Trefis Top 5 – May 5 Insights (OPEN, BNY, XOM, MMI, TWC)

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Today we present our take on OpenTable's ( OPEN ) results that showed continued growth in N. America, which was impressive - but not impressive enough for the market as shares sold off 15%. Exxon Mobil's ( XOM ) results and outlook are supported by persistently strong commodity prices, which bodes well for oil & gas majors as long as the politicians don't get in the way. Motorola Mobility's ( MMI ) Xoom figures blew many analysts' projections out of the water, though it still has as a ways to before it's considered an iPad threat. BNY Mellon ( BK ) announced plans to buy Talon Asset Management to expand its private client business, and we briefly look at Time Warner Cable's ( TWC ) results that show continued growth in broadband subscribers.

OpenTable Continues to Grow in North America

OpenTable ( OPEN ) recently revealed its performance figures for the first quarter of 2011, and the company seems to have done a fair job overall. But the figures were clearly not as high as was expected by the company's investors, as the stock price dropped almost 15% in the wake of the announcement. The company reported net income of about $4.2 million for the quarter. While this figure is about 66% higher than the value reported a year ago - it is about 18% lower than the $5.1 million reported in the last quarter of 2010. As the leading provider of free and real-time online restaurant reservations, OpenTable is comfortably ahead of its competitors like Urbanspoon, owned by IAC/InterActiveCorp (IACI), and UK-based companies liveRES Ltd and Livebookings Ltd.


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Acquisition Indicates BNY Mellon's Focus on Expansion

BNY Mellon ( BK ), the largest custodian of assets in the world, recently agreed to buy Talon Asset Management's wealth management operations. The deal adds $800 million in assets to BNY Mellon's private client assets and provides better access to clients in the Chicago area. BNY Mellon competes with top asset managers like State Street (STT), BlackRock (BLK), Deutsche Bank (DB) and JPMorgan Chase (JPM) among others.

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High Prices Fuel Exxon's Positive Outlook

Exxon Mobil ( XOM ) reported an extremely profitable quarter with earnings of $10.65 billion, an increase of 69% over the $4.35 billion from Q1 2010. As the world's largest independent oil and gas exploration and production company, Exxon Mobil competes with other major oil companies like BP (BP), Chesapeake (CHK), Anadarko (APC) and Chevron (CVX). We currently maintain a $92.44 price estimate for Exxon Mobil, about 6% above market price.

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Xoom Sales Surprise, Still No iPad But Adds Zip to Stock

In the recently announced earnings, Motorola Mobility ( MMI ) announced that it sold more than 250,000 Xoom tablets in the first quarter of 2011. In our previous note titled Discouraging Motorola Xoom Sales Could be a Drag on Stock, we discussed how several analysts had forecast lower estimates for the Xoom and looked at potential downside scenarios. While Motorola Mobility managed to beat those estimates, its sales still pales in comparison to Apple's (AAPL) iPad sales. Apple sold around 1 million iPads in the first weekend of its launch last year. Motorola also faces stiff competition from Research in Motion's (RIMM) PlayBook, and new products from companies like Samsung, Dell (DELL) and LG.

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TWC Results Show Broadband Growth & a Drop in Video Subscribers

Time Warner Cable ( TWC ) recently reported its Q1 2011 earnings and based on positive trends in broadband, we have updated our estimates. In looking at the last couple of earnings, we see the a similar story emerging: broadband subscriber gains accompanied by video subscriber losses . The company competes with satellite pay-TV providers like Dish Network (DISH) and DirecTV (DTV), cable companies like Comcast (CMCSA), and telecom operators like AT&T (T) and Verizon (VZ).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas , Stocks , US Markets

Referenced Stocks: BK , MMI , OPEN , TWC , XOM

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