All Posts Tagged Tag: ‘Financial’
There are six days to go until Google announces its first quarter financial results, and as people begin to weigh in with predictions, the analysts at investment banking firm Evercore are optimistic that things will go well. Indeed, Evercore upgraded Google and raised its price target today.
With respect to the first half of that development, Swetha Gopinath reported, "Evercore Partners upgraded Google Inc to ‘equal-weight’ from ‘underweight’ citing positive advertising trends on strong e-commerce spending but said Facebook remains a concern."
Groupon announced that it has completed its $950 million round of financing, which has been discussed in the tech press over the last couple weeks. The company says it will use the funds to fuel global expansion, invest in technology, and provide liquidity for employees and early investors.
BGC Partners, a firm with roots dating back to 1945, has new confidence in eBay. Today, BGC upgraded its outlook on eBay’s stock from hold to buy, and raised its price target by 25 percent, as well.
The new price target is $35, up from $28. That’s not a huge vote of confidence, considering that eBay’s stock is currently trading at $27.77, but at least shows BGC doesn’t think eBay is stagnant.
Everyone awed by Facebook’s $50 billion valuation may want to break away for at least a moment to consider Amazon’s future. An analyst with Morgan Stanley has predicted that Amazon will generate an impressive $100 billion in revenue in 2015.
To put that in perspective: Amazon reported $7.56 billion in revenue during the third quarter of 2010, $6.57 billion during the second quarter, $7.13 billion during the first quarter, and $9.52 billion during the fourth quarter of 2009 (totaling $30.78 billion), so $100 billion in a single year will represent a huge increase.
It’s a happy new year indeed for Mark Zuckerberg and everyone with financial ties to Facebook. Goldman Sachs and Digital Sky Technologies have invested $500 million in the company, according to a new report, and in doing so, valued it at $50 billion.
A couple points of reference: it was only 38 months ago that Microsoft drew laughter by paying $240 million for a 1.2 percent stake in Facebook, valuing it at $15 billion. And Yahoo and eBay just have market caps of about $21.7 billion and $36.3 billion, respectively.
Anyone who’s looking to invest a little Christmas money might want to listen up. While we’re neither backing nor attacking this advice, Hudson Square Research has initiated coverage on Google and Yahoo, labeling them both a "buy" and setting price targets significantly above the stocks’ current prices.
The company that supposedly turned down a $6 billion acquisition offer from Google has now given another sign that it has some very interesting financial plans. Groupon announced today that it’s secured Jason Child, a high-ranking exec at Amazon, as its chief financial officer.
Child held the title "Vice President of Finance" for Amazon’s international business prior to this move, and that role put him in within a department worth about $14 billion. So Child has valuable experience with large, public companies that operate in more than one country.
Shareholders may grumble, but there’s perhaps a bit of good news regarding the four percent of Yahoo’s employees who were laid off last week. Yahoo’s calculated the pre-tax cost of the layoffs at somewhere in the neighborhood of $35 million.
Early reviews of Hulu Plus weren’t too favorable, with most folks coming to the conclusion that Netflix was a better deal. The newer service has cut its price and improved its content selection, however, and as a result, apparently caught on to the point that it helped Hulu earn an unanticipated $20 million.
Less than 24 hours after Twitter raised $200 million in funding at a valuation of $3.7 billion, there’s good news about Facebook on the financial front, as well. A report’s claimed that Facebook will pull in a whopping $2 billion in sales revenue this year.
For most people with a financial interest in Twitter, these are going to be some happy holidays indeed. The company’s confirmed a new round of funding, and reports indicate that it raised $200 million at a valuation of a stunning $3.7 billion.
Dick Costolo confirmed on the Twitter Blog that Kleiner Perkins Caufield Byers was, as had been rumored, the leading force behind this round. Then other "existing investors" participated, too, according to Twitter’s new CEO.
Global financial services firm Morgan Stanley has a lot of confidence in Google. This morning, the organization added Google to its "Best Ideas" list, and also upped its price target on the search giant by an impressive $30.
That second change takes the price target Morgan Stanley’s established from $700 to $730 and signals some high expectations. Google’s stock was at $578.36 this morning before the market opened, meaning the $700 target already required an increase of 21.0 percent.
Digital Sky Technologies, the Russian investment firm that’s pretty well poured money into Facebook (and also funded Groupon and Zynga), apparently won’t be providing Twitter with any cash in the near future. A report’s indicated that Kleiner Perkins will instead be the organization leading a new round of funding.
While this pronouncement may be a little early, it looks like Facebook investors are in for a very merry Christmas indeed. The value of the company’s stock has continued to rise on the private market, and the company’s now supposed to be worth a whopping $50 billion, up from $41 billion earlier this month.
Oracle is reportedly being awarded $1.3 Billion from SAP, as the result of a jury’s verdict following an 11-day trial. The case dates back to 2007 when Orcale sued SAP for illegal downloading of its software for resale to Oracle customers, by TommorowNow, a company SAP acquired in 2005.
William Shatner is due a raise, a bonus, or both. This afternoon, Priceline – which has wisely used Shatner as its spokesman for years – posted its third-quarter earnings report, and it seems the company has lots more money to spread around than analysts expected.
Starting late yesterday, a fresh round of rumors began to circulate about a possible Yahoo-AOL deal. Then other sources and experts denied that anything’s taking place. But investors still seem to be excited about the concept, sending Yahoo and AOL’s stocks up a significant amount in early trading.
Earlier this morning, AOL delivered its third-quarter earnings report, and while there were significant problems, the company was able to impress investors. AOL’s stock is now up 6.05 percent, which is more than a decent way for it to start the day.
That increase is in part due to the fact AOL was able to report $563.5 million in total revenue, even though analysts thought the company would just report $557.0 million. Also, thanks to the sale of Kayak and ICQ, AOL managed to report $171.6 million in profit – a 132 percent year-over-year jump.
The three-month period ending September 30th – which Microsoft almost inexplicably refers to as the first quarter of its 2011 fiscal year – was good to the company. Microsoft shared its earnings report this afternoon, and it beat analysts’ estimates by a large margin.
The consensus estimate regarding revenue, for example, was $15.8 billion. Microsoft reported $16.2 billion, instead. Then, in terms of earnings per share, Microsoft was able to report $0.62 instead of $0.55.
Google has added multiple sign-in to Google Finance. This means users can now use more than one Google account in the same browser session to access Google Finance.
The service that provides eBay with a good chunk of its revenue now has a new chief financial officer. eBay announced today that Patrick Dupuis, formerly of contact center outsourcing specialist Sitel, is taking the CFO position at PayPal.
If that seems like an odd career path, the fact that BJC Healthcare, a nonprofit healthcare organization, employed Dupuis prior to Sitel may send your eyebrows even higher. Dupuis did serve as CFO at both those outfits, however.
This afternoon, Amazon delivered its third quarter earnings report, and just about everything pertaining to the period ending September 30th was positive. Unfortunately for Amazon, shareholders are sending the stock lower in after-hours trading due to lower margins and concern about the fourth quarter.
We’ll start with the good news, at least. Amazon reported $7.56 billion in revenue versus estimates of $7.35 billion. Earnings per share hit $0.51, too, rather than $0.48.
This afternoon, eBay delivered its third quarter earnings report, and it’s a good bet that the company was eager to do so. eBay beat analysts’ forecasts for the third quarter, gave better-than-expected guidance regarding the fourth quarter, and also discussed an interesting stock buyback program.
Let’s start with the third quarter results. eBay managed to report earnings per share of $0.40, which is a significant improvement compared to the $0.37 analysts predicted. It also earned $2.25 billion in revenue rather than the expected $2.18 billion.
The third quarter was not unkind to Yahoo, judging from a just-released earnings report. Yahoo managed to meet or beat analysts’ forecasts in most respects, and its stock is now heading up in after-hours trading as a result.
To hit the highest notes first: Yahoo reported earnings per share of $0.29, which is great compared to the $0.13 it reported in the third quarter of 2009 and compared to predictions of $0.15. (This was possible because the sale of HotJobs contributed $0.13 to the Q3 2010 total.)
Apple released its financial results today, for its fiscal 2010 fourth quarter (ending 09/25). As you might’ve guessed, they weren’t bad. The company posted record Mac, iPhone and iPad sales, and its highest revneue and earnings ever.
Apple posted $20.34 billion in revenue and net quarterly profit of $4.31 billion ($4.64 per diluted share). This is compared to revenue of $12.21 billion and net quarterly profit of $2.53 billion for the same period last year. Gross margin was 36.9% compared to 41.8% last year.
A whopping 277 days have passed since the last time Google’s stock closed above $600, a fact of which we’re sure at least a few shareholders were all too aware. But fortunately for both investors and the company itself, Google’s now reset the clock, closing above $600 again today.
It’s time again for Google’s shareholders to toss some confetti and raise glasses of not-particularly-cheap champagne. The search giant released its third quarter earnings report this afternoon, and it beat analysts’ forecasts by an impressive amount.
Google was supposed to report a net revenue figure in the neighborhood of $5.25 billion. Instead, the company was able to report $5.5 billion. Then it scored an even bigger victory in terms of earnings per share, managing to generate $7.64 rather than $6.67.
Today’s big financial event will be Google’s third quarter earnings report. Or perhaps Yahoo’s wild ride due to acquisition rumors. But there’s also news concerning Microsoft, as respected investment bank Barclays Capital has lowered its price target on the company’s stock.
Facebook CEO Mark Zuckerberg may be growing tired of having outsiders buy up small pieces of his company. Today, there’s word that Facebook has imposed a rather steep fee on private market stock sales.
Consider for a moment that E*Trade’s standard fee for a stock or options trade is $9.99. There’s even a sort of bulk discount if you exceed 150 trades per quarter, making the per-transaction fee $7.99.
There are three days to go until Google announces its third quarter financial results, and this morning, the search giant benefited from another show of support. Jefferies & Co. analyst Youssef Squali raised his price target.
Squali now believes Google’s capable of hitting $680, as opposed to just $660 (his previous price target). For reference, Google’s stock is currently hovering around $541, so that would represent a nice increase of about 25 percent.
It’s possible that we’re at last digging out of the recession, given that the Dow’s flirting with 11,000 today. It’s possible, too, that the people behind Hulu are ready to take advantage of this fact, as a new rumor indicates the company could go public early next year.
Update: As far as availability, PayPal tells us, "Mobile Check Capture is currently available in the US only. The underlying technology that makes this possible is based on legislation passed by US Congress in 2004 as a result of the 9/11 attacks. The legislation, called "Check Clearing for the 21st Century," or "Check 21," gives US financial institutions the opportunity to clear checks using imaging technology rather than transporting the paper itself.
Would-be Facebook investors will have to wait a while before the company has a ticker symbol like GOOG, MSFT, and YHOO. Peter Thiel (re)confirmed this afternoon that Facebook won’t go public until 2012 at the earliest.
Bloomberg reported the same thing in July, meaning this isn’t exactly breaking news, but there is a difference between three anonymous sources and Thiel. Thiel’s about as close to Facebook as anyone other than Mark Zuckerberg can get.
IBM announced that it has entered an agreement to acquire Blade Network Technologies, a company specializing in software and devices for data and transaction routing.
Blade provides blade server and top-of-rack switches as well as software to virtualize and manage cloud computing and other workloads. It counts over half of Fortune 500 companies among its customers.
Deloitte and the National Association of State CIOs (NASCIO) are sharing the results of a joint Cyber Security Survey, finding that State Chief Information Security Officers (CISOs) lack the funding, programs, resources and tools to adequately protect their citizens’ data, especially when compared to their counterparts who serve private sector enterprises.
IBM announced it is acquiring Netezza at $27 per share or approximately $1.7 billion, to expand its business analytics initiatives.