initial public offerings (IPOs) trading on American exchanges

Friday, February 24, 2017

Trivago (TRVG) reported earnings on Fri 24 Feb 17 (b/o)

  • Trivago reported its first earnings since splitting with Expedia in December.
** charts after earnings **

Though Trivago (TRVG) reported fourth-quarter 2016 results that were a hair below forecasts, the newly spun-out hotel booking site posted bullish numbers for the coming year that caused a short-lived rally on Friday.

Trivago broke even in the quarter, while Wall Street expected a profit of once cent per share. Revenues of EUR 169.2 million were EUR 400 million below forecasts. However, the company said it expects 2017 sales to grow 45 percent, which would expand the top line from nearly EUR 755 million around EUR 1.1 billion ($1.2 billion).

Even with Priceline (PCLN) , Alphabet's  (GOOGL) Google and others crowding the market, Trivago founder and CEO Rolf Schromgens said travel meta-search, in which companies scour travel sites for travel deals, is still a growing field.

Shares of Trivago, which compares deals on more than 200 web sites to find hotel bargains, gained more than 4% on Friday morning but closed down 1% at $12.85.

The report was Trivago's first since its split from Expedia (EXPE) through a $287 million IPO in December.

"The was not the idea of the spin to be more independent," Schromgens said. Expedia, which acquired a controlling stake in Trivago in 2013 for $632 million, remains an investor.

Expedia, which has a nearly $18 billion market cap and $8.8 billion in sales, grows through acquisitions such as the $3.9 billion purchase of HomeAway in November, in the weeks before the Trivago split. Other properties include digital travel agencies Orbitz and Travelocity and European hotel booking site

TripAdvisor (TRIP) is investing $200 million in its brand, according to forecasts from Cowen and Co.

Meanwhile, Priceline is buying metasearch company Momondo for $550 million.

Jeld-Wen Holding (JELD) : 1-month performance

Thursday, February 16, 2017

TrueCar Inc. (TRUE) reported earnings on Thur 16 Feb 2017 (a/h)

** charts before earnings ** 


** charts after earnings **


SANTA MONICA, Calif. (AP) _ TrueCar Inc. (TRUE) on Thursday reported a loss of $8 million in its fourth quarter.
The Santa Monica, California-based company said it had a loss of 9 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 1 cent per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The provider of localized information on new car costs posted revenue of $74.1 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $71.1 million.
For the year, the company reported that its loss narrowed to $41.7 million, or 49 cents per share. Revenue was reported as $277.5 million.
For the current quarter ending in April, TrueCar said it expects revenue in the range of $71 million to $73 million.
The company expects full-year revenue in the range of $315 million to $320 million.
TrueCar shares have increased 6 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.25, more than doubling in the last 12 months.

Wednesday, February 15, 2017

Bain Capital-owned Canada Goose files for a $100 million IPO

Canada Goose Inc, a Toronto designer and maker of outdoor luxury apparel, has filed for an initial public offering of its subordinate voting shares on the New York Stock Exchange and the Toronto Stock Exchange, according to a report by Reuters.

The company has priced the offering at US$100 million, Reuters said, citing a U.S. Securities Exchange Commission filing. It plans to list under the symbol “GOOS.”

Established in 1957, Canada Goose was acquired by U.S. private equity firm Bain Capital in December 2013. The IPO will include a secondary sale by Bain, according to the company’s preliminary prospectus. Bain will remain Canada Goose’s controlling shareholder upon completion of the IPO.

In October, Reuters reported Canada Goose was preparing for an IPO that could value it at as much as US$2 billion.

Thursday, February 9, 2017

Vista Outdoor (VSTO) reported earnings on Thur 9 Feb 2017 (b/o)

Sector: Consumer Cyclical
Industry: Leisure
Full Time Employees: 5,200
** charts after earnings **


Vista Outdoor reports EPS in-line, misses on revs; guides FY17 EPS below consensus, revs below consensus :
  • Reports Q3 (Dec) adj earnings of $0.62 per share, in-line with the Capital IQ Consensus of $0.62; revenues rose 10.3% year/year to $653.6 mln vs the $676.61 mln Capital IQ Consensus.
  • Co issues lowered guidance for FY17, sees EPS of $1.95-2.10 from $2.65-2.85 vs. $2.49 Capital IQ Consensus Estimate; sees FY17 revs of $2.50-2.54 bln from $2.72-2.78 bln vs. $2.69 bln Capital IQ Consensus Estimate.
  • "For the full year, we expect gross margins to be roughly in line with the third quarter results. While we will release formal guidance for FY18 during our May earnings call, we do expect the revenue and margin pressures we are experiencing in the back half of FY17 to continue into next year. Despite the pressures this year and next, the company is committed to a value-creating capital deployment strategy, long-term sales growth and margin improvement, and delivering long-term value to our shareholders."

Tuesday, February 7, 2017

Scorecard of select recent IPOS

Company                         Symbol  Percent  Current  Offer  IPO Date*
AnaptysBio Inc.                 ANAB    23%      $18.50   $15.00 26-Jan-17
Kimbell Royalty Partners LP     KRP     14%      $20.52   $18.00 3-Feb-17
Keane Group Inc.                FRAC    11%      $21.00   $19.00 20-Jan-17
Jounce Therapeutics Inc.        JNCE    10%      $17.57   $16.00 27-Jan-16
Trivago NV                      TRVG    4%       $11.49   $11.00 16-Dec-16
Invitation Homes Inc.           INVH    4%       $20.78   $20.00 1-Feb-17
Hebron Technology Co.           HEBT    2%       $4.07    $4.00  27-Dec-16
Jagged Peak Energy Inc.         JAG     -4%      $14.45   $15.00 27-Jan-16
Ramaco Resources Inc.           METC    -6%      $12.67   $13.50 3-Feb-17
ObsEva SA                       OBSV    -22%     $11.65   $15.00 26-Jan-17
 *Date represents first day of trading

Wednesday, February 1, 2017

Laureate (LAUR) began trading on Nasdaq on 1 Feb 2017

  • Laureate works with more than 70 institutions in 25 countries.
  • Laureate was taken private in a $3.8 billion deal in 2007 by a group of investors that included Snow Phipps Co and Kohlberg Kravis Roberts & Co. That partnership will continue to control the firm after the stock offering, according to the SEC filing.

Laureate Education CEO Douglas Becker, Nasdaq CEO Adena Friedman and Baltimore Mayor Catherine Pugh cheer Laureate's IPO.

Laureate on Times Square. (Photo via Nasdaq/Facebook)

1 and 3 weeks after IPO


Headquartered in Harbor East, Laureate has grown into the largest global network of degree-granting higher-education institutions, owning and operating 71 universities in 25 countries, many in emerging markets. The firm employs more than 67,000 people globally and about 1,130 at its offices in Baltimore and Columbia. It is one of the few “B Corp” companies, those certified as meeting standards of social and environmental performance and accountability, to go public.

The company was born out of Sylvan Learning Corp., a tutoring company Becker and his business partners acquired in 1991. By that time, Maryland native Becker, who attended the Gilman School and was accepted at Harvard University but never attended, already had achieved entrepreneurial success. At 19, he developed the wallet-sized “LifeCard,” which was encoded with a person’s medical history and adopted by health insurers.