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Stock Market & Financial Investment News

News Breaks
March 8, 2013
11:07 EDTMEETMeetMe upgraded to Buy from Neutral at Sidoti
News For MEET From The Last 14 Days
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August 1, 2014
11:52 EDTMEETLinkedIn rallies after results, outlook beat estimates
Shares of social media company LinkedIn (LNKD) are rallying after the company’s second quarter results, and its outlook for both the third quarter and full year, surpassed analysts’ consensus estimates. WHAT'S NEW: Last night, LinkedIn reported second quarter adjusted EPS of 51c and revenue of $534M, topping analysts’ consensus estimates of 39c and $510.98M, respectively. Q2 premium subscription revenue came in at $105M, up 44% year over year, and represented 20% of total revenue in the second quarter. Cumulative members grew 32% in Q2 to 313M. Q2 adjusted EBITDA came in at $145M, or 27% of revenue. WHAT’S NOTABLE: For the third quarter, LinkedIn expects Q3 adjusted EPS of approximately 44c and revenue of $543M-$547M, compared to estimates of 40c and $540.86M, respectively. Q3 adjusted EBITDA is expected to range between $134M-$136M. For fiscal 2014, adjusted EPS is forecast at approximately $1.80 and revenue of $2.14B-$2.15B, versus estimates of $1.64 and $2.13B, respectively. FY14 adjusted EBITDA is expected to range between $545M-$550M. ANALYST REACTION: This morning, research firm Pacific Crest raised its price target on LinkedIn to $250 from $220 and kept an Outperform rating on the shares due to strong Q2 results. The firm said user metrics were “shaky” and still a “big question,” however they were optimistic about the company’s new initiatives such as job listings, international, CRM, and advertising. They felt LinkedIn was the least expensive of the fast-growing internet names. Another firm, JP Morgan, also raised their price target to $241 from $235, and kept an Overweight rating on the shares. They were impressed with the company’s better than expected Q2 results, its marketing reacceleration, and the re-launch of its sales navigator product. PRICE ACTION: In late morning trading, LinkedIn rose $17.63, or almost 10%, to $198.27 on nearly triple its average daily trading volume. Despite today’s advance, the stock has lost approximately 7% over the past twelve months. OTHERS TO WATCH: Other companies in the social media space include Facebook (FB), down 0.5%, Twitter (TWTR), down 1.3%, and MeetMe (MEET), down 4.6%.
July 29, 2014
09:01 EDTMEETMeetMe reports new mobile traffic record of 1M daily average users
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July 23, 2014
09:19 EDTMEETMeetMe 5M share Spot Secondary priced at $2.00
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July 22, 2014
17:42 EDTMEETMeetMe sees Q2 revenue $10.7M, consensus $10.41M
Mobile revenue is estimated to be $5.6M, an increase of 114% as compared to $2.6M for 2Q13. Average mobile daily active users, or DAU, for the month ended June 30 is expected to be 863,781, an increase of 12% as compared to average mobile DAU of 772,203 for the quarter ended March 31.
17:39 EDTMEETMeetMe announces proposed public offering of common stock, no amount given
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