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Stock Market & Financial Investment News

News Breaks
February 14, 2014
11:43 EDTTRLA, Z, MOVETrulia plummets after fourth quarter profit misses expectations
Shares of real estate search engine Trulia (TRLA) are plunging after the company’s fourth quarter profit missed estimates. WHAT'S NEW: Last night, Trulia reported Q4 adjusted earnings per share of 3c and revenue of $49.7M, compared to expectations of 7c and $49.62M, respectively. Monthly unique visitors in Q4 were 35.3M, an increase of 49% from 23.6M in the same period last year. Mobile monthly unique visitors in the Q4 were 14.3M, an increase of 86% from 7.7M in the same period last year. Total subscribers as of December 31, 2013 were approximately 59,700, an increase of approximately 3,300 from September 30, 2013. Average monthly revenue per subscriber for Q4 was $179, a 4% increase from $172 in the same period last year. WHAT’S NOTABLE: The company’s revenue forecast for the first quarter and fiscal 2014 were in-line with consensus estimates. ANALYST REACTION: This morning, research firm RBC Capital lowered its price target on the shares to $45 from $54. The firm said it would have liked to have seen the company report higher revenue, but thought the company's long-term fundamentals are intact. It reiterated an Outperform rating on the stock. PRICE ACTION: In morning trading, Trulia dropped $6.53, or 17.9%, to $29.90 on nearly six times its average daily trading volume. Including today’s slide, the stock has lost approximately 1% over the past twelve months. OTHERS TO WATCH: Shares of Zillow (Z), which is also in the real estate search space, are down over 6.5% in late morning trading, while Move, Inc. (MOVE) is down 5.6%.
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July 25, 2014
16:49 EDTZ, TRLAS&P ends week little changed amid earnings deluge
The S&P 500 finished little changed this week as mixed U.S. economic data and continued geopolitical uncertainty offset strong earnings from a number of major companies and upbeat overseas economic data. MACRO NEWS: U.S. economic data was mixed, as fewer than expected jobless claims were reported and durable goods orders for June were slightly higher than expected, but new home sales for June and a preliminary purchasing managers' index for July came in below expectations... Investors received some positive economic news from overseas, as HSBC's preliminary China purchasing managers' index for July reached an 18-month high. Meanwhile, a preliminary PMI for the euro zone for July came in at 54, versus 52.8 in June... Ongoing conflicts between Israel and Hamas and Russia and Ukraine kept investors on edge, with Friday reports indicating that no truce accord had been reached in Israel and that Russia was building up its troop presence along the Ukrainian border. COMPANY NEWS: Among the notable companies whose stocks rose after they reported quarterly results were Facebook (FB), Apple (AAPL), Allergan (AGN) and Chipotle Mexican Grill (CMG). Notable companies whose stocks sold off following their results included Netflix (NFLX), Harley-Davidson (HOG), General Motors (GM), Boeing (BA), McDonald's (MCD) and Pandora (P)... McDonald's was also hit this week by revelations that its restaurants in China had sold expired meat that was allegedly intentionally supplied by a China-based company. Yum! Brands (YUM) and a provider of products to Starbucks (SBUX) are also believed to have bought and sold expired meat from the supplier... In M&A news, Bloomberg reported that real estate website operator Zillow (Z) held talks about buying its rival, Trulia (TRLA). Both stocks surged. Shares of SodaStream (SODA) also rallied after Bloomberg reported that the company is in talks about selling itself to an investment firm that would take the beverage system maker private... On Monday, hedge fund manager Bill Ackman promised on CNBC that his presentation about Herbalife (HLF) would show why the company "is going to collapse." But the shares actually surged higher during and immediately after Ackman's presentation. Ackman has a large short position in the stock and notably alleged it is a pyramid scheme... BlackBerry's (BBRY) CEO told the Financial Times that his company was in early talks about partnering with companies to target the enterprise markets, in order to counter a recently announced partnership between Apple and IBM (IBM). INDEXES: For the week, the Dow fell 0.83% to 16,960.57, the Nasdaq rose 0.4% to 4,449.56, and the S&P was flat at 1,978.34.
16:18 EDTZ, TRLAOn The Fly: Closing Wrap
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11:06 EDTTRLA, ZZillow, Trulia continue climb after takeover talks report seen as 'credible'
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08:18 EDTZ, TRLAZillow, Trulia merger story viewed as credible at Deutsche Bank
Deutsche Bank views Bloomberg's report of merger talks between Zillow (Z) and Trulia (TRLA) as credible, saying the deal would make a lot of sense. The firm says Trulia shares would be worth around $63 in a takeover when using Priceline's (PCLN) acquisition of OpenTable as a comparison. Even at that price, the firm sees nearly 20% upside for Zillow's enterprise value should an acquisition occur. Deutsche notes that neither company has denied yesterday's report, nor has either company announced an earnings date. It cautions, though, that the potential merger could easily fall apart as well. It has a Buy rating on Trulia and Hold rating on Zillow.
July 24, 2014
17:05 EDTTRLA, ZOn The Fly: Closing Wrap
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15:51 EDTTRLA, ZZillow CEO said to leave meeting to head to San Francisco, CNBC reports
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15:27 EDTZ, TRLAZillow, Trulia deal 'rumors just ridiculous,' Citron Research says
Citron Research stated on Twitter that Zillow (Z) and Trulia (TRLA) "rumors just ridiculous Top 10 real estate websites COMBINED do not account for more than 50% of total real estate traffic." Reference Link
14:19 EDTTRLA, ZTrulia August volatility spikes on Zillow in talks to acquire
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14:16 EDTTRLA, ZZillow volatility spikes on talks to acquire Trulia, Bloomberg
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14:07 EDTTRLA, ZZillow in talks to acquire Trulia, Bloomberg reports
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14:03 EDTZ, TRLATrulia, Zillow resume trading after volatility halts
14:00 EDTZ, TRLATrulia jumps 11%, Zillow up 10% after Bloomberg report of buyout talks
13:58 EDTZ, TRLATrulia could be valued as high as $2B in Zillow buyout, Bloomberg says
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13:57 EDTTRLA, ZZillow in talks to acquire Trulia, Bloomberg reports
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July 22, 2014
12:53 EDTZRealPage likely being presented with strategic alternatives, says Barrington
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07:17 EDTTRLANational Association for Business Economics to hold a seminar
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July 18, 2014
12:48 EDTTRLA, Z, MOVERealPage tumbles after reporting preliminary Q2 revenue miss
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July 16, 2014
16:33 EDTZZillow acquires Retsly
Zillow announced it has acquired Vancouver, BC based Retsly, a software company that normalizes real estate data from multiple listing services so developers can build data-driven products for the real estate industry. The company also provides MLSs with the tools to manage software applications in their market and ensure their content is being used appropriately. Zillow is not disclosing the financial terms of the acquisition. "Retsly's platform will spur tremendous innovation in the real estate space, enabling developers to build software that works across MLS boundaries and without the overhead of dealing with local data formats," said Spencer Rascoff, Zillow CEO. "Retsly's team and cutting-edge technology is a great fit with Zillow and aligns with our goal to offer great value and services to our industry partners. We're thrilled to welcome Retsly to Zillow." Retsly was founded in 2013 and will continue to operate from Vancouver.
09:32 EDTMOVEMove, Inc. mentioned positively at Craig-Hallum
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07:24 EDTZSiemer & Associates to hold a summit
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