Baidu (BIDU) may spin off its online video streaming unit iQiyi

Chinese search engine Baidu (BIDU) may be looking to spin off and list its online video streaming unit iQiyi, the Wall Street Journal reported on Thursday.

Ticker: IQ 

According to the WSJ, Baidu is looking to raises $1 billion through a Hong Kong or U.S. listing of iQiyi in 2017, which would value the online video platform at roughly $5 billion.

iQiyi is the number one online video platform in China in terms of both market share and the number of paying subscribers.

Spinning off iQiyi would be good news for Baidu’s shareholders as it would to unlock the value of the internet giant’s non-core assets.

InvenSense (INVN ) to be acquired TDK Corporation for $13.00/share in cash

• InvenSense is an Apple supplier

  

 

TDK Corporation to acquire INVN for $13.00/share in cash :

• Co entered into a definitive agreement today wherein TDK agrees to acquire all of the outstanding InvenSense shares for cash at an acquisition price of $13.00 per InvenSense share, for a total acquisition price of $1.3 bln. The transaction has been unanimously approved by the Boards of Directors of both companies. Completion of the transaction is expected in second quarter of the fiscal year ending March 31, 2018, and is subject to approvals by InvenSense shareholders and the relevant regulatory authorities.
• Transaction brings together more complete portfolio of sensor and software solutions spanning inertial, pressure, microphone and ultrasonic wave sensor products and technologies from InvenSense, with TDK's pressure, temperature, electric current and various other sensors.
• Transaction will be financed with cash-on-hand.
• In January 2016, TDK established a joint venture with Qualcomm (QCOM), called RF360 Holdings Singapore PTE, Ltd., and has also entered into agreements to expand technical cooperation in a wide range of fields including passive components, batteries, wireless power transfer, sensors.

TWLO — is it a buy?

• Dec 20:  #20;  Is TWLO a buy?

Next day, Dec. 21:

Dec. 22:

 

Trivago NV (TRVG) began trading on Nasdaq on 16 Dec 2016

• Trivago NV is a German hotel search and booking site
• Rivals: TripAdvisor Inc. and Priceline Group Inc.
• Spinoff from Expedia 

Trivago founder and CEO Rolf Schromgens

Smart Sand (SND) reported earnings on Thur 15 Dec 2016 (a/h)

** charts after earnings **

Smart Sand beats by $0.03, beats on revs :

• Reports Q3 (Sep) net of breakeven, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of ($0.03); revenues rose 21.1% year/year to $10.9 mln vs the $9.99 mln Capital IQ Consensus.
  • Adj EBITDA was $4.5 million for the third quarter ended September 30, 2016 compared to Adjusted EBITDA of $3.5 million during same period last year, an increase of 29% on a year-over-year basis and an increase of 173% sequentially compared to second quarter of 2016 Adjusted EBITDA of $1.7 million.
• "We continue to see signs of recovery in the raw frac sand market as growth in activity in oil and gas drilling and completions continues to improve. We are confident that the scale of our operations, gradation of our sand reserves, and our dual-serve rail capabilities positions us well to be a strong competitor in the frac sand marketplace. We look forward to the future of Smart Sand."

Inphi (IPHI) completes acquisition of ClariPhy Communications

SANTA CLARA, CA -- (Marketwired) -- 12/12/16 -- Inphi Corporation (NYSE: IPHI), a leading provider of high-speed data movement interconnects, today announced that it has completed the acquisition of ClariPhy Communications, Inc., as announced on November 1, 2016, in a transaction valued at $277 million plus the assumption of certain liabilities.

'By finalizing the ClariPhy acquisition we achieve an important milestone in offering a platform for optical networking customers,' said Ford Tamer, President and CEO of Inphi Corporation. 'The ClariPhy coherent DSP complements Inphi TiA, driver, optical PHY and silicon photonics components to provide system OEM and module customers high-performance and low-power platform solutions. We believe this will provide customers with faster time-to-market, proven quality, and competitive cost.'

IHS estimates the total available market for 100G & 200G coherent optical network hardware will grow at 18% CAGR, from $3.2 billion to $7.4 billion, between 2015 and 2020. This growth will be driven by several concurrent, powerful tailwinds: the current optical super cycle, a growing and expanding SAM (serviceable available market), opportunities in regions such as China and with new markets such as Cloud. Inphi believes that this acquisition will position the Company to be one of the most comprehensive component and platform suppliers across all three optical market segments inside/outside data centers, metro and long haul.

About Inphi
Inphi Corporation is a leader in high-speed data movement. We move big data fast, throughout the globe, between data centers, and inside data centers. Inphi's expertise in signal integrity results in reliable data delivery, at high speeds, over a variety of distances. As data volumes ramp exponentially due to video streaming, social media, cloud-based services, and wireless infrastructure, the need for speed has never been greater. That's where we come in. Customers rely on Inphi's solutions to develop and build out the Service Provider and Cloud infrastructures, and data centers of tomorrow. To learn more about Inphi, visit www.inphi.com.

Dave & Busters (PLAY) reported earnings Tue 6 Dec 2016 (a/h)

** charts after earnings **

 

Dave & Buster’s Entertainment PLAY released its third quarter fiscal 2016 financial results after the bell, posting earnings of 25 cents per share and revenues of $228.7 million. 

Beat earnings estimates. The company reported earnings of 25 cents per share, beating the Zacks Consensus Estimate of 13 cents per share and growing a whopping 108% year-over-year. Net income was $10.8 million.

Beat revenue estimates. The company saw revenue figures of $228.7 million, also beating our consensus estimate of $213 million and growing 18.6% year-over-year.

Dave & Buster’s saw comparable store sales increase 5.9% during the quarter, compared to an increase of 8.8% in the year-ago period.

Looking ahead, the company has raised its full-year fiscal 2016 financial outlook. Total revenues are expected to be in the range of $998 million to $1.003 billion. Q4 comps should fall between an increase of 2.5% and 4.5%, while net income is expected to be in the range of $86.5 million to $88.5 million.

"Dave & Buster's delivered exceptional quarterly results and we are pleased to be increasing our annual guidance. Our strength was broad-based as we experienced momentum across the country and throughout the quarter. Guests responded well to the conclusion of our 'Summer of Games' promotion, along with our subsequent football-related promotions," said Steve King, Chief Executive Officer.

Coupa Software (COUP) reported earnings Mon 5 Dec 2016 (a/h)

• COUP was previously used by Coupons.com (COUP)

** charts before earnings **

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Coupa Software beats by $0.25, beats on revs; guides Q4 EPS, revs above consensus :

• Reports Q3 (Oct) loss of $0.22 per share, excluding non-recurring items, $0.25 better than the Capital IQ Consensus of ($0.47); revenues rose 55.4% year/year to $35.44 mln vs the $31.1 mln Capital IQ Consensus.
• Co issues upside guidance for Q4, sees EPS of ($0.19-0.16), excluding non-recurring items, vs. ($0.23) Capital IQ Consensus Estimate; sees Q4 revs of $35.5-36 mln vs. $32.40 mln Capital IQ Consensus Estimate.

Juno Therapeutics (JUNO) reported earnings on Tue 22 Nov 2016 (a/h)

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Nimble Storage (NMBL) reported earnings on Tue 11/22/16 (a/h)

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Nimble Storage reports EPS in-line, revs in-line; guides Q4 EPS just below consensus, revs in-line  :

• Reports Q3 (Oct) loss of $0.18 per share, in-line with the Capital IQ Consensus of ($0.18); revenues rose 26.4% year/year to $102 mln vs the $101.95 mln Capital IQ Consensus. 
  • Strong All Flash array momentum; over 24% of total Product Bookings, up from 17% in prior quarter
  • Customer base up 38% in Q3FY17 year-over-year; over 9,450 customers worldwide; year-over-year bookings from Large Enterprises (Global 5000) grew 53% and bookings from Cloud Service Providers grew 65%
  • Large deals drive growth: >$100K deals represent 50% of bookings and >$250K deals represent 24% of bookings
• Co issues guidance for Q4, sees EPS of ($0.13)-(0.15) vs. ($0.12) Capital IQ Consensus Estimate; sees Q4 revs of $112-115 mln vs. $113.03 mln Capital IQ Consensus Estimate.

Adient (ADNT) began trading on the NYSE on 25 October 2016

• Adient is the world’s largest maker of automotive seating.
• Spun out of Johnson Controls International (JCI).

Adient’s AI17 luxury-seating concept for automated driving systems.

Veeva Systems (VEEV) reported earnings on Tue 11/22/16 (a/h)

** charts before earnings **

** charts after earnings **

 

Veeva Systems beats by $0.06, beats on revs; guides Q4 EPS above consensus, revs above consensus  :

• Reports Q3 (Oct) earnings of $0.22 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $0.16; revenues rose 33.6% year/year to $142.8 mln vs the $135.8 mln Capital IQ Consensus.
• Co issues upside guidance for Q4, sees EPS of $0.17, excluding non-recurring items, vs. $0.15 Capital IQ Consensus Estimate; sees Q4 revs of $145-146 mln vs. $140.65 mln Capital IQ Consensus Estimate.
• "Consistently strong demand across product lines drove better than expected revenue and profitability in the third quarter...We continue to execute well against our multi-billion dollar market opportunity and remain slightly ahead of our revenue target for 2020."

Cheetah Mobile (CMCM) earnings on Mon 21 Nov 2016 (b/o)

** charts after earnings **

  

BEIJING (AP) _ Cheetah Mobile Inc. (CMCM) on Monday reported third-quarter net income of $68,000.

The Beijing-based company said it had net income of less than 1 cent on a per-share basis. Earnings, adjusted for stock option expense, came to 8 cents per share.

The mobile internet company posted revenue of $169.2 million in the period.

For the current quarter ending in December, Cheetah Mobile said it expects revenue in the range of $180 million to $186 million.

Cheetah Mobile shares have dropped 34 percent since the beginning of the year. The stock has fallen 45 percent in the last 12 months.

Snap files for $4B IPO

Snapchat will seek to raise as much as $4 billion in its IPO at a valuation of about $25 billion to $35 billion.
Snapchat’s parent filed the paperwork for an initial public offering with the Securities and Exchange Commission ahead of the presidential election, sources say. An IPO would value Snap at up to $25 billion, making it the largest U.S.-listed technology offering since Chinese e-commerce company Alibaba Group Holding Ltd. made its debut in 2014 at a $168 billion valuation.

Amplify Snack Brands (BETR) reported Q3 earnings on Mon 14 November 2016

** charts after earnings **

** 3 days later **

AUSTIN, Texas (AP) _ Amplify Snack Brands Inc. (BETR) on Monday reported third-quarter net income of $1.6 million, after reporting a loss in the same period a year earlier.

The Austin, Texas-based company said it had profit of 2 cents per share. Earnings, adjusted for non-recurring costs, were 12 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The popcorn and tortilla chip maker posted revenue of $68 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $64.7 million.

Amplify expects full-year earnings in the range of 49 cents to 51 cents per share, with revenue in the range of $268 million to $272 million.

Amplify shares have increased 17 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.47, a rise of 11 percent in the last 12 months.