Market News: LinkedIn, Yelp, AIG, Weight Watchers, ANR

Market News: LinkedIn, Yelp, AIG, Weight Watchers, ANR
market news

Post market update

market news Morning News

Stocks that were active in the U.S. trading on Friday include LinkedIn Corp (NYSE:LNKD), Yelp Inc (NYSE:YELP), American International Group Inc (NYSE:AIG), Weight Watchers International, Inc. (NYSE:WTW) and Alpha Natural Resources, Inc. (NYSE:ANR).

Market levels

  • U.S.: Dow Jones: 15,626.54 (-0.01 percent), S&P 500: 1,706.99 (+0.01 percent), Nasdaq: 3,684.22 (+0.23 percent)
  • World Markets: Shanghai: 2,029.42 (+0.02 percent), Nikkei 225: 14,466.16 (+3.29 percent), Hang Seng Index: 22,190.97 (+0.46 percent), TSEC: 8,099.88 (+0.54 percent), FTSE 100: 6,647.87 (-0.51 percent), EURO STOXX 50: 2,811.00 (+0.08 percent), BSE Sensex: 19,164.02 (-0.79 percent)
  • Metals: Gold: $1,310.50 (-0.05 percent), Silver: $19.91 (+1.47 percent), Platinum: $1,451.50 (+0.53 percent)
  • Currency: EUR/USD: 1.3269 (+0.42 percent), USD/JPY: 99.04 (-0.45 percent), GBP/USD: 1.5278 (1.03 percent), USD/CAD: 1.0382 (+0.37 percent), USD/CNY: 6.1294 (-0.02 percent), AUD/USD: 0.8901 (-0.39 percent)
  • 10 year U.S. Treasury: 2.49 percent (-0.03), 30 year U.S. Treasury: 3.58 percent (-0.03)

Market and economy update

After solid GDP growth in the second quarter and reduction in the number of jobless claims, Labor Department said the economy added only 162,000 new jobs in July. That’s much lower than the consensus estimate of 184,000 jobs. Tepid jobs growth data pulled stocks down as major indexes pared earlier gains. The Dow Jones Industrial Average fell 1.48 points to 15,626.54, the S&P 500 Index jumped 0.07 points to 1,706.94, and Nasdaq gained 8.82 points to 3,684.50.

This Tiger grand-cub was flat during Q2 but is ready for the return of volatility

Tiger Legatus Master Fund was up 0.1% net for the second quarter, compared to the MSCI World Index's 7.9% return and the S&P 500's 8.5% gain. For the first half of the year, Tiger Legatus is up 9%, while the MSCI World Index has gained 13.3%, and the S&P has returned 15.3%. Q2 2021 hedge Read More

Stocks in focus

LinkedIn Corp (NYSE:LNKD)

LinkedIn Corp (NYSE:LNKD)’s second quarter earnings surged 33 percent amid strong membership gains. The company earned 38 cents a share with $364 million in revenues. Analysts polled by Thompson Reuters were expecting EPS of 31 cents and revenues of $354 million. Shares surged despite the company’s current quarter and full year revenues guidance falling short of analysts expectations. Shares rose 10.73 percent to $235.84.

Yelp Inc (NYSE:YELP)

Yelp Inc (NYSE:YELP) posted strong second quarter earnings driven by record local advertisers. Though the company incurred a net loss of 1 cent per share, revenues jumped 69 percent to 55 million. Analysts were expecting the company to report a loss of 4 cents on sales of $53.3 million. Shares gained 10.89 percent to $57.11 at the end of the trading session.

American International Group Inc (NYSE:AIG)

Shares of the insurance giant surged after it resumed the dividend payment of 10 cents a share, which the company had stopped at the time of the financial crisis. American International Group Inc (NYSE:AIG) posted Q2 revenues of $8.35 billion with EPS of $1.12 per share. Though revenues missed the consensus estimate of $8.62 billion, earnings were well above the Wall Street estimate of 82 cents per share. AIG also announced $1 billion share repurchase program. Shares jumped 2.84 percent to end the trading session at $48.40.

Weight Watchers International, Inc. (NYSE:WTW)

Weight Watchers International, Inc. (NYSE:WTW) reported second quarter earnings of $1.15 per share with $465 million in revenues. Earnings of the weight management company plunged 16 percent due to a $20 million charge related to debt-refinancing. Results topped Wall Street expectations of $1.11 in EPS and $459 million in sales. However, the company announced an immediate departure of CEO David Kirchhoff, and lowered full year revenues outlook. Shares tanked 19.20 percent to $38.

Alpha Natural Resources, Inc. (NYSE:ANR)

Alpha Natural Resources, Inc. (NYSE:ANR)’s Q2 losses narrowed due to restructuring charges and hefty write-downs. Losses narrowed from $2.23 billion to $185.7 million. However, total sales declined from $1.57 billion to $1.12 billion. The company cited weak demand of coal as a key obstacle. Shares plunged 8.82 percent to $4.96 at the end of the trading session.

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