Jefferies Q4 10 Technology Preview (DHX, SFLY, AOL)

Jefferies is out with its Technology update today, and previews Q4 10 earnings on the following companies: SFLY SFLY: We're tweaking our estimates/PT higher to reflect a) expectations for a solid 4Q given positive read-across from e-commerce names, particularly Vistaprint (VPRT, Buy) and b) prospects for faster Y/Y growth in FY11 as an improving economy spurs further growth in consumer discretionary spending. For 4Q, we now expect $155M in revenues (+18% Y/Y) and $0.98 in EPS, up from $151.2M and $0.91, previously. Consensus stands at $154M and $0.94, respectively. Our revised PT is $37, up from $35, previously. AOL AOL: We expect 4Q results to come in slightly ahead of consensus est. of 587M for revenues and $0.71 for EPS. However, lack of visibility into growth prospects of the company persists as the company continues to undergo significant restructuring through cost cutting, asset sales, new ventures and acquisitions. We remain on the sidelines with a Hold rating on AOL. Dice Holdings DHX: DHX pre-announced positively certain 4Q financial metrics on 1/12/11. The company announced that net revenues and adjusted EBITDA were going to come at around $37.5M and $16.5M respectively, virtually in-line with consensus estimates of $37.0M and $16.0M, respectively. We maintain a Buy rating and $15 PT, given the improving growth and margin profile of the company, and its diversification drive. Shares of SFLY closed Friday at $32.81. Shares of AOL closed Friday at $23.82. Shares of DHX closed Friday at $12.89.