Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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Wall Street’s crypto bull Tom Lee slashes year-end bitcoin price forecast nearly in half

Wall Street’s best-known cryptocurrency bull just cut his bitcoin price target nearly in half. A key driver was bitcoin’s “break-even” point, the level at which mining costs match the trading price. Much of that price movement was driven by “crypto-specific” events including the contentious argument over bitcoin cash, Lee said. The digital currency split into two versions — “Bitcoin ABC,” or core Bitcoin Cash, and “Bitcoin SV,” short for “Satoshi’s Vision.” Bitcoin Cash itself is a result of a


Wall Street’s best-known cryptocurrency bull just cut his bitcoin price target nearly in half. A key driver was bitcoin’s “break-even” point, the level at which mining costs match the trading price. Much of that price movement was driven by “crypto-specific” events including the contentious argument over bitcoin cash, Lee said. The digital currency split into two versions — “Bitcoin ABC,” or core Bitcoin Cash, and “Bitcoin SV,” short for “Satoshi’s Vision.” Bitcoin Cash itself is a result of a
Wall Street’s crypto bull Tom Lee slashes year-end bitcoin price forecast nearly in half Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: kate rooney, scott mlyn
Keywords: news, cnbc, companies, tom, forecast, target, trading, streets, cash, nearly, mining, wall, slashes, yearend, price, bitcoin, week, half, lee, level, cryptocurrency


Wall Street's crypto bull Tom Lee slashes year-end bitcoin price forecast nearly in half

Wall Street’s best-known cryptocurrency bull just cut his bitcoin price target nearly in half.

Tom Lee, co-founder of Fundstrat Global Advisors, lowered his year-end target to $15,000 from $25,000 — still well above where the cryptocurrency was trading on Friday.

A key driver was bitcoin’s “break-even” point, the level at which mining costs match the trading price. That level is down to $7,000 from an earlier estimate of $8,000 for the S9 mining machine by Bitmain, according to Fundstrat’s data science team. Based on that, Lee estimates that fair value for bitcoin would be roughly 2.2 times the new $7,000 break-even price.

Bitcoin is trading well below that, near $5,539 on Friday, according to data from CoinDesk. This week, the majority of major cryptocurrencies saw double-digit downward swings, and bitcoin hit its lowest level of the year.

But Lee is betting on a recovery. He told clients in a note Friday that even in the depths of a previous bitcoin bear market between 2013 and 2015, it “never sustained a move below breakeven.”

“While bitcoin broke below that psychologically important $6,000, this has lead to a renewed wave of pessimism,” said Lee, J. P. Morgan’s former chief equity strategist. “But we believe the negative swing in sentiment is much worse than the fundamental implications.”

Much of that price movement was driven by “crypto-specific” events including the contentious argument over bitcoin cash, Lee said. This week, the cryptocurrency community sparred on Twitter over what’s known as a “hard fork” of bitcoin cash. The digital currency split into two versions — “Bitcoin ABC,” or core Bitcoin Cash, and “Bitcoin SV,” short for “Satoshi’s Vision.” Bitcoin Cash itself is a result of a fork from bitcoin, after a disagreement on the best way to scale a digital currency.

For much of October, bitcoin seemed immune to a sell-off in global financial markets. The cryptocurrency traded comfortably in the $6,400 range before falling off a cliff on Wednesday.

Still, Lee is bullish on more institutional involvement bolstering prices into the end of this year. The launch of ICE, Starbucks and Microsoft-backed Bakkt and Fidelity entering the market is “part of a broader creation of infrastructure necessary for institutional involvement,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: kate rooney, scott mlyn
Keywords: news, cnbc, companies, tom, forecast, target, trading, streets, cash, nearly, mining, wall, slashes, yearend, price, bitcoin, week, half, lee, level, cryptocurrency


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Cramer Remix: This tech play can withstand Wall Street’s pushback

Jim Cramer’s job is to keep in touch with what’s hot and what’s not on Wall Street and to help investors make sense of the stock market’s swings. And recently, technology play Twilio has really impressed the CNBC host. “Some companies are so incredibly well-run that they can triumph even when the Wall Street taste-makers are against them,” Cramer said on “Mad Money” after a notable marketwide sell-off. The best part, he added, was that Twilio’s software-as-a-service story is “still in its very e


Jim Cramer’s job is to keep in touch with what’s hot and what’s not on Wall Street and to help investors make sense of the stock market’s swings. And recently, technology play Twilio has really impressed the CNBC host. “Some companies are so incredibly well-run that they can triumph even when the Wall Street taste-makers are against them,” Cramer said on “Mad Money” after a notable marketwide sell-off. The best part, he added, was that Twilio’s software-as-a-service story is “still in its very e
Cramer Remix: This tech play can withstand Wall Street’s pushback Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: elizabeth gurdus, jim urquhart, scott mlyn, pradeep gaur, mint, getty images
Keywords: news, cnbc, companies, cramer, wall, withstand, tech, remix, stock, marketwide, street, streets, twilios, pushback, companies, twilio, play, technology, whats


Cramer Remix: This tech play can withstand Wall Street's pushback

Jim Cramer’s job is to keep in touch with what’s hot and what’s not on Wall Street and to help investors make sense of the stock market’s swings. And recently, technology play Twilio has really impressed the CNBC host.

“Some companies are so incredibly well-run that they can triumph even when the Wall Street taste-makers are against them,” Cramer said on “Mad Money” after a notable marketwide sell-off.

Last week, the stock of Twilio — which helps companies like Uber and Airbnb develop and deliver push technology through their apps and connect with customers — surged 35 percent in a single day after the company reported a blowout earnings report.

Even Cramer didn’t expect results that strong. The best part, he added, was that Twilio’s software-as-a-service story is “still in its very early innings.”

“But thanks to the latest marketwide turmoil, … Twilio’s shares have pulled back dramatically from their highs, falling from $98 and change … to $84 as of today,” Cramer said. “To me, it feels like a real bargain at these levels, although, of course, I’d like it lower, particularly if people keep talking about the bear market.”


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: elizabeth gurdus, jim urquhart, scott mlyn, pradeep gaur, mint, getty images
Keywords: news, cnbc, companies, cramer, wall, withstand, tech, remix, stock, marketwide, street, streets, twilios, pushback, companies, twilio, play, technology, whats


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Cramer: Fed chief Powell needs to pause hikes next year — he can’t ask for a do-over

CNBC’s Jim Cramer urged Jerome Powell to soften his rhetoric on interest rate hikes ahead of the Federal Reserve chairman’s expected comments at an event in Texas on Wednesday night. “All he has to do is say ‘I’m winning in some places,'” Cramer said on “Squawk on the Street.” “He can’t say, ‘I take it back, I want a do-over,'” Cramer added. Cramer has been critical of Powell, agreeing with President Donald Trump, but for different reasons, that rate increases should be halted. Powell and Dallas


CNBC’s Jim Cramer urged Jerome Powell to soften his rhetoric on interest rate hikes ahead of the Federal Reserve chairman’s expected comments at an event in Texas on Wednesday night. “All he has to do is say ‘I’m winning in some places,'” Cramer said on “Squawk on the Street.” “He can’t say, ‘I take it back, I want a do-over,'” Cramer added. Cramer has been critical of Powell, agreeing with President Donald Trump, but for different reasons, that rate increases should be halted. Powell and Dallas
Cramer: Fed chief Powell needs to pause hikes next year — he can’t ask for a do-over Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: berkeley lovelace jr, scott mlyn
Keywords: news, cnbc, companies, reserve, powell, cramer, say, cant, needs, president, pause, ask, expected, chief, doover, fed, rate, hikes, rhetoric, rates


Cramer: Fed chief Powell needs to pause hikes next year — he can't ask for a do-over

CNBC’s Jim Cramer urged Jerome Powell to soften his rhetoric on interest rate hikes ahead of the Federal Reserve chairman’s expected comments at an event in Texas on Wednesday night.

“All he has to do is say ‘I’m winning in some places,'” Cramer said on “Squawk on the Street.” “‘And it shows that maybe after the December hike, if I keep getting [wins], maybe I should pause.'”

“He can’t say, ‘I take it back, I want a do-over,'” Cramer added.

Cramer has been critical of Powell, agreeing with President Donald Trump, but for different reasons, that rate increases should be halted. Cramer has argued the central bank should increase rates one more time this year and then “wait and see.”

The Fed has already raised rates three times this year, and one more is expected in December.

Last month, Powell said the cost of borrowing money was a long way from so-called neutral, sparking concerns about a more aggressive Fed tightening that led to October being the worst month for the S&P 500 since September 2011.

Powell and Dallas Federal Reserve Bank President Robert Kaplan are expected to speak Wednesday on global economic issues in Dallas.

Cramer said Wednesday that Powell softening his rhetoric would give the Fed chief a “little wiggle room” but “would also explain that he doesn’t have to burn down the village to save it.”

The Fed declined to comment on Cramer’s remarks.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: berkeley lovelace jr, scott mlyn
Keywords: news, cnbc, companies, reserve, powell, cramer, say, cant, needs, president, pause, ask, expected, chief, doover, fed, rate, hikes, rhetoric, rates


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Renowned energy trader Mark Fisher says the worst is over for oil and it’s time to buy

Renowned energy trader Mark Fisher on Wednesday said the “worst is over” for the crude oil market following a six-week rout that has seen U.S. crude lose over a quarter of its value. The market outlook for crude oil has recently flipped. Investors were worried about a shortage of oil as U.S. sanctions shrank Iran’s crude exports. However, Fisher theorized that much of the drop in oil prices is due to macro funds getting out of the crude trade and rotating into natural gas futures. He argued that


Renowned energy trader Mark Fisher on Wednesday said the “worst is over” for the crude oil market following a six-week rout that has seen U.S. crude lose over a quarter of its value. The market outlook for crude oil has recently flipped. Investors were worried about a shortage of oil as U.S. sanctions shrank Iran’s crude exports. However, Fisher theorized that much of the drop in oil prices is due to macro funds getting out of the crude trade and rotating into natural gas futures. He argued that
Renowned energy trader Mark Fisher says the worst is over for oil and it’s time to buy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: berkeley lovelace jr, tom dichristopher, scott mlyn
Keywords: news, cnbc, companies, market, buy, gas, trader, outlook, natural, getting, trade, fisher, oil, worst, mark, energy, renowned, crude


Renowned energy trader Mark Fisher says the worst is over for oil and it's time to buy

Renowned energy trader Mark Fisher on Wednesday said the “worst is over” for the crude oil market following a six-week rout that has seen U.S. crude lose over a quarter of its value.

The MBF Clearing founder and CEO said he’d be a buyer right now rather than a seller.

The market outlook for crude oil has recently flipped. Investors were worried about a shortage of oil as U.S. sanctions shrank Iran’s crude exports. But the market now expects supply to outstrip demand as the outlook for consumption growth weakens and Washington allows some Iranian crude shipments to continue.

However, Fisher theorized that much of the drop in oil prices is due to macro funds getting out of the crude trade and rotating into natural gas futures. He argued that for years, buying oil and selling natural gas has been a huge winner.

“In no short period of time this trade has imploded,” he said. “And I’m sure there is a ton of people getting, you know, margin called out of this trade, where they’re being forced to buy nat gas and sell crude oil, and that’s added to this … new debacle.”


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: berkeley lovelace jr, tom dichristopher, scott mlyn
Keywords: news, cnbc, companies, market, buy, gas, trader, outlook, natural, getting, trade, fisher, oil, worst, mark, energy, renowned, crude


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Cramer: Wall Street is ‘absurd’ for punishing Home Depot for good earnings

Wall Street is crazy for punishing Home Depot for a great quarterly earnings report, CNBC’s Jim Cramer argued on Tuesday. “Home Depot was not dead,” Cramer said on “Squawk on the Street” as the Dow component was falling sharply. For Advanced Auto Parts to be up so strongly “on a very small comp beat and Home Depot to be down?” Before the bell on Tuesday, Home Depot reported third-quarter earnings that beat analyst expectations. However, shares of Home Depot opened about 1 percent lower and more


Wall Street is crazy for punishing Home Depot for a great quarterly earnings report, CNBC’s Jim Cramer argued on Tuesday. “Home Depot was not dead,” Cramer said on “Squawk on the Street” as the Dow component was falling sharply. For Advanced Auto Parts to be up so strongly “on a very small comp beat and Home Depot to be down?” Before the bell on Tuesday, Home Depot reported third-quarter earnings that beat analyst expectations. However, shares of Home Depot opened about 1 percent lower and more
Cramer: Wall Street is ‘absurd’ for punishing Home Depot for good earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: berkeley lovelace jr, scott mlyn
Keywords: news, cnbc, companies, improvement, dow, beat, sales, cramer, wall, good, shares, street, depot, absurd, punishing, earnings


Cramer: Wall Street is 'absurd' for punishing Home Depot for good earnings

Wall Street is crazy for punishing Home Depot for a great quarterly earnings report, CNBC’s Jim Cramer argued on Tuesday.

“Home Depot was not dead,” Cramer said on “Squawk on the Street” as the Dow component was falling sharply.

For Advanced Auto Parts to be up so strongly “on a very small comp beat and Home Depot to be down?” Cramer asked.

That’s “absurd,” he argued.

Before the bell on Tuesday, Home Depot reported third-quarter earnings that beat analyst expectations. The home improvement giant also raised its full-year sales outlook.

Initially, in premarket trading, Home Depot was jumping higher, prompting Cramer’s early morning tweet about whether the stock could help reverse Monday’s more than 600-point drop in the Dow Jones Industrial Average.

However, shares of Home Depot opened about 1 percent lower and more than doubled that decline.

Cramer, whose charitable trust does not own shares of Home Depot, has said he prefers that home improvement retailer over rival Lowe’s because of what he called generally better earnings results, same-store sales, and growth.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: berkeley lovelace jr, scott mlyn
Keywords: news, cnbc, companies, improvement, dow, beat, sales, cramer, wall, good, shares, street, depot, absurd, punishing, earnings


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With 65 percent of S&P in correction, maybe it is time for bonds again

Since these bond funds won’t actually have a finite maturity date, you could rebalance them periodically since their dollar amounts will fluctuate, some more than others. This way, you could stick with an appropriate risk/reward level and take advantage of price discrepancies between the bond funds. Obviously, the value of all four positions has changed, which offers a chance to the investor to rebalance the bond funds back to the original allocations. Newer bond ETFs offer the diversification o


Since these bond funds won’t actually have a finite maturity date, you could rebalance them periodically since their dollar amounts will fluctuate, some more than others. This way, you could stick with an appropriate risk/reward level and take advantage of price discrepancies between the bond funds. Obviously, the value of all four positions has changed, which offers a chance to the investor to rebalance the bond funds back to the original allocations. Newer bond ETFs offer the diversification o
With 65 percent of S&P in correction, maybe it is time for bonds again Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: mitch goldberg, guest contributor, scott olson, getty images, stephanie keith, michael phillips, chip somodevilla, scott mlyn, eddie seal
Keywords: news, cnbc, companies, maturity, correction, fund, sp, bonds, interest, bond, went, maybe, rates, etfs, investor, 65, funds


With 65 percent of S&P in correction, maybe it is time for bonds again

1. For individual bonds, you can ladder them.

This means buying bonds with consecutive annual maturities, i.e., maturing every year for the next five years, and when the bond that matures in one year matures, reinvest the principal into a new bond with a five-year maturity. It’s a compromise that allows for adjustments to changes in interest rates and inflation, but it lowers your interest income because you didn’t invest all of your funds into just the five-year bond.

2. With traditional mutual funds, you can build a diversified portfolio of bonds and maturities.

Since these bond funds won’t actually have a finite maturity date, you could rebalance them periodically since their dollar amounts will fluctuate, some more than others. This way, you could stick with an appropriate risk/reward level and take advantage of price discrepancies between the bond funds.

For example, let’s say an investor invests an equal amount into a money market fund yielding 2 percent and three different kinds of investment-grade bond ETFs: short-term, mid-term and long-term. Due to rising interest rates, the long- term went down 12 percent, the mid-term one went down 6 percent, and the short term one went down 2 percent, while the money market fund was up by 2 percent. Obviously, the value of all four positions has changed, which offers a chance to the investor to rebalance the bond funds back to the original allocations.

3. Newer bond ETFs offer the diversification of a bond fund with the maturity date of an individual bond.

ETF companies, including BlackRock and Invesco, have developed bond ETFs, both corporate and munis, with maturity dates. I use these to build highly diversified, laddered bond portfolios. They make this last part much easier to execute and understand. An investor can use these ETFs to build out a portfolio with consecutive annual maturities, reinvesting this year’s maturing bond ETF into a new one five years out.

It’s often been said that bonds are boring, but this year’s declines as the Fed raises rates have made them more exciting — and frightening. But for most of my clients who invest in them, the boring nature for which bonds can usually be depended on is a good thing.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: mitch goldberg, guest contributor, scott olson, getty images, stephanie keith, michael phillips, chip somodevilla, scott mlyn, eddie seal
Keywords: news, cnbc, companies, maturity, correction, fund, sp, bonds, interest, bond, went, maybe, rates, etfs, investor, 65, funds


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Cramer Remix: This stock has engineered the greatest turnaround story of our era

So, on Tuesday, the “Mad Money” host profiled the turnaround at Bausch Health Companies, the drugmaker formerly known as Valeant Pharmaceuticals. Under the leadership of Chairman and CEO Joe Papa, Bausch has undergone what Cramer said “may be the greatest turnaround story of this particular era.” The company’s latest quarterly report handily beat expectations on earnings and revenue, with organic revenue growth in all of its segments. Joe Papa has orchestrated an amazing comeback at Bausch Healt


So, on Tuesday, the “Mad Money” host profiled the turnaround at Bausch Health Companies, the drugmaker formerly known as Valeant Pharmaceuticals. Under the leadership of Chairman and CEO Joe Papa, Bausch has undergone what Cramer said “may be the greatest turnaround story of this particular era.” The company’s latest quarterly report handily beat expectations on earnings and revenue, with organic revenue growth in all of its segments. Joe Papa has orchestrated an amazing comeback at Bausch Healt
Cramer Remix: This stock has engineered the greatest turnaround story of our era Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: elizabeth gurdus, aly song, kevin lamarque, alex edelman, afp, getty images, scott mlyn
Keywords: news, cnbc, companies, joe, papa, valeant, turnaround, remix, revenue, cramer, money, host, stock, bausch, era, mad, greatest, engineered


Cramer Remix: This stock has engineered the greatest turnaround story of our era

In an uncertain investing environment, CNBC’s Jim Cramer likes to highlight “the best of the best” of the “slowdown plays,” or stocks that do well in a weaker economy.

So, on Tuesday, the “Mad Money” host profiled the turnaround at Bausch Health Companies, the drugmaker formerly known as Valeant Pharmaceuticals. Under the leadership of Chairman and CEO Joe Papa, Bausch has undergone what Cramer said “may be the greatest turnaround story of this particular era.”

Shares of Bausch, which changed its name from Valeant in July 2018, have more than tripled from their April 2017 lows. The company’s latest quarterly report handily beat expectations on earnings and revenue, with organic revenue growth in all of its segments.

“How did Papa do it? First, he told us that he was going to start cleaning up the hideous balance sheet,” Cramer said. “Second, he explained that Valeant really did have an attractive pipeline of new drugs, they just needed to double down on developing the good ones. Third, he had to … motivate the staff. It was an incredibly dispirited workforce.”

The CEO’s hard work has already paid off, but according to Cramer, Bausch’s stock is “not done” and is “dirt-cheap” at its current price-to-earnings multiple of seven times next year’s earnings estimates.

“The bottom line? Joe Papa has orchestrated an amazing comeback at Bausch Health. The results speak for themselves, which is why I believe, in the end, this story has more room to run,” the “Mad Money” host said.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: elizabeth gurdus, aly song, kevin lamarque, alex edelman, afp, getty images, scott mlyn
Keywords: news, cnbc, companies, joe, papa, valeant, turnaround, remix, revenue, cramer, money, host, stock, bausch, era, mad, greatest, engineered


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Apptio soars 50% on $1.94 billion deal with Vista Equity Partners to go private

Shares of software company Apptio soared more than 50 percent Monday after the company said it had agreed to be bought by private equity firm Vista Equity Partners for $1.94 billion in cash, two years after going public. The stock traded as high as $37.80 in morning trading, just shy of the $38-per-share price that Vista offered to take the company private. The deal would help the company bring its products to the market faster, Apptio co-founder and Chief Executive Officer Sunny Gupta told Reut


Shares of software company Apptio soared more than 50 percent Monday after the company said it had agreed to be bought by private equity firm Vista Equity Partners for $1.94 billion in cash, two years after going public. The stock traded as high as $37.80 in morning trading, just shy of the $38-per-share price that Vista offered to take the company private. The deal would help the company bring its products to the market faster, Apptio co-founder and Chief Executive Officer Sunny Gupta told Reut
Apptio soars 50% on $1.94 billion deal with Vista Equity Partners to go private Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: scott mlyn
Keywords: news, cnbc, companies, software, equity, stock, company, private, soars, 50, billion, vista, deal, gupta, 194, vistas, adviser, partners, apptio


Apptio soars 50% on $1.94 billion deal with Vista Equity Partners to go private

Shares of software company Apptio soared more than 50 percent Monday after the company said it had agreed to be bought by private equity firm Vista Equity Partners for $1.94 billion in cash, two years after going public.

The stock traded as high as $37.80 in morning trading, just shy of the $38-per-share price that Vista offered to take the company private.

The deal would help the company bring its products to the market faster, Apptio co-founder and Chief Executive Officer Sunny Gupta told Reuters.

“In the private construct, we look at leveraging Vista’s playbook,” Gupta said. “They seem to be very committed to accelerating our product innovation cycle to customers.”

Apptio, whose products include cloud-based and hybrid business management software, was founded in 2007 and went public in September of 2016 at $16 per share.

Vista, whose private-equity portfolio comprises of mostly software companies, sold marketing software firm Marketo to Adobe Inc for $4.75 billion in September.

The Apptio deal includes a 30-day “go-shop” period, which allows Apptio board and advisers to consider alternative offers, the company said.

Apptio had multiple offers from strategic and private investors before it agreed to go with Vista’s, Gupta said. He will remain Apptio’s CEO post the deal. It will remain headquartered in Bellevue, Washington.

The company’s board has approved the deal, which is expected to close in the first quarter of 2019, it said.

Apptio posted a surprise adjusted quarterly profit in August, a month before the stock touched a life high of $41.23.

Qatalyst Partners served as Apptio’s financial adviser, while Wilson Sonsini Goodrich & Rosati was its legal adviser. Kirkland & Ellis LLP was the legal adviser to Vista.

The Wall Street Journal earlier reported on the deal.

—CNBC’s Sara Salinas contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: scott mlyn
Keywords: news, cnbc, companies, software, equity, stock, company, private, soars, 50, billion, vista, deal, gupta, 194, vistas, adviser, partners, apptio


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Square’s $25 million investment in Eventbrite has more than doubled in value

That’s because Square owns a small ownership stake in Eventbrite that more than doubled in value over the past year. Square disclosed in a public filing last week that the $25 million investment it made in Eventbrite last year has more than doubled in value to $61.9 million. The ownership stake adds another reason why some investors are so bullish on Square, whose stock has roughly doubled in price this year. Friar is credited for bring a critical part of Square’s business over the years, helpin


That’s because Square owns a small ownership stake in Eventbrite that more than doubled in value over the past year. Square disclosed in a public filing last week that the $25 million investment it made in Eventbrite last year has more than doubled in value to $61.9 million. The ownership stake adds another reason why some investors are so bullish on Square, whose stock has roughly doubled in price this year. Friar is credited for bring a critical part of Square’s business over the years, helpin
Square’s $25 million investment in Eventbrite has more than doubled in value Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: eugene kim, scott mlyn
Keywords: news, cnbc, companies, stake, ownership, square, squares, value, doubled, investment, 25, business, million, eventbrite


Square's $25 million investment in Eventbrite has more than doubled in value

Eventbrite’s first earnings report on Monday could draw the interest of one particular company: Square.

That’s because Square owns a small ownership stake in Eventbrite that more than doubled in value over the past year.

Square disclosed in a public filing last week that the $25 million investment it made in Eventbrite last year has more than doubled in value to $61.9 million. The huge gain helped Square turn its first quarterly profit of $20 million in the third quarter.

The ownership stake adds another reason why some investors are so bullish on Square, whose stock has roughly doubled in price this year. While Square has a healthy core payments business, the investment in Eventbrite shows how it’s diversifying its business in many different ways, including lending and food delivery.

The gains also highlight the business-savvy of Sarah Friar, Square’s former CFO, who recently stepped down to take on the CEO position at Nextdoor, a social-networking start-up focused on neighborhoods. Friar is credited for bring a critical part of Square’s business over the years, helping the company go public.

The value of Square’s ownership stake could change substantially following Eventbrite’s earnings on Monday. Square noted this in its filing last week, saying the investment could fluctuate significantly “due to volatility of the investee stock price.”

Square’s spokesperson wasn’t immediately available for comment.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: eugene kim, scott mlyn
Keywords: news, cnbc, companies, stake, ownership, square, squares, value, doubled, investment, 25, business, million, eventbrite


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