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News Breaks
February 13, 2013
09:21 EDTPPHM, RAX, GRPN, Z, RATE, ALB, RKUS, CLF, VG, CMCSA, TRLA, PRLB, GEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Trulia (TRLA), up 15.6%... Vonage (VG), up 6.6%... Proto Labs (PRLB), up 9.5%... ALSO HIGHER: Comcast (CMCSA), up 7.1% after results, increased dividend, deal to buy-out NBC from GE (GE). Shares of GE up 2.8% after deal and increased share buyback plans... Zillow (Z), up 4.4% following better than expected report from peer Trulia... Peregrine Pharmaceuticals (PPHM), up 15.6% after reporting Phase II results for bavituximab for pancreatic cancer... Albermarle (ALB), up 6.1% after increasing dividend, expanding share buyback... Groupon (GRPN), up 7% following upgrade to Buy at Sterne Agee... LOWER AFTER EARNINGS AND DOWNGRADES: Cliffs Natural (CLF), down 14.3%, downgrades at Deutsche Bank, Citi and Macquarie... Bankrate (RATE), down 18.3%, downgrade at Citi... Rackspace (RAX), down 12.8%, downgrade at Stifel Nicolaus... Ruckus Wireless (RKUS), down 9.2%, downgrade at Needham.
News For CMCSA;GE;TRLA;VG;PRLB;Z;PPHM;ALB;GRPN;CLF;RATE;RAX;RKUS From The Last 14 Days
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July 23, 2015
07:20 EDTCMCSAComcast reports Q2 NBCUniversal revenue of $7.2B
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07:11 EDTCMCSAComcast reports Cable customer relationships increased by 31,000
Revenue for Cable Communications increased 6.3% to $11.7B in Q2 compared to $11.0B in the second quarter of 2014, driven by increases of 10.0% in high-speed Internet, 20.4% in business services and 3.7% in video. Customer Relationships increased by 31,000 to 27.3M in Q2, a 56,000 improvement compared to the second quarter of 2014 and driven by increases in double and triple product relationships. At the end of Q2, double and triple product customers increased to 69% of total customer relationships compared to 68% in the second quarter of 2014. Video net losses improved 52% year-over-year to 69,000 and were the best result for a second quarter in nine years, while High-Speed Internet customers grew by 180,000 and Voice net additions were 49,000.
07:02 EDTCMCSAComcast reports Q2 EPS 84c, consensus 84c
Reports Q2 revenue $18.7B, consensus $18.14B. Consolidated Operating Cash Flow increased 8.0% to $6.3B. Excluding $79M of Time Warner Cable (TWC) and Charter (CHTR) transaction-related costs in the second quarter of 2015 and $44M in the second quarter of 2014, consolidated operating cash flow increased 8.5%
06:08 EDTPRLBProto Labs reports Q2 non-GAAP EPS 50c, consensus 48c
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05:59 EDTCMCSAEU sends Statement of Objections to Sky, U.S. film studios
The European Commission has sent a Statement of Objections to Sky UK (SKYAY) and six major U.S. film studios: Disney (DIS), NBCUniversal (CMCSA), Paramount Pictures (VIA), Sony (SNE), Twentieth Century Fox (FOXA) and Warner Bros (TWX). The Commission takes the preliminary view that each of the six studios and Sky UK have bilaterally agreed to put in place contractual restrictions that prevent Sky UK from allowing EU consumers located elsewhere to access, via satellite or online, pay-TV services available in the UK and Ireland. Without these restrictions, Sky UK would be free to decide on commercial grounds whether to sell its pay-TV services to such consumers requesting access to its services, taking into account the regulatory framework including, as regards online pay-TV services, the relevant national copyright laws. If the Commission's preliminary position were to be confirmed, each of the companies would have breached EU competition rules prohibiting anti-competitive agreements. The sending of a Statement of Objections does not prejudge the outcome of the investigation. These antitrust investigations focus on contractual restrictions on passive sales outside the licensed territory in agreements between studios and broadcasters.
05:23 EDTCLFStocks with implied volatility movement; MDLZ CLF
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July 22, 2015
16:12 EDTZZillow Group to acquire DotLoop
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15:26 EDTCMCSANotable companies reporting before tomorrow's open
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11:34 EDTCLFOptions with increasing put volume and implied volatility: RSX CLF FFIV
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07:45 EDTCMCSAComcast July weekly volatility elevated into Q2 and outlook
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07:23 EDTGEFrench minister 'reassured' by elements of Alstom, GE deal talks, Reuters says
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July 21, 2015
16:13 EDTZZillow Group board approves creation of Class C shares
Zillow Group announced its board has unanimously approved a stock dividend of non-voting Class C capital stock. On August 14, all shareholders of record of Zillow Group's Class A and Class B common stock as of July 31, the record date of the dividend, will receive a dividend of two shares of Class C capital stock for each share of Class A and Class B common stock held by them as of the record date. The issuance of Class C capital stock is an extension of Zillow Group's dual-class structure, whereby Zillow Group's co-founders Rich Barton and Lloyd Frink hold Class B shares. "The Class C dividend enables the company to continue its focus on long-term growth and innovation, while maintaining the flexibility to issue additional stock for strategic business decisions and to retain and attract the best employees," it stated. Application to the Nasdaq has been made to list the Class C capital stock. Following the issuance date of the dividend, Zillow Group expects the Class C capital stock will trade under the ticker symbol "Z" and the Class A common stock will trade under the ticker symbol "ZG."
11:01 EDTPRLBProto Labs acquires new facility to expand 3D printing service
Proto Labs has acquired a new facility to expand its 3D printing service into a larger and more efficient additive manufacturing space. The 77,000 sq. ft. facility will allow the digital manufacturing company to house all of its stereolithography, selective laser sintering and direct metal laser sintering (DMLS) technology under one roof. The new plant is scheduled to become fully operational in the first half of 2016, and will remain in the North Carolina area where Proto Labsí current additive facilities are located. In addition to moving its existing equipment into the larger space, the prototyping and low-volume manufacturer plans to increase its overall 3D printing capacity with new machines. Anchoring the expansion will be SLS and DMLS equipment, which produce durable nylon parts and functional metal parts respectively. As 3D printing continues to grow industry-wide, Proto Labsí plans to be well-equipped to accommodate the ongoing evolution of additive manufacturing.
July 20, 2015
16:20 EDTGEFederal Reserve establishes enhanced standards for GE Capital
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10:43 EDTZZillow slides to 52-week low after Barclays cuts to sell
The shares of Zillow (Z) are falling after Barclays downgraded the stock to Underweight, the firm's equivalent of a "Sell" rating, citing increased competition in the "local" segment of the Internet market. Zillow's websites advertise homes that are up for sale. WHAT'S NEW: In a note to investors earlier today, Barclays analyst Christopher Merwin wrote that, heading into second quarter results, he does not recommend Internet stocks that have been "challenged" and have relatively "cheap" valuations. These valuations are only "cheap" based on consensus estimates that are probably too high, the analyst believes. Based on that criteria, he downgraded Zillow to Underweight from Equal Weight. He also used the same criteria to downgrade Yelp (YELP), whose website features user reviews of local businesses, to Equal Weight from Overweight. Both companies are facing an "atypical level" of competition, driven by a favorable venture capital funding environment, Merwin indicated. The competition has driven down the companies' multiples, he believes. WHAT'S NOTABLE: Merwin recommended that investors buy the shares of small and mid cap Internet companies whose estimates are just beginning to be revised upwards by analysts. He identified IAC (IACI), which owns several dating websites, as one stock in this category. IAC should benefit from increased monetization of its popular Tinder dating app and the stabilization of its core dating websites, the analyst contended. Also poised for further positive estimate revisions are video game makers Electronic Arts (EA) and Activision Blizzard (ATVI), Merwin believes. The companies' increased revenue from digital games should mitigate the risk they face from slowing software growth as sales of new consoles slow, the analyst believes. He noted that 50% of both companies' revenue are now generated from digital games and identified Electronic Arts and Activision Blizzard as two of his top ideas. PRICE ACTION: In morning trading, Zillow fell 5% to $79 after hitting a 52-week low of $76.82 earlier in the session. Meanwhile, Yelp slid 1.6% to $34.40, IAC fell fractionally to $83.83, Electronic Arts added about 1% to $74.15 and activision Blizzard rose 0.5% to $25.93.
10:00 EDTZOn The Fly: Analyst Downgrade Summary
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09:04 EDTGEGE chooses Microsoft Office 365 fro employee collaboration and productivity
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06:16 EDTGEAlstom sees General Electric deal completed in coming months, Reuters reports
Alstom (ALSMY) expects to complete the transaction with GE (GE) in the coming months, Reuters reports. Reference Link
05:44 EDTZZillow Group downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Christopher Merwin downgraded Zillow Group (Z) to Underweight saying competition is increasing in local. Underweight is Barclays' equivalent to a sell rating. The real estate and rental marketplace owner closed Friday at $83.27. Merwin believes consensus growth estimates are likely too high heading into Zillow's Q2 results and cut his price target for the stock to $70 from $90. The analyst this morning also downgraded Yelp (YELP) to Equal Weight for similar reasons. His top U.S. Internet picks heading into Q2 earnings season are IAC (IACI), Activision Blizzard (ATVI) and Electronic Arts (EA). Merwin thinks Activision and Electronic Arts will receive more than half of their 2015 revenue from digital.
July 19, 2015
15:43 EDTCMCSADisney's 'Ant-Man' leads U.S. weekend box office with $58M
For the weekend of July 19, Disney's (DIS) "Ant-Man" topped domestic box office charts at $58M. Comcast (CMCSA, CMCSK) subsidiary Universal's "Minions" landed in second place with $50.2M, while Universal's "Trainwreck" came in third with $30.2M. Disney's "Inside Out" and Universal's "Jurassic World" took fourth and fifth place at $11.7M and $11.4M, respectively. Data gathered by Rentrak.
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