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Major Movers on May 2; YELP, V, FB, BEAM, CI

Shares of Yelp Inc. (NYSE: YELP) catapulted 25% by afternoon trade after the online business and restaurant reviewer posted better-than-expected revenue for the fiscal first quarter, late last evening. The Company also provided optimistic guidance for the full-year fiscal. Loss per share however was slightly higher than Wall Street’s estimate.

For the fiscal first quarter, Yelp posted a loss of 8 cents a share while Wall Street analysts’ consensus estimate was for a loss of 6 cents a share, according to  a data compiled by Thomson Reuters. Revenue came in at $46.13 million, edging past Street’s consensus of $44.54 million.

For the fiscal second quarter, the Company expects revenue to be in the range of $52.5 million to $53.5 million, which would represent a growth of 62%, quarter-on quarter. For the full-year 2013, revenue is expected between$216 million to $218 million, representing a growth of 58%, year-on-year.

Shares of Visa Inc. (NYSE: V) climbed about 6.40% by afternoon trade. The credit card transactions processing company said that its net income in the second quarter fell 2%; however, adjusted earnings and revenue edged past Street’s estimates. Revenue across all segment showed a strong growth.

In the same quarter of last fiscal, the Company had recorded a non-cash deferred tax liability benefit of $208 million. Excluding onetime items, non-GAAP earnings came at $1.92 a share, beating analysts’ consensus forecast of $1.81 a share. Revenue climbed to $2.96 billion from $2.58 billion, in the same quarter of last year. The Wall Street analysts were expecting $2.85 billion.

Shares of Facebook Inc. (NASDAQ: FB) jumped about 4% by afternoon trade after the social networking giant handed stronger-than-expected fiscal first quarter earnings on Wednesday, driven by solid revenue- growth from advertising, especially, from mobile ads. The Company said that revenue from advertising surged 43% $1.25 billion, from the year-earlier quarter while revenue from mobile advertising jumping 23% from the previous quarter. For the quarter, revenue from mobile advertising accounted for 30% of the entire adverting revenue.

Shares of Beam Inc. (NYSE: BEAM) climbed about 3.50% after the Company reported higher-than-expected first-quarter earnings on Thursday, thanks to robust demand for its Skinnygirl and Mark bourbon drinks and some new products launches. For the fiscal first quarter, Beam reported a profit of $114.5 million or 71 cents a share up from $79.1 million or 49 cents a share, in the same quarter of last year. Striping onetime items, adjusted earnings came at 64 cents a share while analysts polled by Thomson Reuters were expecting it at 54 cents a share. Sales during the quarter jumped 8% to $577.7 million. The Company also maintained its full-year earnings outlook, which is expected at higher single digit percentage growth.

Cigna Corp. (NYSE: CI) leaped about 4.30% by afternoon trade after the insurance company reported stronger-than-expected earnings and revenue for the fiscal first quarter. For the quarter Cigna reported adjusted earnings of $1.72 a share, which was 29 cents more than Wall Street’s estimate. The Company also boosted its full-year earnings guidance.