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Stock Market & Financial Investment News

News For YELP;FB;ANGI;LNKD From The Last 14 Days
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February 8, 2016
17:00 EDTFBNFL shopping streaming rights for Thursday Night Football, Bloomberg says
The NFL is shopping the web streaming rights for Thursday Night Football and has held talks with Apple (AAPL), Amazon (AMZN), Yahoo (YHOO), Facebook (FB), Verizon (VZ) and AT&T (T), reports Bloomberg, citing sources. Though some of the companies rejected the high price asked by the league, Yahoo, Verizon, and AT&T are expected to bid, the sources told Bloomberg. The NFL is not pursuing a longterm relationship, and will instead use the next several years to explore various distribution models in preparation for selling a broader array of digital rights near 2021, the report said. Reference Link
16:23 EDTYELPOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory thanks in part to lower oil prices, poor banking data out of China, and selling in Europe. The market saw little in the way of buying for most of the day, with all ten of the S&P sectors in negative territory. Oil prices struggled to stay above $30 per barrel, while "safe haven" gold moved above $1,200 an ounce, its highest price since June. Once oil settled, stocks saw a late rally and cut into their losses, but the averages still ended the day deep in the red even following the comeback. ECONOMIC EVENTS: In the U.S., the labor market conditions index came in at 0.4 for January, below expectations for a reading of 2.0. In Asia, markets in mainland China, Hong Kong, Taiwan and Korea were all closed for the New Year holiday. Data was still released in China that showed the country's foreign currency reserves fell to their lowest level since May 2012, dropping about $99B in January, though that was better than analyst forecasts and ahead of some recent whispers. COMPANY NEWS: Chesapeake Energy (CHK) tumbled 33.2% to $2.05 after media reports indicated that the natural gas producer has hired restructuring lawyers from Kirkland & Ellis. The company later remarked that the law firm has been retained as an adviser, though Chesapeake noted it has "no plans" to pursue bankruptcy, which helped the stock recover some of its early losses... Meanwhile, another player in the oil space with ties to Chesapeake, Energy Transfer Equity (ETE), declined 41.3% to $4.10 after the company disclosed it was making a change to the Chief Financial Officer of its general partner. Williams Company (WMB), which has agreed to merge with Energy Transfer, also slid nearly 35%... Yelp (YELP) ended Monday down 11% at $16.11 after the earlier than expected release of its quarterly earnings report, which the company blamed on the news distribution service that issued the press release before the results were due. Yelp's earnings and revenue came in above expectations, though the company also disclosed that its finance chief Rob Krolik would be stepping down. MAJOR MOVERS: Among the notable gainers was Apollo Education (APOL), which rallied 24% to $8.62 after agreeing to be acquired for $9.50 per share by a group of investors led by private equity firm Apollo Global (APO), with the news also sending its for-profit education competitor DeVry (DV) up 5.5%. Also higher was GoPro (GPRO), which gained 10.3% to $10.99 after Microsoft (MSFT) announced a new collaborative patent licensing agreement with the beaten down action camera maker. In addition, Outerwall (OUTR), owner of the Redbox and Coinstar kiosk brands, rose 11% to $30.01 after Bloomberg reported that at least three buyout firms have sought to take it private in the past two years, with activist investor Engaged Capital later in the day confirming a 14% stake in the company. Among the noteworthy losers was Sarepta (SRPT), which declined 12.1% to $10.74 after the FDA delayed a decision on the company's closely-watched Duchenne muscular dystrophy treatment eteplirsen. Also lower was BioCryst (BCRX), which plunged 71% to $1.77 after a clinical trial of its hereditary angioedema drug failed to meet its primary endpoint. Meanwhile, Twitter (TWTR) fell 5.3% to $14.89 following reports over the weekend that it is rethinking its news feed, potentially ordering posts based on popularity rather than chronological date. INDEXES: The Dow fell 177.92, or 1.1%, to 16,027.05, the Nasdaq lost 79.39, or 1.82%, to 4,283.75, and the S&P 500 declined 26.61, or 1.42%, to 1,853.44.
16:00 EDTFBOptions Update; February 8, 2016
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15:41 EDTFBFacebook CEO Zuckerberg: 'Committed' to Free Basics in India, elsewhere
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14:02 EDTYELPYelp outlook shows business still transitioning, says Piper Jaffray
Piper Jaffray analyst Gene Munster says Yelp's guidance shows the business is still in transition. The good news is investors expected a worse outlook, the bad news is Yelp's structural problems are not fixed, Munster tells investors in a research note after Yelp's earnings came out intraday. He keeps a Neutral rating on the stock.
13:50 EDTYELPYelp: Early earnings release caused by vendor error, CNBC says
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13:24 EDTYELPYelp trading halted again for circuit-breaker, down 5.3% at $17.14
Shares have been volatile after the company issued an intraday earnings release and announced that its CFO plans to leave.
13:20 EDTYELPYelp says CFO Rob Krolik to step down in coming months
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13:20 EDTYELPYelp down 10% to $16.37 after earnings release, CFO change
13:19 EDTYELPYelp reports Q4 app unique devices up 38% to 20M on monthly average basis
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13:17 EDTYELPYelp sees FY16 revenue $685M-$700M, consensus $687.42M
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13:16 EDTYELPYelp sees Q1 revenue $154M-$157M, consensus $154.4M
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13:15 EDTYELPYelp reports Q4 adjusted EPS 11c, consensus (3c)
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13:15 EDTYELPYelp halted for circuit-breaker after intraday earnings release
09:54 EDTFBFacebook's Free Basics service blocked by India regulators, BBC News says
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09:36 EDTFBActive equity options trading on open
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09:18 EDTLNKDLinkedIn sell-off overdone, says Argus
After LinkedIn's stock tumbled 43% on Friday following its weaker than expected guidance, Argus indicates that it thinks the miss was largely due to the company's decision to "terminate an unpromising product." Argus views the latter decision as positive, and thinks that the huge drop in the stock "seems perverse." It reiterates a Buy rating on the shares.
07:49 EDTLNKDLinkedIn attractive for long-term investors, says Stifel
After LinkedIn's stock tumbled over 43% Friday following its weaker than expected guidance, Stifel says that long-term investors can be rewarded by buying the stock today. After comparing LinkedIn's businesses to those of its peers, Stifel thinks the shares have a 12-month forward fair value of $180. The firm says the company has "a dominant, global franchise." It cut its price target on the name to $180 from $220 but keeps a Buy rating.
07:05 EDTYELPYelp volatility elevated into Q4 and outlook
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06:57 EDTLNKDLinkedIn closes ad network one year after starting it, AdAge reports
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