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Stock Market & Financial Investment News

News Breaks
May 6, 2014
07:55 EDTLINTA, LVNTA, TRIPLiberty TripAdvisor files prospectus for spin-off from Liberty Interactive
Liberty TripAdvisor is currently a subsidiary of Liberty Interactive (LINTA) and its businesses, assets and liabilities consist of Liberty's 22% ownership interest and 57% voting interest in TripAdvisor (TRIP), Liberty's 100% ownership interest in BuySeasons, which currently forms a part of Liberty's wholly owned subsidiary, Celebrate Interactive, anticipated corporate level cash and cash equivalents of $50M and $400M in indebtedness. Liberty has determined to spin off Liberty TripAdvisor by distributing to the holders of its Liberty Ventures (LVNTA) common stock, as a dividend, all of Liberty TripAdvisor's stock. Concurrently with Liberty's plan to effect the spin-off, Liberty is also pursuing a plan to reclassify its Liberty Interactive common stock into a new QVC Group common stock and a new Liberty Digital Commerce common stock. If the Proposed Reclassification occurs prior to the spin-ff, no shares of Liberty TripAdvisor's common stock would be distributed to holders of Liberty's Series A QVC Group common stock, Series B QVC Group common stock, Series A Liberty Digital Commerce common stock or Series B Liberty Digital Commerce common stock. At present, Liberty's interest in TripAdvisor is attributed to its Ventures Group and BuySeasons, as a part of Celebrate, is attributed to its Interactive Group. In the event that the spin-off occurs prior to the proposed reclassification, BuySeasons would be reattributed from Liberty's Interactive Group to its Ventures Group prior to the spin-off. In the event that the spin-off does not occur prior to the proposed reclassification, BuySeasons will be attributed to the QVC Group in connection with the reclassification and then later reattributed to the Ventures Group prior to the spin-off. The company's interest in TripAdvisor will remain attributed to the Ventures Group should the proposed reclassification occur prior to the spin-off. If all conditions to the spin-off are satisfied or waived by the board of directors of Liberty, for each whole share of Liberty's Series A Liberty Ventures common stock held, shareholders will receive one share of Liberty TripAdvisor's Series A common stock, and for each whole share of Liberty's Series B Liberty Ventures common stock (LVNTB) held, shareholders will receive one share of Liberty TripAdvisor's Series B common stock. No shares of Liberty TripAdvisor's common stock are being distributed to holders of Liberty's Series A Liberty Interactive common stock or Series B Liberty Interactive common stock (LINTB).
News For LINTA;LVNTA;TRIP From The Last 14 Days
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July 30, 2014
07:36 EDTLINTA, LVNTAFTD Companies to aqquire Liberty's floral and gifting businesses
FTD Companies (FTD) and Liberty Interactive (LINTA, LINTB, LVNTA, LVNTB) announced that they have executed a definitive agreement under which FTD will acquire Liberty's Provide Commerce floral and gifting businesses. Under the terms of the $430M transaction, Liberty will receive 10.2M shares of FTD common stock representing 35% of the combined company and $121M in cash. FTD and Liberty expect to complete the transaction by the end of 2014. The strategic combination of FTD's brand and floral network with the Provide Commerce collection of consumer gifting e-commerce brands, which include ProFlowers, Shari's Berries and Personal Creations. The transaction will unite two highly complementary businesses, generate material cost synergies and create a team with "best-in-class" operating strategies. Together, FTD and Provide Commerce, each with over $600M in annual revenues, will offer consumers innovative and expansive floral and gift products and an enhanced shopping experience. The combination is expected to generate more than $25M in annual synergies within 36 months of closing, with a goal of creating incremental value for FTD stockholders over time.
July 25, 2014
05:16 EDTTRIPTripAdvisor to acquire Viator for about $200M
TripAdvisor announced it has entered into an agreement to acquire Viator. Viator features more than 20,000 bookable tours and attractions and more than 600,000 reviews, photos, and videos submitted by travelers. Viator has more than 250 employees who will continue to work at the company's headquarters in San Francisco and offices in Las Vegas, London and Sydney. The acquisition is expected to close during Q3. Upon closing, Viator will be the fourth acquisition in 2014, following lafourchette, Tripbod, and Vacation Home Rentals. The purchase price for the transaction is approximately $200M, subject to adjustment, and will be payable substantially in the form of cash.
July 24, 2014
12:32 EDTTRIPOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday amid another wave of earnings reports, headlined by Facebook (FB), Caterpillar (CAT), General Motors (GM) and Ford (F). The market has moved in a narrow range as investors try to digest the bevy of earnings reports that were released last night and this morning. The market has also had to battle a negative economic report on new home sales, which not only disappointed in June but saw the prior month revised lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 19K to 284K in the week ended July 19. While the BLS said there were no special factors in the claims data, they also reminded that the numbers can be very volatile at this time of year due in part to auto shutdowns. Markit's flash U.S. PMI for July dipped 1 point to 56.3 from 57.3 in June. June new home sales fell 8.1% to a 406K rate, which was worse than expected, and May's data was downwardly revised. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 52 in July from 50.7 a month earlier. COMPANY NEWS: Facebook achieved a new all-time high and its share price eclipsed $76, a level that was more than double the price of its initial public offering, after its revenue and profits beat expectations. After the report a number of Wall Street analysts hiked their price targets on the stock, with Jefferies and Topeka both raising their targets on the social network operator's stock to $100... Shares of General Motors declined more than 3% after its earnings per share, excluding special items, missed consensus expectations and its revenue also fell short of the analysts' forecast. The company took a $400M special charge related to its ignition switch compensation program, but cautioned that there is no cap on this program and it is possible the total cost could increase by another $200M. Also, GM recorded a non-cash pre-tax special charge of about $900M in the second quarter for the estimated costs of future possible recalls for "up to the next 10 years on 30M GM vehicles on the road today." In contrast, Ford reported earnings per share, excluding special items, and revenue that beat expectations and its stock rose 1%... Caterpillar dropped over 3% after its quarterly revenue missed expectations and it narrowed its outlook for full-year revenue. However, the heavy machine maker's earnings did beat the consensus forecast and it raised it fiscal year profit outlook. MAJOR MOVERS: Among the notable gainers was Sodastream (SODA), which jumped nearly 20% after Bloomberg said the home beverage system maker is in talks with an investment firm on deal that would make it a private company and value it at about $828M, or $40 per share. Also higher following their earnings reports were Under Armour (UA), which rose 15%, and Dr. Pepper Snapple (DPS), which gained 5%. Among the noteworthy losers following their earnings reports were homebuilder DR Horton (DHI), which fell 10%, online travel company TripAdvisor (TRIP), which dropped 9%, and semiconductor chip maker Qualcomm (QCOM), which slid 6%. Also lower was review service operator Angie's List (ANGI), which plunged 19% after reporting second quarter losses per share and revenue that were worse than expected, prompting a number of downgrades of its stock by Wall Street analysts. INDEXES: Near midday, the Dow was up 8.25, or 0.05%, to 17,094.88, the Nasdaq was up 6.10, or 0.14%, to 4,479.80, and the S&P 500 was up 2.98, or 0.15%, to 1,989.99.
10:24 EDTTRIPTripAdvisor tumbles after earnings miss, levels to watch
The shares are down over 10.6% to $95.96 following a miss on Q2 earnings last night after the close. Cantor downgraded the shares to Hold in the wake of results, with Deutsche Bank, Pacific Crest, and Piper Jaffray calling share declines a buying opportunity. At current price next support is at $95.26, the session low. Resistance is at $96.96.
10:03 EDTTRIPOn The Fly: Analyst Downgrade Summary
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09:36 EDTTRIPActive equity options trading on open
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09:16 EDTTRIPOn The Fly: Pre-market Movers
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07:49 EDTTRIPTripAdvisor sell-off a buying opportuntiy, says Deutsche Bank
Deutsche Bank says it would take "aggressive advantage" of the post-earnings pullback in shares of TripAdvisor. The firm reiterates a Buy rating on the stock with a $122 price target.
07:19 EDTTRIPTripAdvisor shares should be bought on weakness, says Pacific Crest
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06:40 EDTTRIPTripAdvisor downgraded to Hold from Buy at Cantor
Cantor downgraded TripAdvisor to Hold due to valuation following mixed Q2 results. Price target remains $94.
05:58 EDTTRIPTripAdvisor pullback a buying opportunity, says Piper Jaffray
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July 23, 2014
18:34 EDTTRIPOn The Fly: After Hours Movers
UP AFTER EARNINGS: Fortinet (FTNT), up 7.8%... Hanesbrands (HBI), up 5.4%... 8x8 (EGHT), up 5.1%... Infinera (INFN), up 4.9%... Facebook (FB), reverses and is now trading up 5.1% following second quarter earnings conference call. NOTABLE: Twitter (TWTR), up 1.7%, LinkedIn (LNKD), up marginally, and Yelp (YELP), up 1.6% after Facebook reports second quarter results. ALSO HIGHER: Spectranetics (SPNC), up 7.1% after receiving FDA clearance for atherectomy products, Turbo-Tandem and Turbo Elite... Ariad Pharmaceuticals (ARIA), up 7.1%... Jamba (JMBA), up 3.8% after Engaged Capital reports stake in the company and announced that they had discussions with management. DOWN AFTER EARNINGS: AT&T (T), down 1.2%... Angie's List (ANGI), down 16.4%... Tripadvisor (TRIP), down 11.5%... Orchids Paper (TIS), down 7.4%... Cirrus Logic (CRUS), down 6.6%... Cliffs Natural (CLF), down 1.2%... Teradyne (TER), down 4%. ALSO LOWER: Kandi Technologies (KNDI), down 3.8% after being mentioned negatively in a Seeking Alpha blog post.
16:49 EDTTRIPTripAdvisor sees FY14 revenue growth in high 20s to low 30s
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16:26 EDTTRIPTripAdvisor drops 8% to $99.25 after Q2 earnings miss expectations
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16:04 EDTTRIPTripAdvisor reports Q2 EPS 55c, consensus 61c
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15:30 EDTTRIPNotable companies reporting after market close
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14:01 EDTTRIPTripAdvisor July weekly 107 straddle priced for 7.2% move into Q2
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11:24 EDTTRIPIndustry data points to strong Q2 for online travel names, says Piper Jaffray
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July 22, 2014
09:13 EDTTRIPAmazon HomeAway TripAdvisor should be bought into results, says Pacific Crest
Pacific Crest expects TripAdvisor (TRIP), Amazon (AMZN) and HomeAway (HOME) to report strong Q2 results. The firm thinks that all three companies have strong fundamentals.
06:58 EDTTRIPTripAdvisor volatility elevated into Q2 and outlook
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