Thu, Mar. 10, 11:56 AM
- A floor's out from under J2 Global (NASDAQ:JCOM), quickly down 7.7% as short firm Citron Research tweets that it's got a $27 price target on the stock.
- Citron says it's exposing "dirty secrets" of the company in its "most comprehensive work since [Valeant Pharmaceuticals]."
- A $27 price target is 62% below J2's close yesterday of $70.99.
Thu, Mar. 10, 11:55 AM
- J2 Global (JCOM -7.6%) has fallen sharply in the wake of a bearish Citron Research report (.pdf) the firm declares to be its "most comprehensive work" since last year's scathing report on Valeant.
- Citron: "The real story, exposed here for the first time, is a company spending a billion on a roll-up strategy with negative organic growth. J2 has been buying money-losing commoditized cloud computing companies, combining them with a non-performing digital media strategy to inflate its top line, as EBIDTA runs in place."
- The firm also argues the end of patent protections for J2's eFax business will remove its barriers to entry. Its target is $27.
Thu, Feb. 11, 12:49 PM
Dec. 9, 2015, 6:24 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.
Feb. 12, 2015, 5:36 PM
Feb. 12, 2015, 4:33 PM
- j2 Global (NASDAQ:JCOM): Q4 EPS of $0.98 beats by $0.08.
- Revenue of $167.1M (+21.1% Y/Y) beats by $7.28M.
- Shares +4.9%.
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.
May 8, 2014, 4:30 PM
- j2 Global (JCOM): Q1 EPS of $0.76 beats by $0.03.
- Revenue of $134.1M (+18.1% Y/Y) beats by $2.04M.
- Shares +4.6%.
Apr. 16, 2014, 9:55 AM
- Yelp (YELP +2.1%) has been upgraded to Buy by Citi.
- Cree (CREE +2%) has been upgraded to Buy by Needham ahead of its April 22 FQ3 report.
- Youku (YOKU +1.2%) has been upgraded to Neutral by Goldman.
- SouFun (SFUN +5.4%) has been upgraded to Buy by Goldman.
- Motorola Solutions (MSI -1.6%) has been cut to Neutral by Nomura a day after announcing the Zebra Technologies deal and issuing a Q1 warning.
- Control4 (CTRL +7%) has been upgraded to Strong Buy by Raymond James. Q1 results are due on May 1.
- Nimble Storage (NMBL +5.4%) has been upgraded to Buy by UBS.
- J2 Global (JCOM +7.1%) has been upgraded to Buy by Sidoti.
- Xoom (XOOM +1.4%) has been upgraded to Equal Weight by Evercore ahead of its April 22 Q1 report.
- Bitauto (BITA +9.1%) has been started at Outperform by Credit Suisse. Rival Autohome (ATHM +9.8%) has been started at Neutral, but is also up sharply.
- IPO underwriters have given A10 Networks (ATEN +3.7%) five bullish ratings and one neutral one.
Feb. 14, 2014, 9:13 AM
Aug. 8, 2013, 8:47 PM
- j2 Global (JCOM +4.4%) closes higher after its Q2 beat. The company set a new 52-week high earlier in the day ($50.13) before selling off slightly.
- EBITDA was $66.4M, up 39.8% Y/Y.
- Free cash flow was $66.2M, up 45.2% Y/Y.
- A $27M patent settlement lifted results, contributing $12.6M to revenue, $8M to FCF, and $0.17 to EPS.
- 2013 guidance was re-affirmed on the CC. j2 expects 2013 revenue of $510M-535M (consensus $517.3M) and EPS of $2.78-2.98 (consensus $2.86).
Feb. 13, 2013, 5:54 PM
Feb. 13, 2013, 5:17 PMj2 Global (JCOM): Q4 EPS of $0.70 beats by $0.09. Revenue of $102M (+19.9% Y/Y) beats by $10.12M. Shares +5.8% AH. (PR) | Feb. 13, 2013, 5:17 PM
Feb. 13, 2013, 5:16 PMJ2 Global Inc (JCOM) declares $0.2325/share quarterly dividend, 3.3% increase from prior dividend of $0.225. Forward yield 2.92%. For shareholders of record Feb. 25. Payable Mar. 04. Ex-div date Feb. 21. Shares +5.9% AH. (PR) | Feb. 13, 2013, 5:16 PM
Nov. 12, 2012, 11:11 AM
J2 Global (JCOM +2.7%) has acquired Ziff Davis, owner of PCMag.com, ExtremeTech, Geek.com, and other tech-oriented Web properties, for $167M in cash. The purchase is slightly off the beaten path for J2, a provider of hosted communications services, but the company notes it's both a major buyer of ads, and a seller via ad-supported sites such as eFax Free. Buying Ziff-Davis puts J2 into competition with GeekNet (GKNT -1.5%). J2 recently made an offer to buy cloud backup services firm Carbonite.| Nov. 12, 2012, 11:11 AM