Goldman sees upside in Yelp's stock slide, Nvidia soars, Abercrombie & Fitch is fielding offers

Yahoo Finance

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.

Yelp (YELP) shares are sinking in early trading. The online review site gave a much weaker-than-expected outlook for the year and the current quarter after a slew of local advertisers left in the first two months of the year. Plenty of analysts are downgrading the stock this morning, including RBC Capital, Wells Fargo and MKM Partners. But Goldman Sachs turned bullish on the stock, upgrading it to a buy from neutral. Goldman’s analyst Heath Terry points out that the Q1 advertiser issues are fully reflected at these lower levels. He also sees the potential for upside to revised estimates, particularly if Yelp can build on the re-acceleration in user growth seen in the first quarter.

Abercrombie & Fitch (ANF) stock is soaring in early trading after Reuters reported that the struggling teen retailer is working with an investment bank to field buyout interest from other retailers.

Toyota’s (TM) US-listed shares are under some pressure today. The Japanese automaker said it expects profit to fall 20% this year as the stronger yen and a sales slowdown in the US weigh on results.

Nvidia (NVDA) shares surged in early trading. The graphics chip maker delivered a beat on both its top and bottom lines. Revenue soared a whopping 48% in the first quarter as it saw broad growth across its businesses from gaming, to self-driving cars and artificial intelligence.