Mon, Apr. 27, 3:06 PM
- Today's notable tech gainers include online real estate leader Zillow (Z +4.3%), online travel deals platform Travelzoo (TZOO +8%), and gaming IP licensing firm Worlds (OTCQB:WDDD +15.5%).
- Notable decliners include wireless charging tech developer Energous (WATT -9.3%), enterprise mobility management software firm MobileIron (MOBL -9.4%), Chinese mobile game publisher iDreamSky (DSKY -7.1%), and cloud tech support software provider Support.com (SPRT -6.6%). The Nasdaq is down 0.6%.
- Zillow is now up 10% since providing soft full-year guidance on April 14. Travelzoo is up 32% since posting a Q4 beat on April 16.
- Energous is selling off after filing a $75M mixed shelf following Friday's close. MobileIron is down 34% since issuing a Q1 warning last Wednesday. iDreamSky is missing out on a Chinese tech rally.
- Previously covered: Applied Materials, Aerohive, Taser, Oclaro, JD.com, Sky-mobi, 3D Systems/Stratasys
Tue, Apr. 14, 10:03 AM
- Zillow (NASDAQ:Z) has fallen to new 52-week lows after providing light 2015 revenue guidance on its CC, and forecasting full-year adjusted EBITDA of just $80M-$85M. However, shares have quickly bounced from a low of $81.07.
- Zillow also stated on the CC 2015 will be a "transition year," and suggested Premier Agent net adds will be light. Shares trade for 6.9x Zillow's 2015 revenue forecast.
- Update (1:50PM ET): Zillow is now only down 1.9%.
Tue, Apr. 14, 9:13 AM| 3 Comments
Mon, Apr. 13, 6:35 PM
- Zillow (NASDAQ:Z) has scheduled a conference call for 9AM ET tomorrow (webcast). The online real estate giant will use it to provide "an operational progress report" on the Trulia deal, and to "discuss its preliminary full-year pro forma outlook for 2015."
- Shares have risen to $95.15 AH. They fell 4.8% in regular trading ahead of the announcement.
Mon, Apr. 13, 5:39 PM
Mon, Apr. 6, 10:29 AM
- Believing traffic growth is slowing for both the Zillow and Trulia brands and that the slowdown could be a sign of market saturation, Barclays' Chris Merwin has downgraded Zillow (Z -1.3%) to Equal Weight, and cut his target by $35 to $105.
- Merwin also thinks premier agent net add growth is slowing, and expects Zillow to offer large brokerages discounts in order to get access to their listing inventory - he does qualify by stating Zillow could later re-price "at a substantial premium." He adds the company hasn't reported monthly unique visitor traffic since January, a month during which growth slowed to 24%.
- Shares opened down over 3%, but have since bounced. They're down 40% from a high of $164.90 (set amid Trulia merger euphoria).
- Last week: Cowen cuts Zillow target; more MLS deals struck
Tue, Feb. 24, 4:05 PM
- A few days after Zillow (Z -3.1%) announced it's filing for a temporary restraining order against News Corp.-owned Listhub for ending its Trulia listings deal (effective Feb. 26) well before its planned June 2016 expiration, a San Francisco judge has granted a restraining order.
- The order will remain in place at least until March 12 - the date set for a court hearing on the matter. Trulia: "We’re very pleased with this preliminary decision, and hopeful the court will grant us the further time necessary to make this transition in an orderly way."
- Shares nonetheless sold off today, thanks to a downgrade to Neutral from Macquarie. The downgrade comes in the wake of a sharply rally in Zillow's shares following the closing of its merger with Trulia.
Wed, Feb. 18, 12:51 PM
Wed, Feb. 18, 12:30 PM
- Zillow (Z +14.6%) has taken off on its first trading day as a company containing both Zillow and Trulia's assets. 3.6M shares have already been traded; the 3-month average for Zillow proper is 1.4M.
- During a CC, CEO Spencer Rascoff reiterated Zillow expects the merger to give it more scale/bargaining power when negotiating for MLS data, and declared the company has already made much progress in finding alternate sources for listings to be lost by the April expiration of a deal with Listhub (owned by Realtor.com owner News Corp.). "When we announced parting with News Corp. we were freed from the constraint of being reliant on a competitor for listings."
- Yesterday: Zillow closes Trulia deal, plans to cut 350 jobs
Fri, Feb. 13, 5:52 PM
- More specific metrics from Zillow's (NASDAQ:Z) Q4 report: Average monthly unique users of nearly 77M (up 41%); mobile visits (nearly two-thirds of Zillow's visits) were up 57%.
- Premier Agent advertising revenue hit an annualized run rate of more than $268M vs. prior year's $157M. Zillow netted 1,428 new Premier Agent advertisers at average revenue of $359, up from prior year's $271.
- For the full year, revenues were up 65% to record $325.9M (Marketplace Revenue up 73% to $267.2M; Display Revenue up 37% to $58.7M).
- There's no conference call to discuss earnings, but Zillow is holding a call to discuss the Trulia acquisition Wed., Feb. 18 at 9 a.m. ET, the day after it expects to close the deal.
- Shares now significantly higher after hours, +5.2%.
Fri, Feb. 13, 5:12 PM
Thu, Feb. 12, 11:23 AM
- Merger partners Zillow (Z +6.6%) and Trulia (TRLA +6.4%) are posting big gains in morning trading. Zillow has already seen 1.12M shares change hands vs. a 3-month daily average of 1.39M, and Trulia 561K vs. a 3-month average of 607K.
- Both companies soared last month on a report stating the FTC staff has recommended approving their all-stock merger. Neither has posted Q4 results yet.
- Short-covering could be driving today's moves: Zillow had 14.5M shares shorted as of Jan. 30, a 52-week high and equal to a whopping 54% of its float. Trulia had 8.3 shares shorted, well below a May 30 level of nearly 14M but still equal to 24% of its float.
Tue, Feb. 3, 1:25 PM
- Though the Nasdaq is only up 0.4%, a long list of tech firms are posting outsized gains today.
- It's a good day for online real estate: Merger partners Zillow (Z +5%) and Trulia (TRLA +4.9%) are up sharply, as are Chinese online real estate plays SouFun (SFUN +5.2%), E-House (EJ +6.5%), and Leju (LEJU +3.8%).
- Other major tech gainers include security software firm Imperva (IMPV +4.7%), gaming headset maker Turtle Beach (HEAR +6.6%), salvage auction site Liquidity Holdings (LQDT +7.4%), RF filter tech developer Resonant (RESN +10.7%), telecom equipment/SDN software vendor Cyan (CYNI +10.1%), Chinese CDN owner ChinaCache (CCIH +10.8%), application delivery controller vendor A10 Networks (ATEN +6.1%), Chinese sports lottery site 500.com (WBAI +7.6%), and unified communications hardware/software firm ShoreTel (SHOR +6.7%).
- Earlier: Solar stocks soar as oil tops $51, CSIQ strikes deal
- Earlier: 3D printing stocks routed after Stratasys warns
Fri, Jan. 23, 12:46 PM
Fri, Jan. 23, 11:27 AM
- Zillow (Z +11.6%) and Trulia (TRLA +13.2%) have skyrocketed in morning trading. The FTC staff has reportedly recommended approving the companies' all-stock merger.
- Zillow/Trulia agreed last year not to close their deal before Feb. 1, to give the FTC time to thoroughly review. Earlier this month, industry insider Brad Inman reported hearing the FTC would sign off on the deal (as has been generally expected). The combined company's share of online agent advertising has been in focus.
- Separately, Zillow has announced Zillow Pro for Brokers (a free program for real estate brokers that aims to improve listings and grow leads) now has over 5K nationwide partners, up over 2x since last July.
Thu, Jan. 15, 12:36 PM
- Merger partners Zillow (Z -7.5%) and Trulia (TRLA -7.6%) are among the biggest decliners on a day the Nasdaq is down 0.8%. Zillow has seen 1.1M shares change hands vs. a 3-month daily average of 1.35M; Trulia has seen 271K vs. a 3-month average of 547K.
- Freddie Mac announced this morning mortgage rates had declined for the third straight week, with the average rate for a 30-year fixed-rate mortgage making a new 20-month low of 3.66%. The average 15-year rate fell below 3% for the first time since May 2013.
- This month has seen Zillow roll out Data Dashboard, a listing management/reporting platform for brokers and agents meant to give more control over how listings are directed to Zillow.
- The company hopes listings funneled through Data Dashboard will limit the damage done by the April expiration of a deal with listing provider ListHub. A Zillow spokeswoman recently said that if ListHub listings were pulled today, Zillow would lose "a few hundred thousand" of its 3.6M listings.
Z vs. ETF Alternatives
Zillow Group Incoperates the real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products to help people find vital information about homes and connect with local professionals.
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