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After closing 7.2 percent higher on Friday, LinkedIn Corp. (NYSE:LNKD) shares edged .26 percent lower in extended trading. The social network company recently reported net income of $5 million (4 cents per share) for the first-quarter, compared to $2.1 million (0 cents per share) a year earlier. “LinkedIn’s solid performance in the first quarter built on the company’s momentum in 2011,” said Jeff Weiner, CEO of LinkedIn. “We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines.”
Yahoo! Inc. (NASDAQ:YHOO) shares fell .33 percent after the closing bell. The company’s “inadvertent error” in a regulatory filing regarding CEO Scott Thompson’s educational qualifications has drawn the ire of activist hedge fund manager Daniel Loeb, giving him more grounds to attack Yahoo’s governance and, specifically, Thompson himself. In a letter to Yahoo’s board, Loeb wrote, “If Mr. Thompson embellished his academic credentials we think that it 1) undermines his credibility as a technology expert and 2) reflects poorly on the character of the CEO who has been tasked with leading Yahoo at this critical juncture. Now more than ever Yahoo investors need a trustworthy CEO.”
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Berkshire Hathaway Inc. (NYSE:BRKA) reported earnings of $1,615 per class A share, missing expectations of $1,780 per share. Meanwhile, revenue came in at $38.15 billion. The class A shares traded slightly higher, but the class B (NYSE:BRKB) shares fell .51 percent.
Apple Inc. (NASDAQ:AAPL) shares have struggled to find their footing this week. Shares of the tech giant fell almost 3 percent on Friday and almost 6 percent for the week. Since hitting its all-time high of $644, shares are down about 12 percent.
Shares of American International Group Inc. (NYSE:AIG) continued to drop 4.2 percent in late trading. The Treasury department announced a public offering of AIG common stock. The insurer announced it is committed to take $2 billion of the offering sold at the IPO price.
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