Partnerships, Acquisitions, Lease Extensions, Financial Results and Campaign Launches - Analyst Notes on PREIT, FXCM, Mack-Cali Realty, Piedmont and CIBC
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NEW YORK, May 13, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Pennsylvania Real Estate Investment Trust (NYSE: PEI), FXCM Inc. (NYSE: FXCM), Mack-Cali Realty Corp. (NYSE: CLI), Piedmont Office Realty Trust Inc. (NYSE: PDM) and Canadian Imperial Bank of Commerce (NYSE: CM). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2359-100free.
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Pennsylvania Real Estate Investment Trust Analyst Notes
On April 30, 2014, Pennsylvania Real Estate Investment Trust (PREIT) announced that the Company has entered into a three-month partnership with automotive tech company GoMoto, which provides a quick and easy way to gain first-hand insight about vehicles and test drive them in one comfortable, inviting setting. According to the PREIT, GoMoto has selected Cherry Hill Mall as the location of their first-ever, full-scale showroom and test drive experience beginning May 1, 2014, to July 31, 2014. Commenting on the announcement, PREIT CEO, Joseph F. Coradino, stated, "We are excited to announce this event that offers our mall customers yet another innovative experience at the mall that will not only be new but is also a convenience. Integrating with pioneering partners like GoMoto aligns us with evolving consumer habits." The full analyst notes on PREIT are available to download free of charge at:
http://www.analystsreview.com/2359-PEI-13May2014.pdf
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FXCM Inc. Analyst Notes
On May 7, 2014, FXCM Inc. (FXCM) announced that Forex Capital Markets LLC (FXCM U.S.), the Company's U.S. subsidiary, has signed a definitive agreement with FXDirectDealer LLC (FXDD) to acquire FXDD's U.S. retail forex accounts (FXDD U.S. Accounts). According to the Company, FXCM will be acquiring approximately $27 million in client equity and seven thousand active FXDD U.S. accounts. The Company stated that the FXDD U.S. Accounts will be transferred to FXCM U.S. on Friday May 16, 2014 after the close of trading. FXCM added that FXDD clients using the MetaTrader 4 ("MT4") platform will be transitioned to the FXCM MT4 platform and should see minimal changes in platform functionality. FXCM CEO, Drew Niv, stated, "FXCM is dedicated to providing clients with award winning customer service, superior technology, and transparent No Dealing Desk forex execution, and we welcome the former FXDD clients to the FXCM network." The full analyst notes on FXCM are available to download free of charge at:
http://www.analystsreview.com/2359-FXCM-13May2014.pdf
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Mack-Cali Realty Corp. Analyst Notes
On April 24, 2014, Mack-Cali Realty Corp. (Mack-Cali Realty) reported its Q1 2014 financial results with total revenues down 0.8% YoY to $169.6 million. Net loss was $15.3 million or $0.17 per diluted share, compared to net income of $11.6 million or $0.13 per diluted share in Q1 2013. Commenting on the results, Mack-Cali Realty President and CEO, Mitchell E. Hersh, stated, "We have successfully capitalized on opportunities to advance our diversification into the multi-family sector, positioning Mack-Cali for renewed growth and success. Our recent multi-family acquisition in Andover, Massachusetts, is a perfect example of such an opportunity. As we move forward, we remain focused on building an even stronger company to generate long-term value for shareholders." For full year 2014, the Company expects net loss per diluted share to be in the range of $0.18 to $0.28. The full analyst notes on Mack-Cali Realty are available to download free of charge at:
http://www.analystsreview.com/2359-CLI-13May2014.pdf
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Piedmont Office Realty Trust Inc. Analyst Notes
On May 1, 2014, Piedmont Office Realty Trust Inc. (Piedmont) announced that it has completed a lease extension with the National Park Service (NPS). According to the Company, the lease is for approximately 220,000 sq. ft. of space that it currently occupies at 1201 Eye Street NW in Washington, D.C. Piedmont stated that the extended lease runs through July 2017. "We are very pleased to have retained a quality tenant such as the National Park Service, particularly during a period of time best characterized by a decreasing demand for large blocks of space in the DC office market. Although the NPS will reduce its footprint by approximately 46,000 square feet in 2015, we are extremely satisfied with this transaction as it requires no capital outlay, yet allows us to extend our relationship with this reputable government agency," said, Piedmont Senior Vice President, Ken Mulrane. The full analyst notes on Piedmont are available to download free of charge at:
http://www.analystsreview.com/2359-PDM-13May2014.pdf
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Canadian Imperial Bank of Commerce Analyst Notes
On May 1, 2014, Canadian Imperial Bank of Commerce (CIBC) announced that it is launching a campaign which is built around the theme 'there's a fan inside us all'. According to the Company, as the Official Canadian Bank in Association with Visa of the 2014 FIFA World Cup™, CIBC will host a series of soccer-themed events across Canada to get fans revved up about their favorite soccer nations. CIBC informed that the new contest will give Canadians the chance to win one million Aventura travel points - enough for a family of four to vacation anywhere in the world the game is played. The Company added that the 2014 FIFA World Cup Brazil™ will take place from June 12, 2014 through July 13, 2014 and will involve 32 national teams. CIBC Executive Vice President, Marketing, Communications and Public Affairs, Stephen Forbes, remarked, "The World Cup brings out the pride and passion of billions of fans worldwide, and here in Canada, our rich multicultural heritage will ensure every competing country has a local cheering section." The full analyst notes on CIBC are available to download free of charge at:
http://www.analystsreview.com/2359-CM-13May2014.pdf
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