Diamonds and Dogs
Looking for places to eat has changed from using the phone book to using an app. Today's diamond allows us to read reviews and see the food before we ever get to a restaurant. Yelp (YELP) is seeing their shares skyrocket up over 20% following better than expected earnings. The company easily beat estimates with an average of 21 million uses per month during the last quarter which is an increase of 32% year over year. Going forward the company expects business to pick up which is good for shareholders.
Today's dog is no longer hip, but more of a square. Square INC (SQ) is dropping over 20% closing in on its 52 week low following earnings yesterday. The company that has the same CEO as Twitter reported less than stellar results. The cellphone payment-processing company did beat sales estimates and tried to put a positive spin on a quarterly loss that was twice as big as last year, but shareholders were not impressed. The stock was having a good year until the last several weeks. On May 17 the company said approximately 64 million stock options and warrants will be exercisable. That's not great news in the short term for shareholders or those trying to exercise their stock.