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Stock Market & Financial Investment News

News Breaks
June 2, 2014
10:41 EDTDYN, GCI, RMBS, EXH, RNG, TA, IMUC, MWWHigh option volume stocks
High option volume stocks: MWW RNG VGK GCI IMUC EXH DYN TA GREK RMBS
News For MWW;RNG;GCI;IMUC;EXH;DYN;TA;RMBS From The Last 14 Days
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February 12, 2016
16:33 EDTGCIJournal Media Group's merger with Gannett recommended by proxy advisory firm
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05:53 EDTMWWMonster Worldwide removed from Focus List at B. Riley
B. Riley analyst Kara Anderson lowered her price target for Monster Worldwide to $3.50 from $9 and removed the stock from her firm's Focus List following the company's Q4 results. She keeps a Buy rating on the name.
February 11, 2016
13:20 EDTMWWMonster Worldwide plunges after Q4 sales fall short of estimates
Shares of Monster Worldwide (MWW) plunged after the company reported sales for the fourth quarter that fell below analysts' consensus estimates. The company also provided guidance for the first quarter that was lower than analysts expected. WHAT'S NEW: Before the market open, Monster Worldwide reported Q4 adjusted earnings per share of 12c, in line with analysts' consensus estimates, on revenue of $159.2M, which fell short of analysts' $166.94M consensus. Monster had previously forecast Q4 EPS of 10c-14c, excluding the impact of the JobKorea transaction. Revenue from the Careers-North America division was down 8% year over year in Q4 to $112.1M, the company said. Looking ahead, Monster's Q1 outlook was also below analysts' estimates. Monster said it expects adjusted EPS of 6c-10c, below the consensus of 13c, and cash EBITDA of $85M-$100M for FY16. CEO COMMENTARY: Commenting on the results, Monster Worldwide chief executive officer Tim Yates said that the company underperformed in North America in its transactional business due to "competitive pressures and seasonality." Yates added that the company has "implemented a number of actions" in order to improve its performance moving forward. WHAT'S NOTABLE: Separately, Monster Worldwide said that its Monster Social Job Ads, the company's programmatic social recruitment advertising platform, was extending its reach beyond Twitter (TWTR) to distribute job ads on Facebook (FB). STREET RESEARCH: After the earnings report, FBR Capital analysts Marvin Fong and William Bird downgraded Monster Worldwide to Market Perform from Outperform and lowered their price target on the shares to $3.50 from $8, citing employment market volatility, structural headwinds and the "still-small and nascent stage" of new growth initiatives. The analysts said that the company's outlook for Q1 and FY16 is materially below the Street, particularly the FY16 EBITDA guidance, which is 30% below estimates at the midpoint. Fong and Bird added that a choppy job market and execution risk are reasons to be more cautious on the stock. In addition, the analysts said that bookings have become a less reliable indicator of future sales growth and that pricing pressure and increased competition at the 1-to-49 employee category seems to be intensifying. PRICE ACTION: In afternoon trading, Monster Worldwide dropped 33.8% to $2.82. Shares are down over 48.5% over the last 12 months.
12:27 EDTMWWOn The Fly: Top stock stories at midday
U.S. stocks are having another awful session as markets around the world continue to slide. The culprits are many: the prospects of slower global growth, the diminished power of central banks to prop up the markets, lower oil prices, renewed concern over the European banking system and the deleterious effect of negative interest rates are all being pointed to as contributors. Adding another dagger to the Dow is the slide in Boeing (BA), which is down nearly 10% following a report that the SEC is looking into its accounting practices. The Dow is leading the market lower with losses of about 2%, but the Nasdaq and S&P are sharply lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 269,000 last week, versus expectations for 280,000 first-time claims. Federal Reserve Chair Janet Yellen is back on Capitol Hill this morning, this time in front of the Senate after giving testimony yesterday to members of the House of Representatives. In her testimony yesterday, Yellen said she was not certain whether she had the legal authority to cut rates into negative territory. However, other central banks around the world have recently been doing just that, with Sweden's Riksbank the latest. Sweden's central bank surprised analysts by cutting its main repo rate to minus 0.5% from minus 0.35%. In Asia, Hong Kong markets re-opened after being closed in the first three days of the week for the New Year holiday and closed deeply in the red, catching up with recent global stock weakness. COMPANY NEWS: Shares of Cisco (CSCO) advanced 9% after the company beat expectations for both sales and earnings, raised its dividend by 24% and approved a $15B increase to its stock repurchase program. The stock was virtually the only bright spot for the Dow, which saw almost every other bluechip member slide, led by laggard Boeing after Bloomberg said the SEC may investigate its accounting and projections for its 787 Dreamliner and the 747 programs... The shares of Twitter (TWTR) are falling and hit a new 52-week low earlier in the session after the company reported that its user base was flat last quarter. Research firm Pacific Crest responded to the news by downgrading the stock, with analyst Evan Wilson saying the stock may fall to as low as $11 per share as the "hope trade" ends... Tesla (TSLA) unexpectedly reported sharp losses for its fourth quarter, but its stock rallied 7% after the electric carmaker also projected that it will deliver 80,000-90,000 vehicles in 2016. MAJOR MOVERS: Among the noteworthy gainers was Expedia (EXPE), which rallied 10% following the company's Q4 earnings report. Also higher were j2 Global (JCOM) and TripAdvisor (TRIP), which gained 16% and 17.5%, respectively, after reporting quarterly earnings. Among the notable losers was Mylan (MYL), which fell 18% after it reported quarterly earnings and announced it would buy Meda Aktiebolag for $9.9B. Also lower were Incyte (INCY), which fell 18.5% after the company reported earnings and said it was discontinuing studies of ruxolitinib for pancreatic cancer. Avon Products (AVP) and Monster Worldwide (MWW), slid 14% and 31%, respectively, after their own quarterly reports. INDEXES: Near midday, the Dow was down 351.43, or 2.21%, to 15,563.31, the Nasdaq was down 54.49, or 1.27%, to 4,229.10, and the S&P 500 was down 33.49, or 1.81%, to 1,818.37.
09:51 EDTMWWMonster Worldwide downgraded to Market Perform from Outperform at FBR Capital
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07:36 EDTMWWMonster announces expansion of Monster Social Job Ads to Facebook
Monster (MWW) announced that Monster Social Job Ads is now able to identify and serve recruitment advertising to both passive and active qualified job candidates across Facebook (FB), in addition to Twitter (TWTR). This integration of programmatic job advertising on Facebook uses exclusive professional information. Monster Social Job Ads provides immediate and automated distribution of job advertising to skilled candidates across the full Twitter and Facebook audiences, using unprecedented targeting technology, aggregating career-specific data from more than 100 social sources and Monster's expansive resume database.
07:35 EDTMWWMonster Worldwide sees annual cash EBITDA $85M-$100M
07:34 EDTMWWMonster Worldwide sees Q1 non-GAAP EPS 6c-10c, consensus 13c
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07:34 EDTMWWMonster Worldwide announces entry into JV with kununu GmbH
Monster announced its entry into a joint venture with kununu GmbH, a subsidiary of XING AG. kununu provides employer transparency through ratings, reviews and employer branding. Initially focused on the US market, this joint venture will test the delivery of content-rich employer reviews and ratings sourced from current and former employees and candidates. This information is designed to help better inform consumers about the companies they might work for, and provides several new tools for employers to better manage their talent brands and engage prospective candidates, including sellable branding and brand management products.
07:33 EDTMWWMonster Worldwide reports Q4 non-GAAP EPS 12c, consensus 12c
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February 10, 2016
09:18 EDTMWWMonster Worldwide volatility elevated into Q4 and outlook
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February 9, 2016
18:50 EDTGCIGabelli to vote against Journal Media merger, disagrees with ISS recommendation
In a regulatory filing detailing a 15.63% stake in Journal Media Group (JMG), Gabelli noted it has reviewed the report by proxy advisory firm ISS regarding Journal's proposed merger with Gannett (GCI), and intends to vote against the merger plan for those shares over which it has voting authority. Journal Media's "refusal to disclose its real estate asset valuations, beyond the $5.4M 'excess real estate value' for real estate not used in core operations, is what is truly misleading to shareholders," Gabelli claimed.
11:50 EDTGCIGannett examining parcel-delivery business, WSJ reports
Gannett (GCI) is examining the parcel-delivery business and has reached out to consultants in the parcel industry as early as December, The Wall Street Journal reports, citing sources. According to one source, Gannett also held preliminary talks with Amazon (AMZN) as it considers delivery possibilities. The report notes that Tribute Publishing (TPUB) abandoned a similar idea after briefly testing package delivery with Amazon in the fall. Reference Link
08:08 EDTGCIJournal Media Group says ISS recommends investors vote for merger with Gannett
Journal Media Group (JMG) announced that Institutional Shareholder Services has recommended that Journal Media Group shareholders vote "FOR" the proposed merger between Journal Media Group and Gannett (GCI). ISS stated in its February 8, 2016 report: "A vote FOR this transaction is warranted given the substantial premium, the strength of the sales process, the fact that no superior offers have emerged despite the reasonable breakup fee, and the apparently material downside risks..." The transaction and other matters will be considered at a special meeting for Journal Media Group shareholders on March 1, 2016, at 10 a.m. at Journal Media Group's headquarters at 333 W. State St., Milwaukee, Wisconsin. Journal Media Group shareholders of record as of the close of business on January 21, 2016, are entitled to vote at the special meeting either in person or by proxy. The parties currently expect to complete the proposed transaction promptly following approval by Journal Media Group shareholders and the expiration or termination of the Hart-Scott-Rodino waiting period.
February 5, 2016
07:15 EDTRNGRingCentral should be bought on weakness, says Oppenheimer
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February 4, 2016
17:44 EDTRNGRingCentral sees FY16 adjusted EPS 1c-5c, consensus 3c
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17:44 EDTRNGRingCentral sees Q1 adjusted EPS 0c plus or minus 1c, consensus (1c)
Sees Q1 revenue $79.5M-$82.5M, consensus $83.19M. Sees software subscription revenue up 29%-31% to $77.5M-$78.5M.
16:23 EDTRNGRingCentral reports recurring software subscriptions up 34% y/y
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16:22 EDTRNGRingCentral reports Q4 adjusted EPS 1c, consensus 0c
Reports Q4 revenue $83.4M, consensus $80.86M.
January 29, 2016
10:05 EDTDYNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Equity (AEL) initiated with an Outperform at RBC Capital... Calpine (CPN) initiated with a Buy at Guggenheim... Diamondback Energy (FANG) initiated with an Outperform at BMO Capital... Dynegy (DYN) initiated with a Neutral at Guggenheim... ICF International (ICFI) initiated with a Market Perform at Barrington... Juno Therapeutics (JUNO) initiated with a Buy at SunTrust... Kite Pharma (KITE) initiated with a Buy at SunTrust... Match Group (MTCH) initiated with a Neutral at Susquehanna... Medifast (MED) initiated with a Hold at Wunderlich... NRG Energy (NRG) initiated with a Buy at Guggenheim... NRG Yield (NYLD) initiated with a Neutral at Guggenheim... Nutrisystem (NTRI) initiated with a Buy at Wunderlich... Parsley Energy (PE) initiated with an Outperform at BMO Capital... Precision Drilling (PDS) initiated with a Hold at Canaccord... RSP Permian (RSPP) initiated with an Outperform at BMO Capital... Taylor Morrison (TMHC) initiated with a Neutral at Citi... Tortoise North American Energy (TYN) initiated with a Neutral at Guggenheim... WisdomTree (WETF) initiated with a Neutral at Northcoast.

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