initial public offerings (IPOs) trading on American exchanges

Friday, February 28, 2014

New Media Investment Group (NEWM) began trading on the NYSE on 4 February 2014


New Media Investment Group Inc. publishes print and digital media in the United States. The company's core products include 86 daily newspapers with total paid circulation of approximately 771,000; 252 weekly newspapers with total paid circulation of approximately 324,000 and total free circulation of approximately 704,000; 97 shoppers with total circulation of approximately 1.9 million; 353 locally focused Websites and 329 mobile sites with approximately 96 million page views per month; and 6 yellow page directories, with a distribution of approximately 488,000, that cover a population of approximately 1.2 million people. It also produces niche publications that address specific local market interests, such as recreation, sports, healthcare, and real estate. In addition, the company offers advertising services small businesses, corporations, government agencies, and individuals. Its print and online products provide local market news and information that covers various topics, such as local news and politics, community and regional events, youth sports, opinion and editorial pages, and local schools. New Media Investment Group serves approximately 128,000 business advertising accounts; and reaches approximately 10 million people on a weekly basis.
The company was founded in 1997 and is based in New York, New York. New Media Investment Group Inc. (NYSE:NEWM) operates independently of Newcastle Investment Corp. as of February 13, 2014.

Cara Therapeutics (CARA) : 1-month performance


Flexion Therapeutics (FLXN) began trading on the NASDAQ on 12 February 2014


Description

Flexion Therapeutics, Inc. (Flexion Therapeutics) is a specialty pharmaceutical company focused on the development and commercialization of injectable pain therapies. The Company is targeting anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis, a type of degenerative arthritis, referred to as OA. The Company’s product candidate, FX006, is an injectable intra-articular, meaning in the joint, sustained-release treatment for patients with moderate to severe OA pain. It is developing two additional product candidates, FX007 for post-operative pain and FX005 to treat end-stage OA patients. FX007 is a locally administered TrkA receptor antagonist for persistent relief of post-operative pain, including in patients who have received total joint replacement, also referred to as total joint arthroplasty (TJA).

Address

Suite 301, 10 Mall Road
BURLINGTON, MA 01803
United States

Key stats and ratios

Q3 (Sep '13)2012
Net profit margin--
Operating margin--
EBITD margin--
Return on average assets-84.08%-73.18%
Return on average equity--
Employees16

RSP Permian (RSPP) began trading on the NYSE on 16 January 2014


RSP Permian, Inc. is an independent oil and natural gas Company focused on the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The Company is operating two horizontal rigs and one vertical rig. The vast majority of its acreage is located on large, contiguous acreage blocks in the core of the Midland Basin, a sub-basin of the Permian Basin, primarily in the adjacent counties of Midland, Martin, Andrews, Dawson and Ector.

Address

SUITE 701, 3141 HOOD STREET
DALLAS, TX 75219
United States

Zoetis (ZTS) began trading on the NYSE on 1 February 2013



Description


Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The primary livestock species are cattle (both beef and dairy), swine, poultry, sheep and fish, and the primary companion animal species are dogs, cats and horses. In February 2014, Benchmark Holdings PLC purchased aquaculture vaccine and development assets from animal health company Zoetis Inc.

Address

100 Campus Drive
FLORHAM PARK, NJ 07932
United States

Key stats and ratios

Q3 (Sep '13)2012
Net profit margin11.88%10.06%
Operating margin16.77%16.37%
EBITD margin-25.25%
Return on average assets8.39%7.28%
Return on average equity63.96%11.26%
Employees9,300

GrubHub files for $100M IPO

The Chicago-based online food-ordering service, which merged last year with New York-based Seamless Inc., has been profitable for three years.

GrubHub CEO Matt Maloney

According to the filing, it had $137 million in revenue last year and net income of $6.7 million. Excluding interest, taxes, depreciation and amortization, GrubHub's operating profit was $38.1 million.

Revenue grew 66 percent last year following the merger, after climbing 36 percent in 2012, according to the filing.

The company’s customer base exploded after the merger with Seamless, whose business is much more focused on corporate food-delivery in New York and other markets. The number of diners more than tripled last year to 3.4 million.

The 10-year-old company lined up A-list bankers to lead the deal, including Citigroup, Morgan Stanley and Allen & Co. Chicago-based Wm. Blair & Co. also is an underwriter.

Last week the Wall Street Journal reported that GrubHub had made a confidential filing for an initial public offering.

Thursday, February 27, 2014

Zulily (ZU) reported Q4 earnings Tuesday 24 February 2014


After the bell, shares added 9.7% to $47. In the regular trading session, the stock was up 5.3% to $42.84.

In the three months to December, the online retailer saw net sales jump to $257 million, 100% higher than a year earlier. Active customers grew to 3.2 million by the end of 2013.

Excluding one-time charges, net income climbed to 10 cents a share from 3 cents a share in the year-ago quarter. Analysts surveyed by Yahoo! Finance expected net income of 4 cents a share.

"We're excited to close out a great year with a strong quarter and increasing profitability," said CEO Darrell Cavens in a statement.

"It's clear to me that our team's continued obsession with offering amazing products at a great value is driving tremendous performance for the company and excitement for our customers. We'll continue to aggressively invest in fulfillment, technology and people to maximize the long-term potential of our business."

For the March-ending quarter, management anticipates net sales between $225 million and $235 million and a net loss of $5 million to $1 million.

Over fiscal 2014, the company expects full-year revenue between $1.1 billion and $1.15 billion, a 58% to 65% increase on fiscal 2013, respectively.

3rd day after earnings:


Noodles & Co (NDLS) reported earnings on Wed 26 February 2014

reported earnings wed 2/26/14 after close
charts before
 



** after Q4 earnings **




  • Shares of Noodles (NDLS) fall off after the company misses analyst estimates by a penny with its Q4 profit.
  • System-wide comparable restaurant sales were up 3.9% during the period.
  • The company warns Q1 revenue will be lower due to extreme winter weather and EPS will take a $0.03 hit.
  • In 2014, Noodles expects to open 42-50 company owned restaurants and 10-15 franchise outlets.

Tuesday, February 25, 2014

Top 10 IPOs to watch for in 2014



1. Alibaba

The Alibaba IPO has been in the works for years. The China-based e-commerce group offers business-to-business, online retail and processing services. Yahoo! Inc. (NASDAQ: YHOO) will be a key winner if Alibaba makes it to the stock market due to its large stake. Japanese telecom and Internet company Softbank is an owner as well.

Founded in 1999, Alibaba has become a key global player. According to an early 2013 article in The Economist, analysts forecast an IPO value of $55 billion to more than $120 billion. Hong Kong regulators nixed Alibaba’s IPO ambitions there, so the company may go public in the United States instead. It is not unusual for Chinese companies to decide to list in America over China, but it is somewhat ironic that listing standards for public companies are less strict in the U.S. than they are in China.

2. GoPro

GoPro has adapted video cameras to the needs of the active, or extreme, sports enthusiast. Skydivers, rock climbers, cyclists and many others are attaching GoPro cameras to their helmets to film their adventures. The company filed confidentially for the IPO with the U.S. Securities and Exchange Commission (SEC), but it will reportedly seek to raise about $400 million — the total market value could be in excess of $2 billion. In an interview last year with Forbes, founder Nick Woodman said the company sold 2.3 million cameras in 2012 for a total of around $521 million. Revenue has reportedly doubled every year since its 2004 founding. This is a hot product, but investors should remember that one-product companies, with just a few related products, often go through severe swings in their business cycle — and that some of those swings could be very unpleasant. GoPro could be public by the time summer gets here.

3. GE Consumer Lending

The GE Consumer Lending unit is expected to go public in 2014. The exact timing has not been worked out, but it could be as soon as the second quarter of this year. Parent company General Electric Co. (NYSE: GE), which aims to be valued as an industrial conglomerate rather than an eclectic mix of half-bank and half-industrial companies, has wanted to get this transition out of the way for some time. GE CEO Jeff Immelt even went as far as to name CFO Keith Sherin as CEO of the unit. This IPO will be made up of the company’s North American retail finance business. The unit first filed with the SEC in late 2013. GE’s exit will be a two-step process. First, to be a tax-free spin-off, the consumer finance unit will act like a tracking stock, with a low float of close to 20% initially. GE shareholders then likely will be distributed shares in the unit — this year or next.

4. Gilt Groupe

Gilt Groupe operates a live, online daily deals site that has been speculated upon as an IPO hopeful for quite some time now. Perhaps the Groupon IPO got in the way, or maybe Zulily also beat Gilt to the IPO market. For whatever the reason this has not yet come public, we have been awaiting this one with no confirmed IPO plans as of yet. But several market pundits, including Jim Cramer of TheStreet and CNBC, have spoken highly of this site. What is different about Gilt, compared to other deals sites, is its clearance of designer label items. The company also claims to have as many as 200 group sales per week. Gilt buys vendor inventory at deep discounts and then sells those items directly to its members, who are constantly looking for key flash sale deals. IPO chatter for this company has resumed of late, with investors expecting an IPO as soon as late spring or early summer. Gilt was founded in 2007, and as of May last year it had 7 million customers.

5. Glassdoor
Glassdoor has not yet filed for an IPO, but a $50 million round of venture capital late last year has sparked speculation that the online jobs and career resource site will likely file for one soon. In all, the company raised nearly $93 million since its start from investors Tiger Global Management and Dragoneer Investment Group, among others. Glassdoor offers job seekers access to peer-oriented reviews of companies, salary comparisons and interview reviews. According to a press release, Glassdoor has more than 22 million members and data on nearly 300,000 companies in 190 countries. Glassdoor recently ranked 243 in traffic among all U.S. websites, according to online audience measurement tool Alexa.

6. TrueCar

TrueCar was another company that was rumored to be in talks with bankers last year regarding a 2014 IPO. The car-selling site was reportedly seeking a value of some $1.5 billion. The company helps consumers buy cars by providing pricing details from more than 6,000 dealerships. TrueCar was founded in 2005 and is said to be profitable. Reportedly, it already turned down an offer to be acquired for $1 billion. Keating Capital Inc. (NASDAQ: KIPO) and GSV Capital Corp. (NASDAQ: GSVC), which tend to invest in pre-IPO companies, own shares of this company.

7. Etsy

Founded in 2009, Etsy reportedly has been profitable since 2009. The company is the most visible online market for handmade crafts and goods. The site allows independent artists, craft workers and others to sell their products, as well as vintage goods, directly to the public. Without this company there would probably be no major Internet outlet for this growing market segment. A whopping 88% of its sellers in the United States are women, and about one in five are selling their creations full time. Listings cost only two cents, and the site takes an additional 3.5% of the transaction sum. The company claims a current membership of more than 30 million, with more than 20 million items listed for sale. In January, the company’s CEO Chad Dickerson told Fox Business that an IPO could be on the horizon but underscored the company is still being built.

8. Party City

Party City is another private equity-sponsored IPO on deck. The company, which used to be public, is the largest party goods retailer in the United States and is backed by Thomas H. Lee Partners. The filing is reportedly for up to $500 million in stock. This company dates back to 1947 and, including independent party supply stores and retailers, it has thousands of outlets. It currently has almost 900 permanent party goods stores and also has approximately 350 temporary Halloween stores. Goldman Sachs, Bank of America Merrill Lynch and Credit Suisse were named the lead underwriters for the IPO.

9. Virtu Financial

Virtu Financial is a high-speed trading firm and designated market maker. In January there were reports it filed confidential documents with the SEC that would allow it to pursue an IPO. The New York-based company is reportedly a player in 200 different global markets for stocks, currencies, futures and other instruments. Because high-frequency traders are considered to have an unfair advantage over average investors, the company may not be popular with the public. Investors, on the other hand, could love it. The Wall Street Journal reported Virtu was profitable, and that it had trading revenue of about $415 million for the trailing 12 months.

10. Univision

Univision is the top Spanish language broadcaster in the United States. It was taken private in early 2007 by affiliates of Madison Dearborn Partners, Providence Equity Partners, TPG Capital and Thomas H. Lee Partners for more than $12 billion. Reports of IPO discussions with bankers surfaced late in 2013, but that speculation has been quiet ever since. While several reports anticipate an IPO in the second half of 2014, the company has yet to disclose any substantive steps it has taken. With its media focus targeting the nation’s Latin American community, Univision’s growth has been impressive — especially as many other media outlets face contraction. Still, since it went private right before the peak of the private equity craze, one has to wonder if the IPO valuation will be grossly different from its value seven years ago.

Stock Building Supply Holdings, Inc. (STCK) began trading on the NASDAQ on 8 August 2013

Stock Building Supply Holdings, Inc. engages in the distribution of lumber and building materials in the United States. It was founded in 1922 and is headquartered in Raleigh, North Carolina.




Stock Building Supply Holdings, Inc. engages in the distribution of lumber and building materials in the United States. The company provides millwork and other interior products comprising interior doors, interior trim, custom millworks, moldings, stairs and stair parts, flooring, cabinets, gypsum, and other products for inside the structure of the home; and lumber and lumber sheet goods, such as dimensional lumber, plywood, and oriented strand board products for on-site house framing. It also offers windows and other exterior products consisting of exterior door units, and roofing and siding products; and hardware, boards, and insulation products, as well as design assistance and professional installation services of products. In addition, the company manufactures and sells structural components, including floor trusses, roof trusses, wall panels, and engineered wood product. It serves production and custom homebuilders; and repair and remodel, multi-family, and commercial contractors. The company was formerly known as Saturn Acquisition Holdings, LLC and changed its name to Stock Building Supply Holdings, Inc. in May 2013.
Stock Building Supply Holdings, Inc. was founded in 1922 and is headquartered in Raleigh, North Carolina.

Description

Stock Building Supply Holdings, Inc. is a diversified lumber and building materials (LBM) distributor and solutions provider that sells to new construction and repair and remodel contractors. The Company’s primary products are lumber & lumber sheet goods, millwork, doors, flooring, windows, structural components, such as engineered wood products (EWP), trusses, wall panels and other exterior products. The Company serves a customer base, including large-scale production homebuilders, custom homebuilders and repair and remodeling contractors. In addition, the Company provides solution-based services to its customers, including design, product specification and installation management services. The Company’s primary operating regions include the South and West regions of the United States.

Address

Suite 400, 8020 Arco Corporate Drive
RALEIGH, NC
United States 

Key stats and ratios

Q3 (Sep '13)2012
Net profit margin-1.71%-1.55%
Operating margin-0.89%-2.01%
EBITD margin--0.42%
Return on average assets-6.44%-5.39%
Return on average equity-30.77%-56.23%
Employees2,557

Friday, February 21, 2014

Groupon (GRPN) reported Q4 earnings Thursday 20 February 2014


  • Beat quarterly EPS by $0.02 ($0.04 ex items vs $0.02 estimate), revs rose 20.4% yoy to $768.4 mln vs $718.73 mln estimate; sees Q1 EPS of -$0.04 to $0.02 ex items vs $0.06 estimate, revs of $710-760 mln vs $681.81 mln estimate; downgraded at RBC Capital Markets.
  • Two acquisitions last month will hurt profit by $20 million this quarter, Groupon said yesterday after the markets closed. That impact, plus $25 million in additional expenses for marketing and growth initiatives, will lead to adjusted earnings before interest, taxes, depreciation and amortization of $20 million to $40 million, Groupon said. Analysts had estimated $96 million, according to data compiled by Bloomberg.

Daily deals company Groupon's (GRPN) Q1 sales guidance blew away analyst expectations, but the company said its full-year earnings would be only "slightly above" 2013 levels, sending the stock plummeting Friday.


The Chicago-based company late Thursday said it expects current-quarter sales of $710 million to $760 million, or $735 million at the midpoint. Analysts had been modeling $669 million, according to Thomson Reuters.

But the company says EBITDA — or earnings before interest, taxes, depreciation and amortization — will suffer as the company integrates recent acquisitions and boosts marketing spending.

Groupon late Thursday said Q4 sales rose 20% from the year-earlier quarter, to $768.4 million, beating views of $718 million.

EPS ex items was 4 cents, swinging from a 1-cent loss and beating expectations for 2 cents.





Thursday, February 20, 2014

RCS Capital (RCAP) : 8-month performance


RingCentral (RNG) : 5-month performance


GrubHub Seamless Inc. files confidentially for IPO

  • The combined company processes about 150,000 customer orders on a daily basis.
  • It generated over $100 million in sales last year. 
  • It takes a cut, sometimes as high as 15-17%, of each order made through its online restaurant menu directory.
GrubHub Seamless Inc., the online restaurant menu and takeout-ordering service, has made a confidential filing for an initial public offering, according to people familiar with the matter.

Company officials have met with investment banks and could launch the IPO in the first half of the year, one of the people said. It is unclear how much the sale would raise or value the company at.

A spokeswoman for GrubHub Seamless declined to comment.

The company was formed by the merger of New York-based Seamless and Chicago-based GrubHub last year. Seamless had previously been planning on going public on its own.

Seamless was launched in 1999, then acquired by food-service company Aramark (ARMK) in 2006. Spectrum Equity Investors, a private-equity firm, bought a minority stake in Seamless in 2011 for $50 million. The rest of the company was spun out to Aramark's own private-equity owners as a dividend in 2012. Those firms included Warburg Pincus LLC, Thomas H. Lee Partners LP, CCMP Capital Advisors LLC and GS Capital Partners, a unit of Goldman Sachs Group Inc.

GrubHub was founded in 2004, and had raised nearly $85 million in venture capital funding from firms including Benchmark Capital, DAG Ventures and Origin Ventures.

The two companies announced their merger last May, then in August said that T. Rowe Price Group Inc. (TROW) bought a stake in the combined firm. T. Rowe's New Horizons Fund owned 1.4 million shares, worth $12 million, as of Dec. 31, according to a fund prospectus.

The two companies have absorbed a number of other online-menu providers. In 2011, Seamless acquired MenuPages and GrubHub acquired Dotmenu, owner of websites CampusFood.com and Allmenus.com.

GrubHub Seamless has 28,000 restaurants across 600 cities that post menus or allow customers to order through the company's websites, and generated $100 million-plus in revenue in 2012.

Under U.S. securities rules, companies with less than $1 billion in revenues in the past fiscal year can initially file secretly with regulators for a public offering.

Wednesday, February 19, 2014

Potbelly (PBPB) shares plunge on earnings on 19 February 2014


Potbelly Corp. (PBPB) shares fell 10% at the open Wednesday to an all-time low as hungry investors tore through the company’s latest earnings report and were left wanting more.

It was only the second time the Chicago-based sandwich shop released quarterly results as a publicly traded company, and while it nailed the adjusted EPS (posting 6 cents a share, 2 cents better than Wall Street’s expected), they came up short on these key fronts: revenue, comparable-store sales growth and outlook.

Revenue for the quarter ended Dec. 29, 2013, was $74.76 million. According to FactSet, Wall Street had been expecting $76 million.

Potbelly’s comparable-stores sales growth (sales from stores open at least 15 months) rose an anemic 0.7%, down from 2.5% in the previous quarter.

And Potbelly’s outlook for the rest of the year was chilled by the wintery weather. Potbelly blamed a disruptive external environment (aka blizzards) for its weak fourth-quarter comp sales, and warned the same relentless snow and ice have already thrown a damper on first-quarter store traffic. In other words, more of the same to start 2014.

The company is now predicting low, single-digit company-operated comparable store sales growth for the full year.

This has investors wondering. If a hot new comfort food chain can’t haul in winter-weary customers, is something missing? That empty feeling gets worse when they look back at the prospectus Potbelly filed with the SEC in August, ahead of its wildly successful initial public offering in October, in which it touted comparable-store sales growth in 12 of its previous 13 quarters, 5.9% sales growth in the “limited-service restaurants” (LSRs) segment, and a 20.7% profit margin. That profit margin slipped last quarter to 19% while overall sales growth sales was 1.7%, far below its earlier implied growth rate for the segment.

Nevertheless, Potbelly CEO Aylwin Lewis is still upbeat about the future, assuring investors the company’s long-term growth plan remains “very much on track to achieve at least 10% unit growth plus 20% EPS growth on an annual basis.”

Monday, February 17, 2014

Marcus & Millichap (MMI) began trading on the NYSE on 31 October 2013

(MMI used to be Motorola Mobility)

Description

Marcus & Millichap, Inc. is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. The Company focuses primarily on the private client segment. The private client segment comprises over 80% of the total number of property transactions in the commercial real estate market. The Company provides investment brokerage and financing services to investors of all types and sizes of commercial real estate assets. The Company offers two services to its clients: commercial real estate investment brokerage and financing. The Company provides a range of advisory and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors and other institutions.

Address

Suite 400, 23975 Park Sorrento
CALABASAS, CA 91302
United States 

Key stats and ratios

Q3 (Sep '13)2012
Net profit margin6.50%7.24%
Operating margin11.28%12.71%
EBITD margin-13.48%
Return on average assets53.64%36.27%
Return on average equity493.49%133.76%

Sunday, February 16, 2014

Chegg (CHGG) released its first earnings since IPO on 13 February 2014

Chegg, Inc. (NYSE:CHGG), the leading student-first connected learning platform released its earnings results for the fourth quarter and fiscal year ended December 31, 2013, on Thursday, February 13, 2014, after the market close.

CHGG fell more than 22% after the connected education platform specialist turned in better-than-expected fourth-quarter results, but followed with disappointing forward margin guidance. Just $76.9 million in cash remaining on its balance sheet at year end.

** daily **

** weekly ** 

** daily **

Amedica (AMDA) began trading on the NASDAQ on 13 February 2014

Amedica Corp. (NASDAQ: AMDA) is a medical device maker that began trading on Thursday. The IPO offered 3.5 million shares at a price of $5.75 a share, a far cry from the expected range of $10 to $12. Underwriters have a 30-day option on an additional 525,000 shares. Shares closed at $5.39 on Thursday and at $5.68 on Friday.



Description

Amedica Corporation (Amedica) is a commercial biomaterial company focused on using its silicon nitride technology platform to develop, manufacture and sell a broad range of medical devices. The Company market spinal fusion products and are developing products for use in total hip and knee joint replacements. The Company markets its Valeo family of silicon nitride interbody spinal fusion devices in the United States and Europe for use in the cervical and thoracolumbar areas of the spine. In addition to its silicon nitride-based spinal fusion products, it markets a complementary line of non-silicon nitride spinal fusion products which allows us to provide surgeons and hospitals with a broader range of products. These products include three lines of spinal fusion devices and five types of orthobiologics, which are used by surgeons to help promote bone growth and fusion in spinal fusion procedures.

Address

1885 West 2100 South
SALT LAKE CITY, UT 84119
United States 

Key stats and ratios

Q3 (Sep '13)2012
Net profit margin-48.69%-151.89%
Operating margin-38.73%-127.26%
EBITD margin--41.44%
Return on average assets-32.11%-74.01%
Return on average equity--
Employees74

Eagle Pharmaceuticals Inc. (EGRX) began trading on the NASDAQ on 12 February 2014

Eagle Pharmaceuticals Inc. (NASDAQ: EGRX) held its IPO on Wednesday. The company focuses on developing injectable products primarily the areas of critical care and oncology. The company offered 3.35 million shares at $15 a share, the midpoint of its expected range of $14 to $16. At that price the company has a market value of around $216 million. Shares closed at $12.83 on Wednesday and at $12.80 on Friday.


Description

Eagle Pharmaceuticals, Inc. (Eagle Pharmaceuticals) is a specialty pharmaceutical company. The Company focused on developing and commercializing injectable products. The Company develops products that address the shortcomings, as identified by physicians, pharmacists and other stakeholders, of existing commercially injectable products. Its two most advanced product candidates are EP-3101 (bendamustine RTD), a intravenous version of the chemotherapeutic agent that is marketed by Teva under the brand name Treanda, and Ryanodex (dantrolene for MH), a intravenous version of an approved treatment for malignant hyperthermia. The Company’s products include EP-3101, EP-3102, Ryanodex, EP-4104, EP-6101, EP-5101, EP-1101 and EP-2101.

Address

SUITE 315, 50 TICE BOULEVARD
WOODCLIFF LAKE, NJ 07677
United States

Key stats and ratios

Q4 (Dec '13)2013
Net profit margin-59.28%-44.22%
Operating margin-55.82%-61.81%
EBITD margin--60.82%
Return on average assets-72.31%-43.92%
Return on average equity--
Employees20

Saturday, February 15, 2014

NephroGenex (NRX) began trading on the NASDAQ on 11 February 2014

Description

NephroGenex, Inc. is a United States-based drug development company focusing on novel therapies for kidney disease. The Company has developed Pyridorin (pyridoxamine dihydrochloride), it targets diabetes-induced carbonyl and oxidative chemistries that are a principal causative factor in the development of diabetic nephropathy and other diabetic complications. It is conducting a new Phase 2b clinical trial (PYR-210) that is evaluating the safety and efficacy of Pyridorin in slowing the progression of overt nephropathy in patients with type 2 diabetes.

Address

4401 Research Commons Building Suite 290, 
79 T.W. Alexander D P.O. Box 14188
RESEARCH TRIANGLE PARK, NC 27709-4188
United States

Key stats and ratios

Q3 (Sep '13)2012
Net profit margin--
Operating margin--
EBITD margin--
Return on average assets-965.40%-347.63%
Return on average equity--
Employees3

Friday, February 14, 2014

Andrew Mason unloads more than half of Groupon (GRPN) stake

Groupon Inc. co-founder Andrew Mason sold more than half his stock in the company since being forced out as CEO nearly a year ago.

Mr. Mason holds 18 million shares of Groupon common stock, down from 45.6 million shares at the end of 2012, according to securities documents disclosed today. Mr. Mason now owns about 3 percent of Groupon's stock, compared with 7 percent a year ago. His remaining holdings are worth $200 million at current prices. Groupon's stock price more than doubled since Mr. Mason departed Feb. 28.


Mr. Mason, who has moved the San Francisco area, still holds 999,984 shares of Class B stock that have special voting rights. Class B stock grants shareholders 150 votes per share, versus one per share for common stock.

Co-founders Eric Lefkofsky, who replaced Mr. Mason as Groupon CEO, and Brad Keywell, also hold Class B shares. Collectively, Messrs. Mason, Lefkofsky and Keywell have control over 36 percent of Groupon voting rights. When Mr. Mason left the company, he was no longer bound by restrictions that govern when insiders can sell stock.

Mr. Mason isn't the only Groupon insider who sold shares as the stock price recovered (although it still hasn't returned to its $20 IPO price). His co-founders also have been selling, though not as much.

China's online retail giant JD.com aims for U.S. IPO

For American investors eager to buy into the rise of the Chinese consumer, today brought some news of interest: JD.com, a Chinese online retailer, plans to raise $1.5 billion in a U.S. initial public offering, according to a filing with the Securities and Exchange Commission.

The company describes itself as China’s largest online direct sales company based on transaction volume. JD.com doesn't just put customers together with merchants via the Internet; it procures its own inventories, sells the products directly to consumers online, and provides delivery and after-sales service.

The numbers, as is so often the case with things in China, are big. In the first nine months of last year, the company counted 35.8 million active customers and fulfilled 211.7 million orders through a delivery staff of 18,005 people, pulling in 49.2 billion yuan ($8.12 billion) in the same period, according to the filing.

The company says customers have generated 247 million product reviews, and the company’s technology platform has the capacity to process up to 30 million orders a day. And there’s a lot of room to grow, according to the prospectus: China’s online retail market may reach 3.6 trillion yuan by transaction volume in 2016, based on estimates from iResearch, a consulting company that measures China’s Internet industry.

The IPO would be the largest in the U.S. by a Chinese Internet company, according to data compiled by Bloomberg News. Would-be investors in the U.S. can join the likes of Prince Alwaleed Bin Talal, the founder of Kingdom Holding (and worth $32 billion himself, according to the Bloomberg Billionaires Index) as well as Tiger Global Management.

Talmer Bancorp (TLMR) began trading on the NASDAQ on 12 February 2014

Talmer Bancorp was acquired by Chemical Bank (CHFC).  (January 2016)

  • The new Chemical Bank would have 266 branch locations in Michigan as well as northeast Ohio and total about $16 billion in assets and $13 billion in deposits. It would be the sixth largest bank in Michigan by deposits, and the only one of those six headquartered in Michigan.
  • There are currently 185 Chemical Bank branches across the state but few in southeast Michigan. Talmer has 81 branches — 51 in Michigan and 27 in northeastern Ohio.
  • Under the deal, Midland-based Chemical Bank would buy outstanding shares of Talmer Bank for the equivalent of $1.1 billion in stock and cash, or $15.64 per share. Talmer shareholders would receive 0.4725 shares of Chemical stock and $1.61 per share in cash.

*****

Talmer Bancorp Inc., the U.S. Midwestern lender backed by Wilbur Ross, increased in its trading debut after raising about $202 million in an initial public offering.


The stock climbed 5.8 percent to $13.75 at 12:20 p.m. in New York for a market valuation of about $960 million, after offering almost 15.6 million Class A shares for $13 apiece. They had been marketed at $12.50 to $14.50 each. The Troy, Michigan-based company and stockholders, including WL Ross & Co., sold 22 percent of Talmer in the IPO.

The offering is the largest for a bank since BankUnited Inc. (BKU:US) raised $900 million in 2011, data compiled by Bloomberg show. While financials have raised more through IPOs than any other industry this year, totaling $2.8 billion, Talmer is the first bank to do an initial share sale. Royal Bank of Scotland Group Plc is readying an IPO for its RBS Citizens Financial Group Inc. U.S. unit, which is expected in 2014.

Talmer has acquired six banks since April 2010, with the latest being Michigan Commerce Bank, according to a regulatory filing. With 94 branches, the company had $4.7 billion in assets at the end of September.

Ross acquired a stake in Talmer through private placements in 2010 and 2012, and will own 18 percent after the offering, the filing showed. David Einhorn’s Greenlight Capital LLC and Goldman Sachs Group Inc. also sold shares.

Keefe, Bruyette & Woods, a unit of Stifel Financial Corp., managed the offering with JPMorgan Chase & Co. Talmer is listed on the Nasdaq Stock Market under the symbol TLMR.

Description

Talmer Bancorp, Inc. is a bank holding company. The Company owns three subsidiary banks, Talmer Bank and Trust and Talmer West Bank, which are Michigan state chartered banks, and First Place Bank, which is a federal savings association. Its product line includes loans to small and medium-sized businesses, residential mortgage loans, commercial real estate loans, residential and commercial construction and development loans, farmland and agricultural production loans, home equity loans, consumer loans and a variety of commercial and consumer demand, savings and time deposit products. The Company offers a full range of deposit services that are available from most banks and savings institutions, including checking accounts, commercial accounts, savings accounts and other time deposits of various types, ranging from daily money market accounts to longer-term certificates of deposit.

Address

Suite 525, 2301 West Big Beave
TROY, MI 48084
United States 

Key stats and ratios

Q3 (Sep '13)2012
Net profit margin19.58%13.22%
Operating margin12.04%19.46%
EBITD margin-24.58%
Return on average assets0.88%0.97%
Return on average equity7.03%5.15%
Employees1,412

Thursday, February 13, 2014

Potbelly (PBPB) : 16 months since IPO


CatchMark Timber Trust (CTT) began trading on the NYSE on 12 December 2013


CatchMark Timber Trust, Inc. is a real estate company investing in timberlands. The Company primarily engages in the ownership, management, acquisition and disposition of timberlands located in the United States. It is focused on investing in timberlands and to manage such assets to provide current income and attractive long-term returns to its stockholders. It owns all its properties and other investments through its operating partnership. The Company generates its income from the harvest and sale of timber, as well as from non-timber related revenue sources, such as recreational leases. As of September 30, 2013, the Company owned interests in approximately 280,000 acres of timberland, consisting of approximately 247,200 acres held in fee-simple interests, or its fee timberlands, and approximately 32,800 acres held in leasehold interests, or its leased timberlands.

The company to acquire timberland properties throughout the timber-producing regions of the United States and, to a lesser extent, in timber-producing regions outside the United States. The company intends to qualify as a REIT under the Internal Revenue Code of 1986. Wells Timberland REIT was founded in September 2005. It was formerly known as Wells Real Estate Investment Trust IV, Inc. and changed its name to Wells Timber Real Estate Investment Trust, Inc. in November 2005 and changed to Wells Timberland REIT, Inc. in 2006. The company is headquartered in Norcross, Georgia.

Address

Suite 150, 6200 The Corners Parkway
NORCROSS, GA 30092
United States 


Wednesday, February 12, 2014

Blackstone-backed La Quinta files for $100 million IPO


  • It's the third hotel company that private equity firm Blackstone has taken public in recent months.

La Quinta Holdings, a limited-service hotel chain backed by Blackstone Group, has filed with the U.S. Securities and Exchange Commission for an initial public offering of its common stock that could raise up to $100 million.

It's the third hotel company that private equity firm Blackstone has taken public in recent months. Hilton Worldwide had a record $2.3 billion IPO in December and Extended Stay America raised $565 million in its IPO in November.

In December, La Quinta submitted to the SEC a confidential draft registration statement for an IPO under the Jumpstart Our Business Startups (JOBS) Act.

Monday's SEC filing reveals more about the state of the company. It does not, however, disclose any pricing terms for the stock. Nor does it say which stock exchange it will list the stock on.

In its filing, La Quinta, founded in 1968, says it's the fastest-growing select-service brand in the USA, a category that includes Courtyard by Marriott and Hilton Garden Inn among others.

As of Sept. 30, 2013, the company had 836 hotels, up from 362 in 2003. Another 175 hotels are set to open in the USA, Mexico, Canada, Colombia and Honduras.

The company says in its filing that "following the industry-wide economic downturn that began in 2008, our operating performance has improved significantly over the past three years, during the strong lodging industry recovery that industry analysts believe will continue for the next several years."

For instance, its average daily rate went from $69.38 by the end of 2010 to $75.21 by the end of 2012.

Blackstone bought La Quinta in 2005 for $3.4 billion, including assumption of debt.

The $100 million is likely just a placeholder. Companies typically throw out numbers to calculate registration fees. Renaissance Capital, which tracks IPOs, estimates the company could raise at least $200 to $300 million.

The company said in its filing that J.P. Morgan and Morgan Stanley are the underwriters of the IPO.

Monday, February 10, 2014

LinkedIn to Acquire Bright

MOUNTAIN VIEW, Calif., Feb. 6, 2014 (GLOBE NEWSWIRE) -- LinkedIn, (NYSE:LNKD), the world's largest professional network on the Internet with approximately 277 million members worldwide, today announced it agreed to acquire Bright, a company that leverages data insights and matching technology to connect prospects and employers.


The transaction is valued at approximately $120 million, subject to adjustment, and consists of approximately 73 percent stock and approximately 27 percent cash. The stock being issued in the transaction will be done so in a private placement. Subject to the completion of customary closing conditions, the acquisition is expected to close during the first quarter of 2014.


"What LinkedIn does best is connect talent with opportunity at massive scale," said Deep Nishar, SVP of Products and User Experience. "By leveraging Bright's data-driven matching technology, machine-learning algorithms and domain expertise, we can accelerate our efforts and build out the Economic Graph."

"We're excited to join LinkedIn because the company shares a similar vision and is equally obsessed about using data and algorithms to connect prospects and employers," said Eduardo Vivas, who founded Bright in February 2011.

Following closing, several members of Bright's team, including those from Engineering and Product, will join LinkedIn. Bright's users and Hiring Solutions customers will be able to access existing data on its website through February 28.

Parker Barrile, vice president of product for LinkedIn Talent Solutions, blogged about the acquisition on the LinkedIn blog. A SlideShare presentation outlining the deal and showcasing several of Bright's employment market analyses can be found on LinkedIn's SlideShare page and on the investor relations section of the LinkedIn website. Vivas blogged about the acquisition on the Bright blog.

About LinkedIn

Founded in 2003, LinkedIn connects the world's professionals to make them more productive and successful. With approximately 277 million members worldwide, including executives from every Fortune 500 company, LinkedIn is the world's largest professional network on the Internet. The company has a diversified business model with revenue coming from Talent Solutions, Marketing Solutions and Premium Subscriptions. Headquartered in Silicon Valley, LinkedIn also has offices across the globe.