Buzzing Stocks: Knight Capital CRASHES 56%, Abercrombie & Fitch PLUNGES 16%
Knight Capital Group (NYSE:KCG) shares crashed 56 percent in afternoon trading. The trading firm is trying to raise $440 million after a trading program-gone-wild wiped out its capital.” The company is actively pursuing its strategic and financing alternatives to strengthen its capital base,” Knight said in the statement.
Shares of Yelp (NYSE:YELP) are up 17.16 percent in afternoon trading. The social media company reported an impressive 67 percent rise in second quarter revenue to $32.7 million, compared to $19.6 million a year earlier. Jeremy Stoppelman, chief executive officer, said, “We’ve created a site that is rapidly becoming the de facto local search engine for connecting consumers to create local businesses. It’s been exciting for me to watch Yelp grow over the past eight years into the trusted resource we’ve become today.” Social giant Facebook (NASDAQ:FB) fell more than 1 percent.
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Green Mountain Coffee Roasters (NASDAQ:GMCR) surged 33 percent today. The company announced net income of $73.3 million (46 cents per share) for the fiscal third quarter, compared to $56.3 million (37 cents per share) a year earlier. Revenue also increased 21.2 percent to $869.2 million.
Abercrombie & Fitch (NYSE:ANF) shares plunged more than 16 percent today. The company cut its annual forecast as the European slowdown weighs on sales. Full-year earnings per share will be $2.50 to $2.75, compared to a previous projection of $3.50 to $3.75, the company said yesterday in a statement. Analysts had predicted an average of $3.36, according to Bloomberg.
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