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News Breaks
February 21, 2014
11:03 EDTSALE, RLOC, EBAY, GRPNGroupon plunges after forecasting losses in current quarter
Shares of Groupon (GRPN), a local e-commerce marketplace which offers discounted goods and services, are falling after the company’s first quarter profit forecast significantly trailed analysts’ consensus estimates. WHAT'S NEW: Last night, Groupon reported fourth quarter earnings per share of 4c and revenue of $768.4M, compared to expectations of 2c and $718M, respectively. At the end of Q4, on average, active deals in North America were approximately 80,000, compared with more than 65,000 at the end of Q3. Active customers grew 9% year-over-year, to 44.9M as of December 31, 2013. WHAT’S NOTABLE: The company forecast first quarter losses per share 2c-4c, which was far below expectations of 6c per share in earnings. Revenue for Q1 was seen at $710M-$760M, versus consensus of $668.6M. Groupon said it expects one-time costs related to the integration of its recent acquisitions, specifically as it consolidates Ticket Monster with its Korean business, and anticipates approximately $25M of additional investment in marketing and other growth initiatives to drive adoption of the marketplace. Together, in Q1, newly-acquired LivingSocial Korea and Ideeli are expected to contribute approximately $50M to revenue and have an approximately $20M negative impact on adjusted EBITDA, Groupon said. ANALYST REACTION: This morning, analyst commentary was mixed. Research firm RBC Capital downgraded Groupon to Underperform from Sector Perform after the company's 2014 EBITDA guidance came in significantly below expectations and it reported that its billings growth rates had deteriorated in Q4. The firm lowered its price target on the shares to $7 from $11. Conversely, Piper Jaffray said Groupon’s quarter was “not as bad as it looks.” The firm attributed the post-earnings pullback in shares of Groupon to the company's North America local billings decelerating to 2% year-over-year growth and it’s weaker than expected earnings guidance. Piper kept an Overweight rating on the stock with a $15 price target. The firm believes Groupon remains well positioned to build a deal marketplace, Piper added. PRICE ACTION: In morning trading, Groupon dropped $1.73, or 16.9%, to $8.55 on more than twice its average daily trading volume. Despite today’s slide, the stock is up by approximately 48% over the past twelve months. OTHERS TO WATCH: eBay (EBAY) owns an online marketplace with a significant mobile presence. RetailMeNot (SALE) operates a digital coupon marketplace. ReachLocal (RLOC) owns DealOn Media, a local deals company.
News For GRPN;EBAY;RLOC;SALE From The Last 14 Days
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December 1, 2015
16:34 EDTEBAYChannelAdvisor SSS report shows Cyber Monday biggest online shopping day of 2015
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15:20 EDTGRPNGroupon reports North American billings up 41% over holiday weekend
Groupon CEO Rich Williams said in a post to the company's blog that Groupon's North American billings were up 41% compared to last year for the full Black Friday through Cyber Monday weekend. Customers purchased 52% more Groupons over the four-day weekend than in 2014, Williams added. Reference Link
10:19 EDTEBAYChannelAdvisor says Amazon 'Cyber Five' SSS up 24.1%
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09:49 EDTEBAYData suggests Cyber Monday tracked to eBay guidance, says Piper Jaffray
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08:50 EDTEBAYCyber Monday sales up 12% to record $2.98B, according to Adobe
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November 30, 2015
18:38 EDTEBAYChannelAdvisor says Cyber Monday SSS up 16.8% through 3 pm
In an update to its Thanksgiving sales data, market researcher ChannelAdvisor reported that Cyber Monday same-store sales were up 16.8% through 3 pm ET. Amazon (AMZN) comp sales were up 25.6% relative to last year while those of eBay (EBAY) were up 3.2%. ChannelAdvisor commented, "Historically, Cyber Monday has peaked late in the evening, [and] so far the day is accelerating." Note that ChannelAdvisor's report near noon reported overall Cyber Monday SSS up 13.3%, with Amazon and eBay showing respective comp sales growth of 22.4% and 1.9% at that time. Reference Link
14:19 EDTEBAYMastercard: Online up, department stores flat over Thanksgiving, Reuters reports
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13:15 EDTEBAYChannelAdvisor says Cyber Monday SSS up 13.3% through noon
ChannelAdvisor reports that Cyber Monday same-store-sales are up 13.3% through noon. (AMZN) comp sales are up 22.4% relative to last year and eBay (EBAY) is up 1.9%. Reference Link
09:14 EDTEBAYAmazon 'Cyber Sunday' SSS up 20.5%, eBay SSS up 4.5%, ChannelAdvisor says
In a continuation of its series of holiday weekend updates, market researcher ChannelAdvisor said (AMZN) "Cyber Sunday" same-store sales rose 20.5% and eBay's (EBAY) SSS grew 4.5%. Google Shopping/PLA (GOOG) SSS growth came in at 23.7% for Cyber Sunday, the blog added. Reference Link
08:46 EDTEBAYAmazon SSS rose over 20% on Black Friday, Cyber Saturday, ChannelAdvisor says
ChannelAdvisor reported in blog posts over the holiday weekend that (AMZN) outperformed the 15% e-commerce growth benchmark with same-store sales estimated to grow by 20.8% on Black Friday and by 20.6% on Cyber Saturday. eBay (EBAY) SSS increased 1.5% year-over-year on Black Friday and 3.6% on Cyber Saturday, ChannelAdvisor said. Google Shopping/PLA (GOOG, GOOGL) SSS grew 40.3% on Black Friday and by 25.7% for Cyber Saturday, the blog added. Reference Link
November 27, 2015
12:55 EDTEBAYBlack Friday online spending estimated up 15% in early read, Bloomberg reports
Adobe said in an e-mailed statement to Bloomberg that early data show a 15% increase in online spending compared to last year, with $822M spent online between midnight and 11 am this Black Friday morning.
11:15 EDTEBAYChannelAdvisor says Amazon SSS up 29% on Thanksgiving, eBay up 7%
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08:26 EDTEBAYAdobe says U.S. e-commerce sales surged on Thanksgiving, Bloomberg reports
Adobe Systems estimated that online shoppers in the U.S. spent $1.1B by 5 pm ET on Thanksgiving and projected that $1.7B would be spent in online shopping by day's end, a 22% jump from last year, reported Bloomberg. Major e-commerce players that may benefit from the surge in spending include (AMZN) and eBay (EBAY), while companies with omnichannel presences including e-commerce and brick-and-mortar locations include Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and Macy's (M). Reference Link
November 25, 2015
10:29 EDTEBAYeBay says working to resolve issues some users are experiencing
In a tweet to its official Twitter account, eBay states: "We're aware that some users are experiencing issues & we're working to resolve. We apologize for any inconvenience! Stay tuned for updates." Reference Link
10:04 EDTEBAYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21Vianet (VNET) downgraded to Neutral from Overweight at JPMorgan... Anglo American (AAUKY) downgraded to Reduce from Hold at HSBC... Boulder Brands (BDBD) downgraded to Market Perform from Outperform at William Blair... Cracker Barrel (CBRL) downgraded to Hold from Buy at Argus... HP Inc. (HPQ) downgraded to Hold from Buy at Needham... PTC Therapeutics (PTCT) downgraded to Underperform from Hold at Jefferies... SunEdison (SUNE) downgraded to Sell from Neutral at UBS... TerraForm Power (TERP) downgraded to Sell from Neutral at UBS... Tiffany (TIF) downgraded to Neutral from Buy at Monness Crespi... Valspar (VAL) downgraded on negative catalysts at RBC Capital... eBay (EBAY) downgraded to Buy from Conviction Buy at Goldman.
06:46 EDTEBAYeBay downgraded to Buy from Conviction Buy at Goldman
Goldman analyst Heath Terry removed eBay from the Conviction Buy List due to share outperformance. Terry maintains his Buy rating and increased his price target to $33 from $30 on shares, citing a more focused strategy following the PayPal spinoff, investments in technology and marketing to support Marketplaces, ongoing capital returns and what he views as a favorable risk/reward ratio.
November 19, 2015
07:34 EDTSALEGoldman Sachs to hold a conference
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November 18, 2015
10:08 EDTGRPNGoPro sinks after analyst finds cameras on flash sales sites
The shares of action camera maker GoPro (GPRO) are sinking and hit a new 52-week low after research firm Piper Jaffray reported that the company has been offering significant discounts on its cameras. WHAT'S NEW: GoPro's cameras have been selling on flash sales websites such as Zulily (ZU) and Groupon (GRPN) at price discounts of 16%-34%, Piper analyst Erinn Murphy wrote in a note to investors today. As a result of these discounts and the 147% increase in GoPro's inventory at the end of the third quarter, the analyst is concerned that the company's gross margin could be pressured. In addition to the discounts GoPro is offering on the flash websites, the camera maker cut the price of its GoPro Session camera on Amazon to $299 from $399 in September and there has been "select downward price movement" on two more of its cameras on Amazon, Murphy reported. The analyst continues to expect GoPro's Q4 earnings per share to come in at 34c, versus analysts' consensus estimate of 41c. She slashed her fiscal 2016 EPS estimate for the company to $1.03 from $1.35, versus the consensus outlook of $1.37. Murphy reduced her price target on the stock to $15 from $20 and kept an Underweight rating on the name. WHAT'S NOTABLE: Ambarella (AMBA) makes chips used in GoPro's cameras. Best Buy (BBY), which is due to report its results tomorrow, sells GoPro's cameras. PRICE ACTION: In early trading, GoPro fell 8% to $19.19. Earlier today, it hit a new 52-week low of $19.04.
09:34 EDTGRPNActive equity options trading on open
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07:46 EDTSALEJefferies hosts a summit
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