Wed, Jan. 28, 5:12 PM
- Liberty Interactive (QVCA,LVNTA,LVNTB) will pay an extraordinary cash distribution totaling $53.8M to holders of its 1% Exchangeable Senior Debentures due 2043.
- The payout is tied to a $10 special dividend issued by HSN (NASDAQ:HSNI) for its shareholders of record Feb. 9.
- With HSNI paying out its dividend on Feb. 19, Liberty will pay its distribution of $134.58/debenture on March 19, to debenture holders of record March 5.
Aug. 27, 2014, 6:36 PM
- Liberty Interactive (NASDAQ:LINTA) has finished spinning off its 22% TripAdvisor (NASDAQ:TRIP) stake into a new company called TripAdvisor Holdings. Starting tomorrow, TripAdvisor Holdings will trade under the symbols LTRPA and LTRPB.
- Liberty's stake carries with it 57% of TripAdvisor's voting rights. Wunderlich recently argued TripAdvisor might eventually buy back the stake in a cash/stock deal.
Aug. 25, 2014, 2:32 PM
- Wunderlich's Blake Harper has hiked his TripAdvisor (TRIP +1.5%) target by $12 to $100, albeit while reiterating a Hold.
- Harper cites a recent update to TripAdvisor's Hotel Listings page that he expects will yield "a better user experience and better monetization," the acquisition of local tours/activities site Viator, and a partnership with fast-growing car service Uber.
- He's also positive on Liberty Interactive's (LINTA -0.2%) plans to spin off its 22% TripAdvisor stake (comes with 57% voting rights) into a new holding company, and sees the move as "a precursor to an eventual combination that enables TRIP to consolidate the voting control in a cash/stock deal."
Aug. 21, 2014, 11:43 AM
- Hedge funds are having a difficult time of it again this year, up 1% vs. a 7.5% gain for the S&P 500, according to Goldman Sachs, which crunched the numbers on 775 funds with $1.9T in AUM.
- Nevertheless, Goldman's list of 50 stocks which "matter most" to hedge funds has outperformed the S&P 500 on a quarterly basis 66% of the time since 2001. The stocks this quarter (posted in order of the number of funds in which a name is a top-10 holding):
- ACT, AAPL, FB, AGN, AAL, GM, TWC, AIG, MSFT, HTZ, CHTR, MU, WMB, LNG, C, DAL, HCA, APC, CBS, ALLY, GOOGL, APD, NRF, BAC, EBAY, LBTYK, PCLN, VRX, BIDU, DTV, DISH, DG, EQIX, MA, WAG, ARCP, GILD, LINTA, MON, FOXA, VC, AMZN, BRK.A, BRK.B, SUNE, CMCSA, JPM, MIC, CCI, HES, LAMR.
- A special call-out to Northstar Realty (NYSE:NRF), Visteon (NYSE:VC), SunEdison (NYSE:SUNE), Macquarie Infrastructure (NYSE:MIC), and Lamar Advertising (NASDAQ:LAMR) for making the list of hedge fund hotels despite their relatively tiny market caps.
Aug. 5, 2014, 7:48 AM
Nov. 5, 2013, 9:32 AM
Oct. 14, 2013, 10:01 AM
- Liberty Interactive (LINTA +4.7%) shares spike after Wells Fargo upgrades the stock to Outperform from Perform and hoists its PT range to $31-$33 ($23-$24 previous).
- Analyst Matt Nemer bases the call on the value which he believes will be unlocked by Liberty's new tracking stock structure in Q1 2014. The core QVC asset trades at almost a 50% discount to peer HSNI and has an "increasingly promising long-term agenda" to boot, he observes.
- With regard to the future Liberty Digital Commerce tracker, Nemer sees underappreciation given its high growth and size - it would be the 4th largest U.S.-listed e-commerce business by revenue on a standalone basis.
Oct. 2, 2013, 12:28 PM
- Liberty Interactive (LINTA +1.3%) invests $300M in Abengoa's (ABGOY.PK) Solana parabolic trough solar plant, the largest of its kind in the world and the first to utilize thermal storage in the U.S.
- The plant is in the final testing phase and has an installed capacity of 280 gross MW. Arizona Public Service will purchase all electricity generated by the plant.
Sep. 4, 2013, 2:34 PM
- Liberty Interactive (LINTA +2.2%) prices a $350M private offering of 1% convertible senior debentures due 2043 (overallotment of $50M).
- The debentures are convertible into HSN (HSNI -1.5%) stock at $74.31/share (Liberty owns 38% of HSN, which spun off in 2008). The offering is expected to close Sept. 9.
May. 8, 2013, 7:48 AM
Feb. 27, 2013, 6:08 PM
Feb. 13, 2013, 6:25 PMTripAdvisor (TRIP) -9.4% AH following its Q4 report, even though it beat estimates and established a $250M stock buyback (good for repurchasing 4% of shares). Search ad sales +25% Y/Y (+15% in Q3) and 73% of revenue. Display ads -3% (+12% prior), subscriptions and other +56% (+53% prior). Liberty Interactive (LINTA) CEO Greg Maffei, whose company now controls 57% of TripAdvisor's voting rights, has been named chairman. TRIP has been on a good run since its Q3 beat. EXPE -0.7%. (PR) | 1 Comment
Dec. 31, 2012, 5:40 PM
Dec. 11, 2012, 10:00 AMTripAdvisor (TRIP +7.7%) has rallied to $41.35 on news Liberty Interactive (LINTA +0.1%) acquired voting control by purchasing 4.8M shares at $62.50. LINTA now controls 57% of TRIP's voting rights, though only 22% of its equity. Orbitz (OWW +3%) and Travelzoo (TZOO +3.3%) are joining Expedia in rising in sympathy. | Comment!
Dec. 11, 2012, 9:14 AM
Nov. 14, 2012, 5:01 PMThird Point reports initiating new stakes in Mondelez (MDLZ), Nexen (NXY), Symantec (SYMC), WESCO (WCC), Autodesk (ADSK), while increasing its stakes in AIG (AIG), Apple (AAPL), Murphy Oil (MUR) and LyondellBasell (LYB). The firm liquidated positions in Plains Exploration (PXP), Liberty (LINTA), News Corp (NWSA), Capital One (COF) and DISH (DISH) over the quarter, and reduced stakes in Cigna (CI), ARIAD (ARIA), Cabot (COG) and Coca-Cola Enterprises (CCE). (13-F) | 1 Comment
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