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Facebook, Inc. (NASDAQ:FB): The ads Facebook users see in the right-hand column of their pages have been contributing to the growth of Nanigans, which offers a web-based service assisting advertisers gaining the most value from the money they spend on the social network. And next week, the startup will move into a new space at 60 State Street allowing it to grow from 75 employees presently to almost 200. ”We got a great deal on a two-year sublease, and while we looked at other areas, it seems like you can get the best deals in the Financial District right now,” stated CEO Ric Calvillo. The new space is 12,500 square feet, and it is possible to add an additional 7,000. Currently, the company is just a few blocks away, on Temple Street overlooking the Boston Common.
LinkedIn Corporation (NYSE:LNKD), which is the biggest professional-networking website, dropped the most in its history during the recent three months amid a decline in other Web companies, and Monster Worldwide Inc.’s Q3 revenue report were below estimates. LinkedIn’s high valuation and its tendency to swing more widely than the broader market could have caused the decline, stated Bill Sutherland, who is an analyst at Northland Securities Inc.
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Pandora Media, Inc.’s (NYSE:P) user base has grown almost perpetually since its inception. Additionally, the company has been struggling to implement a model for long-term profitability, as advertising revenue (accounting for about 88 percent of their total revenue) cannot reliably cover costs, including payments to SoundExchange and organizations such as the American Society of Composers, Authors and Publishers (ASCAP), which collects licensing fees for its members. Also, the money that Pandora is required to pay in “compulsory” licensing fees rises as the amount of listener hours increases. This makes is seem as if the company is digging itself in even more of a hole as it becomes more “successful,” unless they are able to hire the Gandalf of finances and accounting to come in and figure something out. Forbes notes that, “Pandora, in fact, has never been profitable, with more than $105 million in losses over the five fiscal years ending January of 2012… it has a business model that is fundamentally broken right now.”
Zynga, Inc. (NASDAQ:ZNGA) sales saw a drop for its eleventh straight month during October, as its total industry sales dropped 25 percent from the previous year, according to a report by The Verge last night, citing data from NPD Group. Industry retail sales were at $755.5 million, with console sales dropping 37 percent to $187.3 million. Software sales fell 25 percent to $432.6 million and accessories sales rose 5 percent reaching $135.6 million.
Yelp, Inc. (NYSE:YELP) and Village Voice Media (VVM) came to an agreement regarding alleged trademark infringement. This comes less than a month after VVM filed a complaint against Yelp about using the term the “Best of” phrase in various cities, Yelp agreed to cease use of the trademarks. VVM stated that Yelp will no longer say “Best of New York,” for example. Instead of reverting back to what it previously used: “Best of Yelp: [City Name].” The “Best of” trademarks will become the property of Voice Media Group, which purchased VVM’s publication assets during September.
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