Noticed this stock on friday
Has continued it's move up today.
HomeStore Inc
30700 Russell Ranch Road
Westlake Village, CA 91362
Phone: 805-557-2300
Fax: 805-557-2680
Web Site: http://www.homestore.com
DETAILS
Index Membership: N/A
Sector: Technology
Industry: Internet Information Providers
Employees (last reported count): 1,456
BUSINESS SUMMARY
Homestore, Inc. supplies online media and technology solutions for real estate industry professionals, advertisers, and providers of home and real estate-related products and services in North America. It also offers software and related services to real estate industry professionals and offers printed advertising and home plan products to premove and postmove consumers. The company operates in three segments: Media Services, Software, and Print. The Media Services segment provides marketing and Website solutions. This segment offers various services, such as classified advertising services that include enhanced listings, virtual tours, and online brochures; display advertising services that provide display advertising opportunities to individual real estate professionals; and directory listings that include directories of REALTORS, home builders, lenders, and self-service storage facilities. It also offers design and set-up of the Websites, and hosting and maintenance services. The Software segment consists of Top Producer, which provides real estate sales productivity applications. The Print segment comprises Welcome Wagon, which provides direct mail services to movers; and Homestore Plans and Publications that offers consumers and building professionals to select new home designs and project plans from a range of home plans and project plans available. The company was incorporated as InfoTouch Corporation in 1993 and changed its name to Homestore.com, Inc. in 1999. Further, Homestore.com changed its name to Homestore, Inc. in 2002. The company is headquartered in Westlake Village, California.
A good reaction to earnings......
That explains Friday's move
*********************************************************
Homestore Soars on Earnings
By TSC Staff
8/5/2005 10:19 AM EDT
Shares of Homestore (HOMS:Nasdaq - commentary - research) surged Friday after the company reported a strong second quarter.
The online real estate service earned $3.3 million, or 2 cents a share, in the quarter, compared with a loss of $4.3 million, or 3 cents a share, last year. The latest quarter included a litigation expense of $4.2 million partially offset by a $1.4 million reduction in a previous restructuring charge.
Revenue rose 16% from a year ago to $63.3 million.
Analysts had been expecting a loss of 2 cents a share in the most recent quarter.
"Our past investments in our Realtor.com and Top Producer businesses continue to deliver increasingly positive returns, reinforcing our belief that the investments we are currently making in other areas of the company will create long-term value," the company said in a release.
Homestore was up $1, or 39%, to $3.56 Friday morning.
Press Release Source: Homestore, Inc.
Homestore Enters into Agreement with Former Officer to Limit Exposure Related to Advancement of Legal Defense Costs
Monday September 26, 4:30 pm ET
Agreement Limits Homestore's Maximum Liability
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Sept. 26, 2005--Homestore, Inc. (NASDAQ:HOMS - News) today announced that it has reached a settlement with a former officer to limit the Company's obligation to advance legal defense costs incurred in litigation related to Homestore's previous restatement of financial results. The settlement agreement calls for the Company to reimburse attorney's fees and other defense costs to Stuart Wolff, the Company's former chairman and chief executive officer, up to a maximum of $11.0 million. In exchange for this limit on Homestore's liability to advance Wolff's defense costs, Homestore has agreed not to seek repayment of these funds.
As the Company previously disclosed, Wolff and two other former officers of the Company have asserted claims for the advancement of fees and expenses they have incurred, and may continue to incur, in connection with investigations and litigations related to the Company's previous restatements. In an action brought against the Company by one former officer, the Delaware court entered judgment against the Company, requiring it to advance such fees and expenses to that officer. Under such circumstances, Delaware law and the Company's bylaws enable the Company to seek repayment of advanced funds if and when it is ultimately found that the former officer was not entitled to indemnification. There is no assurance that adequate funds would be available for repayment in the event the Company was entitled to seek recovery.
To date, Wolff has incurred in excess of $7.6 million in fees and expenses, and a federal criminal indictment, a Securities and Exchange Commission lawsuit, a shareholder class action, and another action remain pending against him. In the absence of a settlement, the Company faced the possibility of having to advance substantial amounts to Wolff with respect to these matters, while maintaining only an uncertain potential claim for repayment.
Under the terms of the settlement agreement, the Company will pay Wolff the $7.6 million he has already incurred. In December 2005, the Company will make an additional payment for additional amounts incurred up to that date. In January 2006, the Company will deposit the remaining balance, if any, of the $11.0 million in a trust account, out of which additional reimbursement payments will be made to Wolff. In the event Wolff ultimately incurs less than $11.0 million, the amount remaining in the trust account will be returned to Homestore. Pursuant to the settlement agreement, Homestore and Wolff are exchanging releases of all claims they may have against each other, including Homestore's claim for repayment of any of the amounts paid to Wolff under the agreement. Wolff may revoke this agreement within seven days of September 20, 2005, in which case this agreement would become null and void.
As of June 30, 2005 Homestore had accrued approximately $6.3 million for legal costs related specifically to Wolff. As a result of the settlement, the Company's third quarter 2005 financial results will reflect an increase in legal expenses of at least $4.7 million, before taking into account additional amounts for other former officers' legal costs.
Homestore, Inc. offers a wide variety of information and decision support tools for consumers looking for home and real estate-related information on the Internet. The Company operates the No. 1 network of real estate sites, including Realtor.com, the official Web site of the National Association of Realtors and HomeBuilder.com(TM), the official new homes site of the National Association of Home Builders. RENTNET®, SeniorHousingNet(TM), FactoryBuiltHousing.com, and Homestore.com® are part of the Homestore Network as well.
Homestore is also a leading supplier of media and technology solutions for real estate professionals, local and national advertisers, and providers of home and real estate-related products and services. Homestore's print division includes Homestore® Plans and Publications and Welcome Wagon®, and the Company's software division includes TOP PRODUCER® Systems.
On the Net: http://ir.homestore.com
REALTOR® and REALTOR.com® are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS®. REALTOR® is a federally registered collective membership mark, which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.
--------------------------------------------------------------------------------
Contact:
Homestore, Inc.
Erin Campbell, 805-557-2303
[email protected]--------------------------------------------------------------------------------
Source: Homestore, Inc.
Homestore to pay $11 mln of former CEO legal costs
Mon Sep 26, 2005 04:36 PM ET
LOS ANGELES, Sept 26 (Reuters) - Real estate services provider Homestore Inc. (HOMS.O: Quote, Profile, Research) on Monday said it has agreed to pay up to $11 million of a former executive's legal costs for litigation related to Homestore's previous restatement of financial results.
The settlement calls for Homestore to reimburse attorney's fees and other defense costs to Stuart Wolff, former chairman and chief executive officer. In exchange, Homestore has agreed not to seek repayment of the funds.
************************************************************************
MarketWatch
Market Pulse: Homestore to pay ex-chair, CEO defense costs up to $11M
Monday September 26, 5:05 pm ET
By Gabriel Madway
SAN FRANCISCO (Marketwatch) -- Homestore Inc. said after Monday's closing bell that it has agreed to reimburse attorney's fees and other defense costs to Stuart Wolff, it's former chairman and chief executive, up to a maximum of $11 million. The Westlake Village, Calif.-based real estate information provider said Wolff's litigation is related to Homestore's previous restatement of financial results. The company said Wolff has incurred $7.6 million in fees and expenses, and a federal criminal indictment, a Securities and Exchange Commission lawsuit, a shareholder class action, and another action remain pending against him.
End of day chart
TA Link:
http://www.stockta.com/cgi-bin/analysis.pl?symb=HOMS&num1=9&cobrand=&mode=stock
updated chart:
:-\
Former chairman in some big trouble, and now the company is going to pick up his attorneys fees "To the tune of $11 million big ones!" :o
I don't know how this is going to effect the movement of the stock. ???
All the news related to this is posted above.
This may come to be a short play.
I am long on the stock at this time. I Will have to keep a close watch on things in case I have to make a sudden sell.
Ah....some pre-market action!
+12.36%......Volume @......28,900
AP
HomeStore Shares Up on $100M Investment
Monday November 7, 12:27 pm ET
HomeStore Shares Up After Internet Real Estate Firm Gets $100M Investment From Elevation Partners
WESTLAKE VILLAGE, Calif. (AP) -- Shares of HomeStore Inc. surged Monday after the Internet real estate firm said it is getting an investment of $100 million in convertible preferred stock from Elevation Partners, a private equity firm.
HomeStore's shares rose 52 cents, or 14.6 percent, to $4.08 in midday trading on the Nasdaq. Volume totaled about 890,000, compared with the daily average of about 1.4 million. Over the past 52 weeks, the company's shares have traded between a low of $1.65 and a high of $4.64.
The company said the preferred stock is convertible into shares of HomeStore's common stock at $4.20 per share, or about 18 percent over the closing price per share of its common stock on Nov. 4. The preferred stock will pay an annual dividend 3.5 percent of the liquidation preference, payable in additional preferred stock, for the first five years after it is issued. After the five years, it will be paid in cash, the company said.
Following the third year after they are issued, HomeStore said it may convert all of the preferred stock to common stock if the average closing price per share of the common stock during any 30 consecutive trading days is at least $7.77.
HomeStore said it intends to use the proceeds of the investment for general corporate purposes, including strategic growth initiatives or acquisitions.
In conjunction with the agreement, Fred Anderson and Roger McNamee, managing directors and co-founders of Elevation Partners, will join HomeStore's board of directors, increasing the number of directors from eight to 10, HomeStore said.
The company said it expects to close the deal before the year ends.
[audio] Homestore, Inc. Earnings Conference Call (live tomorrow at 5:00 pm ET)
Conference call Link: http://biz.yahoo.com/cc/1/61911.html
Moved on news out today.
Support @ $3.97...3.78...3.30
Resistance @ $4.24...4.40...5.64
MACD is neutral
Stochastic is bearish
News Link: http://finance.yahoo.com/q/h?s=HOMS
Moving on up. Would like to see some more volume coming in.
Support @ $4.32...3.95...3.29
Resistance @ $4.65...4.84
Technicals
Record Price High....... ;D
Close Above the 13-day EMA
Percentage Gainer
Last Price Quote is:
8.64%above 13-day EMA
above 50-day EMA
RS Rating: 84
Fundamentals
Key Data:
Market Cap (M): $674.58
P/E Ratio: 187.01
PEG Ratio: 2.59333
Next Earnings: 03/08/2006
Last Analyst Rating: Mkt Outperform
HOMS moves SOLD moves....they are in the same sector.
-Tug
The move continues... 8) Breakout....
Dip to the 50-dma and bounce it did.
Sort of like a small Cup with Handle...What say you? Seems I'm Home Alone in this Thread
Technicals
Record Price High ....... ;D
Percentage Gainer
Last Price Quote is:
22.24%above 13-day EMA
inf%above 50-day EMA
RS Rating: 96
Fundamentals
Key Data:
Market Cap (M): $708.68
P/E Ratio: 196.47
PEG Ratio: 2.83667
Next Earnings: 03/08/2006
Last Analyst Rating: Mkt Outperform
Yeah, home alone with all the money ;) ;)
Nice pick, applaud once again setravis - another on that I've missed out on, but that looks to be a significant breakout from long term resistance. Will be monitoring for a position now, just wish I saw your post last week!!
Nice one
Looks like it want's to Breakout..... Ascending Triangle.
Strong volume on the upside, against weak volume on a pullback is extremely bullish. Stock did the correction off the high, it is now in solid traction seeking new highs.
Support @ $5.78...5.29...4.90
Resistance @ $6.74
Technicals
MACD is Bullish
Stochastic is Bearish
Record Price High
Last Price Quote is:
11.79%above 13-day EMA
inf%above 50-day EMA
RS Rating: 95
Fundamentals
Key Data:
Market Cap (M): $883.63
P/E Ratio: 244.97
PEG Ratio: 3.50667
Next Earnings: 03/08/2006
Last Analyst Rating: Mkt Outperform
Back above the 13-dma and also the 50-dma
MACD hit bottom has turned north bound, Stochastic is Bullish.
Support @ $5.89...5.63...4.92
Resistance @ $6.07...6.50...7.18
Technicals
Percentage Gainer
Last Price Quote is:
7.16%above 13-day EMA
inf%above 50-day EMA
RS Rating: 89
Fundamentals
Earnings Expected on Mar 2
Key Data:
Market Cap (M): $810.98
P/E Ratio: 224.82
PEG Ratio: 3.16
Next Earnings: 03/02/2006
Last Analyst Rating: Mkt Perform
Really nice chart......
Technicals
Close Above the 13-day EMA
Last Price Quote is:
12.01%above 13-day EMA
RS Rating: 91
Fundamentals
Earnings Expected on Mar 2
Key Data:
Market Cap (M): $810.98
P/E Ratio: 224.82
PEG Ratio: 3.93333
Next Earnings: 03/02/2006
Last Analyst Rating: Mkt Perform
My Pick.....In The Stock Picking Contest..... ;) :D ;D 8)
Press Release Source: Homestore, Inc.
Realtor.com and NRT Incorporated Extend Comprehensive Online Marketing Agreement for Two Additional Years
Wednesday March 22, 9:15 am ET
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--March 22, 2006--Realtor.com, the official Web site of the National Association of Realtors, has extended its marketing agreement with NRT Incorporated, which substantially enhances the presence of NRT's local operating companies on Realtor.com, for an additional two years. NRT, a subsidiary of Cendant Corporation (NYSE:CD - News), owns and operates premier residential real estate brokerage companies in more than 35 major metropolitan markets in the United States and the United Kingdom under the banner of the Coldwell Banker®, ERA® and Sotheby's International Realty® brands, as well as The Corcoran Group and The Sunshine Group.
The extension agreement ensures that all of NRT's listings will be enhanced through March 2008 and surrenders a portion of the previously committed Realtor.com display advertising inventory, including inventory in markets that have been sold out, for resale to other customers. The Company will recognize a minimum of $24.7 million in revenue over the new two-year term. The extension agreement also calls for NRT to partner with Realtor.com in the sale of Realtor.com's marketing solutions by sponsoring and hosting events for NRT's agents.
The extension of the marketing agreement comes at the end of a one-year agreement that was entered into in February 2005. At that time, NRT agreed to enhance all of their listings on Realtor.com and to utilize a significant amount of Realtor.com's display advertising inventory. NRT also secured two one-year renewal options at fixed prices. Had each of the options been exercised, the total value of the original agreement would have been at least $38 million over three years.
"We are pleased that NRT has decided to commit now to this marketing program through March 2008," said Allan Dalton, chief executive officer and president of Realtor.com. "By extending our marketing agreement with NRT, we will continue to allow millions of prospective home buyers to enjoy access to NRT's enhanced listings on Realtor.com, while enabling NRT to offer their clients the benefits associated with a comprehensive online marketing system."
Homestore's total revenue associated with the initial one-year agreement and the newly-signed extension agreement will be above 90 percent of the potential revenue associated with the initial agreement announced last year, while committing a smaller share of Realtor.com's display advertising inventory, eliminating any contract renewal risk in 2007, and engaging NRT to assist in the marketing of additional Realtor.com marketing solutions directly to their agents.
Yesterday, Homestore filed with the SEC a report on Form 8-K that briefly describes the material terms and conditions of the extension agreement. On the Net: http://ir.homestore.com.
ABOUT REALTOR.COM®
REALTOR.com®, "Where the world shops for real estate online(TM)," is the official Web site of the National Association of REALTORS®. Ranked as the No. 1 homes-for-sale site, REALTOR.com® currently offers potential home buyers access to more than two million property listings, as well as the most brokers and agents to contact. The site also provides REALTORS® and the home sellers they represent with the Internet's largest real estate marketplace, reaching more than six million consumers in January 2006(a).
Agents and companies have the power to customize the resources of the REALTOR.com® Web site to maximize their brand and productivity. The REALTOR.com® Web site (www.realtor.com) is operated by Homestore, Inc. d/b/a Move (Nasdaq:HOMS - News).
REALTOR® and REALTOR.com® are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS®. REALTOR® is a federally registered collective membership mark, which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.
(a) comScore Media Metrix, January 2006
Contact:
Homestore, Inc.
Erin Campbell, 805-557-3518
[email protected]--------------------------------------------------------------------------------
Source: Homestore, Inc.
I'm ready to rock again... ;D This stock has a way of reversing for .60 .90 points
Volume back up.....HOMS has pulled back to the bottom of its upward channel recently, so this appears to be a reasonable entry point.
Good luck to all,
Hawkeye..... :D My pick in the Contest, So let's get up HOMS...... :D :D :D :D
Volume: 2,108,298
Avg Vol (3m): 1,311,030
Going to breakout to a new high.... ;D Volume Spike.
A 350K share block
Volume: 1,696,426
Avg Vol (3m): 1,418,660
Technicals
Last Price Quote is:
13.45%above 13-day EMA
inf%above 50-day EMA
RS Rating: 91
Fundamentals
Key Data:
Market Cap (M): $915.68
P/E Ratio: 236.75
PEG Ratio: 1.7
Next Earnings: 05/11/2006
Last Analyst Rating: Mkt Perform
BRIEF: For the fiscal year ended 31 December 2005, Home Store Inc's revenues increased 16% to $252.6M. Net loss from continued operations applicable to Common fell 96% to $621K. Revenues reflect an increase in earnings from the real estate services and move-related services. Lower loss also reflects a decrease in amortization of intangible assets, lower litigation settlement charges, and higher net interest income. http://www.homestore.com
Technicals
Last Price Quote is:
8.03%above 13-day EMA
inf%above 50-day EMA
RS Rating: 88
Fundamentals
Key Data:
Market Cap (M): $985.89
P/E Ratio: 236.75
PEG Ratio: 1.65429
Next Earnings: 05/11/2006
Last Analyst Rating: Mkt Perform
HOMS new ticker symbol MOVE.......
As of today, Homestore.com has a new name, Move.com (Nasdaq: MOVE - News), and a new ticker symbol. The change is more than cosmetic. The company aims to be the ultimate search engine for the real estate industry, using performance-based marketing like Google (Nasdaq: GOOG - News).
The rechristened company posted its first-quarter results Tuesday. Revenues increased 22% to $69 million, but the company posted a loss of $2 million, or $0.01 per share. That compares to a $395,000 loss, with break-even EPS, in the year-ago period. Excluding expenses for stock options, net income would have been $1.3 million in the first quarter; EBITDA was $3.9 million.
Since 1996, the company has been a leading portal for real estate consumers and professionals. Its competitive advantage lies in its exclusive relationship with the National Association of Realtors, giving Move.com a database of more than 2.5 million real estate listings.
Move.com's goal of expanding its market reach has largely fueled its name change. Roughly 18 million households move each year. Whether they're searching, buying, selling, renting, financing, moving, settling in, or nesting, they're the targets of more than $20 billion in annual advertising. With a reported 77% of homeowners online, Move.com wants to bring much more of those dollars to its site.
Move.com realizes that online users want comprehensive listings when they search for homes and rentals. It will now provide full access to its listings, making money from Realtors through a cost-per-click model.
This transition could provide a nice boost to Move.com's business, if similar efforts at other companies are any indication. During the last year, Bankrate (Nasdaq: RATE - News) revamped its website and adopted more performance-based marketing; since the changes, the company has posted strong profitability, and its stock price has risen to $49.45 from $12.45.
Of course, the online real estate market is highly competitive, and execution will be critical for Move.com. But the good news, at least, is that the company is moving in the right direction.
Symbol changed to MOVE, outlook still looks good....
Expected to turn profit of 2c in '06 instead of losses in the last two years. Projected to earn 18c in '07 and 34c in '08. Over the next few years, earnings are expected to grow at a 42% growth rate and a PEG ratio of 0.7 based on '07 earnings. Technically, HOMS is basing in a narrow trading range between 5 and 7. So the jury is still out till it breaks out from this range. Despite what CS database says, MOVE is in the relocation segment of the real estate business. It provides an online service that enables consumers to find real estate listings and other content related to residential real estate, moving and relocation. Its primary consumer Websites include REALTOR.com, the official site of the National Association of Realtors (NAR); HomeBuilder.com, the official new home listing site of the National Association of Homebuilders; RENTNET, an apartment, corporate housing and self-storage resource; SeniorHousingNettm.com, a comprehensive resource for seniors; and Homestore.com, a home information resource site.
MOVE......on the move
Will leave the chart....no time for any comments.
Worth an update....... ;D ;)
Ascending Triangle (continuation)..... and it has broken out.
52wk Range: 3.73 - 7.08
Volume: 1,020,425
Avg Vol (3m): 695,031
Ascending Triangle (Continuation)
About the pattern for your benefit....... ;)
The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation.
Because of its shape, the pattern can also be referred to as a right-angle triangle. Two or more equal highs form a horizontal line at the top. Two or more rising troughs form an ascending trend line that converges on the horizontal line as it rises. If both lines were extended right, the ascending trend line could act as the hypotenuse of a right triangle. If a perpendicular line were drawn extending down from the left end of the horizontal line, a right triangle would form.
In contrast to the symmetrical triangle, an ascending triangle has a definitive bullish bias before the actual breakout. If you will recall, the symmetrical triangle is a neutral formation that relies on the impending breakout to dictate the direction of the next move. On the ascending triangle, the horizontal line represents overhead supply that prevents the security from moving past a certain level. It is as if a large sell order has been placed at this level and it is taking a number of weeks or months to execute, thus preventing the price from rising further. Even though the price cannot rise past this level, the reaction lows continue to rise. It is these higher lows that indicate increased buying pressure and give the ascending triangle its bullish bias.
AP
Move Swings to 4Q Profit
Thursday February 22, 6:55 pm ET
Move Posts 4th-Quarter Profit on Gains From Sales, Revenue Increase
WESTLAKE VILLAGE, Calif. (AP) -- Real estate Web site operator Move Inc. said Thursday it swung to a fourth-quarter profit on gains from the sale of investments and an increase in revenue.
Move earned $17.6 million, or 9 cents per share, compared with a loss of $4.6 million, or 3 cents per share, for the same quarter in 2005. Revenue rose 8 percent to $71.8 million from $66.6 million in the year-ago period.
Analysts polled by Thomson Financial had expected a profit of 1 cent per share on $74.9 million in revenue.
The 2006 quarter's results included income of $15.7 million related to the sale of investments.
For the full year 2006, Move earned $18.5 million, or 10 cents per share, compared with $234,000, or break even per share, in 2005. Revenue rose to $290.4 million from $252.6 million the year before.
Move Along, MOVE.......
52wk Range: 3.73 - 7.08
Volume: 2,950,959
Avg Vol (3m): 896,698
Press Release Source: Move, Inc.
Coming to a Computer Desktop near You: A Running Show of Hot Homes with the Realtor.com(R) Search Gadget for Windows Vista(R)
Thursday March 15, 2:42 pm ET
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--The search for that next home just got easier with the help of Realtor.com®, operated by Move, Inc. (NASDAQ:MOVE - News), the media leader in connecting consumers with the when, where and how to move. Created for the Windows Vista® operating system, the Realtor.com Search Gadget allows consumers to have specific homes of interest automatically selected from the Realtor.com database and displayed on the computer desktop.
Personalize the search with specific "must-haves" - location, price, numbers of bedrooms, etc. Want a minimum of three bedrooms in Chicago's Lincoln Park? No problem. Looking for a townhouse in the 20003 zip code? The Realtor.com Search Gadget delivers it all to the desktop within the Windows Vista sidebar, eliminating the need to open a web browser.
"Imagine that you are watching a slide show of homes on your personal computer. Each home has all the amenities you want. Then you see it - the right home in the right location. You click on the photo. You are linked to Realtor.com and now one step closer to owning your next home," said Errol Samuelson, president of Realtor.com. "This is the power of the new Realtor.com Search Gadget."
The new Realtor.com Search Gadget will continually search through the extensive Realtor.com database. As new properties become available fitting the desired parameters, the Realtor.com Search Gadget will display new listings to the desktop. Results can be viewed in a home slide show, which will automatically scroll through pictures of the homes that meet the criteria. For more specifics on a particular home, simply click on the picture and the details will be displayed in an expanded property detail bar. Click on the link to go directly to Realtor.com for all the details. More information can be found on http://labs.move.com.
"Vista continues to enable incredible innovation," said Sandi Thomas, general manager for Microsoft's Southern California operations. "Companies are taking advantage of the power of this new platform and are providing cutting edge services to their customers. The Realtor.com Search Gadget is a powerful tool for homebuyers which will exponentially improve their ability to track fast moving markets in which the inventory is constantly changing."
"The Realtor.com Search Gadget is yet another way for Realtor.com to showcase the nation's most comprehensive list of properties available," said Joe DeTuno, senior vice president of product development for Move, Inc. "Each new innovation in technology has allowed us to personalize and enhance the online real estate experience and we are excited to continue to focus on emerging opportunities such as 'gadget' technology."
ABOUT MOVE, INC.
Move, Inc. (NASDAQ:MOVE - News), the media leader for the when, where and how to move, provides homebuyers and renters with the real estate and community information, and professional connections they need before, during and after a move. The Company operates Move.com(TM) (http://www.move.com), the most comprehensive real estate search site for rentals and homes to buy and REALTOR.com® (http://www.realtor.com), the official Web site of the National Association of REALTORS®. Move also operates Welcome Wagon® (http://www.welcomewagon.com), a 78-year old neighborhood expert that provides new movers with valuable and comprehensive information about businesses and professionals in their new communities. Move.com is the official new homes Web site of the National Association of Home Builders. Move also operates Moving.com (http://www.moving.com), SeniorHousingNet(TM) (http://www.seniorhousingnet.com), TOP PRODUCER® Systems (http://www.topproducer.com), FactoryBuiltHousing.com (http://www.factorybuilthousing.com) and Home Plans (http://www.homeplans.com). On the Net: http://investor.move.com.
REALTOR(r) and REALTOR.com(r) are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS(r). REALTOR(r) is a federally registered collective membership mark, which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS(r) and subscribes to its strict Code of Ethics.
This press release may contain forward-looking statements, including information about management's view of Move's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move's future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.
For additional information, visit http://www.move.com.
Contact:
The Rogers Group
Leslie Galerne, 310-552-4104
[email protected]--------------------------------------------------------------------------------
Source: Move, Inc.
Bouncing here off this 61.8% Fibonacci Retracement.
52wk Range: 3.73 - 7.08
Volume: 2,252,752
Avg Vol (3m): 1,008,360
ZipRealty Zigs as Others Zag
By Rick Aristotle Munarriz August 8, 2007
Revenues are inching higher. 2007 is being tagged as "a year of expansion." A return to profitability is just around the corner. A lot of companies may fit the bill, but how many of those are realty firms? Compile the list alphabetically, and you may come up dry --until you hit ZipRealty (Nasdaq: ZIPR).
The cutting-edge residential real-estate brokerage is still growing. Revenue inched 16% higher to $31.3 million. The company dropped from last year's profit to a pro forma gain of $0.01 per share, but that's encouraging when compared to where Wall Street was holding its Open House. Analysts expected a $0.05-per-share adjusted deficit on a mere 1% top-line uptick.
Don't assume that ZipRealty is firing on all cylinders, though. The company's decision to break into new markets, even as many of its competitors are scaling back on their listings, is a gutsy move, but not necessarily a fiscally proven one. ZipRealty has tacked on 24% more agents over the past year, yet real estate transactions have grown at a 12% clip in the same period. Then again, most would agree that it's a relative victory. ZipRealty is a salmon flapping upstream in the cascading real estate market.
The company's aggressive stance will continue. ZipRealty plans to enter New York's Long Island and Westchester Country markets later this year. It already encompasses 2,070 real estate professionals, but plans to close out the year with as many as 2,400.
Growth rarely comes cheap. Even though ZipRealty expects to generate between $105 million and $110 million in revenue this year, it expects to post an adjusted loss of $0.25 per share to $0.40 per share. Despite the red ink, the company expects to resume its pro forma profitability in 2008.
Turning heads while keeping its head
ZipRealty has been an innovator in the industry. The company garnered plenty of press -- positive and negative -- when it allowed folks to post comments on its online listings last year. Its goal is to get property visitors to interact with aspiring sellers, though motives will always be questioned in praising or dissing a home.
The company's commission structure has been an even more disruptive tactic. Conventional brokerage firms charge roughly 6% of a home's selling price as a commission, which the listing broker then splits with the buyer's agent. ZipRealty charges as little as 4.5% to 5%, and it treats the eventual buyer to a 20% slice of that commission.
The break is a blessing to buyers, especially since lenders are being alarmingly diligent about the homes they bankroll these days.
During last night's call, ZipRealty noted that it had very little exposure to the initial subprime meltdown. However, like most agents, it's not immune to stricter lending standards in the future. Thankfully, the company has teamed up with Popular's (Nasdaq: BPOP) E-Loan to help prospective buyers line up financing for their new homes. It may not be enough to get every deal approved, but it's a friend in ZipRealty's corner, given the recent wave of subprime loan defaults.
The real estate market's weakness poses some intriguing values among its online enablers. Realtor.com parent Move (Nasdaq: MOVE) and lead generator HouseValues (Nasdaq: SOLD) join ZipRealty in trading in the single digits. IAC/InterActiveCorp's (Nasdaq: IACI) Lending Tree suffered an 89% decline in operating profits this past quarter, while the company's RealEstate.com is still fumbling for an identity.
Hitting 'em where they ain't
It's too early to tell whether the market will reward ZipRealty's ambitious expansion strategy. The shares have held up better than many of its cyberspace peers, and a whole lot better than many real-world residential real estate developers, like WCI Communities (NYSE: WCI) or Toll Brothers (NYSE: TOL).
There aren't too many true ZipRealty competitors to which we can compare the company's financials. Rival Realogy was taken private a few months ago. However, impatient investors can be sure that when the residential real estate market bounces back -- and it will, though we probably haven't seen the bottom yet -- ZipRealty will be in a better position than it was when the malaise kicked in, because it zigged as its rivals zagged.
ZipRealty can afford to be patient. The company's debt-free balance sheet is flush with $3.85 per share in cash -- more than half of what the company's trading for these days. In Realtor-speak, it would be a great home in a lousy neighborhood, priced to sell.
MOVE, is it ready to ?
Friday's closing chart.......
Indicators are looking nice.