Provider of technology distribution services Synnex Corp. (SNX) announced it will separate its Concentrix segment into a newly listed company, stating the customer experience provider is strong enough now to stand independently and boost its scale and competitiveness. Meanwhile, SNX (Parent post-Spin) will pursue organic growth (with new products and services planned) and strategic acquisitions to focus on the core business.
16 January 2020
Value investing is dead and The Edge Group is predicting the Catalyst Space as the new trend for 2020. The Edge Group LLC, the global leader in Catalyst, Special Situations and Spinoff research, has acquired substantially all of the assets of WhiteSand Research LLC, offering money managers even greater access to unique market intelligence in the niche Catalyst, Special Situations and Spinoff space.
14 January 2020
This exclusive conference hosted the best of the investing world on Thursday, November 21, with The Edge bringing several premier money managers to present their current ideas in the Special Situations space and updated US performance data from The Edge’s own research team. $5,000 was raised through the event and given to The Alzheimer’s Association, all from attendees’ discretionary donations. In total, The Edge's three conferences have raised nearly $16,000 for the Alzheimer's Association.
03 January 2020
Cerence, Inc. (CRNC) posted strong results in first earnings following the separation from Parent company Nuance Communications, Inc. (NUAN), beating the consensus and its own guidance. The number of vehicles shipped that incorporated CRNC technology increased in FY19 over the previous year, and the company's strength looks to continue moving forward with all-time high revenues and backlogs. The stock has returned over 32% from The Edge's adjusted buy price, prompting an exit.
30 December 2019
After fending off a shareholder push to remove three board members and separate back in April 2019, Verint Systems, Inc. (VRNT) announced a break-up, a $300m share buyback program and also revealed that private equity firm Apax Partners will be investing up to $200m (both pre and post Spin). VRNT will take a full year before splitting up but further details will be out by April 2020.
12 December 2019
In its first earnings release since the completion of its Reverse Morris Trust with DISH Network Corp. (DISH), EchoStar Corp. (SATS) has demonstrated the benefits of separating the BSS business and focusing on its more lean Hughes operations. Additional joint ventures in Brazil and Israel have been bolstered with the fresh acquisition of Helios Wire Corp., a satellite-enabled IoT connectivity company with huge potential for SATS.
13 November 2019
A complicated international ownership situation will be simplified when SunPower Corp. (SPWR) Spins off its solar power manufacturing business, to be called Maxeon Solar and expected to be separated in Q2 2020. Currently majority-owned by French utilities company Total SA (FP FP), SPWR is a US-based company with manufacturing (Maxeon) in Malaysia and the Philippines and assembly plants in Mexico. The Spinoff will slim the company down to its domestic distribution operations.
12 November 2019
The Edge is holding its third annual conference at The Penn Club in NYC on Thursday, November 21, 2019. This non-profit conference has limited space and is always full. The conference is free to attend with a donation, 100% of which goes to The Alzheimer's Association. So far we have raised nearly $11,000 from previous conferences. The Edge will bring together experienced investment professionals, each bringing their views on how to make the most of this undercovered area.
30 October 2019
Our analysis on Nuance Communications, Inc.'s (NUAN) Spinoff of Cerence, Inc. (CRNC) indicated selling pressure dynamics on the newly listed company, given its debt load and wide distribution ratio (1:8). As anticipated, CRNC saw as much as -19% from its listing price, finally settling on -14% at the close. Read on for further clarity on these dynamics. Meanwhile, Parent NUAN is now a more nimble healthcare and enterprise AI software company with benefits to come from the ongoing restructuring.
03 October 2019
He’s hated by the majority of New York sports fans and for good reason, but James Dolan knows exactly what he has in store for loyal followers of the Knicks and the Rangers. Most die-hards will do anything for their favorite teams, and that is exactly what Trump-supporting impresario Dolan is banking on with his plans to offer fans the chance to own them. Read more on The Edge's thoughts on the upcoming MSG break-up...
19 September 2019