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Feb 28, 2012

Moneysupermarket profits as Britons seek more online deals

By Brenton Cordeiro

(Reuters) – Price comparison website Moneysupermarket.com Group PLC said its full-year profit more than doubled as more consumers used its online services, boosting performance particularly in the company’s insurance and money segments.

Moneysupermarket, whose website had 140 million visitors last year, said 2012 revenue and earnings before interest taxes depreciation and amortization (EBITDA) were about 15 percent ahead of year-ago levels.

Feb 27, 2012

Israel’s BATM swings to loss, scraps div payout

Feb 27 (Reuters) – Israel’s BATM Advanced
Communications scrapped its dividend payout for 2011 as
it swung to a loss, hurt by a one-time charge related to
curtailing a part of its telecoms business.

BATM, a designer and producer of broadband data and telecoms
systems, said it would wind down its legacy telecoms business in
the United States in 2012 to focus on Internet protocol, and had
absorbed related costs of $5.3 million in 2011.

Feb 23, 2012

UTV Media ousts chairman for ties with top shareholder

Feb 23 (Reuters) – Northern Irish broadcaster UTV
Media said its board voted to remove John McGuckian as
chairman of the company, due to his close association with its
largest shareholder TVC Holdings, an Ireland-based
investment firm.

Shares of the company shot up about 13 percent to 135.25
pence by 1530 GMT on Thursday on the London Stock Exchange. The
stock has risen 30 percent so far this year.

Feb 8, 2012

Caesars IPOs but owners still down

Feb 7 (Reuters) – Debt-laden Caesars Entertainment
Corp, one of the largest casino operators in the United
States and owner of the famed Caesars Palace, raised $16.3
million in an IPO on Tuesday, a fraction of what it was hoping
to muster two years ago.

Caesars’ private equity owners, Apollo Global Management LLC
and TPG Capital LP — which are holding on to
70.1 percent of the company — made a bold bet when they took
the company private in 2008 in a huge $31 billion leveraged
buyout.

Feb 7, 2012

Western Union FY outlook disappoints, shares slide

Feb 7 (Reuters) – Western Union Co, the world’s
largest payment transfer company, posted a higher fourth-quarter
profit, but forecast full-year earnings below market
expectations on macro-economic challenges.

For the full year, the company expects earnings per share to
be between $1.70 and $1.75, excluding integration costs related
to the Travelex Global Business Payments acquisition, below
analysts’ expectation of $1.80 per share.

Feb 7, 2012

Caesars IPO pricing delayed due to “glitch” – underwriter

Feb 6 (Reuters) – The pricing of the initial public
offering of Caesars Entertainment Corp, one of the largest
casino operators in the United States and owner of the famed
Caesars Palace, has been delayed due to a “technical glitch,” an
underwriter said.

The delay resulted from last-minute comments the
underwriters received from regulators relating to the IPO
prospectus.

Jan 23, 2012

Euronet reports breach at European business

By Brenton Cordeiro

(Reuters) – Payment processor Euronet Worldwide Inc said a “small portion” of its European business was the target of a criminal security breach late last year, sending its shares down as much 6 percent.

The hacking of the system, which was revealed on Monday through a regulatory filing, affected a part of Euronet’s processing business that accounts for less than 5 percent of its revenue, profit and transactions, the company said.

Jan 19, 2012

American Express Q4 profit beats estimates

Jan 19 (Reuters) – American Express Co
reported a quarterly profit that topped expectations, as
cardholders spent more and expense growth slowed.

The New York-based company with 97.4 million outstanding
cards at the end of the quarter, said on average, American
Express cardholders spent more than they did last year. Average
spending per card rose 8 percent to $3,933.

Jan 18, 2012

BankUnited aborts sale, to stay independent

Jan 18 (Reuters) – BankUnited Inc’s private
equity owners abruptly pulled the lender off the market on
Wednesday after a brief sale process drew offers below
expectations, and will instead focus on expanding in Florida and
New York.

The bank — which has Wilbur Ross’s WL Ross & Co, Blackstone
Group LP and Carlyle Group among its owners –
wanted an offer in the high $30-per-share range, a source
familiar with the situation said. It has a market value of about
$2.5 billion.

Jan 13, 2012

Anti-virus maker AVG files for $125 million IPO

By Himank Sharma and Brenton Cordeiro

(Reuters) – Anti-virus software maker AVG Technologies NV filed to raise up to $125 million in an initial public offering, looking to cash in on the increased demand for technology IPOs.

AVG, which is known for its free suite of anti-virus products, monetizes its large user base through targeted advertisements and by driving traffic to online search companies such as Google Inc and Yahoo Inc.

    • About Brenton

      "I’m currently Editor-in-Charge for UK company news in Bangalore, overseeing the coverage of mid-cap and small-cap UK companies. Previously, I was the Deputy Editor-in-Charge of the Headline News team in Bangalore, which is responsible for sending news alerts for all the major publicly listed companies in North America. I also worked with the finance team in Bangalore covering IPOs, and mid-cap and small-cap U.S. financial companies."
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