Today’s midday gainers are Yelp Inc (NYSE:YELP), RetailMeNot Inc (NASDAQ:SALE) and Lee Enterprises, Incorporated (NYSE:LEE). The list of losers: Spirit AeroSystems Holdings, Inc. (NYSE:SPR), Pandora Media Inc (NYSE:P) and Altisource Portfolio Solutions S.A. (NASDAQ:ASPS).
Yelp Soars with Revenue Increase
Up +20.8% today is Yelp Inc (NYSE:YELP). The San Francisco-based internet company reported per-share losses of $0.03 – a major improvement given that it posted $0.08 EPS losses in Q4 2012. Its revenue climbed a staggering +72% to $70.65 million, beating expectations by more than $3 million. The stock has a 0.01% allocation in the portfolio managed by billionaire George Soros.
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RetailMeNot Inc (NASDAQ:SALE), another Soros pick, increased +10.33% after reporting quarterly revenues of $78.5 million – a +55% gain year-over-year. Though it missed its EPS target by $0.03, a number of analysts have rated the stock as a buy or outperform.
Last on today’s list of gainers is Lee Enterprises, Incorporated (NYSE:LEE), which surged +8.9% midday. With 88,000 shares, Warren Buffett has a small stake in the media company. As has been par for the course in recent days, Lee’s gain is the result of its quarterly earnings report, which informed investors of double-digit growth in digital revenues and audiences as well as reduced expenses, strong cash flows and lower debt.
Pandora takes a dip
On the flipside is Spirit AeroSystems Holdings, Inc. (NYSE:SPR), down -17.80% after reporting a loss of $586.9 million despite increased revenues. Given that the company has been posting better-than-expected results for several quarters, this recent announcement was quite a surprise. With 2.68 million shares, David Einhorn has a 1.15% stake in SPR.
Second to Spirit is Pandora Media Inc (NYSE:P), which dipped -12.08%. Several of the company’s metrics were reported today, including increases in listener hours, U.S. radio market share and listener activity. The problem? Monetization – an issue not uncommon to internet companies. George Soros has a 0.02% stake in Pandora, and Steve Mandel 2.33%.
Falling -9.57%, today’s third biggest midday loser is Altisource Portfolio Solutions S.A. (NASDAQ:ASPS). The loss is largely attributed to New York regulators’ decision to halt an Ocwen (NYSE: OCN) deal with Wells Fargo to purchase $2.7 billion of mortgage servicing rights. Because Altisource is a spin-off of Ocwen, it remains closely tied to its performance, hence the hit it took today. Altisource composes 2.15% of Leon Cooperman’s portfolio, and Julian Robertson, Mandel and Cooperman have stakes in Ocwen.