The ruble rallied following remarks from President Vladimir Putin that cautiously endorsed the Russian central bank's policy, according to the Wall Street Journal. The ruble to dollar exchange rate steadied around 61 following the end-of-year news conference.
Putin called the central banks' actions, which included raising its key interest rate to 17%, "on the whole appropriate," though he noted that "some things could have been done more urgently."
Yandex is a Russia-based Internet search company. Shares of the company fell during the ruble's recent decline, but recovered as the currency strengthened.
TheStreet Ratings team rates YANDEX NV as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate YANDEX NV (YNDX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself."