initial public offerings (IPOs) trading on American exchanges

Friday, May 25, 2018

Pluralsight (PS) began trading on the Nasdaq on 17 May 2018

Pluralsight is an online education company that offers a variety of video training courses for software developers, IT administrators, and creative professionals through its website.
  • Sector: Technology
  • Industry: Software - Application
  • Founded in 2004
  • Headquartered in Farmington, Utah
  • IPO day: Stock opened up 33 percent over pre-opening price and closed at $20.21 a share

 Pluralsight was launched by Skonnard and three others in 2004 offering in-person, classroom-based technology classes. After spending four years teaching at locations all over the world and building a reputation for a high-caliber curriculum, Skonnard and his team recognized that internet tools had finally evolved to the point where they could move their classes online. The digital reboot of the company launched in 2008 with a selection of its 10 most popular classes and has since evolved into an operation that offers almost 7,000 cloud-based courses. It has also built a customer base of 14,000 business clients in 150 countries and, so far, capturing 60 percent of the Fortune 500 companies.

Unlike many tech startup financing endeavors that scramble for outside funding before a product is ever developed, Pluralsight has been a company on the opposite track, opting to self-finance, or "bootstrap" its operation for nearly a decade before taking on investors.

Pluralsight founder and CEO Aaron Skonnard poses for a photo at Pluralsight in Farmington on Friday, Sept. 29, 2017

Pluralsight's early pricing moved up steadily ahead of the stock launch, initially estimated at $10-$12 in a company filing with the U.S. Securities and Exchange Commission. Eventually, it reached a $15 a share pre-opening price and the company was poised to earn just over $310 million on the 20.7 million initial shares.

On opening, the stock jumped 33 percent over that price and finished regular trading Thursday at $20.21 a share.

Thursday, May 24, 2018

CLPS Inc. (CLPS) began trading on the Nasdaq on 24 May 2018

CLPS, which provides professional IT services to financial firms in China, raised $10.5 million by offering 2.0 million shares at $5.25, within the range of $5.00 to $5.50.  At pricing, it commands a market value of $70 million an an enterprise value of $57 million.

Luxoft Holding (LXFT) reported earnings on Thur 24 May 18 (b/o)

Luxoft Holding, Inc. provides software development services and IT solutions to multinational corporations primarily in Europe and the United States.

  • Zug, Switzerland
  • Sector: Technology
  • Industry: Software - Application
  • Full Time Employees: 13,101

** charts after earnings **


Luxoft Holding misses by $0.01, beats on revs; guides Q1 revs below consensus 
  • Reports Q4 (Mar) earnings of $0.59 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.60; revenues rose 14.1% year/year to $232.9 mln vs the $228.74 mln Capital IQ Consensus.
    • Co's top two accounts amounted to 34.1% of revenue, representing a 3.4 percentage-point decrease over the prior year. 
    • Co's top five accounts amounted to 46.8% of revenue, an annual 4.9 percentage-point decrease, and top ten accounts amounted to 56.3% of revenue, a 6.0 percentage point decrease.
  • Co issues downside guidance for Q1, sees Q1 revs of $210-215 mln vs. $237.48 mln Capital IQ Consensus Estimate.
Co states, "For the first quarter of fiscal 2019, we expect revenue and adjusted EBITDA margin to be in the range of $210 to $215 million and 8.5% to 9.5%, respectively. Based on project timing, seasonality, ramp down of the large Financial Services account and planned expenses related to SG&A optimization, we expect this to be our slowest quarter and for growth to accelerate as we move through fiscal 2019."

Wednesday, May 23, 2018

nLIGHT (LASR) reported earnings on Wed 23 May 18 (a/h)

nLight, Inc is an American laser company.  Its fiber laser technology helps more than 300 customers manufacture everything from electric vehicles to smartphones. nLight has customers like Samsung, Raytheon and BAE, with 66 percent of its business is generated outside of the U.S.
Headquarters: Vancouver, WA
Founder & CEO: Scott Keeney
Founded: 2000
IPO:  April 26, 2018

** chart before earnings **

** chart after earnings **

nLIGHT beats by $0.02, beats on revs; guides Q2 revs above consensus 
  • Reports Q1 (Mar) earnings of $0.10 per share, $0.02 better than the Capital IQ Consensus of $0.08; revenues rose 42.1% year/year to $42.5 mln vs the $42.06 mln Capital IQ Consensus and $41-43 mln guidance in IPO prospectus; gross margin of 34.7% vs. 33-36% guidance.
  • Co issues upside guidancefor Q2, sees Q2 revs of $48-52 mln vs. $48.13 mln Capital IQ Consensus, gross margin to be in the range of 33.0% to 36.0%, and income from operations in the range of $5.0 million to $7.0 million. 

nLight CEO Scott Keeney.

nLight priced its initial public offering at $16 per share on Thursday, above its expected range, and the stock (LASR) finished the day at $26.95. The company raised $96 million as part of the IPO.

Sunday, May 20, 2018

Physicians Realty Trust (DOC) : 5-year performance

Real estate investment trust company (REIT)
Physicians Realty Trust is a self-managed healthcare real estate company organized to acquire, selectively develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems.
  • Headquarters: Wisconsin
  • Founded: 2013
  • Sector: Real Estate
  • Industry: REIT - Healthcare Facilities
  • Full Time Employees: 63
  • Forward Dividend & Yield 0.92 (5.97%)


Friday, May 11, 2018

Supernus Pharma (SUPN) reported earnings on Mon 7 May 2018 (a/h)

** charts 2 days after earnings **


ROCKVILLE, Md. (AP) _ Supernus Pharmaceuticals Inc. (SUPN) on Tuesday reported first-quarter profit of $26.4 million.
On a per-share basis, the Rockville, Maryland-based company said it had net income of 49 cents.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The drugmaker posted revenue of $90.4 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $88.2 million.
Supernus shares have increased 12 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $44.65, a rise of 40 percent in the last 12 months.

=Huya (HUYA) began trading on the NYSE on 11 May 2018

HUYA Inc., through its subsidiaries, operates game live streaming platforms in the People's Republic of China. Its platforms enable broadcasters and viewers to interact during live streaming. The company also provides advertising and online game-related services.
Headquarters: Guangzhou, China
Founded: 2014
Sector: Consumer Cyclical
Industry: Media - Diversified
Full Time Employees: 818
Parent organization: YY
  • Huya (NYSE:HUYA) -- the live videogame streaming unit of YY (YY +2.5%) -- has opened trading at $15.50 and jumped to $15.95.
  • That's now up about 33% from its IPO price of $12.
  • Huya drew net revenues of $335.8M in 2017, along with gross profit of $39.2M.

Thursday, May 10, 2018

ARMO BioSciences (ARMO) to be acquired by Eli Lilly (LLY) for $50.00/share


ARMO BioSciences to be acquired by Eli Lilly (LLY) for $50.00/share, or approximately $1.6 billion, in an all-cash transaction
The acquisition will bolster Lilly's immuno-oncology program through the addition of ARMO's lead product candidate, pegilodecakin, a PEGylated IL-10 which has demonstrated clinical benefit as a single agent, and in combination with both chemotherapy and checkpoint inhibitor therapy, across several tumor types. Lilly will promptly commence a tender offer to acquire all shares of ARMO BioSciences for a purchase price of $50 per share in cash, or approximately $1.6 billion. The transaction is expected to close by the end of the second quarter of 2018

** charts before **


Axa Equitable (EQH) began trading on the NYSE on 10 May 2018

AXA Equitable Holdings, Inc. provides various financial services worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions.
  • Sector: Financial Services
  • Industry: Insurance - Diversified
  • Full Time Employees: 7,500

Axa's $15.3 billion takeover of global property casualty firm XL Group was a monster deal in the insurance world, but Paris-based Axa's plan to pay for the acquisition has come up short.

The French company is selling its U.S. business, Axa Equitable Holdings, in an initial public offering. But the money it raised was about $1 billion less than the goal.

The IPO priced at $20 a share, below the expected $24 to $27 per share range. It opened trading at $19.75 on Thursday at the New York Stock Exchange under the ticker symbol EQH.

At $2.75 billion in proceeds, the deal is still the largest U.S. IPO of the year, according to Renaissance Capital. But it was far less than the $3.7 billion it had expected to raise at the high end of the pricing range.

Insurers have been a beaten-down sector this year. Principal Financial shares are down more than 17 percent, while shares of Prudential Financial and Lincoln National are both down more than 12 percent, and shares of MetLife have fallen 7.7 percent.

Axa Equitable begins trading in that difficult environment and at a time when the parent company Axa was counting on the proceeds from the IPO, two factors that put pressure on the opening price, said Kathleen Smith, principal at Renaissance and manager of IPO ETFs.

"Investors realized the deal needed to get done," Smith told CNBC on Thursday. "They had the upper hand."

Morgan Stanley and J.P. Morgan Chase led the IPO.

Tuesday, May 8, 2018

Gogo Inc.(GOGO) : Moody's lowers the company's credit ratings

** charts after downgrade **  


Moody's lowered the company's credit ratings across the board.

In a research note published after the closing bell on Monday, Moody's lowered Gogo's corporate credit rating and probability-of-default grade from B3 to Caa1. The speculative grade liquidity rating fell from SGL-2 to SGL-3.

Moody's view of Gogo moved from "highly speculative" to "substantial risks," with a negative outlook that could lead to even further rating cuts in the near term.

Inovalon (INOV) reported earnings on Tue 8 May 2018 (a/h)

  • BOWIE, Md. (AP) _ Inovalon Holdings Inc. (INOV) on Tuesday reported a first-quarter loss of $16.3 million, after reporting a profit in the same period a year earlier.
  • ** charts before earnings **


    ** charts after earnings **


    Inovalon misses by $0.10, misses on revs; guides FY18 EPS below consensus, reaffirms FY18 revs guidance 
    • Reports Q1 (Mar) loss of $0.04 per share, excluding non-recurring items, $0.10 worse than the Capital IQ Consensus of $0.06; revenues fell 14.4% year/year to $92.76 mln vs the $107.76 mln Capital IQ Consensus.
      • Cost of revenue for the first quarter of 2018 was $33.5 million, or 36.1% of revenue, compared with $38.3 million, or 35.3% of revenue for the first quarter of 2017.
    • Co issues guidance for FY18, sees EPS of $0.32-0.38, excluding non-recurring items, vs. $0.39 Capital IQ Consensus Estimate; sees FY18 revs of $568-593 mln vs. $576.37 mln Capital IQ Consensus Estimate.
      • previous EPS guidance was $0.36-0.42