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MCO

Moody's

$155.91

2.59 (1.69%)

, REIS

Reis

$22.99

(0.00%)

06:11
10/15/18
10/15
06:11
10/15/18
06:11

Moody's, Reis announce completion of cash tender offer for shares of Reis

Moody's (MCO) and Reis (REIS) announce that Moody's wholly-owned subsidiary, Moody's Analytics Maryland Corp., successfully completed the previously announced tender offer to purchase all of the issued and outstanding shares of common stock of Reis at a purchase price of $23.00 per share, net to the seller in cash, without interest and less any applicable withholding taxes. The tender offer expired at 11:59 p.m., New York City time, on October 12, 2018. The depositary for the tender offer has advised that as of the expiration of the tender offer, a total of 9,800,276 shares of common stock of Reis were validly tendered and not validly withdrawn in the tender offer (excluding shares with respect to which notices of guaranteed delivery were delivered) representing approximately 84.7% of Reis's outstanding shares of common stock. All of such shares have been accepted for payment in accordance with the terms of the tender offer. As a result of the tender offer, Moody's now indirectly owns a sufficient number of shares in Reis to complete a "short-form" merger under applicable Maryland law without stockholder approval. Upon completion of the merger, all outstanding shares of common stock of Reis other than shares held by Moody's, Moody's Analytics Maryland Corp., Reis, or any of their respective wholly-owned subsidiaries will be canceled and converted into the right to receive $23 per share in cash without interest thereon and less any applicable withholding taxes. Moody's expects to complete the merger later today. In addition, in connection with the merger, the common stock of Reis will cease to be traded on the NASDAQ Stock Market.

MCO

Moody's

$155.91

2.59 (1.69%)

REIS

Reis

$22.99

(0.00%)

  • 21

    Oct

  • 26

    Oct

MCO Moody's
$155.91

2.59 (1.69%)

08/06/18
MSCO
08/06/18
NO CHANGE
MSCO
Boeing, Tesla, Nvidia make Morgan Stanley 'key man risk' list
Morgan Stanley equity strategist Mark Savino noted that about 12% of CEO jobs among S&P 500 companies turned over in 2017, noting that this was the highest level of CEO departures since before the financial crisis. The 59 stocks of S&P 500 companies that had CEOs depart in 2017 underperformed the market by 11% over the next 12 months, or since the departure for instances that were less than 12 months ago, noted Savino. In cooperation with the firm's U.S. analysts, Savino and his team identified the companies in each sector they believe face the greatest level of "key man risk," which includes: Boeing (BA), Tesla (TSLA), ADT Inc. (ADT), Moody's (MCO), TransUnion (TRU), Arista Networks (ANET), Church & Dwight (CHD), Coca-Cola (KO), Monster Beverage (MNST), Coupa Software (COUP), Salesforce (CRM), FireEye (FEYE), MongoDB (MDB), Microsoft (MSFT), New Relic (NEWR), XPO Logistics (XPO), Hilton (HLT), Las Vegas Sands (LVS), Best Buy (BBY), Ulta (ULTA), Aflac (AFL), Athene Holding (ATH), Lincoln National (LNC), Arthur J. Gallagher (AJG), Chubb (CB), Amazon.com (AMZN), Activision Blizzard (ATVI), Facebook (FB), Alphabet (GOOGL), Apple (AAPL), Terex (TEX), Cleveland-Cliffs (CLF), Freeport McMoRan (FCX), FleetCor (FLT), Global Payments (GPN), Square (SQ), Jazz Pharmaceuticals (JAZZ), Cheesecake Factory (CAKE), Broadcom (AVGO), Nvidia (NVDA), Chegg (CHGG), DXC Technology (DXC), Medidata (MDSO), Pluralsight (PS), RealPage (RP), Shopify (SHOP) and T-Mobile (TMUS).
08/31/18
RILY
08/31/18
DOWNGRADE
RILY
Neutral
Reis downgraded to Neutral from Buy at B. Riley FBR
B. Riley FBR downgraded Reis (REIS) to Neutral after the company agreed to be acquired by Moody's (MCO) for $23 per share.
08/31/18
STFL
08/31/18
NO CHANGE
STFL
Hold
Moody's, S&P may underperform if debt issuance trends continue, says Stifel
Stifel analyst Shlomo Rosenbaum said that it appears August has been a particularly weak month for debt issuance, which means an "exceedingly strong September" will be needed to achieve consensus estimates for the respective ratings businesses of Moody's (MCO) and S&P Global (SPGI). Structured finance deals, which are particularly lucrative, have been offsetting year-over-year issuance declines in other parts of the ratings business, but the dollar and issuance volumes in the structured securities and loans areas are both down materially quarter-to-date, added Rosenbaum. He maintains Hold ratings on both Moody's and S&P Global.
10/09/18
UBSW
10/09/18
NO CHANGE
UBSW
Buy
Ratings agencies Q3 estimates still too high, says UBS
UBS analyst Alex Kramm adjusted his estimates for the rating agencies ahead of Q3 results but still remains below Street expectations for both Moody's (MCO) and S&P Global (SPGI). He likes the setup for better refi activity in 2019, but he expects continued choppiness in the near-term on the back of rising rates and volatility.
REIS Reis
$22.99

(0.00%)

03/12/18
LSCM
03/12/18
NO CHANGE
Target $24
LSCM
Buy
Reis target raised to $24 amid strategic exploration at Lake Street
Lake Street analyst Mark Argento raised his price target for Reis, Inc. to $24 from $22 after the company hired lawyers and a financial advisor to explore strategic alternatives in order to maximize shareholder value. Reis' "robust, profitable commercial real estate data platform would be an excellent tuck-in for one of the large financial data providers," Argento tells investors in a research note. He views $24 per share as a "fair baseline for a potential takeout" and keeps a Buy rating on Reis.

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