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Stock Market & Financial Investment News

News Breaks
July 24, 2014
12:05 EDTANGI, YELPAngie's List plummets after Q2 report triggers multiple downgrades
Shares of consumer-driven review service Angie's List (ANGI) are plummeting after the company reported second quarter losses per share and revenue that were worse than expected, prompting a number of downgrades of its stock by Wall Street analysts. WHAT'S NEW: Angie's List reported a Q2 loss per share of (31c) which was worse than analysts' consensus forecast for a (24c) per share loss. The company's Q2 revenue was $78.9M, which was below analysts' consensus of $80.19M. The review service reported Q2 gross member additions of approximately 399K at an average cost per acquisition of $90 and reported total end of period paid memberships of 2.84M. Angie's Q2 average membership renewal rate was 77%. Angie's List guided to Q3 revenue of $80.5M-$82.5M, which is lower than analysts' consensus of $86.63M. Angie's List added that it expects to generate positive adjusted EBITDA for FY14, with CEO Bill Oesterle saying, "While revenue growth in e-commerce was lower than expected, we continued to make progress against our strategy of enabling service providers and populating their stores with offers. We expect significant improvement in margin in the second half of the year and continue to see compelling opportunities for growth." ANALYST REACTION: After Angie's List's report, at least seven Street research firms downgraded their ratings on its stock. Oppenheimer analyst Jason Helfstein downgraded Angie's List to Perform from Outperform, stating that while executives feels that vendor renewal rates are strong, the ratio of selling expense to vendor revenue is leaning negatively, productivity per rep is decreasing and e-commerce revenue is decelerating. MKM Partners analyst Rob Sanderson downgraded the review service company to Neutral from Buy, saying that Angie's List gave several "layers" of disappointing news in the Q2 earnings report. Sanderson said that the data went against its anticipation for signs of stability this quarter. Piper Jaffray analyst Gene Munster lowered his price target for Angie's List to $12 from $17 and believes that shares of Angie's List, but believes shares are "washed out" after the company gave its Q2 report. Munster perceives the firm's outlook to be conservative and feels investor anticipations are at "rock bottom," which could mean that any optimistic updates from Angie's list could have "meaningful" and "positive" benefit. Munster maintained an Overweight rating on the stock. PRICE ACTION: During midday trading, shares of Angie's List fell $2.07, or 20% to $8.10. OTHERS TO WATCH: Yelp (YELP), which also allows users to review local businesses, is up 1% to $69.40 near noon.
News For ANGI;YELP From The Last 14 Days
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October 20, 2014
07:16 EDTANGIAmerican Academy of Ophthalmology to hold annual meeting
AAO Annual Meeting 2014 is being held in Chicago on October 18-21.
07:13 EDTYELPYelp October weekly volatility elevated into Q3 and outlook
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October 14, 2014
11:01 EDTANGIAngie's List to expand headquarters, create jobs
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10:48 EDTANGIAngie's List mentioned cautiously by dealReporter
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October 13, 2014
07:38 EDTYELPSalesforce to hold a conference
Dreamforce 2014 is being held in San Francisco on October 13-16.
October 10, 2014
10:01 EDTYELPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
07:16 EDTANGIAmerican Society of Plastic Surgeons to hold annual meeting
Annual Meeting of ASPS is being held in Chicago on October 10-14.
October 9, 2014
16:30 EDTYELPYelp initiated with a Buy at Sterne Agee
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14:56 EDTANGIAngie's List October calls active
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10:41 EDTYELPYelp calls activity attributed to takeover speculation
Yelp October weekly 74.5 and October 94 calls are active on total call volume of 6K contracts (1K puts) on takeover speculation. October weekly call option implied volatility is at 92, October is at 54, November is at 66, January is at 51; compared to its 26-week average of 55 according to Track Data. Active call volume suggesting traders taking positions for upside price movement.
10:30 EDTYELPRumor: Yelp strength attributed to takeover speculation
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