Friday Market Movers
As the S&P 500 Index rose approximately 1.8 percent Friday, the following three stocks saw even more significant upward price movements.
OpenTable (NASDAQ: OPEN): Shares of OpenTable traded higher on Friday after the company reported second-quarter earnings that topped analyst forecasts. The company reported earnings of $0.42 per share, compared to the average analyst estimate of $0.37 per share. The company posted revenue of $39.6 million, compared to analysts average estimate of $39.4 million. Though OpenTable beat earnings and revenue estimates, the company's net income fell from $6.3 million to $5.7 million.
Matt Roberts, President and CEO, commented, "We're pleased with the progress we're making across a variety of areas that support future growth in both our North America and International businesses. The relaunch of the toptable site marks a significant milestone as it lays the foundation for growth in the UK, which is at the core of our International business. We're excited that London now represents our largest concentration of local restaurant customers in the world."
OpenTable traded up close to 17 percent on Friday.
Blue Nile (NASDAQ: NILE): The online diamond and fine jewelry retailer traded higher on Friday after the company reported earnings that topped analyst estimates. Blue Nile reported earnings of $0.11 per share and revenue of $91 million. On average, Wall Street analysts estimated that the company would report earnings of $0.07 per share and revenue of $88.9 million. The company saw its net income decrease by 43 percent year-over-year due to a $2 million increase in expenses.
Harvey Kanter, President and Chief Executive Officer, said in a statement, "We are pleased to report significant revenue growth along with improved profitability, and we are especially excited about the continued acceleration in the sales of engagement products. This affirms that our current strategy is working, particularly with favorable conditions in the diamond supply market.”
Blue Nile traded up around 39 percent during Friday's trading session.
LinkedIn (NASDAQ: LNKD): Shares of LinkedIn traded up after reporting earnings that beat analyst estimates. Second-quarter revenue rose 89 percent year-over-year to $228.2 million, beating analyst estimates of $216.3 million. The company reported earnings of $0.16 per share, which was in line with analyst estimates. In addition, the company reported favorable earnings in an earnings season where social media companies have not fared well.
LinkedIn traded up about 14 percent on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.