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Glu Mobile Inc. (GLUU)

  • Fri, May 15, 12:00 PM
    • Glu Mobile (NASDAQ:GLUU) is up 3.4% following an analyst day that prompted Piper Jaffray and Canaccord to raise price targets on the stock, as Glu gave a look-ahead at forecasts for revenue and margins through 2020.
    • Piper raised its target to $9, from $7.50, praising Glu's exclusive content that enables a more visible development pipeline. It holds an Overweight rating.
    • A back-loaded pipeline for 2015 still looks strong and should provide some diversity that offsets an expected decline in Kim Kardashian: Hollywood. Piper notes that Glu sees potential revenue run rate of $1.3B-$1.7B and EBITDA margin of 20-25% by 2020.
    • Canaccord Genuity raised its price target on shares to $9 as well. It maintains a Buy rating.
    • Yesterday, Vetr upgraded the shares From Hold to Buy, just over a week after raising them from Sell to Hold. Vetr has a price target of $7.35.
    • Shares are trading currently at $6.69.
  • Tue, May 5, 3:22 PM
    • Glu Mobile (NASDAQ:GLUU) is down 4.4% late today on near double volume in some likely profit taking after last week's 16% post-earnings gain.
    • Piper Jaffray reiterated its Average rating, noting the company logged a strong Q1 and that game Kim Kardashian: Hollywood had a better than expected trajectory.
    • Piper has a price target on GLUU of $7.50; shares are currently trading at $6.68.
  • Thu, Apr. 30, 12:45 PM
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  • Thu, Apr. 30, 9:19 AM
  • Wed, Apr. 29, 5:37 PM
  • Wed, Apr. 29, 4:33 PM
    • Along with its Q1 results, Glu Mobile (NASDAQ:GLUU) announces Chinese gaming/messaging giant Tencent (OTCPK:TCEHY) is investing $126M in the company through the purchase of 21M shares at $6 apiece. Tencent will own 14.6% of Glu once the deal closes, and Glu will have a $190M cash balance.
    • With Tencent's WeChat mobile messaging platform (~500M MAUs) nearly ubiquitous in China and the company claiming a massive share of the Chinese online/mobile gaming market, the alliance could significantly increase the Chinese reach of Glu's games. Tencent exec Steven Ma will be joining Glu's board.
    • Also announced: Glu is partnering with Britney Spears to launch a new mobile game in 1H16. A 5-year exclusive agreement has been reached with the singer; it features a 3-year extension. The deal comes 3 months after one with Katy Perry, and follows the huge 2014 success of Kim Kardashian: Hollywood.
    • Glu now expects 2015 revenue of $262M-$287M and EPS of $0.20-$0.24 vs. a consensus of $265.6M and $0.25. Q2 guidance is for revenue of $50M-$52M and EPS of -$0.03 to -$0.05 vs. a consensus of $50.9M and -$0.02.
    • The company states its Q1 beat was "driven by the ongoing traction of Kim Kardashian: Hollywood, Racing Rivals, Deer Hunter 2014, and Contract Killer: Sniper." Its strong full-year sales guidance is attributed to an upcoming game lineup that includes "Terminator, Cooking Dash, Deer Hunter 2016, James Bond: 007 and Katy Perry."
    • Glu has surged to $6.26 AH. Q1 results, earnings release.
  • Wed, Apr. 29, 4:14 PM
    • Glu Mobile (NASDAQ:GLUU): Q1 EPS of $0.02 beats by $0.03.
    • Revenue of $62.44M (+33.0% Y/Y) beats by $10.84M.
    • Shares +15%.
    • Press Release
  • Wed, Apr. 22, 3:18 PM
    • Today's notable tech gainers include mobile game developer Glu Mobile (GLUU +8.2%), Chinese mobile app developer Cheetah Mobile (CMCM +8.1%), pico projector module developer MicroVision (MVIS +7.6%), Chinese analog/mixed-signal chipmaker Vimicro (VIMC +11.5%), IT services firm WidePoint (WYY +6.2%), mobile ad network owner Millennial Media (MM +5.6%), data discovery software vendor Datawatch (DWCH +15.7%), and RF backhaul hardware vendor Ceragon (CRNT +11.3%). The Nasdaq is up 0.4%.
    • Notable decliners include Chinese solar module vendor/project developer Yingli (YGE -5.1%) and U.S. solar installer Solar Power, Inc. (OTCQB:SOPW -5.1%). Most solar peers are higher.
    • Cheetah Mobile and Vimicro have joined several other Chinese tech firms in surging following an overnight rally in Shanghai. Glu's gains come ahead of the company's April 29 Q1 report. Datawatch's gains come after the company posted nearly in-line FQ2 results and stated has laid off almost 15% of its workforce; shares had tumbled in January thanks to an FQ1 warning.
    • Previously covered: SolarCity, ASML, Cree, Broadcom, Angie's List, Yelp, Adtran, Novatel, SuperCom, Tremor Video, Dolby, Procera, Castlight, Zhone, CalAmp
  • Mon, Apr. 13, 5:39 PM
    • Top gainers, as of 5:15 p.m.: GSAT +4.5%. AMCN +3.4%. GWPH +2.4%. IAG +2.3%. Z +2.2%.
    • Top losers, as of 5:15 p.m.: GLUU -9.1%. NSC -3.8%. NOK -2.5%. CSX -2.1%. REED -2.0%.
  • Thu, Feb. 5, 12:45 PM
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  • Thu, Feb. 5, 9:12 AM
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  • Wed, Feb. 4, 5:35 PM
  • Wed, Feb. 4, 4:41 PM
    • In addition to soundly beating Q4 estimates, Glu Mobile (NASDAQ:GLUU) has announced it's partnering with Katy Perry for a free-to-play mobile game expected to launch in late 2015 on iOS and Android.
    • Glu, looking to replicate the runaway 2014 success of Kim Kardashian: Hollywood, says it has struck a 5-year "exclusive mobile gaming partnership" with the pop singer. Kardashian is signed through 2019.
    • The Q4 beat is attributed to "the ongoing traction of Kim Kardashian: Hollywood, Racing Rivals and Deer Hunter 2014, as well as the solid performance of recently released Contract Killer: Sniper.” Cost controls also helped: While revenue rose 77% Y/Y, operating expenses rose 28% to $33.1M.
    • Gross margin fell to 61.1% from 73.1%. A ~60% GM is expected in Q1, and a ~61% GM for the whole of 2015.
    • Glu is up to $4.40 AH. It looks like someone knew about the good news in advance: Shares rose 6.4% in regular trading after jumping during the final hour on strong volume.
    • Q4 results/guidance, PR
  • Wed, Feb. 4, 4:10 PM
    • Glu Mobile (NASDAQ:GLUU): Q4 EPS of $0.11 beats by $0.09.
    • Revenue of $76.2M (+77.8% Y/Y) beats by $12.42M.
    • Expects Q1 revenue of $50M-$52M and EPS of -$0.01 to -$0.03, below a consensus of $58.2M and $0.03.
    • Expects 2015 revenue of $245M-$275M and EPS of $0.23-$0.28, mostly above a consensus of $245.7M and $0.22.
    • Shares +8.3% AH.
    • Press Release
  • Dec. 8, 2014, 9:45 AM
    • Glu (NASDAQ:GLUU) director Lorne Abony discloses he bought 50K shares on Thursday at $3.52, and 224K shares on Friday at $3.70.
    • Abony's purchases follow a roller-coaster ride for Glu in 2014: Shares are nearly flat YTD, but down 49% from a July high of $7.60, hit after Kim Kardashian: Hollywood soared to the top of app store download charts.
  • Oct. 30, 2014, 12:47 PM
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Company Description
Glu Mobile Inc develops, publishes & markets games designed to appeal to users of smartphones & tablet devices. Its gaming brands include Blood & Glory, Contract Killer, Deer Hunter, Eternity Warriors, Frontline Commando, Gun Bros, & Heroes of Destiny.