MOVE - Sector: Services --- Industry: Real Estate Operations

[setravis]

Noticed this stock on friday
Has continued it's move up today.

[setravis]

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.

[setravis]

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.

[setravis]

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.

[setravis]

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.

[setravis]

End of day chart

[la-onda]

TA Link:
http://www.stockta.com/cgi-bin/analysis.pl?symb=HOMS&num1=9&cobrand=&mode=stock
updated chart:

[setravis]

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!"
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.

[setravis]

Ah....some pre-market action!
+12.36%......Volume @......28,900

[setravis]

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.

[setravis]

 [audio] Homestore, Inc. Earnings Conference Call (live tomorrow at 5:00 pm ET)

Conference call Link:    http://biz.yahoo.com/cc/1/61911.html

[setravis]

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

[setravis]

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.......
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

[tugsinav]

HOMS moves SOLD moves....they are in the same sector.

-Tug

[setravis]

The move continues...   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 .......
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