Zillow (Z +5.5%) is launching its first national TV spot, another sign the company is stepping up its efforts to compete for mindshare against Trulia and others in a fragmented online/mobile real estate market. The ad (video) will be shown in 30 and 60-second versions on CNN, USA, A&E, and other cable networks, and is part of Zillow's "Find Your Way Home" ad campaign (launched earlier this year). Zillow's sales/marketing spend rose 138% Y/Y in Q1 to $19.8M, and equaled 51% of revenue. [View news story]
Actually, those are great ads. Very well done, Zillow.
STAAR Surgical (STAA) falls 4% AH on the heels of a 6% regular session gain. The company said this morning that its Visian Implantable Collamer Lens has received marketing approval in Korea and Argentina. STAA's president for the Asia Pacific Region says the Korean market "is both significant and fast growing," and as such, the news "represents a very important milestone" for the company. (PR) [View news story]
Kandi Technologies (KNDI +25.4%) soars after saying Hangzhou City has begun construction on the first of 30 planned electric vehicle vertical parking and charging facilities, setting the stage for the deployment of "5-10K Kandi pure EVs … within one year from the initial launch." SA contributor Tom Konrad's advice: Shares of KNDI "should be a rental, not a purchase or even a long-term lease." (PR) [View news story]
Integrated circuit expert and SA contributor Karl Guttag has conclusive proof that Himax (HIMX) microdisplays are being used in Google Glass (GOOG). Shares of Himax (HIMX) are down more than 28% since May 31 after Google Glass teardowns revealed no Himax logo. [View news story]
Anyone questioning the utility of Google Glass needs to think bigger.
And if you can't, don't worry, there are others who are already doing it for you. Lead or follow...
Kinder Morgan Partners (KMP) restarts the 307K bbl/day Trans Mountain pipeline after repair crews finished their work on a defect that prompted a small oil spill - roughly six barrels - earlier this week. KMP plans to almost triple the line's capacity, which extends from Alberta to B.C. and Washington state, and critics were quick to seize on the spill: "Where oil moves, it spills," says the head of B.C.'s Sierra Club. [View news story]
The same Sierra Club led by an elitist academic who likely flies all over the planet in large jets that burn thousands of gallons of petrol in every flight?
iOS 7 (AAPL) comes with specs enabling game controllers to interact with iDevices, according to a developer doc seen by the WSJ. Though the doc says controllers "must not be required" for a game to work, it's still likely music to the ears of game developers (EA, ATVI, TTWO, GLUU), who have both been trying to profit from tremendous mobile gameplay growth, and struggling to get users to pay up-front (as opposed to downloading free-to-play titles). The report comes a month after Tim Cook said Apple will give developers more options to customize iOS, and days after IDC and App Annie predicted mobile game revenue will top $12B this year. Nvidia (NVDA) is trying to kick-start controller-based Android gaming via its Shield console. [View news story]
A HUGE improvement would allowing users to DELETE Game Center!
Facebook (FB) is eliminating its sponsored search ads as part of its efforts to get rid of over half its 27 ad products (and limit advertiser confusion). Facebook argues the ads were mostly used to promote apps and games, products that can be advertised via app install ads (growing quickly) and page post link ads. But it's still a surprising move, given expectations Facebook will ramp its search ad ops with the help of graph search. Meanwhile, a Salesforce report estimates the click-through rate for Facebook ads ranges from a mere 0.03% (dating ads) to 0.92% (telecom ads). Google (GOOG) once claimed the average rate for its AdWords search ads is around 2%. [View news story]
Thank goodness for Adblocker Plus which eliminates any annoying ads!
George Lucas and Steven Spielberg tell an audience at USC that the film industry is heading toward giant upheaval as distribution in the industry evolves. The iconic pair see the theater industry heading toward an increase in premium seating in large-sized theaters (think IMAX) for big-budget films and note that cable networks which have an easier time turning a profit (think HBO (TWX)) will be a logical channel to release more films. [View news story]
All overpriced - many will simply wait for the movie to come out on Netflix or similar
The Senate last night overwhelmingly passed a $955B agriculture bill that would reduce farm spending by $18B over the next decade, partly by ending the practice of making direct payments to farmers irrespective of crop yields, market prices and the economy. The bill would also slash spending on food stamps by $4B. The House is expected to take up its version of the legislation, which includes cutting food stamps by $20B, next week. [View news story]
As home prices rise, the demand for jumbo mortgages is rising too. Since the housing crash began, the market for jumbo mortgage-backed securities has been close to nothing. Banks still make the loans, but hold them on their books. Now, all that is beginning to change. The number of jumbo loans originated in Q1 was up 15% from last year. However the number of those loans securitized and sold by lenders has soared by 400%, with $4B worth of jumbo loans sold to investors thus far - which is more than the $3.5B in jumbos originated in all of 2012. (Video) [View news story]
And we'll see if any of history's lessons have been received...
Recession-hit Spain is set to be the latest European country to slash solar subsidies: sources tell the WSJ the government will announce 10%-20% cuts as soon as June 21. Europe's share of global solar installations has already been rapidly declining, thanks to macro issues and subsidy cuts in Germany (Europe's largest market). Solar shares are rallying in spite of the news (TAN +3.2%). LDK +7.6%. SOL +8.1%. SPWR +4.7%. YGE +5.3%. SUNE +3.9% in spite of getting started at Equalweight by Morgan Stanley. SolarCity (SCTY +5.8%) is up ahead of tomorrow's lockup expiration, after getting hammered last week. [View news story]
General Motors (GM -0.2%) has a nice little insurance policy to help it create shareholder value just in case the forecasts for strong U.S. auto sales don't pan out. The connectivity value of the Onstar service from the automaker makes the asset worth close to a whopping $8B to $10B, according to a bullish take from Citigroup. Though speculation on an Onstar spinoff has been going on for more than a decade, the high penetration rate of communication/security services also makes the stand-alone concept more enticing than ever. [View news story]
Right on cue for the market dip, the AAII Investor Sentiment Survey shows a surge in bulls, their number jumping 10.5 points to 49% - the highest since mid-January, and against the long-term average of 39%. Bears jumped ship, their number dropping 7.8 points to 21.6% vs. the long-term average of 30.5%. [View news story]
Market overbought... correction coming and the Fed's comments may have just started one.
Loopholes allowed Apple (AAPL) to avoid $44B in U.S. taxes from 2009-2012, claims a Senate report released shortly after Apple's official statement. Though peers have also been accused of using offshore havens, the report argues Apple went further by creating a subsidiary (responsible for ~1/3 of profits from 2009-11) that used differences in U.S. and Irish law to have no residence whatsoever. Sen. Carl Levin calls this "the Holy Grail of tax avoidance." Also, while Apple claims $6B in FY12 federal tax payments, the report claims the real number is $2.4B if one backs out deferred payments on foreign cash (only paid if/when the cash is repatriated). [View news story]
Funny... the crooked politicians allow themselves to be bribed by the companies' lobbyists, then the crooked politicians whine about the loopholes they themselves put into the bills.
With its stock offering complete, Tesla (TSLA) will likely pay back its DOE loan on Wednesday, tweets Elon Musk. He adds Tesla's supercharger network announcement (previous) will be pushed back to next week as a result. Shares -0.6% AH. [View news story]
Whether or not you're a fan of the stock, this is a great move by Musk that is appreciated by the taxpayers.
Zillow (Z +5.5%) is launching its first national TV spot, another sign the company is stepping up its efforts to compete for mindshare against Trulia and others in a fragmented online/mobile real estate market. The ad (video) will be shown in 30 and 60-second versions on CNN, USA, A&E, and other cable networks, and is part of Zillow's "Find Your Way Home" ad campaign (launched earlier this year). Zillow's sales/marketing spend rose 138% Y/Y in Q1 to $19.8M, and equaled 51% of revenue. [View news story]
STAAR Surgical (STAA) falls 4% AH on the heels of a 6% regular session gain. The company said this morning that its Visian Implantable Collamer Lens has received marketing approval in Korea and Argentina. STAA's president for the Asia Pacific Region says the Korean market "is both significant and fast growing," and as such, the news "represents a very important milestone" for the company. (PR) [View news story]
ggggg
Kandi Technologies (KNDI +25.4%) soars after saying Hangzhou City has begun construction on the first of 30 planned electric vehicle vertical parking and charging facilities, setting the stage for the deployment of "5-10K Kandi pure EVs … within one year from the initial launch." SA contributor Tom Konrad's advice: Shares of KNDI "should be a rental, not a purchase or even a long-term lease." (PR) [View news story]
Integrated circuit expert and SA contributor Karl Guttag has conclusive proof that Himax (HIMX) microdisplays are being used in Google Glass (GOOG). Shares of Himax (HIMX) are down more than 28% since May 31 after Google Glass teardowns revealed no Himax logo. [View news story]
And if you can't, don't worry, there are others who are already doing it for you. Lead or follow...
Kinder Morgan Partners (KMP) restarts the 307K bbl/day Trans Mountain pipeline after repair crews finished their work on a defect that prompted a small oil spill - roughly six barrels - earlier this week. KMP plans to almost triple the line's capacity, which extends from Alberta to B.C. and Washington state, and critics were quick to seize on the spill: "Where oil moves, it spills," says the head of B.C.'s Sierra Club. [View news story]
Worthless.
iOS 7 (AAPL) comes with specs enabling game controllers to interact with iDevices, according to a developer doc seen by the WSJ. Though the doc says controllers "must not be required" for a game to work, it's still likely music to the ears of game developers (EA, ATVI, TTWO, GLUU), who have both been trying to profit from tremendous mobile gameplay growth, and struggling to get users to pay up-front (as opposed to downloading free-to-play titles). The report comes a month after Tim Cook said Apple will give developers more options to customize iOS, and days after IDC and App Annie predicted mobile game revenue will top $12B this year. Nvidia (NVDA) is trying to kick-start controller-based Android gaming via its Shield console. [View news story]
Facebook (FB) is eliminating its sponsored search ads as part of its efforts to get rid of over half its 27 ad products (and limit advertiser confusion). Facebook argues the ads were mostly used to promote apps and games, products that can be advertised via app install ads (growing quickly) and page post link ads. But it's still a surprising move, given expectations Facebook will ramp its search ad ops with the help of graph search. Meanwhile, a Salesforce report estimates the click-through rate for Facebook ads ranges from a mere 0.03% (dating ads) to 0.92% (telecom ads). Google (GOOG) once claimed the average rate for its AdWords search ads is around 2%. [View news story]
George Lucas and Steven Spielberg tell an audience at USC that the film industry is heading toward giant upheaval as distribution in the industry evolves. The iconic pair see the theater industry heading toward an increase in premium seating in large-sized theaters (think IMAX) for big-budget films and note that cable networks which have an easier time turning a profit (think HBO (TWX)) will be a logical channel to release more films. [View news story]
The Senate last night overwhelmingly passed a $955B agriculture bill that would reduce farm spending by $18B over the next decade, partly by ending the practice of making direct payments to farmers irrespective of crop yields, market prices and the economy. The bill would also slash spending on food stamps by $4B. The House is expected to take up its version of the legislation, which includes cutting food stamps by $20B, next week. [View news story]
As home prices rise, the demand for jumbo mortgages is rising too. Since the housing crash began, the market for jumbo mortgage-backed securities has been close to nothing. Banks still make the loans, but hold them on their books. Now, all that is beginning to change. The number of jumbo loans originated in Q1 was up 15% from last year. However the number of those loans securitized and sold by lenders has soared by 400%, with $4B worth of jumbo loans sold to investors thus far - which is more than the $3.5B in jumbos originated in all of 2012. (Video) [View news story]
Recession-hit Spain is set to be the latest European country to slash solar subsidies: sources tell the WSJ the government will announce 10%-20% cuts as soon as June 21. Europe's share of global solar installations has already been rapidly declining, thanks to macro issues and subsidy cuts in Germany (Europe's largest market). Solar shares are rallying in spite of the news (TAN +3.2%). LDK +7.6%. SOL +8.1%. SPWR +4.7%. YGE +5.3%. SUNE +3.9% in spite of getting started at Equalweight by Morgan Stanley. SolarCity (SCTY +5.8%) is up ahead of tomorrow's lockup expiration, after getting hammered last week. [View news story]
If it's viable, a 100% cut would be prudent.
General Motors (GM -0.2%) has a nice little insurance policy to help it create shareholder value just in case the forecasts for strong U.S. auto sales don't pan out. The connectivity value of the Onstar service from the automaker makes the asset worth close to a whopping $8B to $10B, according to a bullish take from Citigroup. Though speculation on an Onstar spinoff has been going on for more than a decade, the high penetration rate of communication/security services also makes the stand-alone concept more enticing than ever. [View news story]
Right on cue for the market dip, the AAII Investor Sentiment Survey shows a surge in bulls, their number jumping 10.5 points to 49% - the highest since mid-January, and against the long-term average of 39%. Bears jumped ship, their number dropping 7.8 points to 21.6% vs. the long-term average of 30.5%. [View news story]
Loopholes allowed Apple (AAPL) to avoid $44B in U.S. taxes from 2009-2012, claims a Senate report released shortly after Apple's official statement. Though peers have also been accused of using offshore havens, the report argues Apple went further by creating a subsidiary (responsible for ~1/3 of profits from 2009-11) that used differences in U.S. and Irish law to have no residence whatsoever. Sen. Carl Levin calls this "the Holy Grail of tax avoidance." Also, while Apple claims $6B in FY12 federal tax payments, the report claims the real number is $2.4B if one backs out deferred payments on foreign cash (only paid if/when the cash is repatriated). [View news story]
With its stock offering complete, Tesla (TSLA) will likely pay back its DOE loan on Wednesday, tweets Elon Musk. He adds Tesla's supercharger network announcement (previous) will be pushed back to next week as a result. Shares -0.6% AH. [View news story]