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Stock Market & Financial Investment News

News Breaks
April 28, 2014
14:04 EDTTRLATrulia May call volatility elevated at 93 into Q1
Trulia May call option implied volatility is at 93, June is at 69, September and December is at 61; compared to its 26-week average of 62 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 29.
News For TRLA From The Last 14 Days
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July 28, 2014
08:34 EDTTRLAZillow to acquire Trulia for $3.5B in stock-for-stock deal
Zillow (Z) announced that it has entered into a definitive agreement to acquire Trulia (TRLA) for $3.5B in a stock-for-stock transaction. As part of the agreement, Trulia shareholders will receive 0.444 shares of Class A Common Stock of Zillow for each share of Trulia, and will own approximately 33% of the combined company at closing. Current Zillow holders of Class A Common Stock and Class B Common Stock will receive one comparable share of the combined company at closing, and will represent approximately 67% of the combined company. The transaction assumes Trulia's convertible notes will be assumed by the combined company at closing. The value of the deal represents a premium of 25% to Trulia's closing price on July 25. Bloombegr reports the deal values Trulia shares at $70.53. The boards of both companies have approved the transaction, which is expected to close in 2015. At closing, Trulia CEO Pete Flint will remain as CEO of Trulia reporting to Zillow CEO, Spencer Rascoff, and will join the board of the combined company. In addition, at closing, a second member of Trulia's board will join the board of the combined company. Further operational and organizational details will be announced at closing. The agreement is subject to the expiration of U.S. antitrust waiting periods and shareholder approval of both companies. Zillow co-founders Rich Barton and Lloyd Frink, who control a majority of the shareholder voting power of Zillow, have agreed to vote in favor of the transaction. In addition, Trulia directors holding 7.4% of Trulia stock have entered into voting agreements with Zillow to vote in favor of the transaction.
08:31 EDTTRLAZillow to acquire Trulia for $3.5B or $70.53 per share
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08:30 EDTTRLATrulia off lows, still down 2%, after Zillow halted for news pending
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07:38 EDTTRLAZillow could be worth $210/share after Trulia merger, says Benchmark Co.
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July 25, 2014
16:49 EDTTRLAS&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 EDTTRLAOn The Fly: Closing Wrap
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11:06 EDTTRLAZillow, Trulia continue climb after takeover talks report seen as 'credible'
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08:18 EDTTRLAZillow, 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 EDTTRLAOn The Fly: Closing Wrap
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15:51 EDTTRLAZillow CEO said to leave meeting to head to San Francisco, CNBC reports
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15:27 EDTTRLAZillow, 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 EDTTRLATrulia August volatility spikes on Zillow in talks to acquire
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14:16 EDTTRLAZillow volatility spikes on talks to acquire Trulia, Bloomberg
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14:07 EDTTRLAZillow in talks to acquire Trulia, Bloomberg reports
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14:03 EDTTRLATrulia, Zillow resume trading after volatility halts
14:00 EDTTRLATrulia jumps 11%, Zillow up 10% after Bloomberg report of buyout talks
13:58 EDTTRLATrulia could be valued as high as $2B in Zillow buyout, Bloomberg says
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13:57 EDTTRLAZillow in talks to acquire Trulia, Bloomberg reports
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July 22, 2014
07:17 EDTTRLANational Association for Business Economics to hold a seminar
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July 18, 2014
12:48 EDTTRLARealPage tumbles after reporting preliminary Q2 revenue miss
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