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News Breaks
June 20, 2014
12:54 EDTMOVEMove, Inc. confirms DDoS attack, ransom demand
Move, Inc. reported last night that it is continuing to combat the distributed denial of service, or DDoS, attack that has interrupted its websites' operations since it began mid-day June 17. In connection with the attack, Move received a ransom demand, which it did not respond to. Move's technical team is working with the Prolexic division of Akamai Technologies, (AKAM), other Internet security experts and its network service providers to mitigate the attack and quickly restore operations, the company said. Move is consulting with appropriate federal law enforcement officials and other technology companies that have been targets of DDoS attacks in recent months to review best practices for responding and law enforcement is working to determine the attack's origin, the company added.
News For MOVE From The Last 14 Days
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July 30, 2014
08:15 EDTMOVEMove, Inc. may be pressured by Q2 miss, says Stephens
Stephens remains a buyer of Move, Inc. shares citing the company's accelerating growth, discount to peers and potential momentum into FY15, but believes the stock could be pressured by the company's Q2 miss and lower than expected Q3 guidance. The firm reiterates its Overweight rating and $21 price target on the stock.
July 29, 2014
18:35 EDTMOVEOn The Fly: After Hours Movers
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16:38 EDTMOVEMove, Inc. sees FY14 revenue about $252M-$254M, consensus $254.85M
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16:37 EDTMOVEMove, Inc. sees Q3 revenue approximately $65M, consensus $67.91M
Expects to report Q3 Adjusted EBITDA of approximately $4.5M.
16:36 EDTMOVEMove, Inc. reports Q2 EPS (3c), consensus (2c)
Reports Q2 revenue $61.3M, consensus $61.92M.
07:25 EDTMOVEMove, Inc. valuation compelling, says B. Riley
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July 28, 2014
11:00 EDTMOVEZillow slips, Trulia rises after real estate info companies merge
Real estate website operator Zillow (Z) agreed to buy its rival, Trulia (TRLA), in a $3.5B, all-stock deal, the companies announced today. Zillow is retreating on the news, while Trulia is climbing. Reports about the deal first surfaced last week. WHAT'S NEW: Earlier today, Zillow confirmed it struck a deal to acquire Trulia for about $3.5B of Zillow stock. Under the deal, which is expected to close in 2015, Trulia shareholders will receive 0.444 shares of Zillow for each share of Trulia that they hold. The value of the deal represents a premium of 25% to Trulia’s closing price on July 25, according to the companies. Zillow CEO Spencer Rascoff said on the conference call associated with the deal that Zillow and Trulia will continue to operate as separate brands after deal, noting that the brands are complementary though there is limited overlap between their unique users. Rascoff said the combination will allow for faster innovation, better access to free data for consumers, and broader distribution to partner companies and that the companies expect at least $100M in cost savings synergies by 2016 from the deal. WHAT'S NOTABLE: On July 24, Bloomberg reported that Zillow was holding talks about buying Trulia. On July 25, The Fly noted that Deutsche Bank had called the report credible. ANALYST TAKE: In a note to investors before the deal was announced, Daniel Kurnos, an analyst at research firm Benchmark, wrote that Zillow and Trulia would be dominant in the online real estate market following a merger between them. The combined company could be worth at least $210 per share, wrote the analyst. PRICE ACTION: In mid-morning trading, Zillow dropped 4.6% to $151.50 and Trulia gained 10.3% to $62.17. Another company in the sector, Move Inc. (MOVE), rose 5.8% to $14.95.
08:40 EDTMOVEMove, Inc. up 4% to $14.70 after Zillow buys Trulia
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07:38 EDTMOVEZillow could be worth $210/share after Trulia merger, says Benchmark Co.
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July 18, 2014
12:48 EDTMOVERealPage tumbles after reporting preliminary Q2 revenue miss
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