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

Shares of Leap Wireless International (NASDAQ:LEAP) 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. (NYSE:YELP) 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 (NASDAQ:WYNN) 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. (NASDAQ:SFLY) 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. (NYSE:C) 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