Friday, August 03, 2012
Shares of Internet darling LinkedIn, media stalwart CBS jump
Vote on It:
Average Vote:
[+] Text [-]
 
 

(Reuters) - Shares of professional networking website LinkedIn Corp and broadcaster CBS Corp shot up after both companies delivered better-than-expected results.

LinkedIn reported that second-quarter revenue rose almost 90 percent and raised its full-year outlook on Thursday. Its shares were up 12.1 percent at $104.80 on Friday morning on the New York Stock Exchange.

"The company just appears to get better in what would otherwise seem to be a very tough environment," Evercore analyst Ken Sena wrote in a note.

Meanwhile, CBS posted a quarterly profit on Thursday that beat analysts' forecasts and signaled that its network will benefit from demand for political commercials before the November U.S. presidential election.

Shares of CBS were up 5.4 percent at $34.84 on Friday morning.

In a note to investors, UBS analyst John Janedis wrote that for CBS "the earnings momentum story of the past two years continues to play out."

(Reporting by Jennifer Saba in New York; editing by Matthew Lewis)

Share:
Vote on It:
Average Vote:
 

Sign Up to Post Your CommentsSign Up to Post Your Comments
If you are already registered, click here to login. Otherwise, please take a few seconds to register with Townhall.com. Once you sign up, you’ll be able to post your comments immediately, use the action center, get podcasts, and more!
Note: Fields marked with a red asterisk (*) are required.
Salutation:
First Name:
*
Last Name:
*
Email:
*
Nickname:
*
Note: Nick name will be shown when you post comments.
Address 1:
*
Address 2:
City:
*
State:
*
Zip:
*
Phone: