Rally Time: Knight Capital Secures Credit Line, OpenTable Surges 16%
Procter & Gamble (NYSE:PG) shares jumped 2.55 percent this morning. The company reported that net income in the fiscal fourth quarter increased to $3.63 billion ($1.24 per share), compared to $2.51 billion (84 cents per share) a year earlier. Procter & Gamble Co. reported adjusted net income of 82 cents per share. By that measure, the company beat the mean estimate of 77 cents per share.
Shares of OpenTable (NASDAQ:OPEN) surged 16.54 percent this morning. The company announced revenue of $39.6 million for the second quarter, topping estimates of $39.4 million. OpenTable also raised its revenue outlook for the third quarter to $39.1 million to $40.2 million, the consensus had been $39.8 million. “We’re pleased with the progress we’re making across a variety of areas that support future growth in both our North America and International businesses,” Matt Roberts, chief executive officer, said in a statement.
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LinkedIn (NYSE:LNKD) shares gained more than 14 percent Friday morning. The professional networking company reported that revenue surged 88.5 percent to $228.2 million in the second quarter, compared to the same period last year. “LinkedIn had a strong second quarter with all of our key operating and financial metrics showing solid performance,” explained Jeff Weiner, CEO of LinkedIn. Facebook (NASDAQ:FB) shares also gained 2 percent.
Knight Capital Group (NYSE:KCG) has jumped 27.52 percent this morning, but posted gains in excess of 18 percent. The company is looking for funding after experiencing a $440 million loss due to a computer trading program and failure in oversight. The WSJ reports that Knight it telling brokers it has secured a line of credit.
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