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Stock Market & Financial Investment News

News Breaks
August 5, 2014
10:37 EDTSALE, GOOGRetailMeNot 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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October 21, 2014
11:20 EDTGOOGData says open-source Android OS could threaten revenue, Information says
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07:26 EDTGOOGGoogle invests in enhanced reality visual-display start-up, WSJ reports
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07:07 EDTGOOGMecklerMedia to hold a conference
Inside 3D Printing Conference is being held in Santa Clara, California on October 21-23.
October 20, 2014
13:40 EDTGOOGVringo says Court of Appeals invites Google to respond to en banc petition
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13:40 EDTSALERetailMeNot risk/reward favorable, says Goldman
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09:36 EDTGOOGActive equity options trading on open
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09:31 EDTGOOGRobinhood.org to hold conference
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06:22 EDTGOOGYouTube's Robert Kyncl considering leaving company, NY Post reports
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06:01 EDTGOOGGoogle's Hiroshi Lockheimer overseeing Android, Chrome engineering, WSJ says
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October 17, 2014
16:55 EDTGOOGStocks end volatile week lower amid oil price plunge
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09:38 EDTGOOGActive equity options trading on
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07:53 EDTGOOGFBI Director urges Apple, Google to change course on encryption, WSJ says
FBI Director James Comey, making his most extensive statements to date on encrypted phones and operating systems in a speech at the Brookings Institution, urged Apple (AAPL) and Google (GOOG) to take a step back, to pause to consider, I hope, a change of course, and called on lawmakers to update federal rules on how the government can intercept and monitor communication, reported The Wall Street Journal. Reference Link
07:47 EDTGOOGGoogle exec confident in improving YouTube ad sales, BI reports
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07:37 EDTGOOGGoogle price target lowered to $600 from $670 at BofA/Merrill
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07:24 EDTGOOGMacquarie continues to recommend Google for long-term holders
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06:47 EDTGOOGGoogle price target lowered to $620 from $650 at Cantor
Cantor Fitzgerald lowered its price target for Google shares to $620 saying higher operating expenses and elevated Capex pressured margins and earnings in Q3. The firm views the current valuation as attractive and keeps a Buy rating on Google.
06:23 EDTGOOGGoogle price target lowered to $675 from $725 at Pacific Crest
Pacific Crest lowered its price target for Google shares to $675 citing expectations for a higher tax rate following the company's Q3 results. The firm thinks shares are attractively valued at current levels and keeps an Outperform rating on Google.
06:18 EDTGOOGGoogle price target lowered to $652 from $684 at Citigroup
Citigroup lowered its price target for Google (GOOGL) shares to $652 following the company's Q3 results and keeps a Buy rating on the name. Citi calls the results "relatively good."
06:13 EDTGOOGLVMH could pair with a tech company to launch smartwatch, WSJ reports
LVMH Moet Hennessy Louis Vuitton (LVMUY) says it could team up with with a technology company to launch a smartwatch for one of its brands, the Wall Street Journal reports. Jean-Claude Biver, president of LVMHs watch division, commented "Maybe in nine months, we will have a smartwatch." Publicly traded smartwatch makers include Apple (AAPL), Google (GOOG) and Samsung (SSNLF). Reference Link
05:44 EDTGOOGGoogle growth story remains intact, says Piper Jaffray
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