GoDaddy Up by 15%; Raises 2015 Revenue Forecast

GoDaddy a Web domain marketplace has gain 15%. The launch their public offering last April and in their Initial public offering (IPO) they were able to raise $460 million. Their company is valued at $5.48 billion.

Godaddy (NASDAQ:GDDY) had its price objective boosted by investment analysts at JMP Securities to $38.00 in a research note that was released last Friday on StockTargetPrices.com.

GDDY's 50-day moving average price is $26.36 and its 200-day moving average price is $26.78. The 12-month mean target is $33.45, which means upside potential of 7.97% over the current price. Monness Crespi & Hardt initiated the shares of GDDY in a report on August 12 with "Buy" rating. Godaddy presently has an average rating of "Buy" and an average price target of $34.06. Deutsche Bank upped their price target on Godaddy from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, August 7th. Godaddy (NASDAQ:GDDY) last released its quarterly earnings data on Wednesday, November 4th. The street expected the company to report a loss of $.09 per share on revenue of $408 million, while the company itself expected third quarter revenue to be between $405-410 million.

Online Dating sites Match and Tinder files for IPO

Dating sites Match and Tinder wants to go public, soon you will be able to purchase stocks for hooking up. Match Group, the online dating division of IAC/InterActiveCorp, brands include Tinder, OkCupid and Match, has applied with the SEC for an IPO last Friday. It is estimated that they could raise $500 million. No price has yet been set.

The Match will trade under the ticker symbol "MTCH". The company is owned by IAC, the media conglomerate helmed by Barry Diller, which also controls other digital online companies like About.com and Vimeo.

IAC will retain virtually all voting control of Match by offering a non-voting type of stock in the offering.

The paperwork also reveals that Match agreed in July 2015 to acquire PlentyOfFish, another online dating site, for $575 million.

Match and Tinder which are dating sites, have been growing steadily in the past few years. They were able to generate more than $888 million that gave them about $148 million in profit in 2014. In the first six months of 2015, Match generated revenue of $483 million and profit of $49.5 million.

Wall Street Down Slightly Amid Factory data Growth Worries

U.S. stocks down a bit, it was pulled down by losses in materials and energy shares because of weak U.S. and China factory data. S&P 500 was trading higher slightly when Chinese President Xi Jinping said that China was capable of maintaining a relatively high growth rate for a long time.

The S&P 500 is down 2.8 percent since Thursday, after the Federal Reserve hold interest rates near zero.

According to reports the U.S. manufacturing growth are at a 2-year low in September, while Chinese factory activity shrank to a 6-1/2 year low in the month.

News report about Boeing Co (BA.N) bagging orders and commitments from China for aircraft valued at about $38 billion at list prices, didn't save their shares it fell 1.7% to $131.67.

The S&P materials index .SPLRCM was down by 2.1%, led the decline for the S&P 500 for a 2nd day, followed by the energy index .SPNY, which was down 1.4%.

U.S. crude oil futures close at negative 4.1%, while shares of Chevron (CVX.N) were at negative 1.5% at $76.12.

The Dow Jones industrial average .DJI fell 50.58 points, or 0.31%, to 16,279.89, the S&P 500 .SPX lost 3.98 points, or 0.2%, to 1,938.76 and the Nasdaq Composite .IXIC dropped 3.98 points, or 0.08%, to 4,752.74.

European markets Trading Floor update

European markets were trading cautiously this morning. The FTSE and DAX opened up 0.2% while the CAC and Euro Stoxx were up by 0.1%.

The FTSE was topped by Kingfisher and Randgold Resources, while Burberry and Vedanta Resources recorded losses. Citigroup reported positive net income figures for the three months to the end of June.

Looking at the foreign exchange market, the euro and Australian dollar appreciated against the US dollar ahead of Bernanke's Testimony taking place on Wednesday. The rates were 0.9177 for AUD/USD and 1.3069 for EUR/USD. GBP/USD, on the other hand, was trading slightly lower at 1.5090 this morning.

HSBC Shares Rise as Profit Beats Expectations

HSBC underlying profit before tax increase by 34% over the same period last year they reported it at $7.6 billion. HSBC cut costs and reduced charges for bad debts.

The shares were 1.8 percent higher after the earnings release.
"We've had a good start to the year, with growth in reported and underlying profit before tax. These results demonstrate our progress in implementing the strategy we set out in May 2011," CEO Stuart Gulliver said.

"Loan impairment charges were lower in every region, notably in North America. Our continued focus on cost management contributed to an improvement in our underlying cost efficiency ratio," he added.

Paul Kavanagh, partner and senior market strategist at Killick & Co. told CNBC it was all about controlling costs as the bank undertakes a three-year restructuring plan and

HSBC reported profit before tax of $8.43 billion for the first quarter, better than the $8.1 billion expected by analysts. But according to Kavanagh, the underlying profit was more relevant for investors because it excluded one-off items.

HSBC also said its core tier-one capital ratio had strengthened to 12.7 percent from 12.3 percent.

source CNBC news