Release

Today’s Research Reports on Stocks to Watch: Yelp and Tesla

Shares of Tesla were little changed on Thursday after the company announced a new chairman as CEO Elon Musk is expected to step down as part of his settlement with the SEC. Shares of Yelp were falling to a new 52-week low in after-hours trading on a revenue miss in the third quarter and a dismal outlook for the fourth quarter.

RDI Initiates Coverage on:

Yelp Inc.
https://rdinvesting.com/news/?ticker=YELP

Tesla, Inc.
https://rdinvesting.com/news/?ticker=TSLA

Yelp Inc. shares were down nearly 3% in Thursday’s session and continued to fall immensely in after-hours trading. The stock saw nearly 28% more in losses in after-hours trading and dropped below its 52-week low after reporting disappointing third quarter results. The company reported net income of $15 million, of 17 cents a share for the quarter with sales of $241.1 million. Analysts expected 10 cents a share on sales of $245.4 million. Chief Executive Jeremy Stoppelman said during the earnings call, "During the third quarter, we experienced a handful of operational issues in our local advertising business that impacted productivity. As a result, revenue for the quarter was below our outlook range. We believe the majority of these issues were internal and operational, and we have begun to take steps to address our underlying causes." He said the weakness will continue into the holiday quarter. "We have begun to address a number of the issues that impacted our third quarter results; however, we expect them to affect our fourth quarter results as well, as reflected in our business outlook," said the CEO. The company issued weak fourth quarter revenue guidance due to slower new account growth. Fourth quarter revenue is expected to be in the range of $239 million to $243 million.

Access RDI’s Yelp Inc. Research Report at:
https://rdinvesting.com/news/?ticker=YELP

Tesla, Inc. shares were slightly in the green yesterday on about 7 million shares traded. The electric vehicle maker has chosen someone to replace CEO Elon Musk as Chairman. The full-time role is going to Robyn Denholm, a Tesla board member who is currently CFO and head of strategy for Australian telecom company Telstra. She will be leaving this position once her six-month notice period is up. Denholm stated, "I believe in this company, I believe in its mission and I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value." She’s previously held positions in finance and strategy at tech companies like Sun Microsystems and Juniper Networks and according to Musk, "she has made significant contributions as a Tesla Board member over the past four years in helping us become a profitable company."

Access RDI’s Tesla, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TSLA

Our Actionable Research on Yelp Inc. (NYSE: YELP) and Tesla, Inc. (NASDAQ: TSLA) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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