Diamonds and Dogs
Yelp (YELP) heard loud and clear. The online reservation company is up 3% not far from a 52 week high after RBC Capital reiterated an outperform rating with a $55 target in the wake of positive results from firm's third annual consumer survey. Yelp remains RBC's #1 Small Cap Long idea for 2017.
Finish Line (FINL) comes up short. The apparel and shoe retailer is down 11% after missing earnings and sales estimates while also guiding fourth quarter earnings below consensus. For the fourth quarter the company issues downside guidance to 0.68-0.73 cents a share verse estimates of 0.95 cents a share. Management said they were disappointed with the third quarter sales and earnings which fell short due to steep declines in apparel and accessories which offset a high-single digit footwear comp gains and a 33% sales increase in thier Macy's business.
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