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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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August 4, 2015
12:29 EDTZOptions with increasing volume
Options with increasing volume: BXLT WTW ALL ETFC XOM SUNE CCE Z AAC WWE
12:25 EDTZZillow Group volatility elevated into Q2 and outlook
Zillow Group August weekly call option implied volatility is at 154, August is at 79, September is at 59; compared to its 52-week range of 33 to 68, suggesting large near term price movement into the expected release of Q2 results on August 4.
August 3, 2015
16:25 EDTZZillow Group promotes COO Kathleen Philips to CFO, names Amy Bohutinsky COO
Zillow announces two key executive promotions. Kathleen Philips, who has been the company's COO since 2013, has been named CFO, Zillow Group. Amy Bohutinsky, who has been Chief Marketing Officer since 2011, has been promoted to COO, Zillow Group.
11:52 EDTZCitron says Yelp selloff looks 'a bit overdone'
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July 31, 2015
10:02 EDTZOn The Fly: Analyst Downgrade Summary
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06:13 EDTZZillow Group downgraded to Underperform from Market Perform at Cowen
Cowen downgraded Zillow Group to Underperform and lowered its price target to $60 from $90 following the Q2 report. The firm is concerned by decelerating subs growth, slowing Unique Visitors growth at Trulia, high 2016 consensus expectations, and stretched valuation.
July 24, 2015
10:58 EDTZZillow Group predicted to 'crack $40 within a year' by Citron Research
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July 22, 2015
16:12 EDTZZillow Group to acquire DotLoop
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July 21, 2015
16:13 EDTZZillow Group board approves creation of Class C shares
Zillow Group announced its board has unanimously approved a stock dividend of non-voting Class C capital stock. On August 14, all shareholders of record of Zillow Group's Class A and Class B common stock as of July 31, the record date of the dividend, will receive a dividend of two shares of Class C capital stock for each share of Class A and Class B common stock held by them as of the record date. The issuance of Class C capital stock is an extension of Zillow Group's dual-class structure, whereby Zillow Group's co-founders Rich Barton and Lloyd Frink hold Class B shares. "The Class C dividend enables the company to continue its focus on long-term growth and innovation, while maintaining the flexibility to issue additional stock for strategic business decisions and to retain and attract the best employees," it stated. Application to the Nasdaq has been made to list the Class C capital stock. Following the issuance date of the dividend, Zillow Group expects the Class C capital stock will trade under the ticker symbol "Z" and the Class A common stock will trade under the ticker symbol "ZG."

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