The emission from blazars is known to be variable at all wavelengths. The flux variability is often accompanied by spectral changes. Spectral energy distribution (SED) changes must be associated with changes in the spectra of emitting electrons and/o
r the physical parameters of the jet. Meaningful modeling of blazar broadband spectra is required to understand the extreme conditions within the emission region. Not only is the broadband SED crucial, but also information about its variability is needed to understand how the highest states of emission occur and how they differ from the low states. This may help in discriminating between models. Here we present the results of our SED modeling of the blazar S5 0716+714 during various phases of its activity. The SEDs are classified into different bins depending on the optical brightness state of the source.
We present results of a periodicity search of 20 intra-day variable optical light curves of the blazar S5 0716+714, selected from a database of 102 light curves spanning over three years. We use a wavelet analysis technique along with a randomization
test and find strong candidates for nearly periodic variations in eight light curves, with probabilities ranging from 95% to >99%. This is the first good evidence for periodic, or more-precisely, quasi-periodic, components in the optical intra-day variable light curves of any blazar. Such periodic flux changes support the idea that some active galactic nuclei variability, even in blazars, is based on accretion disk fluctuations or oscillations. These intra-day variability time scales are used to estimate that the central black hole of the blazar S5 0716+714 has a mass > 2.5 times 10^6$ M$_{odot}$. As we did not find any correlations between the flux levels and intra-day variability time scales, it appears that more than one emission mechanism is at work in this blazar.
