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Stock Market & Financial Investment News

News For MHP;APO;WMT;TGT;M;FB;YHOO;ANAD;HOGS;ARO;DWA From The Last 14 Days
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February 3, 2016
07:03 EDTAPOApollo Global adopts plan to repurchase $250M of shares
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06:52 EDTYHOOYahoo CEO: Recent announcements move to 'reassure people,' NY Times says
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06:27 EDTYHOOPiper's Munster says Yahoo growth to remain challenged for years
Piper Jaffray analyst Gene Munster says Yahoo's (YHOO) core business "seems even more challenged than before" following the company's Q4 results. Yahoo's fundamental growth challenges "will remain for multiple years," Munster tells investors in a post-earnings research note where he cut his price target for the shares to $31 from $39. He keeps an Overweight rating on Yahoo, however, pointing out that the shares still trade below a fully taxed value for both its Alibaba (BABA) and Yahoo Japan (YAHOY) stakes. The current share price seems to imply zero value for the core business, which is unfair given Verizon's (VZ) $4.4B acquisition of AOL last year, Munster contends. He believes Alibaba still provides upside to the story. Yahoo is trading down 51c to $28.55 in pre-market trading following its Q4 results.
05:12 EDTFBStocks with implied volatility below IV index mean; UA FB
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February 2, 2016
19:42 EDTYHOOYahoo shares fall after reporting Q4 results, announcing strategic alternatives
Yahoo (YHOO) shares fell Tuesday after the company reported its fourth quarter results and announced a strategic plan to simplify the embattled Internet firm. WHAT'S NEW: Yahoo reported Q4 earnings per share of 13c, in line with analyst expectations of 13c, and revenue of $1.27B, against consensus estimates of $1.19B. Yahoo also reported Q4 display revenue was up 13% year-over-year to $601M, while gross search revenue was down 7% to $866M. The company indicated that the number of ads sold during the quarter rose 8%, while price-per-ad increased 6% and paid clicks fell 10%. The company also provided first quarter and fiscal 2016 guidance, forecasting Q1 adjusted operating income of ($50M)-($30M) and revenue of $1.05B-$1.09B under Generally Accepted Accounting Principles, against consensus estimates of $1.14B. The company expects FY16 operating income of $150M-$250M and sees yearly GAAP revenue of $4.4B-$4.6B, against consensus estimates of $4.78B. WHAT'S NOTABLE: Yahoo announced it will pursue a reverse spin of its stake in Alibaba (BABA) alongside an "aggressive" strategic plan to simplify the company. Yahoo plans to reduce its workforce by roughly 15% and exit five offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan. The company also announced it will simplify its product portfolio to emphasize the products that "distinguish the company competitively" and drive the most substantial portion of users, revenue, and market opportunity. It plans to shift most of the resources in its search business toward more forward-leaning mobile search investments, positioning it to "redefine" search for mobile devices as it seeks long-term growth and differentiation. Yahoo noted it will continue to invest in its Mavens strategy to counterbalance legacy business declines, with an emphasis on mobile. In the earnings release, Yahoo's chairman Maynard Webb commented, "The board believes that exploring additional strategic alternatives, in parallel to the execution of the management plan, is in the best interest of our shareholders. Separating our Alibaba stake from our operating business continues to be a primary focus, and our most direct path to value maximization. In addition to continuing work on the reverse spin, which we've discussed previously, we will engage on qualified strategic proposals." Separately, the company disclosed in a regulatory filing that Charles Schwab gave notice he was resigning from Yahoo's board of directors effective February 2. ANALYST REACTION: Piper Jaffray analyst Gene Munster released a note following Yahoo's earnings release indicating the firm is maintaining its Overweight rating on the stock. Munster said he believes the company's focus should remain on the Alibaba split as the company reorganizes in FY16, adding that he continues to see $10 upside potential if the company is able to reach a tax-free resolution. PRICE ACTION: Shares of Yahoo are down 1.58% to $28.60 in after-hours trading. TECHNICAL ANALYSIS: At Yahoo's price, the next support is at the 52-week low at $27.20. Resistance is at the closing price at $29.06.
19:22 EDTYHOOOn The Fly: After Hours Movers
UP AFTER EARNINGS: Boot Barn (BOOT), up 16.5%... Wabash National (WNC), up 9.7%... Oclaro (OCLR), up 6.8%... Myriad Genetics (MYGN), up 8%... Ultimate Software Group (ULTI), up 6.2%... Natural Health (NHTC), up 6.2%... Edwards Lifesciences (EW), up 6.2%... Viavi Solutions (VIAV), up 2.4%... Gilead Sciences (GILD), up just under 1%. DOWN AFTER EARNINGS: Match Group (MTCH), down 7.3%... Yahoo (YHOO), down 1.2%... Chipotle (CMG), down 7.1%. ALSO LOWER: Barnes & Noble (BKS), down 2.4% after General Growth (GGP) CEO Sandeep Mathrani announced that Amazon (AMZN) is going to open 300-400 brick-and-mortar bookstores.
19:07 EDTYHOOJudge orders Yahoo to disclose details of ex-COO compensation, Reuters says
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18:13 EDTYHOOYahoo says will engage on qualified strategic proposals
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17:43 EDTANADANADIGICS says continues to negotiate with competing bidder
ANADIGICS announced that one of the entities previously designated by the company's Board of Directors as an Excluded Party under the now-terminated November 11, 2015 agreement and plan of merger between the Company and affiliates of GaAs Labs, delivered to the company on February 1, 2016 a proposed set of amended terms to Party B's previously announced January 21, 2016 unsolicited proposed merger agreement, which, among other things, contains an offer to acquire the company's common stock for a price of 78c per share. Although the Company's Board of Directors believes that there remain certain outstanding issues in connection with the February 1, 2016 Party B Proposed Amendment that need to be resolved for the protection of the Company and its stockholders, the Board of Directors, after consultation with its financial and legal advisors, determined in good faith that the February 1, 2016 Party B Proposed Amendment constitutes an acquisition proposal that could reasonably be expected to lead to a Superior Offer, as defined in the previously announced January 15, 2016 agreement and plan of merger that the Company entered into with II-VI Incorporated and an affiliate thereof. Accordingly, at the direction of the Company's Board of Directors, the Company's management and its advisors have engaged in negotiations with Party B in an attempt to resolve the outstanding issues raised by the February 1, 2016 Party B Proposed Amendment. Although the Company and its advisors intend to continue to negotiate with Party B and, as may be useful, exchange draft term sheets and the like in connection with the February 1, 2016 Party B Proposed Amendment, there can be no assurance that the outstanding issues will be resolved to the satisfaction of the Company's Board of Directors and thus no assurance that the February 1, 2016 Party B Proposed Amendment will in fact lead ultimately to a Superior Offer. In accordance with the terms of the II-VI Merger Agreement, the Company has notified II-VI of the February 1, 2016 Party B Proposed Amendment and the determination by the Company's Board of Directors that said acquisition proposal could reasonably be expected to lead to a Superior Offer, as that term is defined in the II-VI Merger Agreement.
16:59 EDTYHOOYahoo says Charles Schwab resigns from board, size of board cut to seven
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16:57 EDTYHOOYahoo sees FY16 adjusted operating income $150M-$250M, consensus 56c
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16:54 EDTYHOOYahoo sees Q1 adjusted operating income ($50M)-($30M), consensus 13c
Sees Q1 GAAP revenue $1.05B-$1.09B, consensus $1.14B. Sees Q1 cost of revenue - TAC $230M. Sees Q1 revenue ex-TAC $820M-$860M. Sees Q1 adjusted EBITDA $100M-$120M.
16:46 EDTYHOOYahoo reports Q4 gross search revenue $866M, down 7% y/y
Gross search revenue was $3.612B for the full year of 2015, an increase of 7% compared to the prior year.
16:45 EDTYHOOYahoo reports Q4 number of ads sold up 8% y/y
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16:43 EDTYHOOYahoo reports Q4 GAAP display revenue $601M, up 13% y/y
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16:43 EDTYHOOYahoo falls after earnings and outlook
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16:42 EDTYHOOYahoo reports Q4 number of paid clicks down 10% y/y
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16:40 EDTYHOOYahoo to consolidate some Digital Magazines
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16:39 EDTYHOOYahoo to continue to invest in Mavens strategy
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16:39 EDTYHOOYahoo to simplify product portfolio
Yahoo has grown into a guide to digital information discovery for more than one billion monthly active users. In 2016, the Company will prioritize growing engagement with its enormous user base. Yahoo will simplify its product portfolio to emphasize the products that distinguish the Company competitively and drive the most substantial portion of users, revenue, and market opportunity. This focus will increase the pace of innovation and product improvement, deliver a more deeply integrated Yahoo experience and more quickly grow key metrics such as page views, logged in users, and DAUs. For consumer products, Yahoo will consist of three global platforms: Search, Mail, and Tumblr, and four verticals: News, Sports, Finance and Lifestyle in growth markets like the U.S., Canada, U.K., Germany, Hong Kong, and Taiwan. For advertisers, Yahoo will be defined by two core offerings: Gemini and BrightRoll. Gemini combines search and native ads for superior results, while BrightRoll offers programmatic buying and selling tools for video, display and native advertising. For Yahoo's search business, mobile search is the biggest opportunity. The Company will shift most of the resources in this area toward more forward-leaning mobile search investments, positioning it to redefine search for mobile devices, which will help drive sustainable long-term growth and differentiation. Yahoo Mail is the heart of the Company's communications products. To continue to grow DAUs and increase engagement, investment in Yahoo Mail will be used to improve speed and stability, as well as add features that make it easier for users to share, search and connect through the platform. As an essential driver of the Company's entire product portfolio, focused investment in Yahoo Mail will help accelerate growth across the business. For the Tumblr platform and Yahoo's digital content strongholds of News, Sports, Finance, and Lifestyle, investment will be focused on growing user engagement, especially on mobile. The Company will invest in features and experiences that engage users as both consumers and creators of content, encouraging them to do more with, and therefore spend more time on, the Yahoo network.
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