Tag Archives: Wall Street
SAN FRANCISCO — The shellacking given to shares of LinkedIn last week, after the company’s quarterly report, was yet another lesson in the perils that await retail investors who try to time the market for tech stocks.
Those who endeavor to make a quick buck during earnings season would be better served placing a bet on a roulette wheel.
That’s because — for those unfamiliar with the ways of Wall Street — the chances of correctly guessing whether a stock will go up or down based on a company’s report are about the same as predicting whether that little casino ball will land on a red or black number.
It’s gambling, not investing.
Yelp’s fast rise following Wednesday’s earnings report continues. Here’s a look at the tech stocks to watch.
Positive reviews for Yelp. Shares of the online review site jumped nearly 11% in pre-market trading after announcing favorable first-quarter earnings.
The company’s revenue surged 68% compared to a year ago, as did the number of average monthly unique visitors and site reviews. Yelp also revealed it’s launching in New Zealand, which makes the local review service available in 21 countries.
After reaching a six-month low of $16.77 last November, Yelp shares have rebounded, adding $9 in value.
LinkedIn to report earnings. Shares of the professional social network are up 1.4% early as they prepare to reveal first-quarter earnings after the markets close.
Wall Street has fallen in love with
SAN FRANCISCO — Amazon today beat Wall Street’s expectations, despite reporting a steep profit decline from a year ago.
While net income was down 37%, Amazon’s revenue was up 22% in the company’s first-quarter results.
Shares of Amazon immediately rose 1.9% to $279.85 in after-hours trading following the news, coming after a surge of 2.2% to $274.70 ahead of the report.
Internet retail’s juggernaut posted net income of $82 million, or 18 cents per share, on revenue of $16.07 billion. Amazon was expected to report net income of $49.5 million, or 8 cents per share, on revenue of $16.1 billion, according to the survey of estimates from Thomson Reuters.
Amazon’s stock is
Here’s a look at the tech stocks to watch for Thursday.
Zynga plunging. Shares of the social gaming company fell 9% in pre-market trading after lowering forecasts for the current quarter. Their first-quarter results topped Wall Street expectations, with a profit of $4 million off $264 million in revenue.
The company also continues to drop monthly active users, down 13% compared to last year.
Qualcomm slides. The tech company’s stock dropped 4.5% off a third-quarter profit forecast that falls short of what analysts are expecting, according to Bloomberg. However, the company posted record revenue of $6.12 billion during its second quarter.
Apple rising slightly. After an up-and-down week that saw its stock dipping below $400, Apple shares are up 1% early at $409.80.
Hoax and ensuing crash on Wall Street show the new dangers of our light-speed media world
A hacked Twitter account of a major news organization Tuesday dispelled any lingering notion that tweets are mere 140-character missives that harmlessly fly off into the ether.
The FBI and the Securities and Exchange Commission are investigating the security breach that momentarily sent stocks into free fall Tuesday, erasing some $200 billion from the market’s value.
At 1:07 p.m. ET, a tweet from the Associated Press exclaimed: “Breaking: Two Explosions in the White House and Barack Obama is injured.” Within seconds, Wall Street was in panic mode and the Dow Jones industrial average and other benchmark indexes plummeted.