Linkedin’s solid Quarter, American International Group, Inc. (NYSE:AIG) Slumped

Linkedin Corporation(NYSE:LNKD) has beaten analysts’ estimates and posted spectacular profits in the third quarter reinforcing its ‘favorite’ tag with investors, while several other Internet companies continue to be shunned.

The company earned $2.3 million or 2 cents a share, much better than the loss of $1.9 million or 2 cents a share in the year ago quarter.  Adjusted earnings were $25.1 million or 22 cents a share, double analysts’ estimates.

Revenue rose a whopping 81 percent to $252 million from $139.5 million.  The Street had expected only $244.6 million. Most of the revenue came from charges paid by companies for accessing profiles and other data and the rest came from advertising.

The professional networking service company has added several new features as well as applications for smart phones and tablets to draw more eyeballs and ensure that visitors remain on the site for longer.

For this quarter, LinkedIn expects revenues of $270 million to $275 million in line with analysts’ expectations of $272.9 million.

Shares of the company ended flat after soaring 8% earlier in the session.

Strong insurance operations and healthy returns on investments made have helped American International Group, Inc.(NYSE:AIG) which had suffered in the financial crisis of 2008, boost profits in the third quarter.

The New York-based company earned $1.86 billion or $1.13 a share, compared to the loss of $4 billion or $2.10 a share in the prior year quarter.  The operating income of $1 a share was much higher than analysts’ expectations of 87 cents. 

2008 had been a bad year for the company and the Federal Reserve had to bail it out with $182.5 billion.  The company has since been restructured and the debt paid off.

Shares of the company fell $2.52 or 7.16% to $32.68 after the earnings announcement.

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Linkedin Corporation (NYSE:LNKD): Wall Street Expects A Robust Performance In 3Q

Linkedin Corporation(NYSE:LNKD)’s status as a rising star on the internet on Wall Street is expected to rise even further on its third quarter earnings.

The results are supposed to be out today after the stock market closes. It will need the estimates of the top-notch analysts in order to propel LinkedIn’s outstanding stock to even greater heights. A disappointing performance could drag down a stock that has more than doubled since the time LinkedIn had gone public in May of 2011 at $45.

The warm embrace that investors have showered on LinkedIn lies in contrast with the cold shoulder that other reputed Internet companies have received ever since they went public in the last 18 months. Facebook, Zynga, Groupon and Pandora Media are some of such examples. All deal well lower than their initial public stock offering prices.

LinkedIn is doing better than its Internet peers since its growth has been progressively accelerating as more people around the world share their professional backgrounds and desires on its networking service. That has encouraged more head-hunters and companies looking to hire employees to pay the fees that LinkedIn charges to gain better access and more insights into the information that is posted on website.

Things have been going pretty well for LinkedIn. Analysts have started to raise the financial bar that they expect the company to clear. In the second quarter, average revenue of the analysts was only $1 million, or less than 1%, higher than the top end of management’s projections.

LinkedIn has been adding more features recently and redesigning its website in an attempt to give people a reason to visit more often and stick around longer. The company has also been rolling out more applications for tablet computers and smartphones to make it easier for members to engage when they were away from their homes or offices.

Shares of LNKD are trading flat in early session.

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Apple Inc. (NASDAQ:AAPL) Weighs Tech Sector, while Sprint Nextel (NYSE:S) Hits New High – CLWR, GRPN, EBAY, KITD, PCS, EXPE, LNKD

The tech sector is trading flat on Thursday with Apple Inc.(NASDAQ:AAPL) reumed its downward movement, while Sprint Nextel Corporation(NYSE:S) and Clearwire Corporation(NASDAQ:CLWR) are the notable winners. Technology SPDR (ETF)(NYSEARCA:XLK) is down 0.10%.

Apple Inc.(NASDAQ:AAPL)’s shares resumed downtrend after yesterday’s slight retreat, and the stock was recently down 1.55% to $631.14. The stock has lost almost 10% from its life time high of $705.07 on Sep 21, 2012 just after the launch of iPhone 5.

This morning, there was a good news for its biggest rival, Samsung, where the court has given green signal to Samsung to continue selling its latest Galaxy Nexus smartphone in the US. The US Court of Appeals for the Federal Circuit has approved Samsung’s appeal to lift a ban set by lower court on sales. Samsung wishes to continue selling the phone while challenging a federal judges’ ruling as on 29th June that Apple was likely to win its lawsuit that claimed that Galaxy Nexus violated four Apple patents.

Recently, there have been lot of talk about the company’s potential  to innovate further for its next generation iPhone. The reason is that the company’s latest iPhone was failed to impress its investors due to limited features addition and highly criticized Apple Maps, which was replaced from earlier Google Maps. In fact, today Google Inc(NASDAQ:GOOG)’s chairman Eric Schmidt has iterated what he said earlier in the aftermath of the release of Apple Inc.(NASDAQ:AAPL)’s iPhone5 and the criticism levelled at its mapping software - "Apple should have kept our Maps."

However, still there are some who thinks that the stock is still a good buy at current market price and find it as a good buying opportunity.

Sprint Nextel Corporation(NYSE:S) is making news today as the company confirmed that it has been negotiating a deal with Softbank. Softbank Corp is expected to invest over 1 trillion yen ($12.8 billion) as per the report.

Sprint Nextel is the third-largest U.S. carrier with over 56 million users at end-June and market cap of $15.62 billion of Wednesday’s session.

An analyst at Roe Equity Research estimates Sprint to get an offer of $6.40 a share, witnessing a 27% premium to Wednesday’s closing price.

Shares of Sprint soared 12.40% to $5.66, off its new high of $6.04.

Sprint’s news is pushing Clearwire Corporation(NASDAQ:CLWR) higher as well with the stock soared 52% to $1.97 as Sprint hold 49% of the struggling company. The stock has tripped up circuit breakers

Shares of PCS pared its entire 9% loss for the session and were recently trading flat at $12.01.

KIT digital, Inc.(NASDAQ:KITD) plunged 13% and made a new low although no news has hit the wires explaining the move. Over the course of 2012, KIT has seen management changes, board changes, job cuts, and a 4,000-mile HQ move.

Groupon Inc(NASDAQ:GRPN) shares are rebounding after yesterday’s slump on newsthat eBay Inc (NASDAQ:EBAY) has ventured into what was previously Groupon Inc(NASDAQ:GRPN)’s territory – it has revamped its website and turned it into an online platform for lucrative deals on local services. Shares of GRPN are up over 4%.

Expedia Inc(NASDAQ:EXPE) fell 2.22% after ITG Research claims the company's Q3 domestic sales are tracking to $640M, below a $643M consensus.

Linkedin Corporation(NYSE:LNKD) surged 2.24% after ITG forecasts Q3 revenue will come in at $255M, soundly above a $244M consensus. The business social networking leader has delivered a string of revenue beats, and the Street seems to be pricing in another one.

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