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Battle for CoreLogic heating up, Barron's says » 10:44
08/01/20
08/01
10:44
08/01/20
10:44
CLGX

CoreLogic

$68.14 /

-0.11 (-0.16%)

, CNNE

Cannae Holdings

$37.59 /

-0.77 (-2.01%)

Back in June, activist…

Back in June, activist investor Senator Investment Group partnered with Cannae Holdings (CNNE) to acquire CoreLogic (CLGX) at $65 a share, which was welcomed by investors, sending shares above the offering price, Carleton English writes in this week's edition of Barron's. But CoreLogic rebuffed the offer, saying that it "significantly undervalues" the company. But CoreLogic rebuffed the offer, saying that it "significantly undervalues" the company. This week, however, the duo turned up the heat on CoreLogic after what it called a series of "delay tactics," including the introduction of a poison pill to prevent a takeover, the authors notes, adding that Senator and Cannae are now seeking another investor to join their side so they can reach the 10% stake needed to call a special meeting in early October and replace nine members of CoreLogic's 12-person board with a slate that will facilitate a sale process. Reference Link

ShowHide Related Items >><<
CNNE Cannae Holdings
$37.59 /

-0.77 (-2.01%)

CLGX CoreLogic
$68.14 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.14 /

-0.11 (-0.16%)

07/24/20
Fly Intel: Top five analyst downgrades
07/24/20 Stephens
Stephens sees limited further upside for CoreLogic shares, cuts to Equal Weight
07/24/20 Stephens
CoreLogic downgraded to Equal Weight from Overweight at Stephens
07/24/20 Compass Point
CoreLogic downgraded to Neutral from Buy at Compass Point
CNNE Cannae Holdings
$37.59 /

-0.77 (-2.01%)

06/26/20 Truist
CoreLogic upgraded to Buy from Hold at SunTrust
05/14/20 Stephens
Cannae Holdings price target raised to $43 from $40 at Stephens
11/20/19 Stephens
Stephens says 'don't worry' about new CEO at Cannae Holdings
CLGX CoreLogic
$68.14 /

-0.11 (-0.16%)

  • 11
    Jun
  • 04
    Dec
CLGX CoreLogic
$68.14 /

-0.11 (-0.16%)

CNNE Cannae Holdings
$37.59 /

-0.77 (-2.01%)

CLGX CoreLogic
$68.14 /

-0.11 (-0.16%)

Hot Stocks
CoreLogic comments on Senator/Canne intent to request special meeting » 11:15
07/29/20
07/29
11:15
07/29/20
11:15
CLGX

CoreLogic

$68.70 /

+0.48 (+0.70%)

CoreLogic commented on an…

CoreLogic commented on an announcement by two of its shareholders, Senator Investment Group LP and Cannae Holdings Inc., that they intend to request a Special Meeting of Shareholders. This action follows their unsolicited June 26 proposal to acquire all outstanding shares of CoreLogic for $65.00 per share in cash. As previously announced, the CoreLogic Board undertook a thorough review of the acquisition proposal in consultation with its independent financial and legal advisors, and unanimously concluded that it significantly undervalues the Company and is not in the best interests of shareholders other than Senator and Cannae. Chairman Paul Folino said, "The Board continues to believe Senator and Cannae's proposal significantly fails to provide appropriate value to our shareholders and does not reflect our strong multi-year outlook for the business - since their June 26 proposal we have increased our 2020 earnings guidance by more than 15% and issued strong guidance for 2021 and 2022. Our outlook is supported by contracted revenue, continued efficiency improvements and our transformed, less-cyclical business mix, which will be further enhanced by our recently announced planned divestitures of two lower-margin businesses. The proposal also does not account for our substantial return of capital, including a 50% dividend increase and repurchase of $1B of shares by 2022. Further, CoreLogic continues to gain momentum as evidenced by the strong results posted last week in which our organic growth rose to 5%, margins increased by 400 basis points and we achieved record levels of free cash flow. As a result, our Board is unanimous and highly confident in its belief that CoreLogic will be able to deliver significantly more value to shareholders than this opportunistic proposal. We will continue to provide full transparency into our business so all our shareholders can participate in CoreLogic's substantial value creation potential."

ShowHide Related Items >><<
CLGX CoreLogic
$68.70 /

+0.48 (+0.70%)

CLGX CoreLogic
$68.70 /

+0.48 (+0.70%)

07/24/20
Fly Intel: Top five analyst downgrades
07/24/20 Stephens
Stephens sees limited further upside for CoreLogic shares, cuts to Equal Weight
07/24/20 Stephens
CoreLogic downgraded to Equal Weight from Overweight at Stephens
07/24/20 Compass Point
CoreLogic downgraded to Neutral from Buy at Compass Point
CLGX CoreLogic
$68.70 /

+0.48 (+0.70%)

CLGX CoreLogic
$68.70 /

+0.48 (+0.70%)

CLGX CoreLogic
$68.70 /

+0.48 (+0.70%)

Hot Stocks
Cannae, Senator propose nine independent directors for CoreLogic board » 08:20
07/29/20
07/29
08:20
07/29/20
08:20
CLGX

CoreLogic

$68.22 /

-0.58 (-0.84%)

Cannae Holdings and…

Cannae Holdings and Senator Investment Group, LP, which, directly or through affiliated entities, jointly own or have an economic interest equivalent to approximately 15% of the outstanding shares of CoreLogic, issued an open letter to fellow shareholders. In the letter, Cannae and Senator announce that they have initiated the process to call a special meeting of shareholders to elect nine independent directors to the CoreLogic Board of Directors. Cannae and Senator said in the letter: "We will seek to replace a majority, but not the entirety, of the Board. This will not be a vote to sell the Company to us for $65 per share. Rather, it will be a vote to put in place these nine independent directors who will act in the best interest of all shareholders... We appreciate the widespread shareholder support we have received. As we stated in our June 26th letter, we expect that we would be able sign a definitive merger agreement and announce the transaction within one month after the Company provides due diligence access and believe that, once signed, we will be able to consummate the transaction within two to three months. Calling a Special Meeting to replace directors introduces delay and is a suboptimal outcome for all."

ShowHide Related Items >><<
CLGX CoreLogic
$68.22 /

-0.58 (-0.84%)

CLGX CoreLogic
$68.22 /

-0.58 (-0.84%)

07/24/20
Fly Intel: Top five analyst downgrades
07/24/20 Stephens
Stephens sees limited further upside for CoreLogic shares, cuts to Equal Weight
07/24/20 Stephens
CoreLogic downgraded to Equal Weight from Overweight at Stephens
07/24/20 Compass Point
CoreLogic downgraded to Neutral from Buy at Compass Point
CLGX CoreLogic
$68.22 /

-0.58 (-0.84%)

CLGX CoreLogic
$68.22 /

-0.58 (-0.84%)

CLGX CoreLogic
$68.22 /

-0.58 (-0.84%)

Hot Stocks
Cannae to acquire 20% interest in Black Knight entity for $290M, $100M in debt » 09:18
07/27/20
07/27
09:18
07/27/20
09:18
CNNE

Cannae Holdings

$37.46 /

-1.29 (-3.33%)

Cannae Holdings announced…

Cannae Holdings announced that Black Knight has entered into a definitive equity purchase agreement with affiliates of private equity firm GTCR, to purchase Optimal Blue, a provider of secondary market solutions and actionable data services, for an enterprise value of $1.8B, subject to customary purchase price adjustments. In connection with the acquisition, Black Knight will combine its Compass Analytics business with Optimal Blue in a newly formed entity and sell a minority interest in the new entity to both Cannae and Thomas H. Lee Partners, or THL. Cannae and THL will each own approximately 20% of the new entity. Black Knight will own approximately 60% of the new entity. The acquisition is being funded with cash on hand, debt financing, and equity contributions of $290M each, or $580M total from Cannae and THL. In addition to its equity contribution, Cannae will invest $100M in debt into the newly formed entity.

ShowHide Related Items >><<
CNNE Cannae Holdings
$37.46 /

-1.29 (-3.33%)

CNNE Cannae Holdings
$37.46 /

-1.29 (-3.33%)

06/26/20 Truist
CoreLogic upgraded to Buy from Hold at SunTrust
05/14/20 Stephens
Cannae Holdings price target raised to $43 from $40 at Stephens
11/20/19 Stephens
Stephens says 'don't worry' about new CEO at Cannae Holdings
  • 11
    Jun
  • 04
    Dec
CNNE Cannae Holdings
$37.46 /

-1.29 (-3.33%)

CNNE Cannae Holdings
$37.46 /

-1.29 (-3.33%)

Downgrade
Fly Intel: Top five analyst downgrades » 10:11
07/24/20
07/24
10:11
07/24/20
10:11
TSLA

Tesla

$1,394.78 /

-118.34 (-7.82%)

, INTC

Intel

$50.00 /

-10.47 (-17.31%)

, XRX

Xerox

$16.41 /

-0.41 (-2.44%)

, EXC

Exelon

$38.64 /

-0.01 (-0.03%)

, CLGX

CoreLogic

$68.61 /

+0.28 (+0.41%)

Catch up on today's…

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Neutral from Outperform at Daiwa with analyst Jairam Nathan saying he sees a balanced risk/reward scenario going forward. Positive catalysts such as continued visibility towards strong volume growth and Battery Day in September are largely reflected in current valuations. 2. Intel (INTC) was downgraded to Underperform from Market Perform at Bernstein and Northland, to Underperform from Outperform at Exane BNP Paribas, to Underweight from Equal Weight at Barclays, to Hold from Buy at Deutsche Bank, and to Neutral from Buy at Roth Capital and BofA. 3. Xerox (XRX) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster saying expectations are low heading into the company's Q2 print as COVID-19 related headwinds accelerated in the quarter with the shift to work from home weighing on variable usage and new equipment sales. 4. Exelon (EXC) downgraded to Underperform from Neutral at Mizuho with analyst Paul Fremont saying he sees a "growing likelihood" that Exelon will issue equity to bolster its balance sheet after S&P revised its outlook of the company to negative. 5. CoreLogic (CLGX) was downgraded to Neutral from Buy at Compass Point and to Equal Weight from Overweight at Stephens. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

ShowHide Related Items >><<
XRX Xerox
$16.41 /

-0.41 (-2.44%)

TSLA Tesla
$1,394.78 /

-118.34 (-7.82%)

INTC Intel
$50.00 /

-10.47 (-17.31%)

EXC Exelon
$38.64 /

-0.01 (-0.03%)

CLGX CoreLogic
$68.61 /

+0.28 (+0.41%)

TSLA Tesla
$1,394.78 /

-118.34 (-7.82%)

07/24/20
Fly Intel: Top five analyst upgrades
07/24/20 Argus
Tesla upgraded to Buy from Hold at Argus
07/24/20 Argus
Tesla upgraded to Buy from Hold at Argus
07/24/20 Daiwa
Daiwa downgrades Tesla to Neutral saying positives priced in
INTC Intel
$50.00 /

-10.47 (-17.31%)

07/24/20 Raymond James
Intel 7nm delay positive for AMD, TSMC, Nvidia, says Raymond James
07/24/20 Loop Capital
Intel price target lowered to $50 from $59 at Loop Capital
07/24/20 Jefferies
Jefferies 'more constructive' on Intel after 7nm delay, keeps Hold rating
07/24/20 UBS
Intel price target lowered to $64 from $70 at UBS
XRX Xerox
$16.41 /

-0.41 (-2.44%)

07/24/20 JPMorgan
JPMorgan downgrades Xerox to Underweight, sees long recovery
07/24/20 JPMorgan
Xerox downgraded to Underweight from Neutral at JPMorgan
04/27/20 Loop Capital
Xerox, Park City, NetApp, HP Enterprise cut to Hold from Buy at Loop Capital
04/27/20 Credit Suisse
Xerox price target lowered to $22 from $42 at Credit Suisse
EXC Exelon
$38.64 /

-0.01 (-0.03%)

07/24/20 Mizuho
Exelon downgraded to Underperform from Neutral at Mizuho
07/21/20 BofA
Exelon downgraded to Neutral from Buy at BofA
05/20/20 Seaport Global
Seaport Global starts power and competitive retail sector with positive outlook
05/20/20 Seaport Global
Exelon initiated with a Buy at Seaport Global
CLGX CoreLogic
$68.61 /

+0.28 (+0.41%)

07/24/20 Stephens
Stephens sees limited further upside for CoreLogic shares, cuts to Equal Weight
07/24/20 Stephens
CoreLogic downgraded to Equal Weight from Overweight at Stephens
07/24/20 Compass Point
CoreLogic downgraded to Neutral from Buy at Compass Point
07/09/20 Barclays
CoreLogic downgraded to Equal Weight on limited upside at Barclays
XRX Xerox
$16.41 /

-0.41 (-2.44%)

TSLA Tesla
$1,394.78 /

-118.34 (-7.82%)

INTC Intel
$50.00 /

-10.47 (-17.31%)

EXC Exelon
$38.64 /

-0.01 (-0.03%)

CLGX CoreLogic
$68.61 /

+0.28 (+0.41%)

  • 14
    Feb
XRX Xerox
$16.41 /

-0.41 (-2.44%)

TSLA Tesla
$1,394.78 /

-118.34 (-7.82%)

INTC Intel
$50.00 /

-10.47 (-17.31%)

CLGX CoreLogic
$68.61 /

+0.28 (+0.41%)

XRX Xerox
$16.41 /

-0.41 (-2.44%)

TSLA Tesla
$1,394.78 /

-118.34 (-7.82%)

INTC Intel
$50.00 /

-10.47 (-17.31%)

CLGX CoreLogic
$68.61 /

+0.28 (+0.41%)

XRX Xerox
$16.41 /

-0.41 (-2.44%)

TSLA Tesla
$1,394.78 /

-118.34 (-7.82%)

INTC Intel
$50.00 /

-10.47 (-17.31%)

EXC Exelon
$38.64 /

-0.01 (-0.03%)

TSLA Tesla
$1,394.78 /

-118.34 (-7.82%)

Downgrade
Stephens sees limited further upside for CoreLogic shares, cuts to Equal Weight » 09:00
07/24/20
07/24
09:00
07/24/20
09:00
CLGX

CoreLogic

$68.33 /

-0.11 (-0.16%)

As previously reported,…

As previously reported, Stephens analyst John Campbell downgraded CoreLogic to Equal Weight from Overweight with a price target of $69, up from $57. While he acknowledge CoreLogic is performing at level that is likely its "highest ever," he sees too much uncertainty on the road to targets that need the support of a continued greater than $2.3T U.S. mortgage backdrop, Campbell tells investors. Even if a takeover bid comes up empty, he believes that the company will be better off "when the dust settles no matter the outcome," noting that management has already put into motion several value creation drivers, though he sees limited upside from current levels.

ShowHide Related Items >><<
CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

07/24/20 Stephens
CoreLogic downgraded to Equal Weight from Overweight at Stephens
07/24/20 Compass Point
CoreLogic downgraded to Neutral from Buy at Compass Point
07/09/20 Barclays
CoreLogic downgraded to Equal Weight on limited upside at Barclays
07/09/20 Barclays
CoreLogic downgraded to Equal Weight from Overweight at Barclays
CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

Downgrade
CoreLogic downgraded to Equal Weight from Overweight at Stephens » 08:56
07/24/20
07/24
08:56
07/24/20
08:56
CLGX

CoreLogic

$68.33 /

-0.11 (-0.16%)

Stephens analyst John…

Stephens analyst John Campbell downgraded CoreLogic to Equal Weight from Overweight with a price target of $69, up from $57.

ShowHide Related Items >><<
CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

07/24/20 Compass Point
CoreLogic downgraded to Neutral from Buy at Compass Point
07/09/20 Barclays
CoreLogic downgraded to Equal Weight on limited upside at Barclays
07/09/20 Barclays
CoreLogic downgraded to Equal Weight from Overweight at Barclays
06/29/20 Zelman
Black Knight added as Buy to Top Idea Basket at Zelman
CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

Downgrade
CoreLogic downgraded to Neutral from Buy at Compass Point » 07:24
07/24/20
07/24
07:24
07/24/20
07:24
CLGX

CoreLogic

$68.33 /

-0.11 (-0.16%)

Compass Point analyst…

Compass Point analyst Matthew Gaudioso downgraded CoreLogic to Neutral from Buy.

ShowHide Related Items >><<
CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

07/09/20 Barclays
CoreLogic downgraded to Equal Weight on limited upside at Barclays
07/09/20 Barclays
CoreLogic downgraded to Equal Weight from Overweight at Barclays
06/29/20 Zelman
Black Knight added as Buy to Top Idea Basket at Zelman
06/29/20 Truist
CoreLogic upgraded to Buy from Hold at SunTrust
CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

CLGX CoreLogic
$68.33 /

-0.11 (-0.16%)

Hot Stocks
CoreLogic up 1.3% after reporting Q2 results, guidance, dividend increase » 08:25
07/23/20
07/23
08:25
07/23/20
08:25
CLGX

CoreLogic

$68.44 /

+0.49 (+0.72%)

Shares are u[ 1.3% in…

Shares are u[ 1.3% in pre-market trading to $69.25 per share.

ShowHide Related Items >><<
CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

07/09/20 Barclays
CoreLogic downgraded to Equal Weight on limited upside at Barclays
07/09/20 Barclays
CoreLogic downgraded to Equal Weight from Overweight at Barclays
06/29/20 Zelman
Black Knight added as Buy to Top Idea Basket at Zelman
06/29/20 Truist
CoreLogic upgraded to Buy from Hold at SunTrust
CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

Hot Stocks
CoreLogic commits to $1B share repurchase by end of FY22, at least $500M in FY20 » 07:46
07/23/20
07/23
07:46
07/23/20
07:46
CLGX

CoreLogic

$68.44 /

+0.49 (+0.72%)

CoreLogic said in its Q2…

CoreLogic said in its Q2 earnings release, "The Company expects to repurchase at least $500 million of shares in 2020, $300 million of shares in 2021 and the remaining $200 million of shares in 2022 to complete its current $1 billion authorization. The $1 billion repurchase program is expected to reduce current share count by more than 15% by 2022. Our share repurchase program is expected to be more than 10% accretive to projected 2021 Adjusted EPS."

ShowHide Related Items >><<
CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

07/09/20 Barclays
CoreLogic downgraded to Equal Weight on limited upside at Barclays
07/09/20 Barclays
CoreLogic downgraded to Equal Weight from Overweight at Barclays
06/29/20 Zelman
Black Knight added as Buy to Top Idea Basket at Zelman
06/29/20 Truist
CoreLogic upgraded to Buy from Hold at SunTrust
CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

CLGX CoreLogic
$68.44 /

+0.49 (+0.72%)

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