NimbleTV Acquisition Breathes New Life Into Synacor
Synacor Makes For A Tasty Takeout Target
Synacor: Manipulation Subsides, Go Long?
Jan. 9, 2015, 1:58 PM
Dec. 26, 2014, 2:35 PM
- Synacor (NASDAQ:SYNC) has blasted off on volume (1.45M shares) that's over 20x a 3-month daily average of 70K. Small-cap newsletter writer Sid Riggs has reportedly provided a favorable mention.
- Activists JEC Capital and Ratio Capital have been pushing Synacor to put itself on sale. Synacor announced on Oct. 1 JEC/Ratio had "abandoned discussions" with the company.
Dec. 26, 2014, 1:03 PM
Dec. 2, 2014, 2:33 PM
- Envivio's (NASDAQ:ENVI) Q3 EPS of -$0.15 missed by $0.07, and revenue of $9M (-23.5% Y/Y) missed by $3M. Its cash balance fell by $4.2M Q/Q to $37.9M.
- The Q3 performance was blamed on "softening macro-economic conditions within EMEA, and customer consolidation in the U.S." The latter could be a reference to the AT&T/DirecTV deal.
- Envivio promises "significant wins" with tier-1 U.S. carriers will help right the ship. A new tier-1 customer was added in Q3.
- Fellow TV Everywhere tech provider Synacor (NASDAQ:SYNC) is also lower.
- Q3 results, PR
Nov. 17, 2014, 12:33 PM
Oct. 29, 2014, 12:38 PM
- Scott Murphy, chief investment officer at Advantage Capital Partners, has joined Synacor's (NASDAQ:SYNC) board. Advantage owns an 8% stake in the TV Everywhere software provider.
- The appointment comes four weeks after Synacor said activist investors JEC Capital and Ratio Capital had "abandoned discussions" with the company, after previously calling on Synacor to look for a buyer.
Sep. 30, 2014, 4:25 PM
- Synacor (NASDAQ:SYNC) is laying off ~70 employees, or 20% of its workforce. The company suggests its R&D ops will be affected.
- The TV Everywhere software provider is reiterating Q3 revenue and adjusted EBITDA guidance, as well as full-year revenue guidance. But full-year adjusted EBITDA guidance (excludes restructuring costs) has been hiked to -$1M to breakeven from -$2.5M to -$1M.
- More details will be given during Synacor's Oct. 30 earnings CC. The job cuts come two months after Himesh Bhise was named CEO, and a week after COO Scott Bailey's departure was announced.
Aug. 12, 2014, 6:20 PM
- Synacor (NASDAQ:SYNC) expects Q3 revenue of $25M-$26M vs. a $25.3M consensus. Full-year guidance is for revenue of $100M-$103M vs. a $102.6M consensus.
- Q2 adjusted EBITDA was -$1.2M. Synacor has cut its full-year adjusted EBITDA guidance to -$2.5M to -$1M from $2M-$5M.
- Search/display ad revenue -14% Y/Y to $18.5M. Subscription revenue +8% to $5.7M. Unique visitors fell to 17.9M from 19.7M in Q1, search queries to 130M from 154M. Ad impressions grew to 8.9B from 8.6B.
- GAAP costs/expenses +5% Y/Y to $27.6M. Synacor ended Q2 with $25.7M in cash, down from $33M at the end of Q1.
- Q2 results, PR
Jun. 27, 2014, 1:25 PM
- In response to an open letter from activists JEC Capital and Ratio Capital calling for Synacor (SYNC -3.7%) to put itself on sale, the company says it remains focused on "strategic priorities" that include developing new mobile, personalized homepage, TV Everywhere, and cloud authentication solutions.
- Synacor jumped on June 17 after JEC and Ratio disclosed a 9.8% combined stake in a joint 13D, and stated they plan to talk with Synacor's board about several issues.
Jun. 17, 2014, 3:58 PM
- JEC Capital (a well-known activist) and Ratio Capital have jointly filed a 13D in which they declare a 9.8% combined stake in Synacor (SYNC +5.6%), and state they plan to talk with the board about "the ongoing search for a new [CEO], the strategic direction and prospects of the Corporation, and the capital structure of the Corporation."
- Shares have popped after closing yesterday near a 52-week low of $2.12. The TV Everywhere software provider still trades at a small fraction of its 2012 highs.
Mar. 5, 2014, 5:47 PM
Mar. 5, 2014, 4:21 PM
- Ron Frankel, Synacor's (SYNC) CEO since 2001, will step down once a successor is found. He'll remain on the company's board and "continue as an advisor."
- Synacor expects Q1 revenue of $24M-$25M (below a $28.3M consensus) and adjusted EBITDA of -$0.7M to -$1.2M. Full-year guidance is for revenue of $100M-$105M (below a $119.4M consensus) and adjusted EBITDA of $2M-$5M (down from a 2013 level of $6.5M).
- The TV everywhere software provider is launching a $5M buyback, good for repurchasing 6% of shares at current levels.
- Q4 average monthly unique visitors fell by 300K Y/Y to 20M. Search queries -30% to 158M, ad impressions -17% to 9.7M.
- SYNC +1.8% AH. Q4 results, PR.
Feb. 13, 2014, 11:56 AM
- The investors clearly have their doubts regulators will approve a Comcast/Time Warner Cable merger, cable infrastructure/set-top vendor Arris (ARRS +4.9%) and TV Everywhere software provider Synacor (SYNC +3.4%) are both rallying on hopes a post-merger Comcast will direct more capex their way.
- Jefferies calls a Comcast/TWC deal a "very positive event" for Arris, given the company's strong relationship with Comcast, its relatively low set-top/infrastructure share at TWC, and the potential for Comcast to ramp capex after the deal closes.
- Arris, which reports in six days, rallied yesterday thanks to a Brean PT hike, but gave up its gains following a Bloomberg report stating an Apple TV set-top supporting pay-TV content is on tap, and that talks are ongoing with TWC.
- Jefferies declares itself unconcerned about Apple's impact on Arris, arguing it isn't clear Apple's box will fully replace a traditional set-top and that Comcast remains committed to its X1 platform.
- Arris is gaining even though rival Cisco has reported a 20% Y/Y drop in service provider video orders, thanks largely to plunging set-top sales. Cisco says it has been walking away from some low-margin set-top deals.
Nov. 5, 2013, 5:44 PM
Nov. 5, 2013, 5:39 PM
- Synacor (SYNC) expects Q4 revenue of $28M-$29M, in-line with a $28.3M consensus. Adjusted EBITDA is expected to total $1.3M-$1.8M, up from Q3's $0.9M and down from $3.5M a year ago. Shares +8.3% AH. (Q3 results, PR)
- Enphase Energy (ENPH) expects Q4 revenue of $62M-$65M, below a $68.2M consensus. Shares -3.6% AH. (Q3 results, PR)
- Imperva (IMPV) expects Q4 revenue of $41M-$42M and EPS of $0.10-$0.11 vs. a consensus of $41.3M and $0.16. The security software vendor's deferred revenue balance rose 9% Q/Q and 37% Y/Y to $52.6M. Shares +6.5% AH. (Q3 results, PR)
Nov. 5, 2013, 4:17 PM
- Synacor (SYNC): FQ3 EPS of -$0.01 beats by $0.03.
- Revenue of $26.6M beats by $1.18M. Shares +7.3% . (PR)
Synacor, Inc. provides technology based services. The company is the technology development, multiplatform services and revenue partner for video, Internet and communications providers, and device manufacturers. Its technology offers solutions by providing their consumers access to online... More
Industry: Internet Information Providers
Country: United States
Other News & PR