Diamonds and Dogs
YY (YY) is up, up. YY, the Guangzhou, China based leading provider of a social media platform used for steaming live content is up 21% to new highs after reporting third-quarter results that soundly beat estimates on the top and bottom line. YY reported revenue of $464.8 million, smashing the consensus estimate of $423 million. Adjusted earnings of $1.59 per share also beat the consensus estimate of $1.45 and up 41% from the year-ago period. Revenue from livestreaming rose 60% to $431.6 million.
Target (TGT) misses the mark again and again and again. The holiday season has not even started and yet Target is already waving the white flag. Target reported better than expected earnings for the third quarter, but lowered guidance for the fourth quarter as inventories ballooned. The stock is down 8% not far from a 52 week low.