5 Buzzing Stocks: Leap Wireless Drops 5%, Yelp Closes 63.8% Higher

The Cheat Sheet

Shares of Leap Wireless International dropped nearly 5 percent in late trading.  The company filed to sell 23.5 million shares held by money manager MHR Institutional Partners.

On its first public trading day, Yelp Inc. shares surged 63.8 percent.  Shares edged slightly lower after the closing bell, but are still above $24 per share.  The average Yelp insider acquired shares at $1.12.

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After closing 4.2 percent higher on Friday, shares of Wynn Resorts continue to edge higher in extended trading.  Shares were halted during regular trading as the company retracted an announcement that it had advanced a project in Macau.

Shutterfly Inc. declined 1.15 percent in late trading, despite closing 16 percent higher in regular trading.  The online photo company plans to purchase Kodak’s online photo sharing platform for $23.8 million.  The deal will transfer customer accounts and images in the U.S. and Canada from Kodak Gallery to Shutterfly.

Shares of Citigroup Inc. edged slightly lower as Chairman Richard Parsons has decided not to stand for re-election at the April shareholders meeting.  The WSJ reports that the board is expected to name Michael O’Neill as his replacement.

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To contact the reporter on this story: Eric McWhinnie at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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