Yelp fuels Internet stock rally; LinkedIn on tap


Yelp's Q1 report, which was accompanied by a full-year guidance hike and followed by a slew of upgrades, is helping fuel a major rally in high-beta Internet stocks that were pummeled over much of March and April.

LinkedIn (LNKD +5.5%), which reports after the close and entered trading down 40% from a high of $257.56, is among the notable gainers. As are Twitter (TWTR +3.5%), crushed yesterday in response to its Q1 numbers and guidance, and Pandora (P +6.5%), hit hard last Friday due to the light Q2 guidance provided with a Q1 beat.

Facebook (FB +3.5%), less damaged by the selloff than some peers, is posting solid gains as the Street gives a thumbs-up to yesterday's mobile ad network launch. "Facebook is essentially bringing the high advertising ROI and targeting precision it has perfected on its own app to the rest of the mobile web," proclaims Goldman, albeit while cautioning near-term sales will be limited.

Netlifx (NFLX +5.5%), off 30% from its high going into trading in spite of a positive response to last week's Q1 beat and price hike announcement, is bouncing strongly.

Other gainers: ZU +5.9%. TRLA +5.6% (rallied yesterday following earnings). PCLN +2.8%. EXPE +3.7%. MEET +4.3%. LIVE +9.9%. ANGI +3%.

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Comments (2)
  • dgulick
    , contributor
    Comments (2225) | Send Message
     
    "Reports of my death were greatly exaggerated."
    1 May 2014, 12:49 PM Reply Like
  • 6269751
    , contributor
    Comments (1433) | Send Message
     
    Already a tad out of date. TWTR was knocking on Forty's door before noon, but Forty told it to go away and not come back.
    1 May 2014, 03:38 PM Reply Like
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