NEW YORK (TheStreet) -- LinkedIn (LNKD) plummeted in after-hours trading, despite its second-quarter revenue and earnings beat. Etsy (ETSY) - Get Report jumped by double-digits during the regular trading session, ahead of its earnings report next week. Netflix (NFLX) - Get Report climbed higher as its hotel partner Marriott International (MAR) - Get Report provided more information on the arrangement.
LinkedIn tanked over 4% to $218.10 although it was down as much as 8% in after-hours trading. It finished the regular trading session down 2% to wrap up the day at $227.39.
The social networking giant had a wild ride in after-hours trading, following its strong second-quarter performance that beat analysts' revenue and earnings estimates. Initially, LinkedIn soared as high as 10% in after-hours trading before its reversal, according to an Investor's Business Dailyreport.
It wasn't readily apparent what spooked investors. The company, afterall, issued a revenue forecast of $745 million to $750 million for the third quarter, which surpassed Wall Street's estimates of $744 million, according to Investor's Business Daily. The company's third-quarter earnings forecast was also on par with analysts estimates, the report noted.
LinkedIn posted a 33% increase in revenue to $711.7 million in the quarter, compared to the previous year, with adjusted earnings of 55 cents a share, according to a Reutersreport. Analysts had expected the social networking giant to earn 30 cents per share on revenue of $$679.8 million, according to Reuters.
Etsy surged 11.7% to close at $21.20.
The online marketplace platform for artists and craftsmakers updated its terms of its service and folded in new legal policies, according to an International Business Timesreport.
Various controversial comments have sprung up on the way that Etsy handles its terms of service, regarding the artists and craftsmakers who sell their wares on the online marketplace.
With its updated terms of service, Etsy unveiled a new section tagged "Our House Rules." There is one section for sellers, buyers and third-party developers.
Meanwhile, Etsy is scheduled to announce its second quarter earnings on Aug. 4, a move that some investors hope will yield better results than its previous earnings announcement. When it reported its previous quarter, its first since it launched its IPO, the company missed analysts' expectations and its stock sunk by 23% the following day, according to International Business Times.
Netflix jumped 4.2% to close at $111.56.
But in an interview on CNBC, the hotel chain's CEO Arne Sorenson was asked about the slow pace of the rollout and questioned whether some of the chain's hotel franchisees were reluctant to offer such a service because it would cut into their own revenue.
Sorenson replied the chain has received "no resistance from the owners," who, he said, are looking forward to offering the Netflix service.
He attributed the slow pace of the rollout to the technology changes that will be needed to have the service work with the televisions and broadband services that are currently in the facilities.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.