Read the May 2013 issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone app.

Order the new issue of TSP for Kindle here.

Here are some of the topics covered in the May 2013 issue:

*Cloud software shines in Q1 earnings season

*NetSuite shows why it’s a cloud leader

*ServiceNow expanding its addressable market

*Proofpoint raises guidance on key security wins

*SPS Commerce builds its customer base

*Sourcefire raging in networking security

*Adobe Systems gets traction in the cloud

*A valuation reset for Citrix Systems

*Yahoo focuses on content & mobile

*Fusion-IO diversifies its customer portfolio

*LinkedIn disrupts enterprise recruiting

*New growth drivers at Microsoft

*Apple readies its next product cycle

*Akamai sees growth in cloud infrastructure

*Riverbed Technology tries to find footing

*A new capital allocation strategy at Harmonic

*Deal Report: Marketo IPO overview

Shares of Splunk (SPLK, $46.90) are up more than 3% on active volume after the Big Data specialist last night reported that fiscal Q1 (April) revenue grew 54% to $57.2 million, topping the consensus estimate of $53.9 million.

For fiscal Q2 (July), the company sees revenue of $61 million to $63 million, vs. the consensus of $61.6 million. For fiscal 2014 (Jan.), Splunk raised its revenue guidance range to $266 million-$274 million from the previous range of $260 million-$270 million.

Shares of networking security vendor Palo Alto Networks (PANW, $49.28) this morning are down more than 9% on heavy volume following a top-line miss in fiscal Q3 and weaker-than-expected revenue guidance for fiscal Q4. The company blamed softness in Europe and the federal vertical for the shortfall.

D.A. Davidson yesterday upgraded mobile chipmaker RF Micro Devices (RFMD, $5.47) to ‘Buy’ with a price target of $7 based on increased smartphone exposure (at Samsung and Apple) as well as potential margin expansion.

Shares of SPS Commerce (SPSC, $54.93), a provider of cloud-based supply chain management solutions, today hit a new all-time high at $55.14.

We first wrote about the company in the January 2013 issue of Tech-Stock Prospector (TSP #131) when the shares were trading around $38.60.

For the latest update on SPS Commerce’s growth outlook, see the May 2013 issue (TSP #135). Order the latest issue of TSP here for your Amazon Kindle or Kindle for iPad/iPhone reading app.

Following today’s bullish capital allocation news, EMC (EMC, $24.94) shares are rallying 5.4% and have taken out the 200-day moving average at $24.76. For more on EMC, Tech-Stock Prospector subscribers should see today’s Rob’s Journal.

Jefferies upgrades Facebook (FB, $23.32) to ‘Buy’ with a price target of $32 on an improved risk/reward profile following the recent pullback in the shares. The firm is particularly positive on Facebook’s upcoming launch (expected in July) of video ads.

Shares of Jive Software (JIVE, $16.93) have rallied back to the top of their recent trading range, rebounding 30% from the April 30 low of $13.03. There is resistance at the March high of $17.28. The RSI is strong at 72.3.  A Bloomberg article today says Jive, a provider of enterprise social collaboration software, could be a takeover target for larger players such as IBM or Oracle.

Facebook (FB, $23.50) shares are breaking down after taking out the 200-day moving average. The RSI has dropped to 26.7.

Ahead of the release of fiscal Q3 (April) earnings tomorrow, Palo Alto Networks (PANW, $53.78) gets an upgrade to ‘Outperform’ with a price target of $65 over at Pacific Crest. The consensus revenue estimate for the April quarter of $103.4 million indicates growth of 57.5%. The stock remains well below its post-IPO high of $72.61.

Guidewire Software (GWRE, $42.87 after hours, +5.1%), one of our 8 TSP Tech Disruptors for 2013, reports fiscal Q3 (April) EPS of four cents, one cent above the consensus estimate, on revenue of $68.3 million (+20% y/y), vs. the consensus of $63.5 million. Rolling four quarter recurring term license and maintenance revenue rose 34%.

For more on Guidewire, see the March 2013 issue of Tech-Stock Prospector (TSP #133).

Shares of Google (GOOG, $890.05) have pulled back from the recent high of $920.60, but remain well above the 50-day moving average of $829.57.

According to AllThingsD, Yahoo (YHOO, $26.33) has made an offer of $600 million to $800 million for premium video site Hulu, which is owned by Disney, News Corp. and Comcast. There are several bidders in the first round and a source says offers under $1 billion are unlikely to be accepted.

Read the May 2013 issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone app.

Order the new issue of TSP for Kindle here.

Here are some of the topics covered in the May 2013 issue:

*Cloud software shines in Q1 earnings season

*NetSuite shows why it’s a cloud leader

*ServiceNow expanding its addressable market

*Proofpoint raises guidance on key security wins

*SPS Commerce builds its customer base

*Sourcefire raging in networking security

*Adobe Systems gets traction in the cloud

*A valuation reset for Citrix Systems

*Yahoo focuses on content & mobile

*Fusion-IO diversifies its customer portfolio

*LinkedIn disrupts enterprise recruiting

*New growth drivers at Microsoft

*Apple readies its next product cycle

*Akamai sees growth in cloud infrastructure

*Riverbed Technology tries to find footing

*A new capital allocation strategy at Harmonic

*Deal Report: Marketo IPO overview

Facebook (FB, $24.53) shares have taken out the 200-day moving average at $24.99 and the March low of $24.72. The RSI is down to 32.3.

SAP (SAP, $76.08) announces that SuccessFactors founder Lars Dalgaard will be leaving the company. Dalgaard had been leading SAP’s cloud efforts since the software giant purchased his HCM cloud-software company for $3.4 billion in a deal announced at the end of 2011. Former Ariba CEO Bob Calderoni will now run SAP’s cloud business.

Wedbush downgrades Salesforce.com (CRM, $42.94 pre market) to ‘Neutral’ and reduces its price target to $42 from $51 based on a significant decline in fiscal Q1 deferred commission expenditures, which the firm says is an indication that new sales activity was down substantially in the quarter.

Salesforce.com (CRM, $42.94 after hours, -6%) reports fiscal Q1 (April) EPS of 10 cents, in line with the consensus estimate, on revenue of $893 million (+28% y/y), vs. the consensus of $887.1 million.

Deferred revenue advanced 30% to $1.73 billion. Unbilled deferred revenue was up 33% to $3.6 billion.

For fiscal Q2, the company sees EPS of 11 cents to 12 cents (the consensus is 12 cents) on revenue of $931 million to $936 million (the consensus is $934.5 million).

Read the May 2013 issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone app.

Order the new issue of TSP for Kindle here.

Here are some of the topics covered in the May 2013 issue:

*Cloud software shines in Q1 earnings season

*NetSuite shows why it’s a cloud leader

*ServiceNow expanding its addressable market

*Proofpoint raises guidance on key security wins

*SPS Commerce builds its customer base

*Sourcefire raging in networking security

*Adobe Systems gets traction in the cloud

*A valuation reset for Citrix Systems

*Yahoo focuses on content & mobile

*Fusion-IO diversifies its customer portfolio

*LinkedIn disrupts enterprise recruiting

*New growth drivers at Microsoft

*Apple readies its next product cycle

*Akamai sees growth in cloud infrastructure

*Riverbed Technology tries to find footing

*A new capital allocation strategy at Harmonic

*Deal Report: Marketo IPO overview

Goldman Sachs adds Demandware (DWRE, $30.33), a provider of cloud-based e-commerce solutions for retailers, to its ‘Conviction Buy’ list with a price target of $40 based on relative valuation, recent strength in bookings, improvements made in sales force productivity and customer GMV growth.

Demandware went public in March 2012 at $16 a share and opened for trading at $25.25. The shares ended 2012 at $27.32.

Pacific Crest thinks Citrix Systems (CTXS, $64.41) estimates are conservative, saying changes being made at the company could reaccelerate growth. The firm believes additional product integration and the launch of XenDesktop 7 significantly expand cross-selling opportunities at Citrix.

Big drops today for some recent momentum names:

*Yelp (YELP, $29.25) -7.3%

*CommVault Systems (CVLT, $67.97) -7.1%

*Zillow (Z, $56.09) -5.5%

*Workday (WDAY, $65.10) -4.9%

*NetSuite (N, $89.41, -4.6%)

Shares of Facebook (FB, $25.47) have fallen back to the low end of the recent trading range, coming down from the May 3 high of $29.07. The stock is below its 50-day moving average of $26.57, but for now is holding the 200-day moving average of $24.96. There is support at the March low of $24.72.

Northland Securities raises its price target on Ultimate Software (ULTI, $114.30) to $140 from $110 based on the HCM cloud-software provider’s growth outlook. The consensus revenue estimate for 2013 indicates expected growth of 23%.

According to Reuters, new Intel (INTC, $24.11) CEO Brian Krzanich has created a unit to work on new devices and reorganized other key business groups. Intel has confirmed that an internal email was sent out describing the reorganization, says Reuters.

BGC Partners starts coverage of LinkedIn (LNKD, $185.35) at ‘Buy’ with a price target of $225, saying the company is starting to disrupt significant markets, including enterprise recruiting.

For more on LinkedIn, see the May 2013 issue of Tech-Stock Prospector (TSP #135).

UBS raises its Microsoft (MSFT, $35.08) price target to $40 from $33 based on improved earnings visibility, cloud momentum, enterprise strength, potential stability in the PC segment and expectations for a seasonally strong second half of the year.

For more on Microsoft’s new growth drivers, see the May 2013 issue of Tech-Stock Prospector. Order the new issue here for your Amazon Kindle or Kindle for iPad/iPhone reading app.

Shares of TripAdvisor (TRIP, $62.66), the online travel research platform, today hit a new all-time high at $63.01. For more on the company, see the April 2013 issue of Tech-Stock Prospector (TSP #134).

Tableau Software (DATA, $55.30) shares just after the open surged to a new post-IPO high of $59.60.

The stock closed Friday, the first day of trading, at $50.75, up 63% from the IPO price of $31.

For more on Tableau, see TechStock Radar—May 17, 2013.

A new name has been added to the Vulture Portfolio. Subscribers should see inside for details.

Yahoo (YHOO, $26.52) will pay $1.1 billion (substantially all in cash) to acquire blogging platform Tumblr, which has more than 300 million monthly unique visitors and 120,000 signups every day.

The deal, which supplies Yahoo with social media exposure to the important youthful demo, is expected to close in the second half of the year.

From the news release:

Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business. David Karp will remain CEO.

Read the May 2013 issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone app.

Order the new issue of TSP for Kindle here.

Here are some of the topics covered in the May 2013 issue:

*Cloud software shines in Q1 earnings season

*NetSuite shows why it’s a cloud leader

*ServiceNow expanding its addressable market

*Proofpoint raises guidance on key security wins

*SPS Commerce builds its customer base

*Sourcefire raging in networking security

*Adobe Systems gets traction in the cloud

*A valuation reset for Citrix Systems

*Yahoo focuses on content & mobile

*Fusion-IO diversifies its customer portfolio

*LinkedIn disrupts enterprise recruiting

*New growth drivers at Microsoft

*Apple readies its next product cycle

*Akamai sees growth in cloud infrastructure

*Riverbed Technology tries to find footing

*A new capital allocation strategy at Harmonic

*Deal Report: Marketo IPO overview

Marketo (MKTO, $20.65), a provider of cloud-based marketing software used by enterprises and small businesses, last night priced its IPO at $13 and the stock opened for trading today at $20.

The company’s revenue in 2012 rose 80% to $58.4 million. There are 35.78 million shares outstanding after the offering, giving the company a current market cap of $738 million, or 12.6x 2012 revenue.

For more on Marketo, see the May 2013 issue of Tech-Stock Prospector. Read the new issue on your Kindle or Kindle for iPad/iPhone app—order the May 2013 issue here.

Goldman Sachs upgrades Ruckus Wireless (RKUS, $13.92) to ‘Buy’ with a price target of $19 based on valuation and growth prospects in the carrier Wi-Fi segment of the market.

Ruckus shares have proven to be extremely volatile. The stock this week traded to a post-IPO low of $11.82, down sharply from the high of $26.50 set on February 11. The company went public in November at $15 a share.

Tableau Software (DATA, $47.85) priced its IPO at $31 and opened for trading at $47.

For more on Tableau, see TechStock Radar—May 16 and May 6, 2013.

Needham starts coverage of Infoblox (BLOX, $21.82) at ‘Buy’ with a price target of $26, saying near-term infrastructure and sales force build-outs are masking the true earnings power of the company, a provider of automated network control appliances that enable dynamic networks and next-generation datacenters. The firm thinks Infoblox is capable of producing operating margin of 20%+ over the longer term.

Infoblox went public in April 2012 at $16 a share and opened for trading at $22.50.

In Q1, Capital Research Global Investors unloaded 20.37 million shares of Facebook (FB, $26.34), reducing its position to 4.5 million shares. Another big seller was Lone Pine Capital, which totally closed out a position of 10.92 million shares.

According to Bloomberg, noted activist investor Elliott Management has taken a stake in storage solutions vendor NetApp (NTAP, $38.84) of less than 5%. The firm is calling for NetApp to shake up its board and look for ways to improve shareholder value. NetApp shares are rallying 7% on the report.

For more on NetApp, see TechStock Radar--May 13, 2013.

Topeka Capital raises its Google (GOOG, $910.49) price target to $999 from $950 following the start of the I/O developers conference. Among other things, Google yesterday announced its new streaming music service and upgraded the interface for Google+ to look more like Google Now.

In Q1, Wellington Management increased its position in EMC (EMC, $23.72) by 57% with the purchase of 22.2 million shares. The money manager now owns 61.19 million shares and is among the top 5 holders.

Tableau Software (DATA) raises its IPO price range to $28-$30 from $23-$26. The deal is expected to be priced this evening.

In Q1, Turner Investment Partners increased its position in Splunk (SPLK, $44.24) by 25% with the purchase of 312K shares. The firm, which has 26% of its assets in the tech sector, now owns 1.57 million shares of Splunk.

Splunk shares today hit a new post-IPO high at $45.44.

Google (GOOG, $907.07) shares have topped the $900 mark for the first time, trading to a high of $911.76.

Stifel raises its Microsoft (MSFT, $33.67) price target to $38 from $36, saying there is an increasing awareness and appreciation for the company’s enterprise (cloud) unit.

For a look at Microsoft’s new growth drivers, see the May 2013 issue of Tech-Stock Prospector.

Northland Capital raises its NetSuite (N, $94.62) price target to $110, citing the cloud-software provider’s strong competitive position and improving win rates.

For more on NetSuite, see the May 2013 issue of Tech-Stock Prospector. Order the new issue here for your Kindle or Kindle for iPad/iPhone reading app.

Google (GOOG, $887.10) shares today hit a new all-time high at $888.69 ahead of the start of the I/O 2013 developer conference tomorrow. While the company will most likely debut an updated Nexus tablet (and maybe preview the Motorola X smartphone), the focus is expected to be mainly on software, including the next version of the Android operating system, Babel chat and a Google Maps upgrade.

Maxim Group raises its price target on ServiceNow (NOW, $40), a provider of cloud-based IT management solutions, to $46 from $42, saying it thinks the company offers compelling growth potential based on expected market share gains within an expanding segment. The target boost reflects accelerated operating margin expansion over the longer term.

For more on the ServiceNow growth story, see the May 2013 issue of Tech-Stock Prospector. Order the latest issue here for your Kindle or Kindle for iPad/iPhone reading app.

For the latest on why Adobe Systems (ADBE, $43.83), best known for its shrink-wrapped design software, is moving full-force into the cloud, check out the May 2013 issue of Tech-Stock Prospector.

Order the new TSP for Kindle issue here.

There is chatter that an activist investor has taken an interest in storage solutions provider NetApp (NTAP, $36.39). According to dealReporter, its sources say the investor is attracted to the company’s large cash position. NetApp is frequently the subject of M&A rumors, so this is nothing new. Also, NetApp has a market cap of nearly $13 billion.

Rumors continue to swirl that Facebook (FB, $27.10) is in advanced talks to purchase social traffic & mapping app Waze for roughly $1 billion. This would be a smart purchase for Facebook, as the social networking giant looks to extend its mobile reach. Waze would also give Facebook a competitive offering to put up against Google Maps.

Read the May 2013 issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone app.

Order the new issue of TSP for Kindle here.

Here are some of the topics covered in the May 2013 issue:

*Cloud software shines in Q1 earnings season

*NetSuite shows why it’s a cloud leader

*ServiceNow expanding its addressable market

*Proofpoint raises guidance on key security wins

*SPS Commerce builds its customer base

*Sourcefire raging in networking security

*Adobe Systems gets traction in the cloud

*A valuation reset for Citrix Systems

*Yahoo focuses on content & mobile

*Fusion-IO diversifies its customer portfolio

*LinkedIn disrupts enterprise recruiting

*New growth drivers at Microsoft

*Apple readies its next product cycle

*Akamai sees growth in cloud infrastructure

*Riverbed Technology tries to find footing

*A new capital allocation strategy at Harmonic

We selected our 8 TSP Tech Disruptor companies for 2013 in the December 2012 issue of Tech-Stock Prospector (TSP #130).

Here is a look at how the stocks are performing so far this year. We compare the current share prices to the prices listed in the December issue.

8 TSP Tech Disruptors for 2013 (ranked by return)

Some notes:

*Splunk shares today hit a new post-IPO high of $45.12. The company went public in April 2012 at $17 a share and opened for trading at $32.

*NetSuite shares in 2012 rose 65.9%. The stock today hit a new all-time high at $91.14.

*Guidewire Software shares today hit a new all-time high at $43.43.

*Workday shares today hit a new post-IPO high at $67.75. The company went public in October 2012 at $28 a share and opened for trading at $48.05.

*The two security names in the group (Imperva & Palo Alto Networks) are the laggards.

Past performance is no guarantee of future results.

OpCo starts coverage of Workday (WDAY, $64.96) at ‘Outperform’ with a price target of $80, saying the cloud-software company is only lightly penetrated into a very large TAM opportunity.

For more on Workday, see the March 2013 issue of Tech-Stock Prospector (TSP #133).

Priceline.com (PCLN, $737) reports Q1 EPS of $5.76, 49 cents above the consensus estimate, on revenue of $1.3 billion (+25.6% y/y), vs. the consensus of $1.28 billion. The guidance for Q1 was EPS of $4.90 to $5.30 on revenue of $1.214 million to $1.286 million.

For Q2, the company sees EPS of $8.87 to $9.45 (below the consensus of $9.58) on revenue of $1.524 billion to $1.591 billion, vs. the consensus of $1.64 billion.

Read the May 2013 issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone app.

Order the new issue of TSP for Kindle here.

Here are some of the topics covered in the May 2013 issue:

*Cloud software shines in Q1 earnings season

*NetSuite shows why it’s a cloud leader

*ServiceNow expanding its addressable market

*Proofpoint raises guidance on key security wins

*SPS Commerce builds its customer base

*Sourcefire raging in networking security

*Adobe Systems gets traction in the cloud

*A valuation reset for Citrix Systems

*Yahoo focuses on content & mobile

*Fusion-IO diversifies its customer portfolio

*LinkedIn disrupts enterprise recruiting

*New growth drivers at Microsoft

*Apple readies its next product cycle

*Akamai sees growth in cloud infrastructure

*Riverbed Technology tries to find footing

*A new capital allocation strategy at Harmonic

*Deal Report: Marketo IPO overview

Rackspace Hosting (RAX, $39.40) shares today are off 24% on reduced growth expectations. For Q2, the company sees revenue of $369 million to $375 million, below the consensus estimate of $384.4 million. For the March quarter, Rackspace reported EPS of 19 cents, one cent below the consensus, on revenue of $362.2 million (+20% y/y), vs. the consensus of $367.2 million.

Read the May 2013 issue of Tech-Stock Prospector on your Barnes & Noble NOOK.

Order the new issue of TSP for NOOK here.

Here are some of the topics covered in the May 2013 issue:

*Cloud software shines in Q1 earnings season

*NetSuite shows why it’s a cloud leader

*ServiceNow expanding its addressable market

*Proofpoint raises guidance on key security wins

*SPS Commerce builds its customer base

*Sourcefire raging in networking security

*Adobe Systems gets traction in the cloud

*A valuation reset for Citrix Systems

*Yahoo focuses on content & mobile

*Fusion-IO diversifies its customer portfolio

*LinkedIn disrupts enterprise recruiting

*New growth drivers at Microsoft

*Apple readies its next product cycle

*Akamai sees growth in cloud infrastructure

*Riverbed Technology tries to find footing

*A new capital allocation strategy at Harmonic

*Deal Report: Marketo IPO overview

Shares of networking security specialist Palo Alto Networks (PANW, $49.50) today slipped below recent support at the April low of $50.29, falling 5.8% on heavy volume.

After the close, the company set the date for its fiscal Q3 earnings results (May 30) and did not negatively pre-announce, so investors might see that as a positive sign given what has been going on in the networking sector (lots of deal push-outs) over the past several weeks.

Shares of videogame maker Electronic Arts (EA, $21.28) this morning are up 15% on heavy volume. The stock has rebounded 97% from the 52-week low of $10.77 set in July. For more on EA, see the March 2013 issue of Tech-Stock Prospector (TSP #133).

Sources tell the All Things D website that Yahoo (YHOO, $26.07) CEO Marissa Mayer recently kicked the tires at Hulu, but that no formal offer has been made for the up-for-sale premium video service, which has roughly 4 million premium subscribers. Other potential buyers for all or part of Hulu: Chernin Group, Guggenheim Partners and Amazon.

Apple (AAPL, $462.05) shares are approaching the March high of $469.95. After that, there’s resistance at $484.94 from February. After a long slide that started in October, the 50-day moving average has stabilized at $433.33.

CommVault Systems (CVLT, $83.66 pre market, +7%), a provider of storage-management solutions, reports fiscal Q4 (March) EPS of 41 cents, seven cents above the consensus estimate, on revenue of $138.3 million (+21% y/y), vs. the consensus of $133.9 million. A record number of enterprise software deals drove the quarter.

Topeka Capital restarts coverage of mobile chipmaker Skyworks Solutions (SWKS, $23.03) at ‘Buy’ with a price target of $25 based on the company's growth prospects in the smartphone segment. For fiscal 2013 (Sept.), the consensus EPS estimate of $2.16 indicates growth of 13.6%.

Tableau Software (proposed symbol: DATA), a provider of enterprise analytics solutions, has set the price range for its upcoming IPO at $23 to $26 a share for an initial valuation in the $1.32 billion to $1.49 billion range.

Barclays raises its Apple (AAPL, $449.98) price target to $525 from $465, saying the near-term outlook is improving, with gross margin estimates for the June and September quarter conservative ahead of a new product cycle. The firm also thinks the buyback provides relief to the recent downside pressure on the stock.

Read the April 2013 issue of Tech-Stock Prospector on your Amazon Kindle or Kindle for iPad/iPhone app.

Last chance to order the April issue here before the May issue comes out next week.

Here are some of the topics covered in the April 2013 issue:

*Oracle in recovery after a tough quarter

*Yelp disrupts local search

*TripAdvisor expands its global presence

*Deal delays trip up F5 Networks

*Is Citrix Systems getting more competitive?

*How Aruba Networks steers wireless traffic

*Tableau Software is ready for the IPO spotlight

*Big Data: EMC and VMware launch Pivotal

*An activist investor tries to shake things up at Harmonic

*Why Palo Alto Networks is the rising star in security

*Juniper Networks attempts to rebound after a tough year

*Marin Software optimizes digital advertising from the cloud

*Electronic Arts seeks a new CEO to help reignite growth

*Fortinet battles for market share in networking security

*Deal Report: Model N finds growth in a software niche

Shares of LinkedIn (LNKD, $182.97) today are down more than 9% on heavy volume. Profit taking is to be expected after the big run since the end of 2012. The stock is now back into its trading range that extends to the start of March, but remains above its 50-day moving average of $177.09.

Shares of Yelp (YELP, $31.47) today are up 24% on heavy volume after the company reported impressive Q1 results (revenue +68% and average monthly unique visitors +43%) and raised 2013 revenue guidance. The stock reached a new all-time high at $32.14.

Mobile continues to be a key growth driver, with 45% of all Q1 searches on the Yelp mobile app; including searches on the mobile Web takes this figure up to 56%. The Yelp app is now installed on more than 10 million mobile devices, up from 9.2 million in Q4. Roughly 36% of all local business ads in Q1 were shown on mobile devices, up from 25% in Q4.

For 2013, Yelp now sees revenue coming in at $216 million to $218 million, up from previous guidance of $210 million to $212 million.  The new guidance midpoint represents 58% growth.

We featured Yelp in the April 2013 issue of Tech-Stock Prospector. You can still order the April issue here for your Amazon Kindle or Kindle for iPad/iPhone reading app.

After pushing through short-term resistance at $819.25, Google (GOOG, $833.89) shares are approaching the all-time high of $844. The RSI is rising from 62.9.

Goldman Sachs remains positive on Facebook (FB, $28.22), reiterating its ‘Buy’ rating and $40 price target following Q1 earnings results. The firm is most impressed with growth in Facebook’s mobile ad revenue and thinks momentum around FBX, Custom Audiences and video ads is just getting started.

Brian Krzanich, COO of Intel (INTC, $23.99) since January 2012, has been named the new CEO, succeeding Paul Otellini. Krzanich, who joined Intel in 1982, will become the sixth CEO in the company’s history.

Facebook (FB, $27.43) reports Q1 EPS of 12 cents, one cent below the consensus estimate, on revenue of $1.46 billion (+38% y/y), vs. the consensus of $1.44 billion.

The key metrics:

*Daily active users: 665 million +26%

*Monthly active users: 1.11 billion +23%

*DAU/MAU engagement: 59.9%, up from 58.3% in Q4

*Mobile MAU: 751 million +54%

*Mobile-only MAU: 189 million +20% sequentially

*Ad revenue (85% of total revenue): $1.25 billion +43%

*Mobile ad revenue: $375 million +22.5% sequentially

*Mobile ad revenue = 30% of total revenue, up from 23% in Q4 and above expectations

Shares of Sourcefire (FIRE, $52.39), a provider of networking security solutions, today are up more than 9% on heavy volume after the company reaffirmed 2013 revenue growth guidance of at least 25% despite significant Q1 weakness in the U.S. federal business.

Wunderlich Securities looks for LinkedIn (LNKD, $191.43) to report strong Q1 results tomorrow after the close, saying it expects increasing levels of engagement to drive upside to the Marketing Solutions unit and growth of new Recruiter customers to continue to drive Talent Solutions revenue.

The firm expects a beat-and-raise report. It does point out that expectations and the valuation are high. So far this year, LinkedIn shares have advanced 66%.

Ultimate Software (ULTI, $96.59), a provider of cloud-based HCM solutions, last night reported Q1 EPS of 32 cents, six cents above the consensus estimate, on revenue of $97.9 million (+25.2% y/y), in line with the consensus. Recurring revenue rose 28%.

For Q2, the company sees revenue of $97 million, vs. the consensus of $98.2 million. For 2013, recurring revenue is expected to be up 25%. Revenue guidance for the year of roughly $408.7 million (growth of 23%) compares to the consensus of $409.3 million.