Shares of Russian Internet search engine ' Yandex ' on the stock exchange in New York on July 28, first fell more than 13 percent and then rose by more than 10 percent. In this case, as the data exchange Nasdaq, became cheaper securities companies with high trading volume, and more expensive - at low.
Trading on the shares ' Yandex ' July 27 ended at around 38.51 dollars for one security. In the first minutes of trading on July 28, they fell below $ 34. By the end of the session on the Nasdaq securities ' Yandex ' cost 37.7 dollars. Thus, during the day, they fell by only two percent.
July 28 ' Yandex ' released a report for the second quarter and first half. It said that net profit for the six months increased by 28 percent over the same period last year and amounted to 1.9 billion rubles. Revenue ' Yandex ' rose 61 percent to 8.4 billion rubles.
Nevertheless, the newspaper ' Vedomosti ' and ' Kommersant ', in his notes of July 29, wrote that investors might not like the report of the search engine. The fact that it refers to the decrease in operating margin from 49.8 to 30.34 percent. In addition, the report states that ' Yandex ' on the basis of 2011 intends to significantly increase capital expenditures.
' Yandex ' in 2011 held one of the most successful Russian IPO. In May, investors valued the search engine in the $ 8 billion, and each share of the company was sold for $ 25 apiece. On the first day of trading the shares ' Yandex ' rose by 55 percent.
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