What Next For Civeo Corp (CVEO), LiveDeal Inc (LIVE) And Viggle Inc (VGGL)?
New York, NY – GDP INSIDER – 12/31/2014.
Civeo Corp (NYSE:CVEO) is taking cost saving measures to maintain its financial flexibility. In the latest move, the company announced plans to reduce the workforce amid price fallout in the oil industry. It plans to cut its Canadian workforce by 30% and the U.S. workforce by 45%. It will also close certain locations as part of the austerity measures.
Civeo Corp (NYSE:CVEO) had earlier moved to suspend quarterly dividends to preserve cash. The board unanimously approved the withdrawal of dividends during these hard times for the company. Besides the cut on jobs and dividends, CVEO also reduced its 2015 budget. The company now plans to spend between $75 and $85 million next year. It originally anticipated spending between $260 and $280 million in 2015.
Oil companies have reduced their spending as well because of the unfavorable oil price conditions.
LiveDeal Inc (NASDAQ:LIVE)‘s CEO, Jon Isaac, hinted that the restaurant deals company would seek to expand into a full e-commerce in the coming year. The comments followed the release of 2014 financial results that showed a significant increase in revenue compared with last year. The company reported 209% improvement in revenue to $7.2 million. The revenue figure also pounded Wall Street estimate of $6.72 million.
LiveDeal Inc (NASDAQ:LIVE) also managed to narrow its losses in 2014 compared with last year. It posted a loss of $0.35 per share, better than the loss of $0.61 in 2013. The company’s growth is mostly supported by acquisitions.
Viggle Inc (NASDAQ:VGGL) remains the entertainment marketing of choice for the organizations seeking to enhance their television viewing. VGGL this month entered into an agreement with HGTV where they formed a partnership aimed at improving the experience of HGTV viewers.
According to Viggle Inc (NASDAQ:VGGL), the agreement will run for 15 months during which HGTV viewers will win various rewards and bonuses for checking in to shows on HGTV.
On the stock performance, 2014 has been amazingly great year for Viggle Inc (NASDAQ:VGGL). The stock has gained more than 460% YTD.
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