing's involvement, however, could be a "net win" for the company longer-term, Huang tells investors in a research note. The analyst keeps a Neutral rating on ADP with a $99 price target.
08/14/17
STFL
08/14/17
NO CHANGE
Target $108
STFL
Hold
Stifel analysis suggests ADP's margins are 'reasonable'
Stifel analyst David Grossman says that while he looks forward to Pershing Square's presentation Thursday, his analysis suggests ADP's margins are "reasonable" based on its business model and current mix of business. Management and the board has worked hard to balance growth and profitability against stability, Grossman tell investors in a research note partially titled, "They May Have a Case, Though Not Immediately Obvious to Us." The analyst believes any effort to improve margins will need to be viewed in the context of that trade-off. He also questions how much near-term opportunity has already been priced in the shares post Pershing's involvement. Grossman has a Hold rating on ADP with a $108 price target.

TODAY'S FREE FLY STORIES

OFIX

Orthofix

$47.73

-0.78 (-1.61%)

11:58
09/21/17
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Orthofix management to meet with SunTrust »

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LLEX

Lilis Energy

$3.99

-0.03 (-0.75%)

11:56
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Lilis Energy management to meet with SunTrust »

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ICFI

ICF International

$50.95

-0.25 (-0.49%)

11:54
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Conference/Events
ICF International management to meet with SunTrust »

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  • 21

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CRZBY

Commerzbank

$13.02

0.28 (2.20%)

, BNPQY

BNP Paribas

$39.58

-0.14 (-0.35%)

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German government is favoring Commerzbank-BNP Paribas merger, CNBC says »

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CRZBY

Commerzbank

$13.02

0.28 (2.20%)

BNPQY

BNP Paribas

$39.58

-0.14 (-0.35%)

UNCFF

UniCredit

$21.15

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MRVL

Marvell

$18.03

-0.12 (-0.66%)

11:50
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Put buyers active in Marvell as shares tick higher »

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  • 05

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TSLA

Tesla

$373.91

-1.19 (-0.32%)

11:48
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Periodicals
Tesla to stop selling cheapest Model S this weekend, Business Insider says »

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  • 02

    Oct

FANG

Diamondback Energy

$97.32

3.04 (3.22%)

11:45
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Diamondback Energy EVP Molnar sells 5,000 shares »

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FINL

Finish Line

$9.43

-0.13 (-1.36%)

11:40
09/21/17
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Options
Large spread in Finish Line ahead of earnings »

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  • 22

    Sep

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General news
Oil Action: NYMEX crude »

Oil Action: NYMEX crude…

SQ

Square

$28.24

-0.23 (-0.81%)

, INTC

Intel

$37.07

-0.16 (-0.43%)

11:32
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Square names Intel's Naveen Rao to board »

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SQ

Square

$28.24

-0.23 (-0.81%)

INTC

Intel

$37.07

-0.16 (-0.43%)

03/08/13
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  • 21

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WASH

Washington Trust

$53.05

0.15 (0.28%)

11:31
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Hot Stocks
Washington Trust increases quarterly dividend by 1c »

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UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

, CRZBY

Commerzbank

$13.02

0.28 (2.20%)

11:30
09/21/17
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Periodicals
UniCredit expresses interest in Commerzbank merger, Reuters reports »

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UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

CRZBY

Commerzbank

$13.02

0.28 (2.20%)

03/08/13
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OIH

Oil Services Holders Trust

$24.86

-0.33 (-1.31%)

11:30
09/21/17
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Options
Short-term call buyers drilling for profits in Market Vectors Oil Services Fund »

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ICPT

Intercept

$98.12

1.92 (2.00%)

11:29
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Intercept sinks after FDA safety communication cites 19 patient deaths »

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SHOR

ShoreTel

11:25
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Breaking Hot Stocks news story on ShoreTel »

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EFX

Equifax

$97.46

1.46 (1.52%)

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Periodicals
Equifax CEO to testify to Senate panel on October 4, Bloomberg says »

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  • 22

    Oct

FSLR

First Solar

$48.85

-0.01 (-0.02%)

, SPWR

SunPower

$7.86

-0.51 (-6.09%)

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Before the Move: Watch First Solar, others ahead of ITC decision »

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FSLR

First Solar

$48.85

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SPWR

SunPower

$7.86

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CSIQ

Canadian Solar

$16.02

-0.69 (-4.13%)

JKS

JinkoSolar

$26.13

-0.16 (-0.61%)

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GLNG

Golar LNG

$21.15

0.66 (3.22%)

11:20
09/21/17
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Options
Golar LNG calls active as shares see relative strength »

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$NSD

NASDAQ Market Internals

11:17
09/21/17
09/21
11:17
09/21/17
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

11:16
09/21/17
09/21
11:16
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11:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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COF

Capital One

$81.16

-0.64 (-0.78%)

11:15
09/21/17
09/21
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Options
Capital One put volume heavy and directionally bearish »

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  • 22

    Oct

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General news
Treasury announced an $88 B 3-pronged package of coupon auctions »

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PEG

PSEG

$46.31

1.08 (2.39%)

11:10
09/21/17
09/21
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11:10
Conference/Events
PSEG management to meet with Evercore ISI »

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  • 21

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09/21/17
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General news
7-Yr Note Announcement CUSIP Number data reported »

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