HERMAN MILLER (MLHR)
EARNINGS RELEASE - SEPTEMBER 16 (AMC)
EARNINGS EXPECTATIONS:
THIS QTR: EPS: .26/share REV: 524.8/M
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NEXT QTR: EPS: .49/share REV: 568.5/M
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FULL YR: EPS: 1.79/share REV: 2,250/M
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LAST QTR: EPS: -.10/share ACTUAL: .11/share (BEAT)
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BEAT/MISS RECORD: 80% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) -10.3, 23.68, 18.29
EXPECTED JUMP MOVE THIS QUARTER: 10+%
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*** With market volatility at extremes there is greater risk in trading these events which may not react as they would under normal market conditions. Please take extra caution before trading.
Links To Latest News and Headlines
Office furniture company Herman Miller (NASDAQ: MLHR) recently announced that it would acquire rival Knoll (NYSE: KNL) in a cash-and-stock transaction. While this is definitely a significant move in the office furniture industry, it could have some implications for office real estate as well. Herman Miller, by far the larger of the two companies involved, is acquiring rival Knoll in a cash-and-stock deal.
NEW YORK, April 19, 2021 (GLOBE NEWSWIRE) — Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies: Herman Miller, Inc. (NASDAQ: MLHR) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its merger with Knoll, Inc. Under the terms of the merger, Knoll shareholders are expected to receive a combination of cash and Herman Miller stock. Upon completion of the transaction, Herman Miller shareholders will own approximately 78% of the combined company. If you are a Herman Miller shareholder, click here to learn more about your rights and options. Webster Financial Corporation (NYSE: WBS) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its merger with Sterling Bancorp. Sterling Bancorp shareholders are expected to receive Webster Financial stock in connection with the merger. Following the closing of the transaction, Webster Financial shareholders will own approximately 50.4% of the combined company. If you are a Webster Financial shareholder, click here to learn more about your rights and options. Bank of Marin Bancorp (NASDAQ: BMRC) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its merger with American River Bankshares. If you are a Bank of Marin shareholder, click here to learn more about your rights and options. Marlin Business Services Corp. (NASDAQ: MRLN) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to HPS Investment Partners LLC for $23.50 per share. If you are a Marlin Business shareholder, click here to learn more about your rights and options. Halper Sadeh LLP may seek increased consideration, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com. Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information:Halper Sadeh LLPDaniel Sadeh, Esq.Zachary Halper, Esq.(212) 763-0060sadeh@halpersadeh.comzhalper@halpersadeh.com https://www.halpersadeh.com
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Knoll, Inc. (“Knoll” or the “Company”) (NYSE: KNL) in connection with the proposed cash and stock acquisition of the Company by Herman Miller, Inc. (“MLHR”) (NASDAQ: MLHR). Under the terms of the merger agreement, Knoll shareholders will receive $11.00 in cash and 0.32 shares of MLHR common stock for each Knoll share that they own, representing implied per-share merger consideration of approximately $25.18 based upon MLHR’s April 16, 2021 closing price of $44.30. Upon consummation of the transaction, current MLHR shareholders will own approximately 78% of the combined company and Knoll shareholders will own approximately 22%. The transaction is valued at approximately $1.8 billion.
Rowley Law PLLC is investigating potential securities law violations by Knoll Inc. (NYSE: KNL) and its board of directors concerning the proposed acquisition of the company by Herman Miller, Inc. (NASDAQ: MLHR). Stockholders will receive $11.00 and 0.32 shares of Herman Miller common stock for each share of Knoll stock that they hold. The transaction is valued at approximately $1.8 billion and is expected to close by the end of the third quarter of 2021.
Herman Miller Inc. and Knoll Inc. said Monday they have agreed to combine in a cash-and-stock deal valued at $1.8 billion that will create a leader in modern design for the office and home just as the pandemic has companies reimagining office life and workers investing in work-from-home stations.
StockJumpers analysis and trade plans are finalized and uploaded generally one house before market cloase (3PM EST) for most events unless noticed.
ANALYSIS:
Price is up 7% from open with investors feeling this will be a positive release. We will be posting analysis at 1pm EST today on this trade.
We are biased long on this event, though concerned the move may be priced in.
UPDATE: We remain long and will enter prior to close.
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OUR TRADE PLAN:
ENTRY: BUY
STOP LOSS: N/A
INITIAL PROFIT TARGET: 8%
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TRADE ASSIST: N/A
POST RELEASE ACTION:
There is a significant amount of data behind the scenes involved in the analysis and trade plan tab above, that does not get put into the report. Too much information for traders often confuses things – so this is stripped down to only what is needed to make the best possible decision(s) on trading the trajectory.
Members who are too busy to manual trade can use Trade Assist. For more information visit here
Avg Daily Volume: 679,937 Market Cap: 1.42B
Sector: Consumer Goods Short Interest: 4.38
Ticker delayed 20 minutes
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by Team Stockjumpers