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Stock Market & Financial Investment News

News Breaks
July 18, 2014
12:48 EDTRP, LEDR, Z, TRLA, MOVERealPage tumbles after reporting preliminary Q2 revenue miss
Shares of RealPage, a provider of on demand software solutions for the rental housing industry, are tumbling after the company reported preliminary second quarter revenue which fell below analysts' consensus. WHAT'S NEW: RealPage yesterday reported preliminary Q2 non-GAAP revenue of $93.8M-$94.8M, which is below analysts' consensus of $107.19M. The company reported preliminary Q2 adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, of $11.5M-$12.5M. WHAT'S NOTABLE: The company cited its lower Q2 revenue being due to lower than expected revenue from products and services related to leasing activity. The company believes owners are spending less in marketing and advertising due to low vacancy and resident turnover rates. In addition, RealPage said revenue related to its renter's insurance solutions declined "significantly." The company said it intends to stay the course on its sales expansion investments and "complete the rollout of the richest product development backlog in our history." During its Q2 earnings conference call, the company said it will provide details on its action plan, and will address certain actions that are underway to restructure or eliminate cost that it expects will enable margin expansion over the long-term. ANALYST REACION: JMP Securities downgraded RealPage to Market Perform from Outperform following the company's Q2 results which the firm found "very disappointing." William Blair analyst Brandon Dobell downgraded shares of Realpage citing the preliminary Q2 revenue and EBITDA miss. Dobell lowered the company's 2014 EPS estimate to 38c from 67c and revenue estimate to $388M from $434.5M. This also moved the firm's FY15 EPS estimate to 57c from 79c and its FY15 revenue estimate to $416M from $500M. PRICE ACTION: During afternoon trading, shares of RealPage fell $4.69 or 21.9% to $16.72. OTHERS TO WATCH: Other firms providing solutions for the real estate industry include Market Leader (LEDR), Zillow (Z), Trulia (TRLA), and Move (MOVE).
News For RP;LEDR;Z;TRLA;MOVE From The Last 14 Days
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October 29, 2014
16:14 EDTTRLATrulia total subscribers as of September 30 were 77,900
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16:12 EDTTRLATrulia Q3 mobile monthly unique visitors 29.9M
Q3 mobile monthly unique visitors in the third quarter of 2014 were 29.9M, an increase of 89% from 15.8M in the same period last year.
16:11 EDTTRLATrulia Q3 monthly unique visitors 55M
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16:10 EDTZ, TRLATrulia not providing Q4 outlook for revenue, EBITDA due to Zillow transaction
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16:08 EDTTRLATrulia reports Q3 EPS (8c), consensus (8c)
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15:53 EDTTRLANotable companies reporting after market close
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07:28 EDTZZillow November weekly volatility elevated into Q3 and outlook
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October 23, 2014
18:29 EDTRPRealPage draws interest from prospective buyers, FT reports
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16:44 EDTMOVEGabelli reports 6.5% stake in Move, Inc.
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October 22, 2014
13:51 EDTTRLATrulia November volatility elevated into Q3 and outlook
Trulia November call option implied volatility is at 76, December is at 69, January is at 63, March is at 58, June is at 52; compared to its 26-week average of 53 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 29.
09:06 EDTMOVEMove, Inc., NALMLS announce license agreement for realtor.com
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October 20, 2014
07:24 EDTZZillow November weekly volatility elevated into Q3 and outlook
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