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Stock Market & Financial Investment News

News For YELP;FB;ANGI;LNKD From The Last 14 Days
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July 29, 2015
15:59 EDTFBNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 47c... MetLife (MET), consensus $1.48... Williams (WMB), consensus 24c... Vertex (VRTX), consensus (58c)... O'Reilly Automotive (ORLY), consensus $2.26... NXP Semiconductors (NXPI), consensus $1.37... Marriott (MAR), consensus 81c... Fiserv (FISV), consensus 94c... Western Digital (WDC), consensus $1.45... SBA Communications (SBAC), consensus 9c... Whole Foods (WFM), consensus 45c... Lincoln National (LNC), consensus $1.53... Lam Research (LRCX), consensus $1.47... ServiceNow (NOW), consensus (2c)... Qorvo (QRVO), consensus $1.06... Hologic (HOLX), consensus 39c.
15:15 EDTYELPYelp downgraded to Neutral from Buy at MKM Partners
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15:08 EDTFBNotable companies reporting after market close
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14:49 EDTFBFacebook July weekly 96 straddle priced for 8.2% movement into Q2
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12:42 EDTYELPOn The Fly: Top stock stories at midday
Stocks on Wall Street overcame a tentative start and are higher at midday ahead of the statement from the Federal Reserve following its latest monetary policy meeting. The pending home sales report showed an unexpected decline from the prior month, reminding investors the economy still isn't seeing the most robust of recoveries. ECONOMIC EVENTS: In the U.S., an index of pending home sales fell 1.8% in June, versus expectations for it to have risen 1% compared to the prior month. The Federal Reserve concludes a meeting on monetary policy today and its post-meeting statement is scheduled to be released at 2 pm EDT. The central bank is not expected to raise rates at this meeting and no post-meeting press conference is scheduled for Fed Chair Janet Yellen. In China, the Shanghai composite index rose 3.4%, stemming its most recent stretch of declines, though the index is still deeply in the red on a week-to-date basis. COMPANY NEWS: Shares of Twitter (TWTR) fell 13% after the company reported better than expected quarterly results but its management tempered expectations about its user growth. Several analysts cut their price targets on the stock and warned its shares may be range bound in the near-term, but maintained their buy ratings on the stock based on the social network operator's long-term potential. MAJOR MOVERS: Among the notable gainers following their earnings reports were hepatitis C drug maker Gilead (GILD), which rose 3%, and two defense contractors who raised their outlooks: Northrop Grumman (NOC), which advanced 7%, and General Dynamics (GD), which gained nearly 5%. Also higher was Citrix Systems (CTXS), which jumped about 10% after issuing better than expected fiscal year earnings guidance, reporting its CEO Mark Templeton plans to retire and entering into a cooperation agreement with activist investor Elliott Management, which owns approximately 7.5% of the company’s common stock. Among the noteworthy losers was Yelp (YELP), which tumbled 28% and hit a multi-year low after the local business review site operator reported lower than expected profit and lowered its fiscal year revenue guidance. Also lower following their earnings reports were Akamai (AKAM), which fell 5%, and Level 3 Communications (LVLT), which dropped 6%. INDEXES: Near midday, the Dow was up 94.46, or 0.54%, to 17,724.73, the Nasdaq was up 6.72, or 0.13%, to 5,095.92, and the S&P 500 was up 9.02, or 0.43%, to 2,102.27.
12:37 EDTFBEarnings Watch: Analysts upbeat on Facebook revenue drivers ahead of Q2 report
Facebook (FB) is expected to report second quarter earnings after the market close on Wednesday, July 29 with a conference call scheduled for 5:00 pm ET. Facebook is a social networking service with over 1B active users. EXPECTATIONS: Analysts are looking for earnings per share of 47c on revenue of $3.99B. The consensus range is 39c-54c for EPS, and $3.66B-$4.22B for revenue, according to First Call. LAST QUARTER: Facebook reported first quarter EPS of 42c against estimates of 40c, on revenue of $3.54B against estimates of $3.56B. Facebook reported Q1 daily active users were up 17% to 936M and mobile daily active users were up 31% to 798M. Monthly active users were 1.44B as of March 31, 2015. The company said Instagram has more than 200M daily users. During its Q1 earnings conference call, Facebook said it expects Foreign Exchange headwinds in Q2 will be greater than Q1. It said it expects total payments and other fees revenue to decline year-over-year for the remainder of the year. NEWS: In the past quarter, Facebook introduced video calling and Moneypenny features to its Messenger service. It also announced the Internet.org platform and its Instant Articles for publishers. Re/code said Facebook may be mulling a Twitter (TWTR) acquisition, but Facebook declined to comment. A New York Times article said Facebook is in talks to insert music videos in feeds. Facebook also said there was no truth to a rumor that said it may launch a music streaming service. STREET RESEARCH: Most analyst firms in the past quarter gave positive recommendations on Facebook, citing strong revenue drivers from multiple sources, SunTrust said Facebook could get a significant revenue boost from its Instagram move and expects the Buy button could lift revenue 5%-10%. Piper Jaffray said Facebook’s multiple is expected to increase as investors become more aware of VR, adding that the company is the best play on the “next computer paradigm of virtual reality.” JMP Securities say Facebook is expected to continue its growth in ad share as Instagram engagement and monthly average users continue to grow. Ahead of the Q2 earnings report, ITG Research said Q2 revenue is tracking slight above consensus and BTIG expects Facebook to exceed consensus estimates due to higher confidence in video advertising opportunity. Brean Capital said Facebook will face ForEx headwinds in Q2, but quarterly results are less relevant as investors will be focused on the long-term goals. PRICE ACTION: Facebook shares have gained about 13% since the first day of trading following the company's Q1 report. In Wednesday afternoon trading ahead of its Q2 report, Facebook shares are up 0.5%
11:48 EDTFBStocks with call strike movement; FB GILD
Facebook (FB) December 110 call option implied volatility decreased 3% to 32, Gilead (GILD) November 130 call option implied volatility decreased 9% to 29 according to IVolatility.
11:15 EDTFBFacebook July weekly 95 straddle priced for 8.7% movement into Q2
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11:07 EDTFBFacebook technical comments ahead of results
On the daily chart there is a potential bullish flag that has developed in the last two weeks. If the news is strongly bullish, the flag pattern would become active on a move above $96.50. Upside potential for the pattern, if it triggers and completes, is to the $110 to $112 area. If the news is instead a negative surprise, first established support would be at the $90 area. On a breakdown below $90, next support would be at the 50-day moving average at $86.16. If the 50-day is broken, next support is at $84.74. The $83 to $80 zone has been strong support over the prior year in the event of a larger negative surprise.
10:57 EDTYELPYelp tumbles to multi-year low as downgrades pile up after earnings
The shares of Yelp (YELP) are plunging and hit a multi-year low after the company reported lower than expected second quarter profit and provided third quarter revenue guidance that missed expectations. A number of firms downgraded the stock following the report, while others reduced their price target but kept Buy ratings on the name. EARNINGS: Yelp reported a loss per share of (2c), versus the consensus outlook of a 1c per share profit. The company's revenue was in-line with expectations. However, Yelp provided Q2 revenue guidance of $139M-$142M, versus the consensus outlook of of $152.66M. It also lowered its full-year revenue guidance to $544M-$550M and announced that its chairman, Max Levchin, had resigned. Additionally, the company announced that it would eliminate its brand advertising product by the end of 2015. The product's revenue dropped to $8.3M last quarter, down 8% from the same period in 2014, Yelp reported. ANALYST REACTION: Oppenheimer analyst Jason Helfstein downgraded Yelp to Perform from Outperform, saying the reduction in the company's guidance was caused by the difficulties it has had with hiring new salespeople and sustaining high levels of sales productivity, as well as the discontinuation of its brand advertising program. Until the company can show that it has increased its sales and marketing leverage, investors will likely expect the company's margins to peak at 20% going forward, down from 40% previously, according to Helfstein. Also downgrading Yelp was Morgan Stanley analyst Brian Nowak, who lowered his rating on the shares to Equal Weight from Overweight. Among the reasons Nowak cited for his downgrade were the company's weaker than expected results, its decisions to hire fewer sales professionals, the discontinuation of its brand advertising business and the likely increase in its costs going forward. He lowered his EPS estimates for the company and set a $25 price target on the shares. Yelp was also downgraded by analysts at Topeka, Raymond James, Cowen, JMP Securities and BofA Merrill Lynch this morning. However, Citi analyst Mark May kept a Buy rating on the shares, saying that the stock's valuation already reflects the company's slower growth outlook and the investments it must make going forward. Moreover, the company still has strategic value, according to May, who cut his price target on the name to $35 from $54. Similarly, Brean Capital analyst Tom Forte wrote that Yelp still has significant value and the company could still be a takeover target. He lowered his price target on the name to $40 from $58 but kept a Buy rating on the shares. PRICE ACTION: In morning trading, Yelp tumbled 28% to $24. Earlier in the session, the stock hit a 52-week low of $23.66.
10:07 EDTYELPYelp hits fresh multi-year low, levels to watch
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10:00 EDTYELPOn The Fly: Analyst Downgrade Summary
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09:35 EDTFBActive equity options trading on open
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09:13 EDTYELPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Buffalo Wild Wings (BWLD), up 11.4%... Panera Bread (PNRA), up 5.9%... Sonus Networks (SONS), up 7.2%... Gilead Sciences (GILD), up 3.6%... U.S. Steel (X), up 3.3%... Synchronoss (SNCR), up 2.8%. ALSO HIGHER: Cytec Industries (CYT), up 26.7% after being acquired by Solvay (SVYZY)... MagneGas (MNGA), up 7.8% after receiving multiple orders... AK Steel (AKS), up 5.2% after being upgraded to Outperform from Neutral at Macquarie. DOWN AFTER EARNINGS: Yelp (YELP), down 23.6%... VASCO Data Security (VDSI), down 13.3%... Tableau Software (DATA), down 16%... Twitter (TWTR), down 11.4%... Akamai Technologies (AKAM), down 7.9%.
09:08 EDTANGITCS Capital takes activist stake in Angie's List
TCS Capital Management disclosed a 6.5% activist stake in Angie's List. The stock at current prices "is an attractive investment opportunity," and Angie's "may have multiple options to increase its market value," TCS said in a regulatory filing. TCS intends to have communications with members of the board "regarding various options to maximize shareholder value," including consideration of a potential sale of the company and the pending selection of the next Chief Executive Officer. Shares of Angie's are trading up 8c to $4.24 in the pre-market.
08:23 EDTYELPYelp downgraded on guidance, margin outlook at Oppenheimer
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07:38 EDTYELPYelp valuation already 'washed out,' says Citi
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07:32 EDTYELPYelp downgraded to Market Perform from Outperform at JMP Securities
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07:16 EDTYELPYelp price target lowered to $50 from $68 at Cantor
Cantor cut its price target on Yelp after the company reported lower than expected Q2 EPS. The firm says the company's decision to phase out brand advertising and slow the growth of its sales team caused its 2015 revenue guidance to drop. However Cantor still expects Yelp to benefit from its strong position in the local online ad market, and it thinks the company remains a potential takeover target. It keeps a Buy rating on the shares.
06:54 EDTYELPYelp downgraded to Market Perform from Outperform at Cowen
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