|By PR Newswire||
|September 6, 2013 09:30 AM EDT||
CHICAGO, Sept. 6, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the LinkedIn Corp (NYSE:LNKD-Free Report), JPMorgan (NYSE:JPM-Free Report), Morgan Stanley (NYSE:MS-Free Report), Goldman Sachs (NYSE:GS-Free Report) and BofA (NYSE:BAC-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday's Analyst Blog:
LinkedIn to Raise Capital
Professional-networking behemoth LinkedIn Corp (NYSE:LNKD-Free Report) is set to raise $1.2 billion by selling 5.4 million of its common shares at a price of $233.0 per share. The secondary offering is expected to close on Sep 10.
JPMorgan (NYSE:JPM-Free Report) and Morgan Stanley (NYSE:MS-Free Report) will be the lead bookrunning managers while Goldman Sachs (NYSE:GS-Free Report) and BofA (NYSE:BAC-Free Report) Merrill Lynch will be the joint bookrunning managers. Allen and Co. will act as the co-manager of the proposed capital-raising by LinkedIn. These financial institutions have the option to purchase another $150 million of common stock from LinkedIn.
LinkedIn stated that the proceeds would enable the company to invest in product development and international expansion.
The current capital raising initiative from LinkedIn comes at an opportune time as the company has been performing well over the past few quarters. LinkedIn had $873 million in the form of cash and cash equivalents and short-term investments as of Jun 30. Moreover, the company generated a healthy operating cash flow of $124.2 million in the last quarter, which was up significantly from $46.9 million in the year-ago period.
Although the stake sale would dilute the company's earnings, it would definitely help it pursue growth opportunities. In its last-reported quarter, the company posted better-than-expected results with the top and bottom lines beating the Zacks Consensus Estimate. All its business segments did well. Moreover, the company has provided a positive outlook for the fiscal year.
LinkedIn's shares have had an outstanding run since its listing in May 2011. To date, LinkedIn's shares have risen 156.67% while year-to-date the shares have risen 112.10%. So, apart from the company's strong business fundamentals, the sheer upside potential in the stock price should attract investors.
Currently, LinkedIn carries a Zacks Rank #2 (Buy).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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