Market Currents

• Monday, December 7, 2009

• 17:18 PM Focus Media (FMCN): Q3 EPS of -$0.99 may not be comparable to consensus estimate of $0.12. Revenue of $167M (-26%) vs. $130M. Shares -3.3% AH. (PR) Comment!
• 00:10 AM Notable post-market earnings: FMCN Comment!

• Monday, September 28, 2009

• 08:27 AM Sina Corp (SINA) and Focus Media (FMCN) abandoned plans for a $1.4 billion merger, Reuters reported, citing months of government stonewalling. The deal would have created China's biggest privately-held media company. Separately, Sina said its management team will buy about 10 percent of the company for $180 million. Comment!

• Friday, September 18, 2009

• 09:06 AM Focus Media (FMCN): Q2 EPS of -$0.18 vs. consensus of $0.17. Revenue of $171M (+59.8%) vs. $153M. Sees FQ3 revenue of $126-128M vs. consensus of $170M. Shares -5.4% premarket. (PR) 1 Comment

• Tuesday, September 1, 2009

• 06:45 AM Analysts were disappointed by the lack of clarity from Sina (SINA): "What people were expecting is that we would get more finality, and instead of that, the whole issue just remains open," Citigroup's Jason Brueschke said. "There is far greater uncertainty for Focus Media (FMCN) shareholders, because the question is, are you getting Sina shares or not?" Comment!
• 06:24 AM On its Q2 earnings call this morning, Sina (SINA) conceded it's unlikely to receive Chinese antitrust approval for its proposed merger with Focus Media (FMCN) by the end of September, their agreed merger deadline. Sina says the pair are currently in talks to either extend the deadline, again, or alter the deal structure. Comment!

• Friday, June 19, 2009

• 17:15 PM Focus Media (FMCN): FQ1 EPS of -$0.04 misses by $0.19. Revenue of $66.7M (-14%) vs. $132.6M. Sees FQ2 revenue of no less than $69M vs. $152M. Shares +1% AH. (PR) Comment!
• 15:35 PM Notable earnings after Friday's close: FMCN Comment!
• 00:10 AM Notable earnings after Friday's close: FMCN Comment!

• Monday, March 23, 2009

• 17:42 PM Focus Media (FMCN): Q4 EPS of $0.39 misses by $0.05. Revenue of $192M (-14.5%) vs. $194M. Shares +1% AH. (PR) Comment!
• 00:10 AM Notable earnings after Monday's close: FMCN Comment!

• Friday, January 2, 2009

• 09:13 AM Premarket gainers: GM +10%. EGLE +7%. DRYS +7%. RTP +6%. ACH +6%. EXM +5%. DDR +5%. FMCN +4%. WFC +4%. DSX +4%. Comment!

• Tuesday, December 23, 2008

• 09:01 AM Premarket gainers: RHT +13%. PLD +12%. CX +9%. CIT +9%. UBS +8%. FMCN +6%. GFI +5%. XL +4%. HUN +4%. ASML +4%. Comment!
• 07:18 AM Shares of Sina (SINA) fell 17% Monday after it gave away nearly half the company to buy Focus Media's (FMCN) network of advertising assets. While it's hard to blame them for being skeptical, the deal may well be a resounding bargain. Comment!

• Monday, December 22, 2008

• 08:47 AM SINA (SINA) buys Focus Media's (FMCN) digital out-of-home advertising networks - including LCD display network, poster frame network and in-store network - for about $1.38B. SINA -6% premarket. FMCN +0.1%. Comment!

• Wednesday, December 10, 2008

• 09:29 AM Premarket losers: ERTS -12%. CAVM -10%. EK -10%. PCAR -5%. MWW -5%. AXP -4%. FMCN -4%. NMR -3%. ADP -3%. Comment!