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Stock Market & Financial Investment News

News Breaks
July 18, 2014
12:48 EDTZ, MOVE, LEDR, TRLA, RPRealPage 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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February 26, 2015
16:32 EDTRPRealPage sees 2015 EPS 41c-45c, consensus 48c
Sees 2015 revenue $450M-$460M, consensus $443.6M.
16:31 EDTRPRealPage sees Q1 EPS 9c-10c, consensus 10c
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16:31 EDTRPRealPage reports Q4 EPS 9c, consensus 8c
Reports Q4 revenue $104.2M, consensus $103.96M.
12:29 EDTZZillow Group management to meet with JMP Securities
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07:14 EDTZZillow Group reinstated with a Buy at Goldman
Goldman reinstated Zillow with a Buy and $155 price target. The firm believes the U.S. real estate market ins in the early stages of a major technology and demographic shift where Zillow is increasingly controlling the customer through the cycle of home ownership and can expand its addressable market to $70B+ in commissions and adjacent categories from the $9B in real estate marketing.
February 24, 2015
15:15 EDTZZillow granted temporary order to keep ListHub listings on Trulia, Inman reports
Zillow Group (Z) has been granted a temporary restraining order to continue receiving listings from ListHub, which is owned by a News Corp. (NWSA) subsidiary, reported real estate industry publication Inman, citing a statement from Trulia president Paul Levine. In a statement, ListHub owner Move Inc. said, “We look forward to another ‘liberating moment’ for Zillow on March 12, when we will have the opportunity to make our full case in court. In the meantime, we are happy to continue supplying the industry’s best data.” Reference Link
10:00 EDTZOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMC Networks (AMCX) downgraded to Neutral from Outperform at Macquarie... American Airlines (AAL) downgraded to Market Perform at Cowen... Armstrong World (AWI) downgraded to Hold from Buy at KeyBanc... Basic Energy (BAS) downgraded to Outperform from Strong Buy at Raymond James... CSC (CSC) downgraded at Stifel... Chevron (CVX) downgraded to Perform from Outperform at Oppenheimer... Choice Hotels (CHH) downgraded to Underweight from Equal Weight at Barclays... Eni SpA (E) downgraded to Underperform from Hold at Jefferies... Fifth Street Asset (FSAM) downgraded to Neutral from Outperform at Credit Suisse... HSBC (HSBC) downgraded to Neutral from Buy at UBS... Home Loan Servicing (HLSS) downgraded to Neutral from Overweight at Piper Jaffray... Huntington Ingalls (HII) downgraded to Underperform from Neutral at Credit Suisse... International Paper (IP) downgraded to Hold from Buy at Deutsche Bank... Kayne Anderson (KED) downgraded at Stifel... Landstar System (LSTR) downgraded to Hold from Buy at Deutsche Bank... Multi-Color (LABL) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Newmont Mining (NEM) downgraded to Neutral from Overweight at HSBC... ONEOK Partners (OKS) downgraded to Underweight from Neutral at JPMorgan... ONEOK (OKE) downgraded to Underweight from Neutral at JPMorgan... Olympic Steel (ZEUS) downgraded to Underperform from Neutral at Credit Suisse... Polypore (PPO) downgraded to Market Perform from Outperform at William Blair... Rosetta Resources (ROSE) downgraded to Equal Weight from Overweight at Stephens... Salix (SLXP) downgraded to Neutral from Buy at UBS... Sprint (S) downgraded to Sell from Neutral at BTIG... St. Jude Medical (STJ) downgraded to Underperform from Outperform at Credit Suisse... Timmins Gold (TGD) downgraded on lack of near-term production catalysts at RBC Capital... Transocean Partners (RIGP) downgraded to Underweight from Equal Weight at Barclays... Vodafone (VOD) downgraded to Underperform from Neutral at BofA/Merrill... Williams Partners (WPZ) downgraded to Neutral from Buy at Citigroup... Williams (WMB) downgraded to Neutral from Buy at Citigroup... Worthington (WOR) downgraded to Neutral from Outperform at Credit Suisse... Zillow Group (Z) downgraded at Macquarie.
08:16 EDTZZillow Group downgraded at Macquarie
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07:28 EDTZZillow Group downgraded to Neutral from Outperform at Macquarie
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February 23, 2015
09:52 EDTZTrulia could lose 40% of listings if lawsuit fails, says Deutsche Bank
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February 20, 2015
14:36 EDTZZillow sues to maintain ListHub listings on Trulia, GeekWire reports
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