Post Market Update
Stocks that were active in the U.S. trading on Thursday include LinkedIn Corp (NYSE:LNKD), Trulia Inc (NYSE:TRLA), Yelp Inc (NYSE:YELP), Exxon Mobil Corporation (NYSE:XOM) and Dreamworks Animation skg Inc (NASDAQ:DWA).
- U.S.: Dow Jones: 15,631.72 (+0.85%), S&P 500: 1,706.52 (+1.23%), Nasdaq: 3,676.67 (+1.39%)
- World Markets: Shanghai: 2,029.07 (+1.77%), Nikkei 225: 14,005.77 (+2.47%), Hang Seng Index: 22,088.79 (+0.94%), TSEC: 8,056.22 (-0.64%), FTSE 100: 6,681.98 (+0.92%), EURO STOXX 50: 2,808.64 (+1.46%), BSE Sensex: 19,317.19 (-0.15%)
- Metals: Gold: $1,311.20 (-0.14%), Silver: $19.62 (-0.02%), Platinum: $1,443.80 (+1.01%)
- Currency: EUR/USD: 1.3214 (-0.93%), USD/JPY: 99.49 (+1.79%), GBP/USD: 1.5122 (-0.85%), USD/CAD: 1.0344 (+0.95%), USD/CNY: 6.1304 (+0.02%), AUD/USD: 0.8936 (-0.81%)
- 10 year U.S. Treasury: 2.49% (-0.03), 30 year U.S. Treasury: 3.58% (-0.03)
Market & Economy Update
The labor Department said today that jobless claims last week plunged to near six week lows. In another important development, the U.S. economy grew at better than expected 1.7% in the second quarter, pushing the S&P 500 above 1,700 for the first time. The Federal Reserve said that the economy is on the path of recovery but it still needs support. Therefore, the Fed maintained the pace of its monthly asset purchase program, as economists had expected. The Dow Jones Industrial Average jumped 132.18 points to 15,631.72, the S&P 500 Index surged 20.76 points to 1,706.49, while Nasdaq gained 48.42 points to 3,674.79.
Voss Capital is long Nintendo, Avid and Extreme Networks despite “Software bubble”
Voss Capital's Voss Value Fund was up 19.91% for the third quarter, while the firm's Voss Value Offshore Fund was up 19.88%. Both funds are now in the green for this year after erasing the damage that was done in March. Year to date, the Voss Value Fund is up 2.41%, while the Voss Value Read More
Stocks In Focus
LinkedIn Corp (NYSE:LNKD)
LinkedIn Corp (NYSE:LNKD) Q2 earnings handily beat Wall Street expectations. The company reported $0.38 a share in earnings on revenues of $363.7 million. Analysts polled by Thomson Reuters were expecting $354.3 million in revenues and $0.31 a share in earnings. LinkedIn forecasts revenues of $367 million to $373 million for the current quarter. Shares soared 4.52% to end the trading session at $213.
Trulia Inc. (NYSE:TRLA)
Trulia Inc. (NYSE:TRLA)’s second quarter losses narrowed amid solid revenue growth. The real estate search engine witnessed a rise in subscriber rolls. Adjusted earnings were better than consensus estimates. The company also issued optimistic revenues guidance for the current quarter. Shares surged 19.51% to $44.42 at the end of the trading session.
Yelp Inc (NYSE:YELP)
The local listings website posted stronger revenues growth, narrowing the second quarter losses to 1 cent a share. Analysts were expecting a loss of 4 cents a share on $53 million in revenue. Yelp Inc (NYSE:YELP) revenues and earnings both beat Wall Street expectations. The company also issued upbeat guidance for the current quarter and full year. Shares soared 23.21% to $51.50.
Exxon Mobil Corporation (NYSE:XOM)
Exxon Mobil Corporation (NYSE:XOM)’s Q2 earnings plummeted 57% fro to $1.55 per share or $6.86 billion. Exxon Mobil’s oil and gas output declined 1.9% during the quarter. Revenues fell 16.4% from $127.4 billion in Q2 2012 to $106.5 billion. Shares sank 1.09% to $92.73 at the end of the trading session.
Dreamworks Animation skg Inc (NASDAQ:DWA)
Dreamworks Animation skg Inc (NASDAQ:DWA)’s second quarter profits jumped 74% amid improved margins and revenues. Results handily beat consensus estimates. Shares soared 8.84% on the news to end the session at $26.95.