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Digital Ally, Inc. stock price
Digital Ally, Inc. latest news:
Tiffany & Co.'s price target raised after company announces fiscal 2018 spending plan
Tiffany & Co.'s price target was bumped up to $108 from $96 at Wells Fargo after the luxury jeweler announced plans to reinvest its tax reform savings in the business. Analysts maintained their market perform stock rating. Tiffany shares are up 2.1% in Wednesday trading. "What's most interesting about this is that Tiffany is essentially saying that they plan to reinvest all of their upcoming tax upside (which we estimate to be 35-to-40 cents) back into the business - a prudent move given their need to invest more heavily in sales driving initiatives," the Wells Fargo note says. During Wednesday's premarket, Tiffany announced its holiday sales figures and said it would take a $115 million-to-$165 million charge for the quarter ending Jan. 31, 2018 to reevaluate deferred tax assets and repatriation tax on foreign earnings. For fiscal 2018, Tiffany "anticipates increased levels of spending in a number of areas, including technology, marketing communications, visual merchandising, digital and store presentations," the release said. Wells Fargo analysts believe this strategy could be a positive in the long term "as Tiffany's top-line performance has been choppy for the past few years, potentially requiring significant investment to reinvigorate growth." Tiffany shares are up 37.4% for the past year, outpacing the S&P 500 index , which is up 23.3% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Toshiba settles with Western Digital, clearing path for Bain-Apple acquisition
Toshiba Corp. and Western Digital Corp. officially settled litigation Tuesday that should clear a path for a long-planned sales of Toshiba's flash-memory unit. Toshiba has agreed to sell the business to a consortium led by private-equity firm Bain Capital, which includes Apple Inc. , Dell Technologies Inc., Seagate Technology PLC and others. Western Digital made its own bid for the assets, and eventually sued Toshiba based on joint-manufacturing agreements. Western Digital confirmed reports earlier in the day of a settlement with a filing Tuesday afternoon that breaks down the revised agreement for new manufacturing facilities. Toshiba is seeking to sell its profitable flash-memory unit as part of an effort to avoid having its stock delisted in Japan due to struggles at its U.S. nuclear subsidiary, Westinghouse. Western Digital shares increased more than 2% in after-hours trading Tuesday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
CME CEO says futures exchange for bitcoin will be ready 2nd week of December
CME Group CEO Terry Duffy said futures contracts pegged to bitcoin on its exchange could be ready as soon as the second week of December. The CME boss made his comments during a Monday interview on CNBC, where he also discussed the inherent volatility in the worlds' No. 1 digital currency, which has seen its value soar in value in 2017, fueling outsize interest from average investors and Wall Street players alike. Bitcoin has soared more than 500% year to date, compared with a roughly 15% climb for the S&P 500 index , an 18% rally for the Dow Jones Industrial Average , so far in 2017, and a nearly 26% return for the Nasdaq Composite Index over the same period. The CME kicked off a product to reference bitcoin prices a year ago, and late last month announced a plans to launch futures contracts, which could pave the way for investment funds and other investors to make big bets on the vagaries of the popular, and very volatile, cybercurrency.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
UPDATE: Digital Ally shares surge 36% premarket after company puts itself up for sale
Digital Ally Inc. shares jumped 36% in premarket trade Wednesday, after the video recording equipment and analytic software company said it is exploring its strategic alternatives including a possible sale of the company. The Lenexa, Kansas-based company said options include "monetizing its patent portfolio and related patent infringement litigation against Axon Enterprise, Inc. ("Axon," formerly known as TASER International, Inc.) and Enforcement Video, LLC d/b/a WatchGuard Video ("WatchGuard"), the sale of the company as a whole, or the sale of select properties or groups of properties or individual businesses." The company has retained Roth Capital as adviser and has already received several unsolicited inquiries involving a variety of possible deals. Shares have fallen 57% in 2017, while the S&P 500 has gained about 16%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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