Alternative Activist • 10 Comments
Tue, May 3, 12:48 PM
Apr. 16, 2015, 10:21 AM
- "After extensive discussions with interested parties, the interests expressed were unlikely to lead to an acquisition of the entire Company and did not present an attractive alternative to the Company's stand-alone plan," says Carbonite (NASDAQ:CARB). "As a result, the board of directors unanimously determined that it is in the best interest of Carbonite and its shareholders to continue its present strategic course..."
- Carbonite's decision comes 2 weeks after J2 Global stated it's only interested in buying Carbonite's endpoint protection service ops, and not the entire company.
- Overshadowed by the strategic review announcement: Carbonite now expects Q1 revenue to top a prior guidance range of $31.9M-$32.1M and EPS to beat prior guidance of -$0.07 to -$0.09; consensus is at $32M and -$0.08.
- Full-year revenue and EPS are expected to be "within or above" prior guidance ranges of $137M-$138M and $0.08-$0.10. Q1 results are due on April 28.
Apr. 2, 2015, 12:45 PM
Apr. 2, 2015, 10:23 AM
- In a 13D filed today , J2 Global (JCOM +0.3%) states it's willing to start talks regarding an acquisition of Carbonite's (NASDAQ:CARB) endpoint protection service business, but is no longer interested in the rest of the company (integration difficulties are cited).
- J2, which owns a 9.3% stake, is also withdrawing its board slate for Carbonite's upcoming annual meeting. It still thinks Carbonite should pursue a "value maximizing transaction."
- J2 made a $15/share tender offer for Carbonite in December. Carbonite officially rejected it a couple weeks later.
Apr. 2, 2015, 9:13 AM
Dec. 3, 2014, 12:45 PM
Dec. 3, 2014, 9:58 AM
- Cloud backup service provider Carbonite (CARB +23.3%) says it has received an unsolicited $15/share ($404M) buyout offer from J2 Global (JCOM +1.6%). Carbonite's board will review the proposal.
- Carbonite has soared to $14.49 on the news. Back in 2012, J2 offered to buy Carbonite for $10.50/share. The company has acquired a string of Internet services firms (I, II) in recent years.
Apr. 15, 2014, 5:42 PM
Jan. 30, 2014, 12:45 PM
Oct. 31, 2013, 9:59 AM
- Atmel (ATML +9.1%) has been upgraded to Outperform by Wedbush after beating Q3 revenue estimates and adding $300M to its buyback plan.
- Microchip (MCHP +5.8%) has been upgraded to Buy by Mizuho in the wake of its FQ2 beat.
- Cavium (CAVM +6.5%) has been upgraded to Outperform by Oppenheimer following its Q3 beat.
- Arris (ARRS +2.7%) has been upgraded to Overweight by Stephens after beating Q3 estimates and issuing solid guidance.
- UMC (UMC -1.9%) has been cut to Neutral by BofA a day after posting its Q3 report.
- MTS (MBT -2%) has been cut to Neutral by Citi, and to Sell by UBS.
- Jabil (JBL -0.9%) has been cut to Buy from Strong Buy by Needham.
- Itron (ITRI -5.6%) has been cut to Neutral by Janney, and upgraded to Hold by Brean, following its Q3 miss.
- Garmin (GRMN -4.2%) has been cut to Sector Perform by Raymond James a day after posting its Q3 results.
- MagnaChip (MX -1.2%) has been cut to Neutral by UBS two days after delivering mixed Q3 results.
- Digital Realty (DLR -2.2%) has been cut to Hold by Stifel two days after providing soft guidance. Raymond James downgraded shares yesterday.
- Carbonite (CARB -9.1%) has been cut to Sector Perform by Pac Crest after providing below-consensus revenue guidance to go with a Q3 beat.
Sep. 12, 2013, 12:45 PM
Nov. 6, 2012, 9:25 AM
Carbonite (CARB) +11.8% to $9 after disclosing J2 Global (JCOM) owns a 9.9% stake, and proposed to buy the entire company for $10.50/share. Carbonite, which went public at $10 last year, rejected the offer, but the stake suggests J2 could make another bid. Carbonite's cloud data backup services would complemented J2's hosted communications services.| Nov. 6, 2012, 9:25 AM
May 9, 2012, 11:41 AM
Mar. 14, 2012, 11:23 AMCarbonite (CARB +4.1%) gets a boost from positive comments out of Canaccord this morning, saying the sell-off has been overdone and the Street is likely to start defending the stock now that the research restriction is off. The firm adds that Carbonite is one of the fastest growing SaaS companies in the space, has a new advertising campaign underway and its competitive dynamics are misunderstood.
| Mar. 14, 2012, 11:23 AM | 1 Comment
Feb. 9, 2012, 4:54 PMCarbonite (CARB): Q4 EPS of -$0.21 beats by $0.02. Revenue of $17.3M (+49.1% Y/Y) in-line. Shares +1.7% AH. (PR) | Feb. 9, 2012, 4:54 PM
Oct. 25, 2011, 12:54 PM