New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 25, 2014
04:55 EDTMOVE, MOVEMove, Inc. management to meet with Oppenheimer
Meeting to be held in the Southeast on July 1 hosted by Oppenheimer.
News For MOVE From The Last 14 Days
Check below for free stories on MOVE the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
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
Subscribe for More Information
07:38 EDTMOVEZillow could be worth $210/share after Trulia merger, says Benchmark Co.
Subscribe for More Information
July 18, 2014
12:48 EDTMOVERealPage tumbles after reporting preliminary Q2 revenue miss
Subscribe for More Information
July 16, 2014
09:32 EDTMOVEMove, Inc. mentioned positively at Craig-Hallum
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use