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News Breaks
February 6, 2014
07:10 EDTYELPYelp price target raised to $94 from $89 at JPMorgan
JPMorgan raised its price target for Yelp to $94 citing the company's strong Q4 results and reiterates an Overweight rating on the stock.
News For YELP From The Last 14 Days
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April 14, 2014
08:38 EDTYELPYelp non-restaurant business growing, says Pacific Crest
After conducting checks, Pacific Crest reports that Yelp's non-restaurant consumer usage and review base has grown. Non-restaurant businesses are the primary source of growth for Yelp, added the firm, which keeps a $115 price target and Outperform rating on the stock.
April 10, 2014
16:39 EDTYELPOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower as selling pressure took hold early in the session and did not relent. The averages closed near their worst levels, with the tech-heavy Nasdaq down more than 3%. With today's close, each of the major indexes is now lower for the year. ECONOMIC EVENTS: In the U.S., initial claims for unemployment benefits fell to 300K last week, hitting their lowest weekly level since May 2007. The the timing of Easter and Passover, as well as other seasonal factors, however, may have lead many to discount the figure. Export prices rose 0.8% in March, while import prices grew 0.6%, both of which were greater than expected advances. In China, exports fell 6.6% from a year earlier in March, while imports plunged 11.3%. Economists had predicted year-over-year gains for both. COMPANY NEWS: eBay (EBAY) and activist investor Carl Icahn settled their proxy contest, with Icahn withdrawing both his two board nominees and his proposal for eBay to spin off its PayPal unit. As part of its agreement with Icahn, eBay will expand the number of independent directors on its board to 10 and add David Dorman to serve in that capacity. The online retail marketplace was among the many tech names suffering losses, closing the session down $1.81, or 3.24%, at $54.08... Ally Financial (ALLY), formerly the auto finance and financial services arm of General Motors (GM), lost $1.02, or 4.08%, to close at $23.98 in its first day of trade following its return to the public markets after having price its return offering at $25.00 per share... General Motors made news again as well by confirming that two of its engineers have been placed on paid leave as part of the company's ongoing ignition switch recall probe. The company also added ignition lock cylinders to its safety recall of 2.2 million vehicles in the U.S. and said it expects to take a $1.3B charge in the first quarter due to recall-related repairs... MAJOR MOVERS: Among the notable gainers was drugstore operator Rite Aid (RAD), which rose 54c, or 8.44%, to $6.94 after reporting earnings and revenue and that beat expectations and giving a revenue outlook for its fiscal 2015 that came in above estimates. Also higher following a better than expected earnings report was casual restaurant owner Ruby Tuesday (RT), which advanced 72c, or 12.08%, to $6.68. Among the noteworthy losers was data security solutions provider Imperva (IMPV), down $21.73, or 43.7%, to $28.00 which plunged 41% after the company slashed its first quarter profit and sales outlook. Another name in computer security, FireEye (FEYE), was among a a number of so-called "momentum" stocks that fell during the session, sliding $6.64, or 11.77%, to $49.75. Other momentum stocks that fell included 3D Systems (DDD), down $5.90, or 10.79%, to $48.78, and Yelp (YELP), down $7.78, or 10.92%, to $63.47. INDEXES: The Dow was down 266.96, or 1.62%, to 16,170.22, the Nasdaq was down 129.79, or 3.1%, to 4,054.11, and the S&P 500 was down 39.10, or 2.09%, to 1,833.08.
06:26 EDTYELPYelp deal with Yahoo receives criticism from small business owners, WSJ reports
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April 9, 2014
10:06 EDTYELPOn The Fly: Analyst Upgrade Summary
AmSurg (AMSG) upgraded to Buy from Hold at Cantor... CBOE Holdings (CBOE) upgraded to Buy from Neutral at BofA/Merrill... Carlyle Group (CG) upgraded to Outperform from Perform at Oppenheimer... FireEye (FEYE) upgraded to Buy from Hold at Topeka... Fortune Brands (FBHS) upgraded to Outperform from Neutral at Credit Suisse... Gray Television (GTN) upgraded to Outperform from Market Perform at Wells Fargo... Hibbett Sports (HIBB) upgraded to Overweight from Neutral at Piper Jaffray... LinkedIn (LNKD) upgraded to Buy from Hold at Topeka... Mallinckrodt (MNK) upgraded to Buy from Neutral at UBS... NXP Semiconductors (NXPI) upgraded to Strong Buy from Outperform at Raymond James... Nexstar (NXST) upgraded to Outperform from Market Perform at Wells Fargo... Penn National (PENN) upgraded to Overweight from Equalweight at Barclays... Philip Morris (PM) upgraded to Neutral from Reduce at Nomura... SAIC (SAIC) upgraded to Market Perform from Underperform at Wells Fargo... Sinclair Broadcast (SBGI) upgraded to Outperform from Market Perform at Wells Fargo... Yelp (YELP) upgraded to Buy from Fair Value at CRT Capital... Danaher (DHR) upgraded to Strong Buy from Buy at ISI Group... Quanex (NX) upgraded at BB&T... Omnicell (OMCL) upgraded at Craig-Hallum... Volkswagen (VLKAY) upgraded to Outperform from Market Perform at Bernstein... Magna (MGA) upgraded to Neutral from Sell at Citigroup... Actavis (ACT) upgraded to Positive from Neutral at Susquehanna... E-Trade (ETFC) upgraded to Neutral from Underperform at BofA/Merrill... AmerisourceBergen (ABC) upgraded to Outperform from Market Perform at FBR Capital... CONSOL (CNX) upgraded to Outperform from Neutral at Macquarie.
09:45 EDTYELPYelp gaps higher, levels to watch
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09:11 EDTYELPOn The Fly: Pre-market Movers
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06:04 EDTYELPYelp upgraded to Buy from Fair Value at CRT Capital
CRT Capital upgraded Yelp due to valuation.
April 8, 2014
19:02 EDTYELPYelp announces availability of Yelp Japan
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11:37 EDTYELPYelp rises from recent depressed levels
The stock is up over 5% to $69.32, breaking out of the recent sharp short-term downtrend. At the current price, next resistance is at $70.77. Support is at $68.32.
10:03 EDTYELPOn The Fly: Analyst Upgrade Summary
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08:29 EDTYELPYelp upgraded at SunTrust
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06:34 EDTYELPYelp upgraded to Buy from Neutral at SunTrust
Price target $85.
April 7, 2014
10:00 EDTYELPOn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
07:10 EDTYELPYelp upgraded to Outperform from Perform at Oppenheimer
Oppenheimer upgraded its rating on Yelp (YELP) shares to Outperform with a $78 price target citing the recent pullback in shares. Opco sees an attractive risk/reward profile at current levels. Shares of Yelp closed Friday down $4.85 to $65.76.
April 3, 2014
16:37 EDTYELPOn The Fly: Closing Wrap
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13:09 EDTYELPYelp volatility up a day after FTC reveals over 2,000 complaints since 2008
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11:56 EDTYELPYelp drops again after revealing subpoenas are issued monthly
Shares of Yelp (YELP) are declining for a second straight day after the Federal Trade Commission disclosed yesterday that it had received over 2,000 complaints about the company over the last five years. Meanwhile, The Wall Street Journal, citing a Yelp spokeswoman, reported today that the company receives about six subpoenas per month. WHAT'S NEW: Yelp's stock is falling for a second day after the Federal Trade Commission yesterday stated that it had received 2,046 complaints about Yelp from 2008 through March 4, 2014. The agency's statement came in response to a Freedom of Information Act request by Wall Street Journal writer Angus Loten. Many of the subpoenas received by Yelp relate to lawsuits filed by business owners over reviews, The Journal reported. Other subpoenas that the company receives seek the names of anonymous users who have posted reviews on Yelp, the newspaper added. WHAT'S NOTABLE: Later this month, the Virginia Supreme Court is slated to hear a key lawsuit involving Yelp, The Journal noted. The carpet cleaning business that filed the lawsuit alleges that seven negative reviews about it which were placed on Yelp were fraudulent and may have been posted by its competitors, the newspaper stated. The business has sued the seven reviewers for defamation and is trying to force Yelp to disclose the names of the reviewers, The Journal reported. ANALYST REACTION: In a note to investors earlier today, SunTrust analyst Robert Peck wrote that the 6% decline in the stock yesterday was "likely an overreaction." The number of complaints received by the FTC against Yelp is not "noteworthy," given the large number of reviews on the website, Peck stated. Moreover, the number of subpoenas that the company receives is "uninspiring," the analyst argued. He kept a Neutral rating on the shares. PRICE ACTION: In late morning trading, Yelp fell $3, or 4%, to $72.60.
09:27 EDTYELPYelp sell-off yesterday likely an overreaction, says SunTrust
SunTrust believes the number of FTC complaints regarding Yelp is not noteworthy given the number of companies that have been reviewed on the company's platform. The firm views yesterday's sell-off in shares as a likely overreaction but keeps a Neutral rating on the name.
06:36 EDTYELPYelp receives subpoenas monthly over users, WSJ reports
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April 2, 2014
10:32 EDTYELPYelp sinks after FTC reveals over 2,000 complaints since 2008
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