ACCESSWIRE / October 24, 2014 / Lower revenue forecast crushed Yelp, Inc. (NYSE: YELP) shares on Thursday with the stock closing down 18.60%.
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YELP closed down over 18% after the local-reviews company forecast fourth-quarter sales that came in below analysts' estimates. The company said in a statement on Wednesday that revenue would be $107 million to $108 million for the current period. Analysts had expected $111 million on average, according to data compiled by Bloomberg. For the third quarter, Yelp posted revenue of $102.5 million, up from $61.2 million a year earlier. Net income was $3.6 million, compared with a net loss of $2.3 million a year ago.
Solid earnings catapult Infinera Corporation (NASDAQ: INFN) to a new 52-week high of $13.96.
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Infinera Corporation has beat analysts' estimates for earnings and revenue for the third quarter. The company reported earnings of 11 cents a share which came in above the 7 cents a share expected by analysts surveyed by Zacks Investment Research. The communication equipment's revenue grew 22.2% year over year to $173.6 million for the quarter, which was also above analysts' estimates of $171.1 million. National Alliance Securities upgraded the stock from Hold to Buy and raised its price target from $10 to $13.
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Being named a Top Employer in a Science Magazine survey sends AbbVie Inc. (NYSE: ABBV) 4.60% higher on Thursday.
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AbbVie Inc. announced that Science/Science Careers has included the company in its annual Top Employers Survey. The survey is surveyed by more than 5,000 respondents in the biotechnology, pharmaceutical and biopharmaceutical industries."It is an honor to once again be named among the top employers in Science magazine's annual ranking in our second year as an independent company," said Michael Severino, M.D., executive vice president, Research and Development and chief scientific officer, AbbVie.
Ebola screening technology announcement sends Cocrystal Pharma, Inc. (OTCBB: COCP) shares higher on Thursday with the stock closing up 9.09%.
For an in-depth report on Cocrystal Pharma, Inc. follow: www.pennystocktitans.com/stockquote/COCP
Shares of COCP hit as high as $0.49 with over 1.2 million shares trade on Thursday after the company released a big announcement. The company has developed what it believes to be the first high-throughput screening technology for inhibitors of a key essential Ebola virus gene product. According to Cocrystal Chief Scientist, Dr. Roger Kornberg, "We are very excited to have cloned the gene, purified and characterized its product, and integrated the gene product into our high-throughput platform. We believe we are the first group to have developed a novel screening methodology that can accurately identify inhibitors, which are potential drug candidates."
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SOURCE: Stock Publisher