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Tue, Aug. 26, 8:48 AM
Mon, Aug. 25, 5:35 PM
Tue, May. 13, 9:56 AM
- Solera Holdings (SLH +1.3%) opens higher after agreeing to acquire the insurance and services division of Pittsburgh Glass Works for $280M.
- Solera, a global provider of software and services to the automobile insurance, expects the deal to help it become a comprehensive automobile repair and claims management company.
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Wed, Feb. 5, 5:02 PM| Comment!
Dec. 3, 2013, 9:27 AM
- Solera Holdings (SLH) hikes its FY2014 guidance to reflect the completion of the Service Repair Solutions JV, its $850M bond offering, and the redemption of the same amount of its senior notes due 2018.
- FY2014 revenue is now seen at $978M-$986M from the previous $898M-$906M (and above consensus of $962.1M), EPS at $2.61-$2.69 from the previous $2.41-$2.48 ($2.60), and EBITDA at $390M-$397M from the previous $366M-$373M.
- Shares remain unchanged pre-market.
Nov. 7, 2013, 10:19 AM
- Shares of Solera (SLH +12.5%) climb after yesterday's FQ1 beat and an upgrade from Piper Jaffray to Overweight with a PT of $70.
- Management hiked its FY2014 guidance to revenue of $898M-$906M from $882M-$890M (and vs. consensus of $890.5M) and EPS of $2.41-$2.48 from $2.28-$2.35 ($2.90).
- The company cited signs of recovery in Western European markets as the cause for the hike, but "maintains [its] cautiously conservative stance."
Nov. 6, 2013, 4:54 PM
Oct. 18, 2013, 11:43 AM
- Solera (SLH +0.3%) indirect subsidiary Audatex prices an additional $510M in 6% senior notes due 2021 and $340M in 6.125% senior notes due 2023. 2021 notes were priced at 101.75%, 2023 at 100%.
- Audatex intends to use proceeds to redeem the entire outstanding sum ($850M) of its 6.75% senior notes due 2018.
Oct. 4, 2013, 11:33 AM
- Solera (SLH -0.4%) purchases a minimum 50% equity interest in Service Repair Solutions from P-E firm Welsh, Carson, Anderson & Stowe for $289M with a call option to buy the firm's remaining shares in the JV (and a reciprocal put option held by the P-E firm). The transaction is expected to close in Q2 of FY2014.
- The move continues a trend of vertically-oriented integration for the insurance software provider. SRS's diagnostic and repair database is used by ~50K repair shops in the U.S. and Canada.
- Management expects the transaction to generate revenue of $80M-$82M in FY 2014 and EPS of $0.20-$0.22.
Sep. 17, 2013, 11:18 AM
Aug. 22, 2013, 4:17 PM
Jul. 1, 2013, 9:22 AMA roundup of tech analyst ratings changes: 1) BlackBerry (BBRY) has been downgraded to Equalweight by Morgan Stanley. 2) Broadcom (BRCM) has been downgraded to Neutral by Lazard. 3) Marvell (MRVL) has been upgraded to Buy by Lazard. 4) F5 (FFIV) has been upgraded to Buy by Needham. 5) Avid (AVID) has been downgraded to Neutral by JPMorgan. 6) Solera (SLH) has been upgraded to Outperform by William Blair. BBRY -4.1%, adding to Friday's 27% drop. BRCM -0.6%. MRVL +1.4%. FFIV +2%. | 2 Comments
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