Yelp Inc (NYSE:YELP) and Facebook Inc (NASDAQ:FB) trade down

Posted by Michael Korte May 7, 2013 0 Comment 1423 views


Greensboro, NC 05/07/2013 (GDPInsider) – Yelp Inc (NYSE:YELP): In Monday’s trading session, there was a drop of 1.38% in Yelp Inc (NYSE:YELP) shares. The opening price of the shares was $30.79 which touched an intraday of $31.60 before dropping to $30.11 per share. Over 2.41M shares were traded in Monday’s trading session which was close to double to the average volume of 1.29M that was measured over a period of 30 days.

Yelp had released it 2013, first-quarter earnings on May 1 after the close of the trading day. The social network had showed a loss of 8 cents per share on$46.1 million revenue in the first-quarter. Prior to this report being released, analyst had projected a loss of one cent per share on$44.6 million revenue. The company had lost 31 cents per share on revenue of $27.4 million in 2012. The general feel in the market and amongst analysts was that Yelp Inc (NYSE:YELP) would be unsuccessful in meeting analyst targets.

The company helps in connecting people with the local businesses. Its users make contributions about different kinds of local businesses including shops, boutiques, restaurants, mechanics, plumbers, doctors and dentists.

How Should Investors Trade YELP Now? Get key and important information right here.

Facebook Inc (NASDAQ:FB): In Monday’s trading session, there was a drop of 2.62% in Facebook Inc (NASDAQ:FB). The opening price of the shares was $28.33 which touched an intraday price of $28.46 before dropping to $27.48 per share. Over 43.94M shares were traded in Monday’s trading session which was above the average volume of 37.71M that was measured over a period of 30 days.

It has been reported that starting this summer, Facebook Inc (NASDAQ:FB) is launching a new advertising opportunity for its different partners. This particular move will invade the newsfeeds of its users. The company is also going to launch video advertising and the first ads are expected to hit the site in the month of July. The companies who are on FB’s “client council” will be the ones who will be given the first opportunity to use this new platform. This group includes companies such as Ford Motor Company; The Coca Cola company Nestle, amongst others.

Lately, Facebook Inc (NASDAQ:FB) has been quiet in the news though it will surely be in limelight when as its botched-up Initial Public Offering approaches later this month.

How Should Investors Trade FB Now? Get the latest trends and data here.

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About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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