Textura Corporation Acquires LATISTA
On Thursday, after the markets closed, Textura announced that it acquired LATISTA for $35 million in cash; the deal is expected to close on December 2. LATISTA provides in‐the‐field project management applications, such as punch lists and document management. The company has a similar business model to Textura, as it charges general contractors based on the total construction value of projects that are using the … Continue reading Textura Corporation Acquires LATISTA
Avago Technologies to Acquire LSI Corp at 41% Premium
On Monday morning, it was announced that Avago Technologies (AVGO), a leader in advanced optical, analog and mixed-signal chip design, will acquire LSI Corp (LSI), a strong market participant in hard disk drive semiconductor, system-level silicon for communications and server applications and flash storage solutions. AVGO will pay $6.6 billion for LSI, or $11.15 per LSI share. This is a 41% premium from Friday’s close … Continue reading Avago Technologies to Acquire LSI Corp at 41% Premium
Aon’s Q1 Growth Weaker Than Expected
Aon’s first-quarter results showed weaker-than-expected growth in HR Consulting. Overall, the company reported 2% growth in revenue and essentially no change in operating margins at 18.5%. The company reported adjusted operating income–net of restructuring charges and amortization of intangible assets–of $538 million, up about 2% from a year ago. Revenue growth slowed significantly within the consulting segment. The unit reported a 1% year-over-year increase due … Continue reading Aon’s Q1 Growth Weaker Than Expected
eBay Looking to Overcome Weak Holiday Outlook
eBay reported in-line 3Q results, with outperformance in Marketplaces revenue and incremental operating leverage offsetting a modest shortfall in PayPal revenue. However, guidance once again came in below expectations, driven by domestic macro weakness and caution regarding the holiday period. While we suspect management’s near-term forecast may prove conservative, we see no change to the positive, consistent fundamental long-term trends. Therefore, although we acknowledge there … Continue reading eBay Looking to Overcome Weak Holiday Outlook
ARM Holdings Beats Street Estimates Once Again
ARM Holdings reported 3Q13 results on Thursday that were above consensus estimates. On a positive note, ARMH’s license revenue continues to significantly exceed expectations, and ARM PD (Processor Division) royalty revenue continues to outperform ARM’s served available market (SAM) according to management’s guidance. Admittedly, shares are richly valued, and the market clearly wanted a perfect quarterly report with perfect guidance. However, there were a few … Continue reading ARM Holdings Beats Street Estimates Once Again
Echo Logistics Posts 21% Growth in 1Q
In the first quarter, Echo posted 21% revenue growth (9% organic). The increase includes a boost from the October 2013 Sharp Freight acquisition, and partly reflects a 13% rise in shipment volume (less-than-truckload, or LTL, and truckload volume expanded 11% and 18%, respectively). We note that shipment activity slowed relative to the 20% year-over-year gains posted in fourth quarter 2012. Rates to customers on LTL … Continue reading Echo Logistics Posts 21% Growth in 1Q