Focus: Sotheby's Q4
This Friday, 22nd of January, Sotheby’s revealed its estimate earnings for the last quarter of 2015. Along with disappointing numbers, the auction house also announced an increase in the already existing buyback program, leaving investors with a positive overall impression despite the loss. The exact numbers will be released in the last week of February. The company has been subject to many changes since activist hedge fund manager Dan Loeb claimed control of the board in early 2014. The latest developments included the resignation of CFO Patrick McClymont and the acquisition of Art Agency Partners, presided by Amy Cappellazzo and Allan Schwartzman, in an effort to improve the private sales department.
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