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April 16, 2014
09:28 EDTSFUN, IBKR, YELP, YHOO, CRDC, JBLU, KING, ZLCS, ZGNX, SODAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Yahoo (YHOO), up 8%... Interactive Brokers (IBKR), up 5%. ALSO HIGHER: SodaStream (SODA), up 10% after Israel's Calcalist says the company is in talks to sell a stake to a strategic buyer, though research firm Stifel questioned the validity of the report... King Digital (KING), up 5% after announcing planned launch of Candy Crush Saga in China in partnership with Tencent (TCEHY)... Zalicus (ZLCS), up 20% after announcing merger agreement with Epirus... Yelp (YELP), up 4.7% after upgraded at Citigroup... SouFun (SFUN), up 4.6% after upgraded at Goldman... JetBlue (JBLU), up 2% following upgrade at Argus... Zogenix (ZGNX), up 10% after confirming reversal of Zohydro sales ban in Massachusetts. DOWN AFTER EARNINGS: Credit Suisse (CS), down 2.6%. ALSO LOWER: Cardica (CRDC), down 3.2% after selling 32.5M common shares at 85c.
News For YHOO;SODA;KING;YELP;ZGNX;JBLU;IBKR;ZLCS;CRDC;SFUN From The Last 14 Days
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July 21, 2015
15:02 EDTYHOONotable companies reporting after market close
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14:25 EDTYHOOYahoo July weekly 39.50 straddle priced for 4.7% movement into Q2
12:59 EDTYHOOEarnings Watch: Tax questions linger into Yahoo Q2 report
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09:56 EDTYHOOSalesforce rallies amid renewed speculation of Microsoft deal
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08:09 EDTYELPYelp ending efforts to find buyer a positive, says Brean Capital
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06:38 EDTYHOOYahoo volatility increases into Q2 and outlook
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06:07 EDTYHOOONUG: Yahoo hires VP of global network from Symantec
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05:50 EDTYHOOYahoo could drop below $38 on negative tax announcement, says Piper Jaffray
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July 20, 2015
12:25 EDTSFUNMorgan Stanley reports 5.4% passive stake in SouFun
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12:20 EDTYHOOYahoo July weekly volatility increases into Q2 and outlook
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10:43 EDTYELPZillow slides to 52-week low after Barclays cuts to sell
The shares of Zillow (Z) are falling after Barclays downgraded the stock to Underweight, the firm's equivalent of a "Sell" rating, citing increased competition in the "local" segment of the Internet market. Zillow's websites advertise homes that are up for sale. WHAT'S NEW: In a note to investors earlier today, Barclays analyst Christopher Merwin wrote that, heading into second quarter results, he does not recommend Internet stocks that have been "challenged" and have relatively "cheap" valuations. These valuations are only "cheap" based on consensus estimates that are probably too high, the analyst believes. Based on that criteria, he downgraded Zillow to Underweight from Equal Weight. He also used the same criteria to downgrade Yelp (YELP), whose website features user reviews of local businesses, to Equal Weight from Overweight. Both companies are facing an "atypical level" of competition, driven by a favorable venture capital funding environment, Merwin indicated. The competition has driven down the companies' multiples, he believes. WHAT'S NOTABLE: Merwin recommended that investors buy the shares of small and mid cap Internet companies whose estimates are just beginning to be revised upwards by analysts. He identified IAC (IACI), which owns several dating websites, as one stock in this category. IAC should benefit from increased monetization of its popular Tinder dating app and the stabilization of its core dating websites, the analyst contended. Also poised for further positive estimate revisions are video game makers Electronic Arts (EA) and Activision Blizzard (ATVI), Merwin believes. The companies' increased revenue from digital games should mitigate the risk they face from slowing software growth as sales of new consoles slow, the analyst believes. He noted that 50% of both companies' revenue are now generated from digital games and identified Electronic Arts and Activision Blizzard as two of his top ideas. PRICE ACTION: In morning trading, Zillow fell 5% to $79 after hitting a 52-week low of $76.82 earlier in the session. Meanwhile, Yelp slid 1.6% to $34.40, IAC fell fractionally to $83.83, Electronic Arts added about 1% to $74.15 and activision Blizzard rose 0.5% to $25.93.
10:00 EDTYELPOn The Fly: Analyst Downgrade Summary
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09:52 EDTYELPYelp August volatility elevated as shares trend lower
Yelp July weekly call option implied volatility is at 49, August is at 69; compared to its 52-week range of 38 to 81, suggesting large August price movement.
09:42 EDTYELPYelp hits a new 52-week low, levels to watch
Shares are down over 3.8% to $33.62 at time of writing. At that price next support is at $33.35, the new low, and then at $32.88. Resistance is at $34.62. Barclays downgraded the stock to Equal Weight and cut its price target to $36.
09:22 EDTYELPOn The Fly: Pre-market Movers
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06:59 EDTYHOOYahoo says taxes could 'materially reduce' Aabaco cash for distributions
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05:44 EDTYELPZillow Group downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Christopher Merwin downgraded Zillow Group (Z) to Underweight saying competition is increasing in local. Underweight is Barclays' equivalent to a sell rating. The real estate and rental marketplace owner closed Friday at $83.27. Merwin believes consensus growth estimates are likely too high heading into Zillow's Q2 results and cut his price target for the stock to $70 from $90. The analyst this morning also downgraded Yelp (YELP) to Equal Weight for similar reasons. His top U.S. Internet picks heading into Q2 earnings season are IAC (IACI), Activision Blizzard (ATVI) and Electronic Arts (EA). Merwin thinks Activision and Electronic Arts will receive more than half of their 2015 revenue from digital.
05:37 EDTYELPYelp downgraded to Equal Weight from Overweight at Barclays
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July 19, 2015
18:52 EDTYHOOYahoo experiments with 'texting plus video' messaging app, TechCrunch says
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July 17, 2015
17:00 EDTYHOOYahoo expects Alibaba spin-off completed in Q4
Yahoo (YHOO) announced the initial filing with the SEC in connection with its previously announced plan to spin off the company's remaining holdings in Alibaba Group Holding Limited (BABA) into a newly formed independent, publicly traded, registered investment company. The name selected for the new public company is Aabaco Holdings. Under the spin-off plan, announced on January 27, Yahoo plans to distribute all of the outstanding shares of Aabaco Holdings pro rata to its shareholders. Immediately after the spin-off, Aabaco Holdings will own approximately 384M shares of Alibaba Group, representing an ownership interest of approximately 15% in Alibaba Group, and a 100% ownership interest in a newly formed entity which will own Yahoo Small Business. The initial filing provides important information about the spin-off and Aabaco Holdings. Additional and updated information will be provided in subsequent amendments to the Form N-2. The spin-off is expected to be completed in Q4, subject to final approval by Yahoo's board and the satisfaction or waiver by Yahoo of certain other conditions.
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