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News Breaks
July 28, 2013
20:30 EDTNATH, ANGIAngie's List, Nathan's Famous look expensive, Barron's says
Angie's List (ANGI) and Nathan's Famous (NATH) prices are driven by factors other than EPS and trends suggest that investors aren't getting their money's worth, Barron's contends in its The Trader column. Reference Link
News For ANGI;NATH From The Last 14 Days
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November 25, 2014
13:16 EDTANGIAngie's List retreats after Amazon reportedly launches local services site
Shares of Angie's List (ANGI) are sinking after The Wall Street Journal reported this morning that Amazon.com (AMZN) had launched a website that will connect consumers to local service providers. Angie's List connects users to local contractors and publishes consumers' reviews of contractors. WHAT'S NEW: Amazon.com launched its website featuring information about local contractors in New York, Los Angeles, and Seattle, The Journal reported, citing an unnamed source who was briefed on the company's plan. Called Amazon Local Services, the website is part of the e-commerce giant's attempt to compete with traditional stores, The Journal said. WHAT'S NOTABLE: Reuters reported last June that Amazon planned to launch a local services website. Last month, research firm Wunderlich said that Angie's List could be a logical takeover target for Amazon or eBay (EBAY). Wunderlich issued its note after The Financial Times reported that Angie's List had hired bankers to help it explore strategic options, including a possible sale of the company. ANALYST REACTION: In a note to investors today, Robert W. Baird analyst Colin Sebastian wrote that Amazon's service should be appealing to users searching for local services or shopping for products that have to be serviced. Moreover, service providers should also find value in Amazon's website, Sebastian stated. Service providers will only have to pay Amazon a share of the revenue they receive from customers they obtain from the website, the analyst wrote. Also, Amazon's popularity will enable it to bring meaningful amounts of business to the service providers, Sebastian wrote. He kept a $340 price target and Outperform rating on Amazon shares. Sebastian also noted that the market is increasingly competitive, with Groupon (GRPN) and Yelp (YELP) among the other public companies in the space, and he said he expects Facebook (FB) and Google (GOOG) to build more local services over time. PRICE ACTION: In early afternoon trading, Angie's List fell 4% to $6 and Amazon slid 1% to $332.50.
12:22 EDTANGIAmazon uniquely positioned in home services market, says RW Baird
After the Wall Street Journal this morning highlighted the recent roll-out of Amazon (AMZN) Local Services in select U.S. cities, RW Baird analyst Colin Sebastian says the tech giant is "uniquely positioned" in the $400B home services market given its position in e-commerce and ability to geo-target traffic to local service professionals. Sebastian notes the market is increasingly competitive, with Angie's List (ANGI), Groupon (GRPN) and Yelp (YELP) among the public companies in the space. He also expects Facebook (FB) and Google (GOOG) to build more local services over time. Sebastian keeps an Outperform rating on Amazon, point out Baird's initial e-commerce checks suggest a solid start to holiday shopping.
09:11 EDTANGIAmazon launches local service provider offering in NY, LA, WSJ reports
Amazon.com (AMZN) has launched Amazon Local Services, which connects customers to local service providers, in New York, Los Angeles and Seattle, according to The Wall Street Journal, citing a person briefed on the plan. The Fly notes that Angie’s List (ANGI) operates a service for members to research, hire, and review local professionals. Reference Link
November 24, 2014
08:45 EDTANGIAngie's List shares 'becoming more compelling,' says Wunderlich
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