Sep. 12, 2014, 12:45 PM
Sep. 12, 2014, 9:12 AM
Sep. 11, 2014, 5:35 PM
Sep. 11, 2014, 4:14 PM
- It's a cash and stock deal valued at about $2.3B or $35 per Conversant (NASDAQ:CNVR) share (vs. today's $26.71 close), and represents 10x Conversant's expected 2015 adjusted EBITDA. Consideration will be 52% Alliance Data Systems (NYSE:ADS) stock and 48% ($16.80) cash.
- ADS expects "substantial accretion" from the deal - about $0.50-$0.75 in core EPS in years one and two ... this without any expected revenue or cost synergies.
- Alliance CEO Ed Heffernan: "The acquisition 'bulks up' Alliance Data in digital marketing, which is experiencing the fastest secular growth."
- A conference call is set for 5:30 ET.
- Both stocks remain halted.
- Source: Press Release
Apr. 7, 2014, 5:36 PM
Feb. 12, 2014, 2:20 PM
- Conversant (CNVR +19.5%), formerly known as ValueClick, has soared to levels last seen in August after handily beating Q4 estimates and issuing strong guidance.
- The online ad services firm expects Q1 revenue of $138M-$144M and EPS of $0.38-$0.39. The revenue consensus, which doesn't account for the sale of Conversant's owned/operated sites business to IAC (closed on Jan. 10), is at $140.5M.
- It's worth noting that while the Q1 revenue consensus implies a 15.1% Y/Y revenue decline, Conversant is forecasting its continuing ops will see 3%-7% growth.
- Conversant's mainstay Media ops (72% of continuing revenue streams) grew 4% Y/Y in Q4 after declining 1% in Q3. Affiliate marketing sales rose 12% vs. 11% in Q3.
- Adjusted EBITDA rose 10% Y/Y, exceeding revenue growth of 6%.
- CC transcript
Feb. 11, 2014, 5:40 PM
Feb. 11, 2014, 5:27 PM
Nov. 5, 2013, 4:29 PM
- Along with its Q3 results, ValueClick (VCLK) is announcing it plans to sell its owned & operated (O&O) websites, which include properties such as Investopedia (an investor education site) and PriceRunner (a U.K.-based price comparison site) in order to focus on its ad network/tech businesses.
- O&O sites, now labeled as a discontinued business, had Q3 revenue of $28.9M and op. income of $4.5M. After factoring the unit's contribution, ValueClick had Q3 revenue of $163M, which missed consensus by $3.5M.
- Excluding O&O, ValueClick expects Q4 revenue of $166M-$171M and EPS of $0.57-$0.58. With the consensus (takes O&O into account) at $211.4M and $0.59, it looks as if ValueClick's top-line guidance for its ad services ops is below expectations.
- $172M was spent on buybacks in Q3. ValueClick added $100M to its authorization last month.
- Shares -4.8% AH. Q3 results, PR.
Nov. 5, 2013, 4:13 PM
Aug. 2, 2013, 12:45 PM
Aug. 2, 2013, 9:56 AM
- Groupon (GRPN -0.2%) has been upgraded to Equal Weight by Evercore, a long-time bear.
- Chipmakers Broadcom (BRCM -1.4%) and Linear (LLTC -1.4%) have been cut to Neutral by UBS. Broadcom received 7 downgrades last week following its Q2 report.
- Guidance Software (GUID -17.3%) has been cut to Sell by Benchmark following its Q2 report and light 2013 guidance.
- ValueClick (VCLK -16.4%) has been cut to Underperform by Raymond James, and to Hold by Needham, in response to its Q2 report and light guidance.
- Citrix (CTXS +0.9%) has been upgraded to Outperform by Credit Suisse.
- Cbeyond (CBEY -4.3%) has been cut to Market Perform by FBR following its Q2 report.
- Automatic Data (ADP -1.2%) has been cut to Neutral by Susquehanna following its FQ4 report.
Aug. 2, 2013, 9:10 AM
Aug. 1, 2013, 5:31 PM
Jul. 24, 2013, 11:53 AMA downgrade to Neutral from Goldman's Debra Schwartz pressures ValueClick (VCLK -3.5%) shares. Schwartz thinks "increasing competition in affiliate marketing and a deliberate shift in resources away from the higher growth ad tech business could keep the stock range-bound near term." Goldman's checks point to higher low-end affiliate marketing competition, which Schwartz believes could offset recent client wins stemming from Google's shuttering of its affiliate network. ValueClick fell last Friday in response to Google's Q2 miss; its own Q2 results arrive on Aug .1. | Comment!
May. 16, 2013, 1:49 PM
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