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We are excited to release two new features related to the strategies of Merger Arbitrage and Stock Buybacks. These features went live last Friday and it looks like some of you have already discovered them. Both these features were developed based on feedback from premium subscribers like you, so please keep your requests coming and we will try to accommodate them as best as possible.
Stock Buyback Announcements
We have built a new feature that lets you review a list of stock buyback announcements including both new announcements as well as announcements where the company is adding to an existing buyback plan. This feature differs from the stock buybacks list, which shows you the companies with the largest completed buybacks (the cannibals) based on percentage of shares outstanding. We use quarterly and annual reports filed with the SEC to compute the list of cannibals. The buyback announcements are based on what is reported by the companies and not all buyback announcements translate into actual buybacks.
Deal Alerts Based on Specified Criteria
Premium subscribers now have the ability to set deal alerts and get notified twice a day, once during market hours and once more after the market closes, if deals meet specific criteria. As you can see from the screenshot below, this is different from the daily spread change alerts some of you receive everyday for deals you are tracking. With this new deal alerts feature, you can for example, specify that you want to be alerted about all cash deals that have potential annualized returns greater than 10%. You can also specify that you don’t want the same deals to show up in subsequent alerts for a period of time.