Markets

Technology Sector Update for 02/08/2016: YELP

Top Consumer Stocks

WMT -0.15%

MCD +0.56%

DIS -1.90%

CVS -3.71%

KO +0.49%

Consumer stocks lost ground on Monday, with shares of consumer staples companies in the S&P 500 off 0.3% while shares of consumer discretionary firms in the S&P 500 were down almost 2.0%.

In company news, Yelp Inc ( YELP ) slumped to its lowest price in more than three years on Monday after reporting another quarterly net loss and saying chief financial officer Rob Krolik will be stepping down later this year.

On a reported basis, Yelp lost $0.29 per share during the three months ended Dec. 31 compared with a $0.42 per share loss during the same quarter last year and the $0.03 per share loss during the same quarter last year.

Net revenue in Q4 2015 jumped 40% over the year=ago period to $153.7 million, beating the Street's estimates of $152.31 million.

YELP shares closed over 11% at $16.11 apiece, earlier dropping to their lowest level since June 2013 at $15.50 a share.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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