Orlando, FL -- (SBWIRE) -- 08/15/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On: LinkedIn Corp (NYSE:LNKD) and Facebook Inc (NASDAQ:FB).
LinkedIn Corp (NYSE:LNKD) shares decreased 2.27% to $236.33. :LNKD’s stock was upgraded by Needham & Company from a “hold” rating to a “buy” rating in a research note issued on August 12. The firm currently has a $280.00 target price on the stock. Separately, Cantor upgraded LinkedIn citing the company's better than expected Q2 results and improving long-term outlook. The firm raised its price target for shares to $250 from $170.
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Additionally, the company released its second-quarter results on August 1. The company earned $3.7 million, or 3 cents per share, during the quarter, from $2.8 million, or 3 cents per share, last year. Adjusted earnings were 38 cents per share. That topped the average estimate of 31 cents per share among analysts surveyed by FactSet. Revenue surged by 59 percent to $364 million — about $10 million above analysts' predictions.
Facebook Inc(NASDAQ:FB) shares decreased 1% to $36.65. The company struck a deal with online restaurant booking service OpenTable Inc (OPEN) that will allow users to reserve tables at restaurants via a Facebook app, as the world's No. 1 social network continues to expand its mobile services.
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Additionally, the company on August 13 plans to buy the maker of a speech recognition and language translation app, providing technology that could bolster the social networking company's mobile efforts. Facebook did not disclose the financial terms of its deal for Pittsburgh-based Mobile Technologies.
Moreover, the company on July 24 reported second quarter adjusted EPS of $0.19, up from $0.12 in the previous year. The consensus estimate was for EPS of $0.14. Revenues rose 53% to $1.81 billion from $1.18 billion in the same quarter last year. The consensus estimate was for revenues of $1.62 billion.
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