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PERY

Perry Ellis

$29.10

-0.03 (-0.10%)

08:38
08/14/18
08/14
08:38
08/14/18
08:38

Perry Ellis terminates discussions with Randa Accessories Leather Goods

The special committee of the Perry Ellis board, which comprises the independent directors, confirmed that it has terminated discussions with privately-held Randa Accessories Leather Goods with respect to its revised, non-binding, unsolicited proposal to acquire 100% of the outstanding common stock of Perry Ellis for $28.90 per share in cash. The special committee of the Perry Ellis board received on August 13, the following letter from representatives of Randa: "We are writing in response to the letter received from you on Friday, August 10, 2018, in which you indicated that [Company's largest inbound licensor] is unwilling to consent to Randa's acquisition of Perry Ellis International, Inc. (the "Company"). In response to this letter, we spoke with your financial advisers to express our willingness to further increase our offer price, if George and Oscar Feldenkreis would support our transaction and assist the Company in obtaining the requisite [Company's largest inbound licensor] consent. Based on discussions your financial advisers have had since with George's representatives, we understand that the Feldenkreises have no interest in pursuing our superior proposal. We remain highly interested in acquiring the Company. If Oscar, as CEO of the Company and chief steward of delivering shareholder value, is prepared to support our transaction, including in respect of further discussions with [Company's largest inbound licensor], we would be prepared to increase our offer price, currently $1.40 per share higher than the Feldenkreis offer. Failing this support, we see no viable path to a transaction between Randa and the Company."

PERY Perry Ellis
$29.10

-0.03 (-0.10%)

02/08/18
DADA
02/08/18
INITIATION
Target $27.5
DADA
Neutral
Perry Ellis initiated with a Neutral at DA Davidson
DA Davidson analyst Andrew Burns initiated Perry Ellis with a Neutral rating and a price target of $27.50, saying the company is poised for growth thanks to its "portfolio of globally recognized brands and a healthy balance sheet". Burns further cites an improving retail backdrop, continued category expansion, and growth of the company's international and direct-to-consumer divisions.
06/01/18
SIDC
06/01/18
DOWNGRADE
SIDC
Neutral
Perry Ellis downgraded to Neutral from Buy at Sidoti
06/01/18
IFSG
06/01/18
DOWNGRADE
IFSG
Market Perform
Perry Ellis downgraded to Market Perform from Outperform at IFS Securities
06/01/18
06/01/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Southwest (LUV) downgraded to In-Line from Outperform at Imperial Capital with analyst Michael Derchin saying he expects Southwest to face unit revenue pressures through fiscal 2019 from higher capacity growth in the "weaker" off-peak period as well as heightened competition in California and Denver. 2. AbbVie (ABBV) downgraded to Neutral from Overweight at Piper Jaffray with analyst Christopher Raymond saying the stock's risk/reward, while once compelling on the reward side, may be skewing increasingly toward risk. 3. Scotts Miracle-Gro (SMG) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying the company faces challenges both in its core consumer business and in its hydroponics operation, which serves the cannabis market. 4. Owens Corning (OC) downgraded to Hold from Buy at Argus. 5. Perry Ellis (PERY) downgraded to Market Perform from Outperform at IFS Securities and to Neutral from Buy at Sidoti. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

ISRG

Intuitive Surgical

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3.29 (0.63%)

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UBER

Uber

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FIX

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NSANY

Nissan

$0.00

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Nissan to cut global output by 15% in FY19/20, Nikkei reports »

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FE

FirstEnergy

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0.28 (0.70%)

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TSLA

Tesla

$273.25

2.13 (0.79%)

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EXPO

Exponent

$56.39

0.23 (0.41%)

, AKRX

Akorn

$2.77

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AKRX

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ZSAN

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FAST

Fastenal

$71.08

0.95 (1.35%)

APHA

Aphria

$7.65

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ISRG

Intuitive Surgical

$528.04

3.29 (0.63%)

PBCT

People's United

$17.12

-0.21 (-1.21%)

I

Intelsat

$19.48

0.235 (1.22%)

LLY

Eli Lilly

$115.20

-1.23 (-1.06%)

PFE

Pfizer

$39.37

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FIVE

Five Below

$141.65

1.82 (1.30%)

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LBRT

Liberty Oilfield Services

$16.60

-0.59 (-3.43%)

18:39
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VNO

Vornado

$67.02

0.77 (1.16%)

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  • 30

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CHKP

Check Point

$120.01

-9.56 (-7.38%)

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  • 18

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CAG

Conagra Brands

$30.53

0.405 (1.34%)

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UNP

Union Pacific

$176.70

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SO

Southern Company

$51.95

-0.22 (-0.42%)

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TSLA

Tesla

$273.25

2.13 (0.79%)

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  • 22

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GLD

SPDR Gold Shares

$120.40

0.09 (0.07%)

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OSW

OneSpaWorld

$13.77

(0.00%)

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Breaking Syndicate news story on OneSpaWorld »

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SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

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OSW

OneSpaWorld

$13.77

(0.00%)

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Breaking Syndicate news story on OneSpaWorld »

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SHLD

Sears

$0.00

(0.00%)

17:32
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Sears delays filing 10-K form »

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LB

L Brands

$25.68

0.02 (0.08%)

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L Brands board supports declassification, enters into pact with Barington »

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  • 16

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TSLA

Tesla

$273.25

2.13 (0.79%)

17:17
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Breaking Periodicals news story on Tesla »

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  • 22

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AMBR

Amber Road

$8.55

-0.31 (-3.50%)

17:17
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CYCN

Cyclerion Therapeutics

$15.57

-0.68 (-4.18%)

17:15
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Breaking Syndicate news story on Cyclerion Therapeutics »

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ACDVF

Air Canada

$0.00

(0.00%)

, BA

Boeing

$380.02

2.48 (0.66%)

17:10
04/18/19
04/18
17:10
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17:10
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ACDVF

Air Canada

$0.00

(0.00%)

BA

Boeing

$380.02

2.48 (0.66%)

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