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September 2013



Clinton Group Looks To Get Fat on NutriSystem

September 30, 2013 – Comments (0) | RELATED TICKERS: NTRI , WTW , MED

Usually activist investor holds over 5% of common stock. Sends love letter to management.

You may recall our discussions of Clinton Group from such activist campaigns as Stillwater Mining, Quality Systems and its SPAC, ROI Acquisition Corp. II. It also owns over 5% of NutriSystem, a “leading provider of a weight management system based on a low-calorie, portion-controlled, prepared meal program.”  I’m hungry just thinking about it. Clinton Group encouraged NutriSystem to can their CEO and augment their board a couple of years ago, and NutriSystem complied. Clinton Group has recently increased its NutriSystem holdings, but is dismayed by the lack of credit given to the company’s cash flow by the market.  [more]



GTA Steals $1 Billion In First Three Days Of Release

September 27, 2013 – Comments (0) | RELATED TICKERS: TTWO

GTA hits the competition and runs with a cool billion in its first three days of release.

Take-Two Interactive Software, Inc. announced that the release of Grand Theft Auto V achieved first day retail sales of $800 million and worldwide retail sales of more than $1 billion during its first three days on sale.  Take-Two claims that this is the fastest that any entertainment property, including video games and feature films, has reached this milestone.  [more]



Relational Investors Gets Results v.2.0: Timken Announces Spinoff

September 26, 2013 – Comments (0) | RELATED TICKERS: TKR , GS

Spinoffs and retirements to follow.

We have been following the Timken saga since late last year.  [more]



What To Expect From The Twitter IPO

September 24, 2013 – Comments (2) | RELATED TICKERS: FB , LNKD.DL , P

To no one’s surprise, the Twitter IPO is garnering a tremendous amount of hype, from people calling it the savior of the tech markets v.2 or the biggest ripoff since Ponzi himself.  Facebook was v.1 and we saw how that turned out, at least in the short term.  [more]



Starboard Grows Impatient With Emulex

September 18, 2013 – Comments (0) | RELATED TICKERS: ELX.DL

One of the large hedge fund investors in Emulex Corp. dashes off angry (or disappointed) letter urging immediate action.

We have been tracking the Emulex Corp. odyssey for a while now.  In July, we noted that that ELX jumped on rumors of a strategic transaction and favorite, Starboard picked up a big stake.  [more]



Good News For Pandora In Suit Vs. ASCAP

September 18, 2013 – Comments (0) | RELATED TICKERS: P

One of the biggest problems with Pandora’s business model is the gray areas in its relationships with performance rights organizations, such as ASCAP and BMI, who collect royalties on behalf of copyright owners.  They like to say they work for musicians, but that is mostly PR spin.  [more]



SunEdison Update – News of a “Spin-Off” Premature (Or Inaccurate), But SunEdison Is Selling A Piece Of Its Semiconductor Business Through An IPO

September 16, 2013 – Comments (0) | RELATED TICKERS: SUNEQ

IPO filing shows that SunEdison will maintain significant ownership as it sells a portion of its semiconductor business.   [more]



Aramark Files for IPO After 2007 LBO

September 09, 2013 – Comments (0) | RELATED TICKERS: GS , JPM

Aramark does more than give you a burger and soda at the game or hospital cafeteria, its mission is to “Deliver experiences that enrich and nourish lives.”

In January 2007, ARAMARK Corp. completed its merger, pursuant to which GS Capital Partners (Goldman Sachs), CCMP Capital Advisors, J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC, and Joseph Neubauer, Chairman and Chief Executive Officer, acquired the company for approximately $8.6 billion, including the assumption or repayment of approximately $2.0 billion of debt.  [more]



Pandora’s Strategy To Limit Mobile Listeners Works Too Well

September 03, 2013 – Comments (0) | RELATED TICKERS: P

Note:  Originally posted with additional tables here. Please let me know if financial tables can be formatted in a CAPS Blog.  Thanks.  [more]

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