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   Strategies & Market TrendsSpeculating in Takeover Targets

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To: E_K_S who wrote (6008)11/2/2020 1:15:29 PM
From: richardred
   of 6379
I don't own SFM SPROUTS FARMERS MARKET any more, but it seem overly punished for it latest reported earnings IMO. I think the analyst have read to much into slowing of growth moving forward. Once this pandemic is on it's way out. I still think SFM could be a potential low hanging fruit. (PUN INTENDED)

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To: richardred who wrote (6010)11/2/2020 2:07:32 PM
From: robert b furman
   of 6379
Hi Rick,

Kirk Lindstrom loves buying food there.

Not sure he has a position.


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To: richardred who wrote (6010)11/2/2020 2:25:48 PM
From: E_K_S
   of 6379
Lots of people who shop there like it (I still find expensive) but less than Whole Foods. Produce is quite good and fresh but focus on sale stuff then some good deals. I believe UNFI stocks some of the items there.

FWIW a small add to UNFI at $14.45/share today...foward PE at 5

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To: richardred who wrote (6010)11/3/2020 3:31:27 AM
From: Labrador
   of 6379
I agree with you Richard. Just bought some in the high $18s. Will give it a chance. They're opening up a fair amount of new locations.

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To: richardred who wrote (5993)11/3/2020 11:41:59 AM
From: richardred
   of 6379
The story continues with AGS. There still trying to put the company in play. IMO- If they are serious. They would line up the financing to follow through, and continue with a formal bid to shareholders.

Wax Asset Management and AGS Send Letter to Computer Task Group, Inc. Regarding Value Enhancement Potential
BY PR Newswire
— 10:58 AM ET 11/03/2020

GREENWICH, Conn., Nov. 3, 2020 /PRNewswire/ -- Wax Asset Management ("WAM") and Assurance
Attn: Daniel Sullivan, Chairman Dear Members of the Board of Directors:

As shareholders of 6.4% of CTG's common stock, we are writing again as a follow up to our October 19, 2020 letter to the Board. We have not received a response, nor have we seen any insider share purchases or a change in the Board's excessive pay practices. Instead, the Company boasts of its performance in its third quarter release, ignoring CTG's lagging metrics versus its peers. CTG is wasting a rare opportunity for significant value creation.

CTG needs to accelerate its transformation to close the gap with its peer group. For years, the Company has attributed its weak staffing revenue performance to a transition away from low margin work and offers no evidence that its managed services provider strategy is working. Additionally, solutions' organic revenue growth appears anemic versus more digitally-focused competitors, since its Q3 increase of $2.2 million or 6.5%, is likely attributable to currency translation and the acquisition of Stardust in early 2020.

CTG's weak margins offer substantial potential opportunity. We were shocked that CTG's recently-disclosed solutions margins lag industry averages by such a substantial amount, particularly after the Company spent $32 million on "strategic" acquisitions in the 2018-2020 period.

Since 2015, the Company has told shareholders it can improve overall margins through a turnaround in its US businesses. Yet, after five years and three CEOs, Company margins significantly lag its peers. The Company points to its ten-year European transformation as evidence that its US turnaround plan will work. However, this view ignores the fact that the European transformation required $32 million of acquisitions, only increasing operating margins a paltry 1.6% and that the US conglomerate of businesses is radically different than the European business.

A reconstituted Board is necessary to direct the creation of a value enhancement plan to add a minimum of 3% to EBITDA margins (>$10 million) within the next two years. The underperforming conglomerate of US staffing and solutions businesses must be strategically addressed. Digital transformation offerings and operating processes require a re-examination to reduce cost structure and improve client delivery. Capital allocation strategies should be prepared so that shareholder returns can be further amplified by deploying capital on selective, high ROIC acquisitions and repurchases when shares trade below their intrinsic value.

The Company is at a critical point as it is facing a rapidly evolving marketplace as well as shareholder discontent. We look forward to seeing immediate action by the Board regarding these matters.


/s/ Evan Wax

/s/ James Lindstrom

Evan Wax

James Lindstrom

Wax Asset Management

Assurance Global Services LLC


About AGS and WAM

AGS is a value-oriented, operations-focused private and public investment firm.

WAM is an investment advisory firm that engages in the acquisition and disposition of investments.

View original content to download multimedia:

SOURCE Assurance Global Services LLC

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To: richardred who wrote (6010)11/3/2020 1:45:05 PM
From: E_K_S
   of 6379
SFM - Sprouts Farmers Market +6.13% w/ MKM Partner upgrade PT to $37 from $39. Maintains Buy Rating

Had not looked at this one in a long time last$19.725/share +6.11%

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To: richardred who wrote (5785)11/6/2020 1:23:08 PM
From: richardred
   of 6379
CTG- Speculation

Older snip
>BUFFALO, N.Y., Jan. 14, 2020 (GLOBE NEWSWIRE) -- CTG (NASDAQ: CTG), a leading provider of information technology (IT) solutions and services in North America and Western Europe, today confirmed that it has received a new unsolicited proposal from Assurance Global Services LLC (AGS) to acquire the Company for $7.00 per share in cash.

CTG keeps delivering on earnings, but very little in stock price appreciation for it. IMO AGS needs to put up the financing to carry through with their previous proposal or shut up. Something fishy seems to be going through with the bigger block trades of late. It will be interesting to see if a 13d gets filed after that 70,000 shares block & 20,000 share block.

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To: richardred who wrote (5807)11/7/2020 6:25:46 PM
From: richardred
1 Recommendation   of 6379
Volkswagen truck unit Traton finalises $3.7 billion Navistar acquisition deal
Reuters - 3:18 PM ET 11/7/2020

(Reuters) - Volkswagen AG's truck unit Traton SE has agreed to pay about $3.7 billion for the outstanding shares of U.S. truck maker Navistar International Corp ( NAV ) in a deal announced on Saturday that would extend its reach in North America.

Finalisation of the deal comes after Traton said on Oct. 16 it had agreed to raise its bid for Navistar ( NAV ) to $44.50 per share, up from $43, as it closed in on an acquisition that would create a global manufacturer.

The agreement which brings Navistar ( NAV ) together with the MAN, Scania and Volkswagen trucks brands is in tune with trends in the truck industry which has been seeking ways to share the costs of developing low emissions technology.

Message #5807 from richardred at 1/31/2020 12:58:56 PM

RE- Recent truck conversation- Bob- Another truck co. bites the dust.

Volkswagen truck unit Traton offers $2.9 billion to take over Navistar.

(Reuters) - Volkswagen AG's Traton commercial truck unit said on Thursday it had offered $35 a share, or $2.9 billion, for the shares of U.S. truck maker Navistar International that it does not already own, and investors bet the bid will go higher.

Navistar shares shot up by 50% to just over $36 a share in after-hours trading following Traton's proposal, suggesting investors expect a potential deal could be richer than Traton's opening offer. Traton said its offer was subject to Navistar and Traton reaching a merger agreement.

Truck makers across the globe are struggling to stem the costs of developing next generation powertrains during an industry downturn, a step which is forcing the truck makers to seek new alliances to share costs. Navistar and VW in 2017 said they would collaborate on electric truck development.

Traton shares were up 0.4% early on Friday, with Volkswagen trading 0.7% lower and underpeforming Germany's blue-chip DAX index, which was up 0.2% at 0806 GMT.

Volkswagen has made its interest in buying the remainder of Navistar clear since acquiring an initial 16.6% stake in 2016, which has since grown to nearly 16.8%. Traton and Navistar have been collaborating on purchasing and certain technology developments, aiming to cut annual costs by $200 million a year.

Traton will have to win over Navistar's largest shareholder, financier Carl Icahn, whose fund controls 16.9% of Navistar's shares. Icahn and two other activist funds, Mark Rachesky's MHR Fund Management and Gabelli Funds, together own 40% of Navistar's shares, according to Refinitiv data.

Rachesky and another MHR executive, Raymond Miller, sit on Navistar's board, as does a representative of Icahn's interests. Traton Chief Executive Andreas Renschler and the German truck maker's chief financial officer, Christian Schulz, also have seats on Navistar's board.

Navistar, based near Chicago, called Traton's offer unsolicited in a statement and said its board would "carefully review and evaluate the proposal in the context of Navistar's strategic plan for the company."

The company has been restructuring its operations under Chairman and Chief Executive Troy Clarke since 2013, and last fall rolled out a new five-year plan called "Navistar 4.0" that aims to increase pre-tax profit margins to 12% by the end of 2024 from just under 8% for the fiscal year ended Oct. 31.

Traton includes the European commercial truck brands MAN, Scania and Volkswagen trucks, but it has lacked a strong North American footprint to compete with Daimler AG's Freightliner operation, Paccar Inc, which owns the Peterbilt and Kenworth brands, or Volvo Group's Mack truck business.

Volkswagen floated an 11.5% stake in Traton last June. The subsidiary's shares have trended down from the 27 euro offering price and are trading at 23.23 euros.

The sector is also highly cyclical. Heavy-duty class 8 truck orders were down most of last year in North America compared to a year earlier, according to data from ACT Research.

Before Traton's offer, Navistar shares had been on a downhill run, off nearly 17% since the start of 2020. The U.S. truck maker had told investors it expected overall industry demand for trucks and school buses in its core markets to fall by 20% this year.

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To: richardred who wrote (6017)11/8/2020 10:47:19 AM
From: robert b furman
   of 6379
Hi Kirk,

I know Troy Clarke. He and his twin brother were 3 years below me at GMI (Kettering).

Troy was a nice guy and smart when he went on to obtain his MBA.

He climbed the ladder quickly and had a high potential career in GM Before he left - no doubt part of the purge that GM experienced during their BK. Those of Troy's age were told that GM needed leaders with a "longer runway", and were unceremoniously offered early retirement.

Troy has done well and now is retiring with the merger!

A techer (what we affectionately call each other) who "Done Good"


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To: richardred who wrote (6016)11/13/2020 1:50:56 PM
From: richardred
   of 6379
RE-CTG speculation It's about time we had some insider buying. Per the Earnings call the IBM contract results should be known this month.

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