Companies to watch: Yelp beats, CBS streaming growth, Goldman & Alibaba execs charged in Malaysia
Here are some of the companies Yahoo Finance is watching today.
Yelp (YELP) beat profit expectations for the second quarter by 4 cents a share. The online review company said changes to the way it works with business customers had a positive impact on the bottom line. The company reaffirmed its revenue guidance to grow 8% to 10% this year. Yelp also announced its CFO, Charles Baker, is stepping down in September.
CBS (CBS) had a big quarter. The entertainment giant posted strong earnings -- with second-quarter revenue up 10% from a year ago. It also saw growth in subscribers for its streaming platforms. CBS plans to launch a kids programming area on its All Access service later this year. But there was no word on the call about a potential merger with Viacom (VIA).
Fastly (FSLY), which deals in cloud-computing and security software, is reporting a wider-than-expected Q2 loss. and also disclosed the departure of board member Gil Penchina. The San Francisco-based company, which went public in May, reported a loss for the June quarter of $15.6 million, or 26 cents a share, and revenue rose 34% to $46.2 million. For its 2019 outlook, Fastly is projecting between $191 million and $195 million in revenue.
Malaysia has filed criminal charges against 17 current and former Goldman Sachs (GS) executives – including Alibaba (BABA) President Michael Evans – for allegedly misleading investors while they were arranging almost $7 billion in bonds for the 1Malaysia Development fund. Goldman Sachs said in a statement that the charges are "misdirected and will be vigorously defended."
A Tesla (TSLA) owner is suing the electric car maker, alleging the company limited the battery life on older cars with a new software update. The lawsuit claims that the software update was to avoid a costly recall of older Model S and Model X cars. The lawsuit is seeking class-action status for thousands of Tesla vehicles.
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