initial public offerings (IPOs) trading on American exchanges

Thursday, February 28, 2019

Cars.com (CARS) reported earnings on Thur 28 Feb 19 (b/o)

** charts before earnings **


 






** charts after earnings **








 Cars.com misses by $0.07, misses on revs; guides FY19 revs below consensus; STrategic Alternatives remains on going 
  • Reports Q4 (Dec) earnings of $0.50 per share, excluding non-recurring items, $0.07 worse than the S&P Capital IQ Consensus of $0.57; revenues rose 4.9% year/year to $164.3 mln vs the $166.59 mln S&P Capital IQ Consensus.
    • Average monthly unique visitors of 18.8 million, up 12% year-over-year;
    • Traffic (visits) of 445.3 million, up 11% year-over-year;
    • Mobile traffic accounted for 67% of total traffic compared to 59% in 2017;
    • Dealer customer count of 19,921 as of December 31, 2018, compared with 20,407 as of September 30, 2018 Direct monthly average revenue per dealer ("ARPD") of $2,098, up 6% year-over-year.
  • Co issues downside guidance for FY19, sees FY19 revs of (5%)-2% (Approx $628-675 mln) vs. $699.30 mln S&P Capital IQ Consensus. In 2019, based on lower dealer count to start the year, the Company expects a revenue range between a 5% decline and 2% growth with Adjusted EBITDA margins between 30% and 31%. In both 2020 and 2021 the Company expects to achieve year-over-year revenue growth between 5% and 12% and Adjusted EBITDA margins between 32% and 34%. In both years and under all scenarios, the Company expects double-digit Adjusted EBITDA growth.

Tuesday, February 26, 2019

MongoDB (MDB) to report earnings on Wednesday, March 13, 2019.

NEW YORK, Feb. 26, 2019 /PRNewswire/ -- MongoDB, Inc. (MDB), the leading modern, general purpose database platform, today announced it will report its financial results for the fourth quarter and full year ended January 31, 2019, after the U.S. financial markets close on Wednesday, March 13, 2019.

 




About MongoDB
MongoDB is the leading modern, general purpose database platform, designed to unleash the power of software and data for developers and the applications they build. Headquartered in New York, MongoDB has more than 8,300 customers in over 100 countries. The MongoDB database platform has been downloaded over 45 million times and there have been more than one million MongoDB University registrations.

Friday, February 22, 2019

Pinterest files confidentially to go public

Pinterest, which launched in 2010, generates revenue from ads scattered across its site. Revenue exceeded $700 million in 2018, up 50% from the prior year.

Visual search engine Pinterest  has joined a long list of high-flying technology companies planning to go public in 2019. The business has confidentially submitted paperwork to the Securities and Exchange Commission for an initial public offering slated for later this year, according to a report from The Wall Street Journal.

Pinterest declined to comment.

Founded in 2008 by Ben Silbermann, earlier reports indicated the company was planning to debut on the stock market in April. In late January, Pinterest took its first official step toward a 2019 IPO, hiring Goldman Sachs and JPMorgan Chase as lead underwriters for its offering.

The company garnered a $12.3 billion valuation in 2017 with a $150 million financing.

Touting 250 million monthly active users, Pinterest has raised nearly $1.5 billion in venture capital funding from key stakeholders Bessemer Venture Partners, Andreessen Horowitz, FirstMark Capital, Fidelity and SV Angel. The business brought in some $700 million in ad revenue in 2018, per reports, a 50 percent increase year-over-year.

Pinterest employs 1,600 people across 13 cities, including Chicago, London, Paris, São Paulo, Berlin and Tokyo. The company says half its users live outside the U.S.

Pinterest will likely follow Lyft,  Uber and Slack to the public markets, which have all filed confidential paperwork for IPOs or, in Slack’s case, a reported direct listing, expected in the coming months.

Wednesday, February 20, 2019

Carbon Black (CBLK) reported earnings on Wed 20 Feb 2019 (a/h)

** charts before earnings **



 



** charts after earnings **



 


Carbon Black beats by $0.04, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY19 EPS above consensus, revs below consensus
  • Reports Q4 (Dec) loss of $0.20 per share, $0.04 better than the S&P Capital IQ Consensus of ($0.24); revenues rose 27.6% year/year to $56.9 mln vs the $55.59 mln S&P Capital IQ Consensus.
  • During the three months ended December 31, 2018, CBLK used ($9.2) million of cash in operations and ($1.1) million in capital expenditures and capitalized software development costs, leading to negative free cash flow of ($10.3) million, compared to positive free cash flow of $3.6 million in the year-ago period.
  • Co issues downside guidance for Q1, sees EPS of ($0.23)-($0.22) vs. ($0.21) S&P Capital IQ Consensus; sees Q1 revs of $56.5-$57.5 mln vs. $58.77 mln S&P Capital IQ Consensus.
  • Co issues mixed guidance for FY19, sees EPS of ($0.64)-($0.61) vs. ($0.69) S&P Capital IQ Consensus; sees FY19 revs of $240-$244 mln vs. $257.25 mln S&P Capital IQ Consensus.

Monday, February 18, 2019

IPOs this week : Feb. 18-22, 2019



Another quiet week is on tap for the IPO market with no new pricings anticipated.

Investors will take a look at Carbon Black (NASDAQ:CBLK) earnings on February 19 and Dropbox (NASDAQ:DBX) earnings on February 21, but mainly there is a lull while government shutdown delays play out. While Levi Strauss (LEVI) created some excitement with its IPO filing as the company looks to enter new market categories, postponed public offerings from Cibus (NASDAQ:CBUS), BankFlorida (NASDAQ:BFL) and Virgin Trains (NASDAQ:VTUS) tempered enthusiasm that the IPO market is heating up.

Sunday, February 17, 2019

Levi Strauss IPO


Levi Strauss filed plans for an IPO on Wednesday, 35 years after a leveraged buyout took the jeans maker private. The Levi Strauss IPO aims to raise $100 million, though that is believed to be a placeholder. Renaissance Capital estimates the initial public offering could raise up to $750 million.


"We are an iconic American company with a rich history of profitable growth, quality, innovation and corporate citizenship," Levi Strauss said in its IPO prospectus.

The San Francisco-based company was founded in 1853 as a wholesale dry goods business and introduced its denim blue jeans 20 years later. In addition to jeans, the company makes casual and dress pants, tops, shorts, skirts, jackets, footwear and related accessories. Its brands include Dockers, Denizen and Signature.

Levi Strauss products are sold in more than 50,000 retail shops in 110 countries. It also has company-operated e-commerce sites.

Levi Strauss Revenue
For the 12-month period ended Nov. 25, Levi Strauss reported revenue of $5.57 billion, up 14% from the year-ago period, with net income of $285.2 million.

The lead underwriters for the Levi Strauss IPO are Goldman Sachs, JPMorgan and BofA Merrill Lynch. It plans to list on the NYSE under the ticker LEVI. No pricing terms were disclosed. Levi Strauss said it'll use IPO proceeds for general corporate purposes, including working capital and capital expenditures.

CEO Charles Bergh joined Levi Strauss in 2011. He previously spent 28 years in leadership roles at Procter & Gamble (PG).

Denim Stock Blues
Among apparel retail stocks with denim exposure, Gap (GPS) fell 0.1% on the stock market today, well off session lows. American Eagle Outfitters (AEO) slid 1.5%, Abercrombie & Fitch (ANF) retreated 2.3% and Urban Outfitters (URBN) 1.8%. Guess (GES) reversed higher to close up 0.5%.

Thursday, February 14, 2019

TrueCar (TRUE) reported earnings on Thur 14 Feb 2019 (a/h)

** charts before earnings ** 

 




** charts after earnings **







Missed on Q4 EPS and revs and issued downside guidance for Q1 and FY19 revs; average monthly unique visitors to co's site decreased 10% year/year to 6.5 mln in the quarter. Downgraded at RBC Capital Mkts (to Sector Perform), B. Riley FBR (to Neutral), and Craig Hallum (to Hold). Also acquired 20% stake in vehicle appraisal technology company Accu-Trade. At two-year lows.

TrueCar misses by $0.02, misses on revs; guides Q1 revs below consensus; guides FY19 revs below consensus
  • Reports Q4 (Dec) earnings of $0.03 per share, $0.02 worse than the S&P Capital IQ Consensus of $0.05; revenues rose 9.6% year/year to $91.1 mln vs the $96.03 mln S&P Capital IQ Consensus.  Average monthly unique visitors decreased 10% to 6.5 million in the fourth quarter of 2018, down from approximately 7.3 million in the fourth quarter of 2017. In FY 2018, average monthly unique visitors increased 2% to approximately 7.5 million, up from 7.4 million in FY 2017. Units were 257,017 in the fourth quarter of 2018, up from 239,521 in the fourth quarter of 2017.
  • Co issues downside guidance for Q1, sees Q1 revs of $84-86 mln vs. $93.07 mln S&P Capital IQ Consensus. Q1 Guidance: Adjusted EBITDA is expected to be in the range of $3 million to $5 million.
  • Co issues downside guidance for FY19, sees FY19 revs of $371-378 mln vs. $410.27 mln S&P Capital IQ Consensus.  FY19 Guidance: Adjusted EBITDA is expected to be in the range of $35 million to $40 million.
TrueCar also acquires a 20% stake in vehicle appraisal technology company Accu-Trade, LLC; terms not disclosed
Accu-Trade's mobile-first product offering, leveraging Galves Market Data, provides instant, VIN-specific appraisals anytime and on any device with insights including real-time mileage, option, history, and condition-specific valuation adjustments; local market data, common problems, recall notices, and historical trends; and vehicle history reports and guidebook integrations.

Saturday, February 9, 2019

IPOs this week : Feb. 11 - 15, 2019

IPOs expected to price:

  • Anchiano Therapeutics (ANCN) on February 11; 
  • Virgin Trains USA (VTUS) on February 12; 
  • TCR2 Therapeutics (TCRR)
  • Cibus (CBUS) and Avedro (AVDR) on February 13; 
  • Stealth BioTherapeutics (MITO) on February 14.


IPO activity: In case you missed it, the IPO market was lit up with the news that Postmates (POSTM) and Slack (SLACK) filed for confidential listings.

There are IPO share lock-up expirations upcoming on Avalon GloboCare (OTCQB:AVCO) and Aridis Pharmaceuticals (NASDAQ:ARDS) on February 12 and Safe-T (NASDAQ:SFET) on February 13.

Friday, February 8, 2019

Phillips 66 Partners (PSXP) reported earnings on Fri 8 Feb 2019 (b/o)

** charts after earnings **



 







Phillips 66 Partners beats by $0.13, beats on revs
  • Reports Q4 (Dec) earnings of $1.09 per share, $0.13 better than the S&P Capital IQ Consensus of $0.96; revenues rose 18.7% year/year to $393 mln vs the $375.17 mln S&P Capital IQ Consensus.
  • Phillips 66 Partners is expanding the Sweeny to Pasadena Pipeline by 80,000 barrels per day (BPD). In addition, products storage capacity will be increased by 300,000 barrels at the Pasadena Terminal and new connectivity will be added to third-party terminals.
  • The project is expected to be completed in the second quarter of 2020. 
  • On Jan. 22, 2019, the general partner's board of directors declared a fourth-quarter 2018 cash distribution of $0.835 per common unit, a 5.4 percent increase over the previous quarter distribution of $0.792 per common unit.

Wednesday, February 6, 2019

Elanco Animal Health (ELAN) reported earnings on Wed 6 Feb 2019 (b/o)

** charts before earnings **







** charts after earnings **







Elanco Animal Health beats by $0.02, reports revs in-line; reaffirms FY19 EPS, revs guidance
  • Reports Q4 (Dec) earnings of $0.29 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.27; revenues rose 6.0% year/year to $799.3 mln vs the $804.07 mln S&P Capital IQ Consensus.
  • Gross margin, as a percent of revenue, was 48 percent, an increase of 200 basis points period over period. The gross margin increase was primarily due to favorable product mix and non-recurring costs in 2017 associated with the unwinding of purchase accounting inventory adjustments, partially offset by 200 basis points of unfavorable impact from foreign exchange rates.
  • Co reaffirms guidance for FY19, sees EPS of $1.02-1.12, excluding non-recurring items, vs. $1.10 S&P Capital IQ Consensus; sees FY19 revs of $3.1-3.16 bln vs. $3.15 bln S&P Capital IQ Consensus.

MacroGenics (MGNX) announced positive results from SOPHIA






MacroGenics announced positive results from SOPHIA, a Phase 3 clinical study of margetuximab in HER2-positive metastatic breast cancer patients
  • The SOPHIA clinical trial met the primary endpoint of prolongation of progression-free survival (PFS) in patients treated with the combination of margetuximab plus chemotherapy compared to trastuzumab plus chemotherapy. Patients in the margetuximab arm experienced a 24% risk reduction in PFS compared to patients in the trastuzumab arm (HR=0.76, p=0.033). Notably, approximately 85% of patients in the study were carriers of the CD16A (Fc?RIIIa) 158F allele, which has been previously associated with diminished clinical response to HERCEPTIN and other antibodies.
  • MacroGenics anticipates submitting a Biologics License Application (BLA) to the U.S. Food and Drug Administration in the second half of 2019.
A gene mutation that makes an excess of the HER-2 protein is present in about 15% of primary invasive breast cancers, according to UpToDate, an evidence-based medical resource used by clinicians. This particular trial showed longer progression-free survival in patients treated with a combination of margetuximab and chemotherapy compared to those on trastuzumab (brand name Herceptin) and chemotherapy, a standard-of-care treatment. The company also said approximately 85% of patients in the study were carriers of the CD16A 158F allele, a gene variation has been associated with a reduced clinical response to Herceptin and other antibodies. MacroGenics said it plans to submit a biologics license application to the U.S. Food and Drug Administration in the second half of 2019.

** charts before announcement **