MARKET CURRENTS
real-time news and commentary for investors
MARKET CURRENTS
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Friday, May 17, 2013
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8:08 PM Yahoo (YHOO) update: The board will meet Sunday night to decide on a $1.1B all-cash deal for Tumblr, according to AllThingsD. (earlier) 1 Comment
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12:18 PM Marketo's (MKTO) IPO is nearly as good as Tableau's. Shares opened at $20 and are currently moving at $20.24, up 55.7% from an IPO price of $13. That gives the cloud marketing automation software vendor and occasional subject of Salesforce buyout speculation a valuation of $722M, or 12x 2012 sales. (S-1) Comment!
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11:33 AM U.S. Cellular (USM +5.5%) spikes higher after announcing a $5.75/share special dividend that will be paid on June 25 to shareholders on record as of June 11. The announcement comes as USM states it has closed its $480M deal to transfer spectrum and 420K customers to Sprint. Comment!
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10:41 AM Tableau's (DATA) IPO is as good as advertised. Shares opened at $47 and are currently at $49.82, up 61% from a raised IPO price of $31. That gives the analytics/data visualization software vendor a valuation of $2.86B, or a whopping 22x 2012 revenue. Rival Qlik (QLIK +4.6%) is up in sympathy - a bullish BMO note might also be helping. (S-1) (Pac Crest) Comment!
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Thursday, May 16, 2013
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4:36 PM J. C. Penney (JCP): Q1 EPS of -$1.31 misses by $0.35. Revenue of $2.64B misses by $0.08B. Shares +1.4% AH. (PR) 4 Comments
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4:22 PM Cosi (COSI): Q1 EPS of -$0.15 misses by $0.10. Revenue of $21.56M misses by $1.81M. (PR) 2 Comments
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4:19 PM Chimera Investment (CIM) names Robert Colligan as CFO to replace A. Alexandra Denehan who is resigning but staying on as the company's principal financial and accounting officer. Colligan was previously Controller at Starwood Capital. Investors, of course, continue to await Chimera's quarterly reports from 2012 Q1 on, and the 2012 annual report. (PR) 1 Comment
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