Wednesday, May 9, 2012, 7:37 AMAboveNet (ABVT): Q1 EPS of $0.68 beats by $0.01. Revenue of $128M (+11.6% Y/Y) beats by $4M. (PR)
Comment![Earnings]
Wednesday, March 28, 2012, 12:25 PM
EarthLink (ELNK -0.4%) receives a positive Barron'swrite-up. The paper touts EarthLink's low valuation (1.1x price-to-book) and 2.5% dividend yield, and notes recent acquisitions have helped it diversify beyond its declining dial-up ISP business, which now accounts for only 25% of revenue. In addition, EarthLink trades at a much lower valuation than the one Zayo Group is paying for AboveNet (ABVT).
Comment![Tech, Quick Ideas, M&A]
Monday, March 19, 2012, 8:18 AM
AboveNet (ABVT) +13.5% premarket after agreeing to be bought by Zayo Group for ~$2.2B. Zayo will pay $84.00/share in cash for ABVT, a 13% premium over last Friday's closing price. As part of the deal, GTCR, a Chicago-based P-E firm, will make an equity investment in Zayo.
Comment![Breaking News, M&A, Tech, On the Move]
Wednesday, February 29, 2012, 11:14 AM
AboveNet (ABVT -1%) trades lower after beating on its Q4 results, but issuing weaker-than-expected 2012 guidance. Brigantine cuts the shares to Neutral on the report, citing excessive valuation.
Comment![Earnings, Tech]
Tuesday, February 28, 2012, 7:49 AMAboveNet (ABVT): Q4 EPS of $0.90 beats by $0.29. Revenue of $122M (+12.5% Y/Y) in-line. (PR)
Comment![Earnings]
Monday, September 26, 2011, 10:00 AM
Shares of AboveNet (ABVT +5.5%) get a lift from Raymond James with an upgrade to Strong Buy from Outperform. The company looks to benefit from the cloud market indirectly with a new agreement with Amazon (AMZN +2.1%) allowing customers to circumvent the internet and connect directly to Amazon's data centers via its fiber optic network.
Comment![Tech, On the Move]
Monday, July 11, 2011, 4:39 PM
AboveNet (ABVT -4.5%) dipped today after another DealReporter story says private-equity interest in buying the company has stalled. The company retained JPMorgan in May to explore a sale, and since that time has seen its stock frequently whipsawed by buyout speculation.
Comment![Tech, On the Move]
Tuesday, May 24, 2011, 3:03 PM
AboveNet (ABVT +10.3%) shares surge after DealReporter says the provider of fiber-optic lines for businesses has retained JPMorgan to explore a possible sale.
Comment![M&A, On the Move]