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August 5, 2014
10:37 EDTGOOG, SALERetailMeNot plunges after results miss, guidance cut
Shares of Internet coupon provider RetailMeNot (SALE) are tumbling after the company last night reported weaker than expected results and cut its guidance. A number of analysts reacted negatively to the news. WHAT'S NEW: RetailMeNot reported second quarter earnings per share of 8c, compared with analysts' consensus estimate of 17c. The company's revenue came in below expectations. Moreover, RetailMeNot reduced its fiscal 2014 revenue outlook to $262M-$270M from $276M-$282M. Analysts' consensus estimate was $282.1M. The company blamed changes in Google's (GOOG) search algorithms for the reduction in its guidance. "Overall we saw strong growth in consumer usage and engagement across platforms," said RetailMeNot CEO Cotter Cunningham. ANALYST REACTION: In a note to investors today, RBC Capital analyst Mark Mahaney responded to the news by downgrading the stock to Sector Perform from Outperform. Mahaney wrote that he was surprised by the size of the company's guidance cut, but still believes that it may not meet its new, reduced guidance. Moreover, competition from Google could intensify going forward, and RetailMeNot isn't inexpensive despite the decline in the shares, the analyst believes. He cut his price target on the stock to $24 from $42. Jefferies analyst Brian Pitz reacted to the news by cutting his price target on the shares to $36 from $47. However, Pitz believes that the damage to the company from Google's algorithm changes is now priced into the stock. Moreover, he is "cautiously optimistic" that RetailMeNot can find other ways of generating traffic, and is still upbeat on the outlook for online couponing. Pitz views the stock as one of the cheapest names among ecommerce companies he covers, and he kept a Buy rating on the stock. PRICE ACTION: In early trading, RetailMeNot tumbled 24% to $19.
News For SALE;GOOG From The Last 14 Days
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November 13, 2014
14:26 EDTGOOGAVG Technologies, Google renew Internet search and advertising agreement
AVG Technologies (AVG) announced earlier it has signed a renewal of its Internet search and advertising services agreement with Google (GOOG; GOOGL). The agreement has a 16-month term. AVG Technologies advised that the company's news release earlier today included an incorrect statement of the terms of the Google contract.
06:22 EDTGOOGLenovo, Asustek to launch $149 Chromebook, DigiTimes reports
Lenovo and Asustek plan to release Chromebooks using Google (GOOG) certified solutions from Rockchip in 1H15, reports DigiTimes. According to DigiTimes Resarch's latest finding from the Greater China supply chain, the devices are expected to be priced at $149. Reference Link
06:20 EDTGOOGAmazon's Web-services chief not threatened by cash threat from rivals, WSJ says
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November 12, 2014
13:04 EDTGOOGYouTube launches Music Key beta monthly subscription service
Google introduced YouTube Music Key beta, a monthly subscription service starting with the promotional price of $7.99/month, discounted from $9.99/month, that will feature ads-free music, background play and offline viewing. It will also include a subscription to Google Play Music, which in the coming days will be upgraded to give users the ability to watch many YouTube official music videos right from the app. "Starting today, you’ll see a new home just for music on your YouTube app for Android, iOS and on that shows your favorite music videos, recommended music playlists based on what you’re into and playlists of trending music across YouTube," Google also stated in its blog post related to the launch. Reference Link
12:56 EDTGOOGFCC chairman disagrees with Obama on Internet rules, Washington Post says
FCC Chairman Tom Wheeler told the executives of major Internet companies that he favors a more nuanced solution for regulating the Internet than the one suggested by President Obama, according to The Washington Post. Wheeler said he would "try to split the baby" between the president's proposal and the agenda of Internet executives who don't want the rules to affect their business, the newspaper stated, citing four unnamed sources who attended a meeting with Wheeler. Comcast (CMCSA), Time Warner Cable (TWC), Verizon (VZ), Cablevision (CVC) ,and AT&T (T) are major Internet Service Providers. Executives from Google (GOOG) and Yahoo (YHOO) were at the meeting with Wheeler, the newspaper said. . Reference Link
11:14 EDTGOOGGoogle DoubleClick says software bug fixed
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10:28 EDTGOOGGoogle says aware of, working on problem with DoubleClick, CNBC reports
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06:12 EDTGOOGVestager says not all concerns about Google can be covered by inquiry, WSJ says
New EU antitrust chief Margrethe Vestager says she will investigate the concerns posed by Google’s control over large amounts of data, but notes that not all of society’s concerns can be addressed by the competition case, the Wall Street Journal reports. Reference Link
November 11, 2014
15:59 EDTGOOGYouTube strikes music deals, paving way for streaming service, FT says
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13:55 EDTGOOGYuoTube hires Zynga executive to lead consumer products group, Re/code says
Google's (GOOG) YouTube has hired Manuel Bronstein, a Zynga (ZNGA) executive, to lead its consumer products group, says Re/code. According to the Re/code report, YouTube has had a series of notable managers depart in the last year. Reference Link
13:38 EDTGOOGNew European antitrust chief needs time to resolve Google probe, Reuters says
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13:36 EDTGOOGGoogle launches Google Fiber for small businesses
Google announced that it had launched a high speed Internet service, Google Fiber, for small businesses in select areas of Kansas City. Google will charge $100 per month for the service.
November 10, 2014
13:46 EDTSALEZhengxu He reports 7.61% passive stake in RetailMeNot
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12:45 EDTGOOGFullscreen to acquire Rooster Teeth, terms not disclosed, Reuters reports
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10:18 EDTSALERetailMeNot rises after Scopia Capital reports 13.74% passive stake
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10:17 EDTSALEOptions with decreasing implied volatility
Options with decreasing implied volatility: RMTI ACHN RPRX ARCP SALE ZU KING UBNT KATE AWAY
10:07 EDTSALEScopia Capital reports 13.74% passive stake in RetailMeNot
09:54 EDTSALEScopia Capital reports 11.74% passive stake in RetailMeNot
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07:11 EDTGOOGOpen Mobile Media to hold a summit
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06:04 EDTGOOGGoogle's same-day delivery head leaves for Uber, Re/code reports
The head of Google Express' same-day delivery service, Tom Fallows, has left the company to join Uber, Re/code reported on Friday, citing sources. Reference Link
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