IAC/InterActiveCorp(NASDAQ:IACI) has purchased another 10% stake in dating app Tinder, which it already majority owns, for $500M, reports Bloomberg, citing people with knowledge of the deal. Shares of IAC are up 4% in afternoon trade following the report. Analysts have a consensus price target of $68 on IAC/InterActiveCorp(NASDAQ:IACI) which indicates a .47% upside. The consensus rating of the stock is a HOLD with a score of 2.31. There are currently 7 Hold Ratings, 5 Buy ratings and 1 Sell rating on the stock. A recent analyst action consisted of Topeka Capital Markets boosting their price target from $78 to $98. This…
Author: Erik Witlen
At the start of earnings season, Goldman Sachs identified 25 of the most differentiated ideas in order to take advantage of option volatility. “The average earnings-day move last quarter was 3.2 times as large as an average daily move. This ratio is at the upper end of the past 17 years, well above the average of 2.2 times.” Amidst heightened volatility surrounding this earnings season, the analyst sees even more potential for investors to add alpha on portfolio positions. Putting this into perspective, Goldman delves into recent under-performers for stocks that may have significant upside moves; and recommends purchasing call options…
Stifel believes that the recent decline in Internet stocks creates an opportunity, and the firm likes Facebook (NASDAQ:FB), Netflix (NASDAQ:NFLX) and RetailMeNot Inc (NASDAQ:SALE) following their pullbacks. Stifel notes that all three stocks are down over 20% from their highs, and the firm thinks they have strong fundamental catalysts tied to mobile and cloud-based services. The firm is also upbeat on Yahoo (NASDAQ:YHOO), citing the upcoming Alibaba IPO, which it believes will provide a catalyst. Stifel keeps Buy ratings on Facebook, Netflix, RetailMeNot, and Yahoo. Analysts have a consensus price target of $71.68 on Facebook Inc. (NASDAQ:FB) which indicates a…
Friday afternoon, Symmetry confirmed that a minor fire had occurred at its Sheffield, United Kingdom, manufacturing plant on Saturday, March 8, 2014. The company indicated that the financial impact of the fire would be minimal beyond a delay in revenue from the first quarter 2014 to second quarter 2014 of about $1 million. Fundamentally, nothing has changed with our long-term view, though the issue represents a minor near-term hurdle. The company experienced a fire at this facility in September 2013 that destroyed the facility; the event announced Monday was not as damaging as the one in September, because this one…
February excavator sales showed a strong increase, driven by an easy comparison from the February Chinese New Year last year. We had expected a strong February report, but the spring selling season will determine the cadence of growth for the year. Smaller capacity excavator growth (71%) outpaced larger excavators (37%). Caterpillar again outperformed the industry, with sales up 94% year-over-year in February. Caterpillar’s overall market share of 10.3% was 210 basis points higher than last year. In the 20-ton-plus category, Caterpillar’s market share was roughly 14%, which was about in line with results posted the past several months. Caterpillar’s market…
Friday afternoon, Bacterin released fourth-quarter results, following the company’s better-than-expected pre-announcement in January, with revenues in line with the pre-announcement and profitability better than anticipated; a conference call to discuss the results was held Monday morning. The stock closed up 14% on high volume and had been up more than 60% during the day; we believe this was driven by a press release issued regarding use of OsteoSponge in the foot and ankle, along with some bullish commentary by management on the company’s outlook. The company issued a press release Monday morning before its earnings call that cited positive results…
Williams-Sonoma fourth-quarter operating EPS of $1.38 exceeded our $1.36 estimate, the $1.35 consensus, and the $1.30-$1.37 guidance. Upside reflected stronger-than-expected revenues, which were only partly offset by a lower-than- expected gross margin rate. Revenues increased 9.7% (same-week), reflecting 2.7% growth in retail and 19.0% growth in direct-to-customer (DTC). Comparable brand revenues rose 10.4%, sharply ahead of our 4.8% estimate, the 4.3% consensus (according to StreetAccount), and the 3%-6% guidance; growth comprised +14.6% at Pottery Barn, +11.2% at Pottery Barn Kids, +18.3% at West Elm, +9.6% at PBteen, and +2.3% at Williams-Sonoma (the first increase in a fourth quarter since 2010).…
Verisk Analytics hosted its investor day in New York City on Thursday. There were no significant surprises, but the event provided a bit of insight into some of the areas of expansion for each of the company’s businesses. For example, in the insurance vertical, management provided more insight into its strategy for growing the company’s underwriting solutions for auto insurers and the international expansion of Xactware. In the healthcare vertical, management said that it is in discussions with another large health plan (which would be its third one) about joining its pooled data initiative for payment accuracy solutions. That product…
On Thursday, Trulia hosted a well-attended analyst day in San Francisco. A number of Trulia executives spoke, including Chief Executive Officer Pete Flint, Chief Financial Officer Sean Aggarwal, Chief Marketing Officer Kira Wampler, and President of Market Leader Ian Morris. During the analyst day, Trulia detailed its previously announced $45 million 2014 marketing plan, including what drove the company to announce the plan, the primary advertising channels it will invest in, and why Trulia believed $45 million was an appropriate amount of spending. Trulia also reiterated the value proposition its advertising product and Market Leader CRM provides to agents. The…
Lagardere reported soft third-quarter sales on Wednesday, as like-for-like revenue fell 0.4% to EUR 1,963 million.
Daimler missed the Street’s third-quarter earnings per share consensus of EUR 1.13 by EUR 0.08. Year-over-year margins continue to tighten on weaker European volume as well as launch costs. During the quarter, European car and truck volume declined 4.3% and 11.1%, respectively. Vehicle launches this year have included the GLK compact sport-utility vehicle, the G-Class SUV and the new A-Class as well as a completely new market entry, the CLS Shooting Brake. Accounting for the time value of money, the fair value in our discounted cash flow model had risen to EUR 73 per share. However, after lowering our 2012…
Citigroup reported net income of $4.2 billion, or $1.34 per share, for the second quarter. The bank’s results were broadly in line with expectations, but expected to increase the $45 fair value slightly in the near future as a result of the time value of money since our last update and some minor increases in non-interest income expectations. Most importantly, Citigroup’s capital ratios remain solid given the still-changing regulatory environment. The company’s internally estimated Basel III Tier 1 common ratio stood at 10% at the end of the quarter, while its estimated Basel III Supplementary Leverage ratio was just under…