Wednesday, September 5, 2012

Yelp Inc Jumps Again (YELP, ZNGA, CTYIC, ODP, FRAN)

Yelp Inc (NYSE:YELP) shares climbed 8.45% to $26.24 after soaring over 10% in the previous trading session. The lockup period for more than 52 million of the company's post-IPO stock expired, but investors apparently did not lead to a selloff. Yelp lets users post reviews of neighborhood businesses ranging from plumbers to pet shops on the Web. The 52 week trading range for the company is $14.10 - $31.96.

Can YELP Move Back To 52-week High Now? Fine Out Here

Zynga Inc (NASDAQ:ZNGA) stock gained 2.12% to $2.89. Jefferies initiates coverage on Zynga with a Hold and price target set at $3.00. Jefferies analyst said that Zynga is a leader in the domestic casual gaming market with over 300MM users playing its free-to-play games like FarmVille. As it diversifies away from Facebook, Zynga is prioritizing mobile platforms, where it faces significantly more competition. With users churning through games with ever increasing frequency, ZNGA must reacquire them on an ongoing basis. Hence, they see several risks.

Cell Therapeutics Inc (NASDAQ:CTIC) shares declined 8.12% to $1.81. The company said last week that the shareholders of the company elected Richard Love, Mary Mundinger, and Jack Singer to serve on the company's Board of Directors until its 2015 Annual Meeting.

Can CTIC Bounce Back After Today’s Slump? Find Out Here

Additionally, shareholders approved an amendment to the Company’s amended and restated articles of incorporation to increase the total number of authorized shares and authorized shares of common stock and approved an amendment to the Company’s 2007 Equity Incentive Plan, as amended and restated, to increase the number of shares available for issuance under the Plan.

Office Depot Inc (NYSE:ODP) shares jumped 14.91% to $1.85 after the company said it expects full-year 2012 outlook adjusted EBIT in the $125 million - $135 million range, an increase of about $5 million - $10 million from 2011; and free cash flow ranging between $80 million and $100 million from an operational perspective, up nearly $10 million - $30 million from 2011.

Zacks upgraded shares of Office Depot (NYSE: ODP) from an underperform rating to a neutral rating in a research note issued to investors last week. The firm currently has $1.60 target price on the stock.

Francesca's Holdings Corp (NASDAQ:FRAN) stock plunged 13% to $31.48 after the company reported second-quarter net income of $12.7 million or $0.28 per share, as compared to $5.5 million or $0.13 per share in the comparable quarter last year. Net sales grew 49.1% to $76.37 million from $51.22 million in the same prior year period. Analysts expected earnings of $0.24 per share on revenues of $71.19 million for the quarter.

No comments:

Post a Comment

Privacy Policy | Legal Disclaimer