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Stock Market & Financial Investment News

News Breaks
February 21, 2014
11:03 EDTSALE, GRPN, RLOC, EBAYGroupon 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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May 22, 2015
05:50 EDTEBAYPayPal's Dan Schulman expects new services for mobile world, AP reports
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May 21, 2015
12:52 EDTEBAYESPN and StubHub agree to content distribution deal, Variety reports
Disney's (DIS) ESPN has agreed to a content distribution deal with eBay's (EBAY) StubHub, reports Variet. Terms of the deal were not disclosed. ESPN plans to feed scores, team stats and articles to StubHub's app, a feature that will be available in the U.S., the U.K. and Canada. Reference Link
May 20, 2015
18:44 EDTEBAYeBay tests Amazon.com Prime-type program in Germany, WSJ reports
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17:36 EDTEBAYTwitter announces full launch of objective-based ad service
In a company blog post, Twitter (TWTR) stated, "Last year, we launched a... way for advertisers to create and optimize their ad campaigns, and only pay for the actions that are aligned with their marketing objectives. After seeing strong results in beta, we’re excited to offer objective-based campaigns, reports and pricing to all advertisers globally, starting today." Based on the beta test of the service, Twitter claims that eBay (EBAY) was able to drive a 59% quarter-over-quarter decrease in average paid cost per link click, while Tableau (DATA) reduced its cost per link click by over 40% quarter-over-quarter. Twitter went on to say, "When creating a new campaign, you can select from one of six objectives -- and our customized workflow will help you choose the best ad format. For example, if you want to drive traffic to your brand’s website, you can select a website clicks or conversions campaign... You’ll only be charged when a user clicks on a link to your website -- all other engagements, like a favorite or a retweet, are free. You’ll never pay for actions that aren’t relevant to your goal." Reference Link
May 19, 2015
12:29 EDTEBAYPayPal to pay $25M to settle CFPB charges of deceptive advertising
The Consumer Financial Protection Bureau announced earlier that it is filing a complaint and a proposed consent order against PayPal (PYPL) for illegally signing up and billing tens of thousands of consumers for its online credit product, PayPal Credit. The Bureau alleges that PayPal, which is scheduled to be separated from eBay (EBAY), lured in consumers to this product with deceptive advertising, signed up people without them knowing it, and then mishandled billing disputes when they arose. Under the CFPB's proposed order, PayPal would return the $15M that it illegally took from consumers and it would pay a $10M penalty for its wrongful actions.
07:32 EDTEBAYPacific Crest shifts preference to MasterCard, upgrades to buy
Pacific Crest analyst Josh Beck shifted his preference to MasterCard (MA) from Visa (V) and upgraded the stock to Overweight from Sector Weight. Beck believes interchange legislation in Europe may have an unintended consequence of benefiting global open-loop payment networks, favoring both MasterCard and Visa. The changes are also positive for eBay's (EBAY) PayPal and mixed for American Express (AXP), Beck tells investors today in a research note. He points out his preference for MasterCard relative to Visa follows the latter company's outperformance over the past year. Beck has a $110 price target for MasterCard shares. The stock closed yesterday down 14c to $93.08.
May 15, 2015
17:08 EDTEBAYSoros Fund gives quarterly update on stakes
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12:13 EDTEBAYThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
11:08 EDTEBAYOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
10:55 EDTEBAYJANA Partners gives quarterly update on stakes
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06:13 EDTEBAYISS, Glass Lewis advise Intel investors to vote 'no' on eBay CEO, WSJ reports
ISS and Glass, Lewis & Co, two influential proxy advisory firms, are recommended Intel (INTC) investors vote against the reelection of eBay (EBAY) CEO John Donahoe to the company's board, The Wall Street Journal reports. Citing what it characterized as a poor attendance record, Glass Lewis commented "We view this as a failure by this director to fulfill a fundamental responsibility to represent shareholders at such meetings," while ISS said Donahoe "lacked a valid excuse" for attending less than 75% of the meetings held by the Intel board and committees he serves on in 2014. Intel's annual shareholders meeting is scheduled for May 21. Reference Link
May 14, 2015
17:36 EDTEBAYeBay, PayPal separation remains on-track to be completed in Q3
17:35 EDTEBAYPayPal names board following separation from eBay
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17:33 EDTEBAYeBay names board following separation from PayPal
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14:30 EDTEBAYPayPal to trade on Nasdaq with symbol 'PYPL' after separation completed
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May 11, 2015
10:17 EDTGRPNOptions with decreasing implied volatility
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