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Stock Market & Financial Investment News

News Breaks
February 14, 2014
11:43 EDTMOVE, Z, TRLATrulia 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%.
News For TRLA;Z;MOVE From The Last 14 Days
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December 18, 2014
13:48 EDTTRLA, ZZillow, Trulia shareholders approve planned merger
Zillow (Z) and Trulia (TRLA) announced that Zillow shareholders and Trulia stockholders voted resoundingly to approve the previously announced definitive agreement, dated as of July 28, pursuant to which Zillow will acquire Trulia. At special meetings held earlier, approximately 88.75% of Zillow votes outstanding and entitled to be voted, and 79.52% of Trulia votes outstanding and entitled to be voted, were voted in favor of the agreement. Zillow shareholders and Trulia stockholders also voted to approve the authorization of nonvoting Class C capital stock in the combined company's amended and restated articles of incorporation. The companies anticipate that the transaction will be completed in the first half of 2015.
December 17, 2014
15:53 EDTTRLA, ZTrulia to host special shareholder meeting
Special shareholder meeting to approve the merger agreement with Zillow will be held in Seattle, Washington on December 18 at 11 am.
15:49 EDTTRLA, ZZillow to host special shareholder meeting
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