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News Breaks
January 8, 2013
12:08 EDTAPOL, AKAMStocks with call strike movement; APOL AKAM
Apollo Group (APOL) May 26 call volatility increased 2% to 48, Akamai (AKAM) February 45 call option implied volatility increased 4% to 46 according to iVolatility.
News For AKAM;APOL From The Last 14 Days
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May 6, 2015
11:56 EDTAPOLZulily plummets to 52-week low after cutting FY15 revenue, EBITDA outlook
Shares of zulily (ZU) are sinking after the e-commerce company cut its fiscal year 2015 revenue and adjusted EBITDA guidance. The company’s second quarter revenue outlook also significantly trailed analysts’ consensus estimates. WHAT'S NEW: Zulily yesterday reported first quarter adjusted earnings per share of 1c and revenue of $306.6M, compared to analysts’ consensus estimates of (3c) and $313.13M, respectively. Gross margin for the quarter increased year over year to 30.1% and adjusted EBITDA increased 66% year over year to $4.4M. The company reported active customers in Q1 of 5M, up 35% year over year. Total orders placed increased to 6.3M for Q1, an increase of 15% year over year, while the average order value was $56.26, an increase of 2% year over year. For the 12 months ended March 29, 86% of orders were placed by customers who had previously purchased from zulily, the company said. Additionally, zulily noted that in Q1, approximately 55% of orders were placed from a mobile device, up from approximately 50% in Q4. WHAT’S NOTABLE: Zulily forecast Q2 revenue of $285M-$300M, well below analysts' consensus estimates of $358.57M. The company also sees Q2 adjusted EBITDA $8M-$12M. The company lowered its FY15 revenue outlook to $1.3B-$1.4B from $1.5B-$1.65B, also significantly below analysts' estimates of $1.56B, and cut its FY15 adjusted EBITDA view to $55M-$70M from $55M-$80M. Capital expenditures, net of tenant improvement allowances, are expected to be between $35M-$40M and will be primarily for fulfillment centers to support growth and drive productivity, the company said. In other notable news, zulily appointed Brian Swartz as senior vice president and Chief Financial Officer, effective June 1. Swartz has served for the last six years as SVP and CFO of Apollo Education (APOL). ANALYST REACTION: Analyst commentary was overwhelmingly negative this morning. Oppenheimer downgraded zulily to Perform from Outperform and thinks there is too much risk to the company's near-term guidance, given the continued downward revisions to its forecasts. Another firm, Stifel, downgraded zulily to Hold from Buy. The firm thinks the company is having more difficulty than it expected with transitioning to a more sustained long-term e-commerce business model. Janney Capital said the firm has "been wrong" about zulily and lowered its fair value estimate on the shares to $13 from $22 after the company's guidance missed expectations. However, the firm maintains its Buy rating on the stock as it continues to see value in the franchise. The firm believes zulily's lowered guidance appears conservative in the second half considering its "significantly easing" order comps. PRICE ACTION: In late morning trading, zulily fell $2.12 or nearly 18% to $9.70 on approximately four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $9.09. Including today's pullback, the shares have lost approximately 78% over the past 12 months. OTHERS TO WATCH: Online retailers that compete in the space include (OSTK) and (AMZN).
May 5, 2015
16:42 EDTAPOLzulily names Brian Swartz as CFO, effective June 1
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06:14 EDTAKAMAkamai management to meet with Craig Hallum
Meetings to be held in Chicago on May 6, in Minneapolis on May 7 and in Milwaukee on May 8 hosted by Craig Hallum.
May 4, 2015
08:18 EDTAKAMAkamai management to meet with Deutsche Bank
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May 3, 2015
13:58 EDTAKAMAkamai shares could see 10% upside this year, Barron's says
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April 29, 2015
10:00 EDTAKAMOn The Fly: Analyst Upgrade Summary
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09:26 EDTAKAMOn The Fly: Pre-market Movers
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08:20 EDTAKAMAkamai weakness a buying opportunity, says Baird
Baird said they would buyers on weakness of Akamai and that the firm's long-term thesis remains unchanged following mixed Q1 results and guidance. The firm cited foreign exchange headwinds, noting that core traffic remained very much intact. Baird reiterated its Outperform rating and raised its price target to $77 from $74 on Akamai shares.
06:47 EDTAKAMAkamai upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Akamai to Buy saying the near-term pullback in shares following the company's Q1 results will serve as an attractive entry point. Deutsche is positive on Akamai's momentum in Cloud Security and Media Delivery. It raised its price target for shares to $79 from $73.
05:37 EDTAKAMARRIS announces partnership with Akamai
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April 28, 2015
19:10 EDTAKAMOn The Fly: After Hours Movers
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17:46 EDTAKAMAkamai down over 7% after reporting Q1 results, guidance
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17:23 EDTAKAMAkamai sees Q2 EPS 55c-59c, consensus 63c
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17:02 EDTAPOLApollo Education CFO departs, Joseph D’Amico named interim CFO
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16:02 EDTAKAMAkamai reports Q1 EPS 61c, consensus 61c
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15:18 EDTAKAMEarnings Watch: Akamai reports results as streaming video market gains momentum
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15:06 EDTAKAMNotable companies reporting after market close
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April 27, 2015
07:27 EDTAKAMAkamai May weekly volatility elevated into Q1 and outlook
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07:13 EDTAKAMUBM Tech to hold a conference
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April 22, 2015
08:00 EDTAKAMInfrastructure companies to benefit from OTT growth, says Oppenheimer
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