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kingjayk
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The modern day Bud Fox...Working in BB Wealth Management
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  • The Long Case For NCR Corporation

    Elevator Pitch

    On October 21st, 2014 Richard T. McGuire III of Marcato Capital Management filed a Schedule 13D that disclosure he and his firm had acquired roughly ~12.9% of NCR on October 1st, 2014 at a price of $33.41, making them they largest shareholders in the company. This happened a day after NCR revised their 3Q outlook down sending the stock down ~21% for a annual low of $22.83.

    Thesis & Catalyst For NCR Corporation (NYSE:NCR)

    Marcato capital management lp purchased shares of NCR Corp based on belief that the shares, when purchased, were undervalued. On October 14, Marcato capital management lp proposed to NCR Corp that Mcguire be nominated to serve as a director on co's board of directors. On October 21 Marcato communicated to NCR Corp to immediately take steps to effectuate Mcguire's request.

    Valuation

    NCR has recovered roughly ~17% trading around $28 as of 10/28/2014. Considering the largest share hold has a cost basis of $33.41, I forecast another 19% upside before McGuire breaks even.

    Variant View

    What could go wrong with your thesis? NCR could reject McGuire board appointment which could incline him to take a lost on his position sending the stock back down.

    Oct 28 2:49 PM | Link | Comment!
  • Top Shareholders Have No Current Plans To Sell Any Shares Of A10 Networks Upon Expiration Of The Lockup Period

    Form 8-K: Lee Chen, our Chief Executive Officer, has informed us that he has no current plans to sell any of his shares of A10 Networks, Inc. (NYSE:ATEN) common stock upon expiration of the lockup period on September 18, 2014 or immediately after our Q3 financial report. If Mr. Chen were to decide to sell, he is encouraged by our policies to do so pursuant to a trading plan intended to comply with the requirements of Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (a "10b5-1 Plan"). We require any 10b5-1 Plan to be entered into during an open trading window and to have a "cooling-off" period, so the earliest Mr. Chen could sell under such a plan would be 90 days after our next open window in early November 2014.

    In addition, our largest institutional stockholder group, the Summit Partners investment funds, which are affiliated with a member of our board of directors, have informed us they have no present intention to sell or distribute A10 Networks stock to their limited partners before or upon the expiration of our lockup or immediately after the Q3 financial report.

    These two shareholders represent in excess of 30% of our outstanding shares.

    As of the date of this report, our executive officers, other than our Chief Executive Officer have either entered into 10b5-1 Plans or indicated they do not intend to sell any of their shares of A10 Networks common stock until they put a 10b5-1 Plan in place in accordance with our policies. The current 10b5-1 Plans of our executive officers are all effective for at least one year and have predetermined formulas for the timing of sales over the duration of the underlying plans, number of shares and price at which an executive officer may sell our shares. Sale transactions by our executive officers will be disclosed publicly through filings with the SEC as required. We do not undertake any obligation to report any 10b5-1 Plans that may be adopted by any of our board members or executive officers in the future, or to report any modifications or terminations of any publicly announced plan, except to the extent required by law.

    Sep 12 9:29 AM | Link | 2 Comments
  • Zynga Takes First Real-Money Poker App To Facebook

    Social gaming company Zynga has launched its Zynga Plus Poker product on social networking website Facebook, according to the Pokernews.com website.

    The product, which is currently only available to Facebook users in the UK, utilizes the network and software of Partypoker, the internet poker brand of online gaming company bwin.party.

    Zynga announced plans to launch the application on Facebook when it unveiled web and download versions of its ZyngaPlusPoker and ZyngaPlusCasino brands for UK players back in April 2013, as reported by iGaming Business.

    Zynga, which struck its original deal with Facebook to launch real-money games in 2012, had initially targeted a launch date of late 2013 for the application on the social network.

    Disclosure: I am long ZNGA, .

    Tags: ZNGA
    Jan 16 10:55 AM | Link | Comment!
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