Shares of business social networker LinkedIn (LNKD) jumped in the extended session after the company trounced the consensus profit view for its latest quarter and gave a solid outlook.
LinkedIn posted non-GAAP earnings of $13.3 million, or 12 cents a share, in the December-ended period on revenue of $167.7 million, more than doubling its revenue total of $81.7 million in the same period a year earlier.
The average estimate of analysts polled by Thomson Reuters was for earnings of 7 cents a share in the company's fiscal fourth quarter on revenue of $159.7 million.The stock was last quoted at $83.27, up 9%, on volume of 1.8 million, according to Nasdaq.com. LinkedIn made its public market debut in May, pricing its IPO at $45 per share. True Religion Apparel (TRLG) shares was another big mover late with shares dropping sharply. The Vernon, Calif.-based clothing company reported fourth-quarter adjusted earnings of $15.7 million, or 62 cents a share, on sales of $119.4 million, below the analyst view for a profit of 71 cents a share on sales of $128 million. The stock plunged 22.6% to $28.45 on volume of nearly 400,000, according to Nasdaq.com, in the wake of the news. Other companies active in late trades included Activision Blizzard (ATVI), whose stock rose 1% to $12.79 on volume of more than 740,000 after the game maker cruised past Wall Street's expectations in its fiscal fourth quarter, posting a profit of 62 cents a share on revenue of $2.41 billion; Expedia (EXPE), whose shares slid 3.7% to $32.90 on volume of 500,000 after the online travel company reported revenue of $787.1 million for the December quarter, below the consensus view of $812.4 million; Exide Technologies (XIDE), whose stock lost 19% to $3.24 on volume of around 200,000 after the Milton, Ga.-based battery maker reported disappointing results for its fiscal third quarter with sales down year-over-year because of "the lack of normal seasonal weather across North America and Europe" and backed off a prior profit outlook; and Leapfrog Enterprises (LF), whose shares tumbled more than 9% to $6.20 on volume of more than 100,000 after the educational toy company beat the average analysts' view for its fiscal fourth quarter but gave a 2012 outlook for earnings of 40 to 45 cents a share, slightly below the consensus view of 41 cents at the low end of the guidance. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV