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News Breaks
May 29, 2014
18:40 EDTSPLK, CRM, AVGO, LGF, BNNY, RTRX, VEEV, EXPR, BLOX, NMBL, OVTI, GLUUOn The Fly: After Hours Movers
UP AFTER EARNINGS: OmniVision (OVTI), up 17.9% after reporting better than expected fourth quarter results and first quarter guidance above expectations... Veeva Systems (VEEV), up 6.2%... Avago (AVGO), up 1.5% after reporting quarterly results... Nimble Storage (NMBL), up 3.76%... ALSO HIGHER: Retrophin (RTRX), up 29.27% following license agreement with Mission Pharmacal for Thiola and revised guidance... salesforce.com (CRM), up 1.75% after announcing global strategic partnership with Microsoft (MSFT). DOWN AFTER EARNINGS: Infoblox (BLOX), down 28.12% after guiding below analyst estimates for fourth quarter and announcing that CEO Robert Thomas is stepping down... Annies (BNNY), down 16.86%... Splunk (SPLK), down 9.15%... Express (EXPR), down 10.27% after reporting quarterly results and announcing that it will close 50 stores over the next 36 months... Lions Gate (LGF), down 5.99%. ALSO LOWER: Glu Mobile (GLUU), down 7.4%.
News For OVTI;VEEV;AVGO;NMBL;RTRX;CRM;BLOX;BNNY;SPLK;EXPR;LGF;GLUU From The Last 14 Days
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February 3, 2016
16:15 EDTGLUUGlu Mobile partners with Taylor Swift on new mobile game
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16:14 EDTGLUUGlu Mobile sees Q1 revenue $46M-$48M, consensus $55.62M
Sees Q1 non-GAAP gross margin approximately 59.9%. Sees Q1 EPS (5c)-(6c), consensus (4c).
16:13 EDTGLUUGlu Mobile reports Q4 EPS 2c, consensus (3c)
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15:50 EDTLGFLionsgate restarts talks with Starz on possible acquisition, Bloomberg reports
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09:01 EDTSPLKSplunk initiated with a Buy at Maxim
Maxim analyst Nehal Chokshi started Splunk with a Buy rating and $67 price target.
08:42 EDTCRMSalesforce should be bought at current levels, says JMP Securities
JMP Securities says its checks indicate that Salesforce had a strong Q4, leaving the company poised to deliver strong fiscal 2017 results. The firm adds that the promotion of Keith Block, who headed all customer-facing activities, to COO suggests that the company's business momentum is strong. It keeps a $90 price target and Outperform rating.
08:09 EDTCRMSalesforce shares will eventually reflect top tier position, says Canaccord
Canaccord said Salesforce remains a top tier company and its shares will eventually reflect it with a much higher stock price. The firm continues to believe the company can grow revenues more than 20% and earnings more than 25% per year. Canaccord reiterated its Buy rating and $95 price target on Salesforce shares.
February 2, 2016
18:22 EDTAVGOBroadcom Limited assumed with a Buy at Goldman
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16:52 EDTCRMSalesforce announces new core Salesforce editions for Sales Cloud, Service Cloud
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14:28 EDTCRMSpeculation of Salesforce customer loss likely inaccurate, says JPMorgan
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14:14 EDTCRMSalesforce shares defended at JPMorgan
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09:46 EDTCRMSalesforce puts active amid speculation of a potential customer loss
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09:41 EDTCRMRumor: Salesforce active amid speculation of a potential customer loss
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09:02 EDTCRMSalesforce names Keith Block as COO
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08:06 EDTLGFLionsgate risk/reward attractive, says Bernstein
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05:36 EDTAVGOBroadcom Limited reinstated with an Overweight at Barclays
Barclays analyst Blayne Curtis reinstated Broadcom Limited with an Overweight rating and $170 price target. The analyst calls Broadcom on of his best ideas given its "unique combination of secular growth and best in class profitability."
February 1, 2016
16:13 EDTNMBLNimble Storage surpasses 7,500 customers worldwide
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13:42 EDTCRMEarnings Watch: Alphabet to report Q4 results under new corporate structure
Alphabet (GOOG, GOOGL) is expected to report fourth quarter earnings after the market close on Monday, February 1 with a conference call scheduled for 4:30 pm ET. Alphabet is a multinational conglomerate that serves as the parent company of Google, Calico, GV, Google Capital, and Nest Labs. EXPECTATIONS: Analysts are looking for earnings per share of $8.09 on revenue of $20.77B. The consensus range is $7.32-$8.59 for EPS, and $20.33B-$21.68B for revenue, according to First Call. LAST QUARTER: Alphabet reported third quarter EPS of $7.35 against estimates of $7.21, on revenue of $18.7B against estimates of $18.53B. Google reported Q3 aggregate paid clicks up 23%, paid clicks on Google websites down 5%, aggregate cost-per-clicks down 11%, and cost-per-click on Google websites down 4%. The company also reported Q3 Sites revenue up 16% to $13.08B and Q3 Total advertising revenue up 13% to $26.78B. During its Q3 earnings report, the company said it will begin to disclose the Google business as a single segment in Q4. It also announced that the board authorized the company to repurchase $5.1B of Class C shares in Q4. GOOGLE SEGMENT: Alphabet announced that it will report Google as a single segment within its company beginning in Q4. It stated, "The new operating structure is being introduced in phases. For financial reporting purposes, we expect the reorganization will result in disclosing our Google business as a single segment and all other Alphabet businesses combined as Other Bets beginning in the fourth quarter of 2015." Within Alphabet, the Google segment now has 6 products with over 1B users, including Search, Maps, YouTube, Chrome, Android and Google Play. Gmail is also closing in on the mark with its 900M user base. RBC Capital believes that the disclosure of segment results by Google in conjunction with its Q4 results will cause the stock to rerate. The firm believes that the segment results will highlight the high profits of core Google, supporting an increase in the stocks' sum of the parts valuation. NEWS AND STREET RESEARCH: In the past quarter, Alphabet had a strong holiday season with ChannelAdvisor reporting Google Shopping was up 31.7% over the entire holiday period. Specifically, Google Shopping was up 35.9% on Thanksgiving, up 40.3% on Black Friday, up 25.7% on Cyber Saturday, and up 18.6% on Cyber Monday. Alphabet announced the redesigned launch of Google+ in November, the exploration of Fiber in Chicago and Los Angeles, and announced plans to open its first retail store in New York City. The company also targets the China launch of the Google Play app store in 2016, according to multiple reports. Lenovo (LNVGY) CEO Chen Xudong confirmed that Google Play is expected to come to China at some point this year. The company is expected to make its self-driving car company under the Alphabet structure as a stand-alone business. Ford (F) and Google are in discussions over self-driving cars, with the currently negotiated contract likely to "last a long time." According to a Reuters report, Google expects fewer software failiures in self-driving cars as it learns from its mistakes. Google tested solar-powered Internet drones and expects consumer package delivery via drone to begin in 2017. Google is also in talks with the NFL for streaming rights for London games next year. STREET RESEARCH: Oppenheimer said cloud providers like Alphabet may have a huge opportunity in the coming years. The firm said Alphabet may look for a major partner like Salesforce (CRM) to drive its cloud business. Cantor said Google ad revenue growth should continue to be strong and BMO Capital said Alphabet's outlook has improved as valuation has become more reasonable. Bernstein said the Street continues to underestimate the resilience and growth potential of Alphabet's search ad business and YouTube. Barron's, in particular, was extremely positive on YouTube, saying its revenue per viewer could potentially double in five years. It added it could be twice as valuable as Netflix (NFLX). JMP Securities was also bullish on the company, saying Alphabet benefitted from a relatively strong holiday season for online advertising. Ahead of its Q4 earnings report, JMP Securities expects the company to report "relatively strong" results. PRICE ACTION: Google shares have gained about 6% over the last three months. In Monday afternoon trading ahead of the Q4 report, Google shares are up almost 2%
09:47 EDTAVGOBroadcom Limited initiated with a Buy at Deutsche Bank
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08:08 EDTCRMSalesforce to hold a company event
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