Seeking Alpha

Breaking News

  • Thursday April 24, 10:40 PM ET
    • After initially trading higher following its Q1 revenue beat, Amazon (AMZN) finished AH trading up just 0.3%. A possible factor: CFO Tom Szuktak shared on the CC Amazon's Y/Y paid unit growth fell to 23% in Q1 from 25% in Q4 and 29% in Q3. Slowing unit growth "remains a yellow flag since [the metric] is a better proxy than revenues for the overall velocity of the business," says Baird's Colin Sebastian.
    • While paid unit growth slowed, "Other" North American revenue, a segment dominated by Amazon Web Services, saw revenue growth accelerate to 60% from 52% in Q4. For now, the segment only accounts for 6% of revenue.
    • Thanks to AWS and 28% EGM growth, North American sales growth (+26%) was roughly even with Q4. International sales growth picked up to 18% from 13%, with 27% EGM growth offsetting 4% media growth.
    • AWS and 3rd-party fulfillment growth helped gross margin rise 230 bps Y/Y to 28.8%. But fulfillment spend rose to 11.7% of revenue from 11.1% a year ago, tech/content spend (boosted by video licensing and AWS capex) to 10% from 8.6%, and marketing to 4.4% from 3.9%.
    • Meanwhile, the WSJ reports Amazon is quietly testing its own delivery network (trucks and all) in San Francisco, L.A., and NYC. It's probably not a coincidence all three markets are ones in which the AmazonFresh same-delivery has launched, or is expected to.
    • Q1 results, guidance/details, PR
    [Tech, Consumer, Earnings] 1 Comment
  • Thursday April 24, 7:23 PM ET
    • Plug Power (PLUG) sold 22.6M shares - far more than the 15M it had filed to sell - at $5.50 each, in its biggest stock sale ever today, showing continuing investor demand for some smaller tech companies despite the fuel cell company's turbulent trading history.
    • The offering raised $124.3M before the potential sale of additional shares to underwriters; PLUG has conducted five stock offerings since the start of last year, each raising $30M at most.
    • PLUG brought in Morgan Stanley to lead the offering with Barclays while demoting Cowen & Co., the banker on its last three equity sales, to a passive role in favor of underwriters that rank among the top 10 by market share in arranging U.S. stock sales.
    [Energy] 33 Comments
  • Thursday April 24, 7:04 PM ET
    • Freescale (FSL) has hired Dan Durn, formerly the CFO of #2 chip foundry Globalfoundries, to be its new CFO, starting in June. Durn will replace Alan Campbell, who announced plans to retire in January.
    • The chipmaker has guided in its Q1 report for Q2 revenue of $1.14B-$1.2B, above a $1.13B consensus. Gross margin is expected to rise 50-75 bps from a Q1 level of 44.8%.
    • FSL -1.7% AH in spite of the guidance and a Q1 beat. Shares went into earnings trading within a hair's breadth of their 52-week high of $26.
    • Q1 results, PR
    [Tech, Earnings, On the Move] Comment!
  • Thursday April 24, 7:02 PM ET
    • Weatherford (WFT) pushes ahead with its corporate downsizing, saying in its Q1 earnings report that it has so far identified more than 6,600 positions for elimination and completed ~56% of its planned workforce, with an estimated pretax annualized savings of $263M.
    • WFT also says it began the process of closing 20 underperforming operating locations in various countries.
    • Reaffirms guidance for FY 2014, seeing EPS of $1.10-$1.20 vs. $1.00 analyst consensus estimate.
    [Energy, Earnings] Comment!
  • Thursday April 24, 6:48 PM ET
    • Along with its Q1 results, Itron (ITRI) announces CFO Steven Helmbrecht is leaving at year's end. A search will commence for a replacement.
    • Helmbrecht, 50, has been Itron's CFO since 2005.
    • Itron also announces it has won a deal to provide Mitsubishi Electric with smart grid software for a 10M-unit smart meter deployment with Japan's 3rd-largest utility.
    [Tech] Comment!
  • Thursday April 24, 6:46 PM ET
    • Basic Energy Services, Inc. (BAS): Q1 EPS of -$0.05 beats by $0.04.
    • Revenue of $336.8M (+10.6% Y/Y) beats by $8.76M.
    • Press Release
    [Earnings, Breaking News, Energy] 1 Comment
  • Thursday April 24, 6:45 PM ET
    • Forum Energy Technologies (FET): Q1 EPS of $0.40 beats by $0.02.
    • Revenue of $404M (+8.3% Y/Y) beats by $0.83M.
    • Press Release
    [Earnings, Breaking News, Energy] Comment!
  • Thursday April 24, 6:44 PM ET
    • The world's top three platinum producers - Amplats (AGPPY, AGPPF), Impala Platinum (IMPUY, IMPUF) and Lonmin (LNMIF, LNMIY) - say they will bypass the union representing tens of thousands of South African miners and offer a new wage deal directly to their employees, after talks aimed at ending three months of strikes hit an impasse.
    • Although the move doesn't bring an end to negotiations with the AMCA union, it could further damage already strained relations between management and strike leaders.
    [Commodities] Comment!
  • Thursday April 24, 6:37 PM ET
    • Briggs & Stratton Corporation (BGG): FQ3 EPS of $0.81 misses by $0.07.
    • Revenue of $628.4M (-1.4% Y/Y) beats by $1.17M.
    • Press Release
    [Earnings, Breaking News] Comment!
  • Thursday April 24, 6:35 PM ET
    • Marketo (MKTO) expects Q2 revenue of $33M-$34M and EPS of -$0.30 to -$0.32 vs. a consensus of $32.3M and -$0.29. Full-year guidance is for revenue of $138M-$141M and EPS of -$1.00 to -$1.06, above a consensus of $134.6M and -$1.12. The company's deferred revenue balance rose 10% Q/Q and 86% Y/Y in Q1 to $45.6M. Shares +9.5% AH. (Q1 results, PR)
    • HomeAway (AWAY) expects Q2 revenue of $109M-$111M (above a $108.2M consensus) and adjusted EBITDA of $28M-$29M. 2014 guidance is for revenue of $435M-$442.5M (above a $433.7M consensus) and adjusted EBITDA of $117M-$122.5M. Shares -1.9% AH. (Q1 results, PR)
    • KLA-Tencor (KLAC) guides on its CC for FQ4 revenue of $700M-$760M and EPS of $0.75-$0.95, below a consensus of $832.5M and $1.16. The company blames delays among clients in ramping production of chips featuring 3D transistors, and (like Lam Research) notes 3D NAND production is being pushed out. Shares -5.1% AH. (FQ3 results, PR)
    [Tech, Earnings, On the Move] Comment!
More Breaking News »

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