Benchmark

Benchmark is lowering its rating on Meredith (NYSE: MDP) from Buy to Hold as soft National Media trends may persist in the near-term, hindering share appreciation. Meredith reported F3Q11 net revenue of $341 million, down 4% y/y, falling short of consensus of $352 million. Results were driven by an...

Moody's (NYSE: MCO) reported strong 1Q11 results and raised 2011 guidance. 1Q11 total revenue of $577 million, up 21% y/y, beat consensus of $521 million and Benchmark's estimate of $531 million, as all revenue segments increased y/y. EPS of $0.67 beat consensus of $0.54 and Benchmark's estimate of...

iRobot (NASDAQ: IRBT) reported Q1FY11 sales of $106 million and EPS of $0.27 vs. a consensus estimate of $104 million and $0.23. Revenue grew by 12% y/y, with EPS up 15% on a 700 bps gross margin improvement. Management reaffirmed its FY11 outlook, including sales of $450-465 million and EPS...

InfoSpace (NASDAQ: INSP) reported a beat and raise quarter. Its search distribution segment grew 14% sequentially and drove the strong performance. Benchmark raises its 2011E EBITDA from $18 million to $24 million. Its price target rises from $10 to $11 per share and it maintains a Buy rating on...

Benchmark is initiating coverage of Exact Sciences Corporation (NASDAQ: EXAS) with a Buy rating and $9 price target. Exact is developing the Cologuard stool-based DNA test with the intention of being the first non-invasive screening diagnostic that can prevent colorectal cancer by detecting...

Benchmark is initiating coverage of Exact Sciences Corporation (NASDAQ: EXAS) with a Buy rating and $9 price target. Exact is developing the Cologuard stool-based DNA test with the intention of being the first non-invasive screening diagnostic that can prevent colorectal cancer by detecting...

Equinix (NASDAQ: EQIX) reported strong 1Q11 results with revenue up 22% organically. EBITDA at $167 million, was $15 million ahead of the street. Benchmark increases its 2011 estimates, driving the price target to $115 from $105 and maintains a Buy rating. Equinix's 1Q11 beat was due to better-...

Belo Corp. (NYSE: BLC) reported 1Q11 total revenue of $151 million, down 2% y/y, matching consensus but slightly below Benchmark's $154 million estimate. Adjusted EBITDA fell by 14% y/y to $41 million, in line with Benchmark's estimate, driven by a lower than anticipated increase in costs. Adjusted...

Benchmark is out with its report today on Open Text (NASDAQ: OTEX), downgrading OTEX from Hold to Sell. In a note to clients, Benchmark writes, "We are lowering our rating on OTEX to Sell from Hold and establishing a $56 price target. Our downgrade is based on our belief that the stock is likely...

Benchmark is out with its report today on Crown Castle International (NYSE: CCI), maintaining Buy. In a note to clients, Benchmark writes, "Crown Castle reported sustained growth in 1Q11 and left its 2011 guidance unchanged. CCI has begun to buyback its stock. Tower trends remain solid with...

Benchmark is out with its report today on eBay (NASDAQ: EBAY), raising its PT from $30 to $36. In a note to clients, Benchmark writes, "eBay posted solid 1Q11 earnings with total revenue of $2.5 billion, in-line with our estimate and above street consensus, reflecting 16% y/y growth. The 2Q11 and...

ValueClick, Inc. (NASDAQ: VCLK) announced the acquisition of mobile advertising network Greystripe, “an impressive 1Q11 beat, and a 3% stock repurchase,” Benchmark reports. “This morning's moderate stock reaction appears appropriate as our analysis indicates that the proforma EBITDA multiple drops...

Core Laboratories (NYSE: CLB) reported earnings of $0.77 per share, matching our $0.77 EPS estimate and above the consensus of $0.75. In the press release the company guided earnings for 2011 to a $3.55-$3.60 per share range, compared to Dahlman Rose's $3.76 per share estimate and a consensus of $3...

Benchmark raise its rating on Lamar Advertising (NASDAQ: LAMR) from Hold to Buy given the year to date 20% correction in Lamar's stock and the likelihood that Lamar can deliver reliable growth as the advertising recovery is sustained. Lamar may still reach its 1Q11 guidance of $256 million in...

Journal Communications (NYSE: JRN) reported 1Q11 results which fell just shy of expectations. Total revenue of $84 million was $1 million below consensus due to ongoing weakness in Community Newspapers and Shoppers, while Broadcast results were mostly in line. EBITDA fell 25% to $12 million on an...