Yelp Inc (YELP) Swung To Surprising Profit; A Look at Four Other Earnings Reports

Page 1 of 2

No major moves in the US stock market this Wednesday morning, as investors digest retail earnings reports and are keeping an eye on oil prices. Analysts are expecting the market to be calm over the next few weeks, except for any shocks, as the stocks continue to trade in a tight range.

In this article we’ll explore a bunch of earnings reports issued on Tuesday after the closing bell. Let’s see how Ambac Financial Group, Inc. (NASDAQ:AMBC), Yelp Inc (NYSE:YELP), Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE), Coherus Biosciences Inc (NASDAQ:CHRS) and Halozyme Therapeutics, Inc. (NASDAQ:HALO) have fared in the second quarter.

While there are many metrics that investors can assess in the investment process, hedge fund sentiment is something that is often overlooked. However, hedge funds and other institutional investors allocate significant resources while making their bets and their long-term focus makes them the perfect investors to emulate. This is supported by our research, which determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor beat the S&P 500 by around 95 basis points per month (see more details here).

stock, stocks, market, marketing, shares, share, global, chart, bonds, tax, capital, concept, graph, growth, background, rise, statistics, economy, bar, future, loss, business,


Revenue Miss Hurts Ambac Financial Group

Ambac Financial Group, Inc. (NASDAQ:AMBC) shares are down by 4%, despite second quarter earnings that exceeded expectations. The company posted adjusted earnings of $2.54 per share, topping analysts’ forecasts of $1.05 per share, and $106.7 million in revenue, lower than the $119 million investors were expecting. So far this year, the stock has been a solid performer, having advanced 36% to yesterday’s closing price of $19.20 per share. At the end of the first quarter, approximately 22% of Ambac Financial Group, Inc. (NASDAQ:AMBC) common stock was held by 17 of the funds followed by Insider Monkey, up from 16 funds a quarter earlier.

Follow Ambac Financial Group Inc (NASDAQ:AMBC)

Surprise Profit at Yelp

Shares of Yelp Inc (NYSE:YELP) has surged by 14% higher this morning after the company swung to a surprise profit and raised its full-year guidance. The company’s turnaround efforts are starting to pay off, as strong local ad sales have fueled an unexpected quarterly profit. Revenues rose by 30% year-over-year to $173.4 million, topping the estimates of $169.8 million, and Yelp reported a profit on $0.01 per share, up from a loss of $0.02 per share reported a year ago. The company increased its third-quarter revenue forecast to $180 million to $184 million, ahead of analysts’ consensus estimate of $179.6 million, and also sees full-year revenue ranging between $700 million and $708 million. The hedge fund sentiment towards Yelp Inc (NYSE:YELP) took a nosedive during the first quarter, as the number of long positions dropped to 33 at the end of March from 42 registered at the end of December.

Follow Yelp Inc (NYSE:YELP)

Turn the page to read about the earnings posted by the remaining three companies in the list.

Page 1 of 2