Diamonds and Dogs
ClickSoftware Technologies Ltd. (CKSW)
Everything is clicking for ClickSoftware today, with the stock up 26.58% to $12.43. The workforce management software company saw its shares rally after news the Francisco Partners would buy ClickSoftware for $438 million in cash. Francisco will buy all of ClickSoftware's outstanding shares for $12.65 each, a premium of 45 percent over the average closing price of the company's Nasdaq shares the past 90 days. Both companies stated that they expected the deal to be completed by July. Shares of ClickSoftware rallied over $2.60 to a new 52-week high of $12.55.
Yelp Inc. (YELP)
Yelp is in need of some serious help today, down 23.81% to $39.07. The online business review company saw its shares fall first quarter earnings missed and a downgrade. For the quarter, Yelp reported a loss of $0.02 per share, lower than analysts' estimates of a profit of $0.01 per share. Revenue rose about 55% year over year to $118.5 million, but missed the $120 million that Wall Street expected. The missed earnings caused RBC Capital to downgrade the company to "sector perform" from "outperform" and lower its price target from $82 to $50. Shares of Yelp fell over $12.30 today to a new 52-week low of $38.75.