On the last trading day of this busy earnings week, traders are eagerly dissecting the latest news and earnings reports coming out of TiVo Inc. (NASDAQ:TIVO), Tyco International plc (Ireland) Ordinary Share (NYSE:TYC), VF Corp (NYSE:VFC), Moody’s Corporation (NYSE:MCO), and Baidu Inc (ADR) (NASDAQ:BIDU). Given that market-impacting news and earnings reports can sometimes be a good indicator of future stock performance, let’s take a closer look at the events surrounding these five companies and use SEC filings to see how the world’s greatest investors are positioned in each of these stocks.
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TiVo Shares Spike on Merger
Rovi Corporation (NASDAQ:ROVI) is officially buying TiVo Inc. (NASDAQ:TIVO) for $10.70 per share in cash and stock, for a total consideration of around $1.1 billion. Rovi will pay $2.75 in cash per share, subject to adjustment based on a collar mechanism, while the remainder of the offer will be paid in shares of common stock of the new holding company. The combined company expects to realize a minimum of $100 million in annual synergies, with almost two-thirds of the synergies expected to be realized in the first year after the deal closes. TiVo shares have rallied by 6% on the news to around $10 per share, while Rovi shares are up by 4.44%. Joel Greenblatt‘s Gotham Asset Management was one of the elite hedge fund shareholders of TiVo Inc. (NASDAQ:TIVO) at the end of 2015, while activist Glenn W. Welling’s Engaged Capital owned a large stake in Rovi Corporation, its top stock pick, on December 31.
Tyco Reports Mixed Quarter
This morning, Tyco International plc (Ireland) Ordinary Share (NYSE:TYC) reported EPS of $0.45 on sales of $2.33 billion for its second quarter of fiscal year 2016, meeting earnings estimates but falling short of sales expectations by $10 million. Sales declined by 4.1% year-over-year as organic revenue inched lower by 1%. Adjusted operating margin rose by 40 basis points to 10.7%. Management expects adjusted EPS of $0.52-to-$0.54 for the fiscal third quarter and $2.05-to-$2.10 for the full 2016 fiscal year. Jim Simons‘ Renaissance Technologies owned more than 2.1 million shares of Tyco International plc (Ireland) Ordinary Share (NYSE:TYC) at the end of December.
On the next page we examine the news that has shares of VF Corp, Moody’s Corporation, and Baidu Inc trending this morning.