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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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December 18, 2014
13:48 EDTTRLA, ZZillow, Trulia shareholders approve planned merger
Zillow (Z) and Trulia (TRLA) announced that Zillow shareholders and Trulia stockholders voted resoundingly to approve the previously announced definitive agreement, dated as of July 28, pursuant to which Zillow will acquire Trulia. At special meetings held earlier, approximately 88.75% of Zillow votes outstanding and entitled to be voted, and 79.52% of Trulia votes outstanding and entitled to be voted, were voted in favor of the agreement. Zillow shareholders and Trulia stockholders also voted to approve the authorization of nonvoting Class C capital stock in the combined company's amended and restated articles of incorporation. The companies anticipate that the transaction will be completed in the first half of 2015.
December 17, 2014
15:53 EDTTRLA, ZTrulia to host special shareholder meeting
Special shareholder meeting to approve the merger agreement with Zillow will be held in Seattle, Washington on December 18 at 11 am.
15:49 EDTTRLA, ZZillow to host special shareholder meeting
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