Shares of Yelp (NYSE:YELP) fell more than 3 percent in late afternoon hours. Yelp reported a quarterly loss of $2.3 million (4 cents per share), compared to a loss of $2 million (3 cents per share) a year earlier. On the positive, Yelp’s revenue surged 68 percent to $61.2 million. “We saw another quarter of strong momentum thanks to the high-quality, authentic content contributed by Yelpers around the world,” said Jeremy Stoppelman, Yelp’s chief executive officer. “Our focus on connecting consumers with great local businesses continues to drive our success. In the third quarter, we improved the user experience by adding the ability to write and post reviews from mobile and launched new features such as the customer activity feed for business owners.”
LinkedIn (NYSE:LNKD) shares dipped about 5 percent in late afternoon trading. LinkedIn reported better-than-expected quarterly earnings and revenue, but its outlook was a bit disappointing. For the fourth quarter, LinkedIn expects revenue of $415 million to $420 million, below Wall Street’s estimate of almost $440 million. “Increased member growth and engagement helped drive strong financial results in the third quarter,” said Jeff Weiner, LinkedIn CEO. “We continue to deliver value to professionals through investment in core products and strategic initiatives such as mobile, students, and the professional publishing platform.” LinkedIn now has more than 259 million members, up 38 percent from last year.
Shares of International Business Machines (NYSE:IBM) jumped 2.7 percent on Tuesday and continued to edge higher in late afternoon hours. IBM’s board approved a regular quarterly cash dividend and authorized $15 billion in funds for the company’s stock repurchase program. The board agreed upon a quarterly cash dividend of 95 cents per common share, payable on December 10 to stockholders on record from November 8. That will mark another dividend that IBM has paid consecutively every year since 1916. Ginni Rometty, IBM chairman, president and chief executive officer said, “We are committed to a higher value strategy fueled by innovation and shifting to new growth opportunities. As a result we consistently deliver value to our shareholders through dividends and share repurchases, totaling more than $159 billion since 2000.”
Apple (NASDAQ:AAPL) shares fell 2.5 percent on Tuesday, one day after announcing earnings for its most recent quarter. Apple’s earnings have declined for four consecutive quarters when compared to year-ago quarters, but Piper Jaffray analyst Gene Munster believes Apple is stabilizing. “The overall trends in the business have stabilized, and we expect earnings to be essentially flat year-over-year in Dec-13 and up 8 percent in Mar-14,” he said. Piper Jaffray is expecting Apple to introduce an iPhone with a larger screen, an Apple TV, and the much-rumored iWatch during the first half of next year. Munster pointed out that his model does not include possible new products, and he reiterated the firm’s price target of $640.
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