Yelp posts big gains; Square sinks on downgrade; JCPenney under pressure

Yahoo Finance is tracking the stocks you’re following, based on your Yahoo Finance ticker searches.

Yelp (YELP) – The business review site topped Wall Street expectations in the first quarter. Yelp reported adjusted earnings per share of $0.08 on revenue of $158.6 million. The better than expected results come on the heels of hedge fund manager David Einhorn revealing earlier this week that he had invested in the company.

Square (SQ) – Wedbush Securities downgraded the stock to underperform from neutral after the company missed on profits in the first quarter. A one-time charge of about $50 million weighed on results with the company posting a loss of $0.14 per share, larger than the Street’s estimate of a loss of $0.09.

J.C. Penney (JCP) - The New York Post is reporting that the retailer is taking emergency measures to stay afloat, including slashing its payroll and freezing overtime. The company reports its first-quarter results on May 13.

GoPro (GPRO) – The digital camera maker posted mixed first-quarter earnings results. The company beat analysts’ forecasts for revenue, reporting $183.5 million, but posted a bigger loss than expected of $0.63 per share. Despite a beat on the top line, GoPro’s revenue is about half of what it earned one year ago.

UPS (UPS) – The company declared a $0.78 per share quarterly dividend, which is in line with previous reports. The dividend will be payable June 1 for shareholders on the record as of May 16.

MGM (MGM) – Morgan Stanley resumed coverage on MGM with an overweight rating on the stock and a price target of $29. The investment firm’s analyst Thomas Allen said the company’s potential upside is “hard to ignore.”

Herbalife (HLF)— The company reported better-than-expected earnings results and said that its nearing a settlement with the Federal Trade Commission. If a settlement is reached, Herbalife said in a statement quoted by Bloomberg that its best estimate of a payment is $200 million.