LinkedIn Sharply Higher Following Q3 Report

LinkedIn Corp LNKD shares are trading higher by $26.40 at at $243.40 in Friday's session. The catalyst for the rally is a Q3 EPS beat of $0.32 with nearly $25 million more in revenues. After a sharply higher open ($240.24 vs. Thursday's close of $217), it retreated to $236.05 before resuming the move higher. So far, it has taken the issue to $246.06. That marks the highest level for the issue since it peaked on April 30 at $256.78. The following day it swooned to $205.21 when the Street was disappointed with its Q1 report. Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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