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Stock Market & Financial Investment News

News Breaks
February 21, 2014
12:33 EDTSSTKShutterstock soars to 52-week high after beating expectations
Shares of Shutterstock (SSTK), which are operates as a marketplace for commercial digital imagery, are soaring after the company’s fourth quarter results and fiscal 2014 revenue guidance surpassed expectations. WHAT'S NEW: Last night, Shutterstock reported Q4 earnings per share of 22c and revenue of $68M, compared to expectations of 21c and $65.86M, respectively. The company’s first quarter and fiscal 2014 revenue guidance topped expectations as well. For Q1, the company forecast revenue of $69M-$70M, compared to consensus of $67.73M. For FY14, revenue was seen at $305M-$310M, versus expectations of $304.5M. FY14 adjusted EBTIDA was forecast at $68M-$70M. ANALYST REACTION: This morning, research firm RBC Capital raised their price target on Shutterstock to $100 from $86, noting it viewed the company's Q4 results as strong. The firm reiterated an Outperform rating on the stock. Another firm, Cantor, also raised their price target on Shutterstock to $95 from $75, citing the company’s results and guidance. The firm kept a Buy rating on the stock. PRICE ACTION: In early afternoon trading, Shutterstock jumped $13.59, or 16.5%, to $96.10 on more than five times its average daily trading volume. Earlier in the session, the stock reached a 52-week high of $98.98. Over the past twelve months, the stock has gained approximately 240%
News For SSTK From The Last 14 Days
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December 12, 2014
16:19 EDTSSTKOn The Fly: Closing Wrap
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13:04 EDTSSTKOn The Fly: Midday Wrap
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13:00 EDTSSTKShutterstock falls after Adobe buys competitor Fotolia
Shares of Shutterstock (SSTK), a provider of commercial digital images, are falling after Adobe (ADBE) announced that it would buy one of the company's privately held competitors, Fotolia. WHAT'S NEW: Adobe said last night that has struck a deal to buy Fotolia for about $800M in cash. Adobe expects the deal to be neutral to its profits in fiscal 2015, but predicts that the acquisition will increase its profits in fiscal 2016. Both Fotolia and Shutterstock provide photos and videos to commercial customers. Investors may believe that Fotolia will become a tougher competitor for Shutterstock after it becomes part of Adobe. PRICE ACTION: In early afternoon trading, Shutterstock tumbled 12.5% to $62.71. The shares are down 24% in the last month.
10:41 EDTSSTKHigh option volume stocks:
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