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Stock Market & Financial Investment News

News Breaks
July 18, 2014
12:48 EDTMOVE, LEDR, TRLA, RP, ZRealPage 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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November 20, 2014
07:24 EDTZGoldman to hold a conference
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November 19, 2014
12:40 EDTZZillow volatility low as shares rally on positive mention at Sohn London
Zillow December call option implied volatility is at 49, January is at 48; compared to its 26-week average of 55 according to Track Data, suggesting decreasing price movement after positive mention at Sohn London conference .
09:17 EDTZZillow jumps 5% after positive mention at Sohn London conference
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09:16 EDTZMessara says Zillow shares could reach $770, Bloomberg reports
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November 17, 2014
15:43 EDTMOVEGabelli liquidates stake in Move, Inc.
Gabelli's most recent stake, as reported on November 3, was 8.84%. As a result of the completion of the acquisition of the company by News Corp. (NWSA), Gabelli no longer has beneficial ownership of any of its shares.
14:13 EDTZZillow's Agentfolio to shut down
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November 14, 2014
08:29 EDTMOVENews Corp completes acquisition of Move, Inc
News Corp announced that it has successfully completed its acquisition of Move, Inc. Move is a provider of online real estate services and operates a network of sites, including realtor.com, the official website for the National Association of Realtors. The previously announced tender offer by a subsidiary of News Corp for all of the outstanding shares of Move common stock at a price of $21.00 per share expired as scheduled at the end of the day, 12:00 midnight, New York City time, on November 13, 2014. Excluding shares tendered by notice of guaranteed delivery, a total of approximately 34,299,586 shares were validly tendered into and not withdrawn from the tender offer, representing, together with the shares owned by News Corp and its subsidiaries, approximately 83.1% of Move’s outstanding shares. As a result, News Corp, through its subsidiary, has accepted for payment and will promptly pay for all such validly tendered shares pursuant to the terms of the tender offer. Following its acceptance of the tendered shares, News Corp completed the acquisition by causing the merger of its subsidiary with and into Move without a vote of Move’s stockholders, pursuant to Section 251(h) of the Delaware General Corporation Law. Upon completion of the merger, Move became an indirect, wholly-owned subsidiary of News Corp. As a result of the merger and in accordance with the terms of the merger agreement, all eligible Move shares not tendered into the tender offer were cancelled and converted into the right to receive $21.00 per share in cash, without interest and less any applicable withholding taxes, the same price per share offered in the tender offer. As a result of the acquisition, Move shares ceased to be traded on the NASDAQ Stock Market. REA Group Limited, in which News Corp owns a 61.6% interest, has entered into a definitive agreement with News Corp to acquire a 20% stake in Move. The transaction is expected to be completed on November 17.
November 13, 2014
14:50 EDTMOVELonestar Capital to shut down by mid-2015, WSJ reports
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14:45 EDTMOVELonestar capital to shut down, DJ reports
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07:38 EDTZBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
November 12, 2014
08:06 EDTZPacific Crest to hold a conference
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November 10, 2014
07:11 EDTTRLAOpen Mobile Media to hold a summit
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