Heavily-shorted Yelp (YELP +6%) made new highs again, aided by the SeatMe deal and perhaps also...


Heavily-shorted Yelp (YELP +6%) made new highs again, aided by the SeatMe deal and perhaps also news of Apple's purchase of business/POI location database Locationary. Apple's willingness to improve Maps via M&A was reinforced after the bell by news the company has bought popular local transit app HopStop. Needham thinks Yelp could follow up on the SeatMe deal and the launch of an order/payments platform by expanding into other complementary fields such as "event management, food delivery, payments, and SMB marketing services." Yelp says SeatMe won't affect its partnership with OpenTable (OPEN -4.5%), whose shares dove because of the deal. Yelp's Q2 results are due on July 31, and OpenTable's on Aug. 1.

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