Facebook Shares Boosted by Analyst and 4 Social Media Stocks Seeing Action
Facebook, Inc. (NASDAQ:FB) shares saw a big boost on Wednesday morning due to J.P. Morgan analyst Doug Anmuth’s claim in a research note that he is “incrementally positive” regarding the company’s shares heading into 2013. Mainly, Anmiuth has claimed that it is “very early in the trajectory of Facebook’s mobile advertising,” and that “marketer feedback on mobile and news feeds ads has been positive.”
LinkedIn Corporation (NYSE:LNKD): This morning, Barclays Capital analyst Mark May decided to reduce his rating on LinkedIn shares to Equal Weight from Overweight via a valuation call. The analyst has kept his target price on the stock at $125, and it closed 2012 at $114.03.
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Groupon, Inc. (NASDAQ:GRPN): According to the company, it has every intention to purchase online retail manager CommerceInterface for an undisclosed amount. Groupon has mentioned that the acquisition of the company should assist it in the management of Groupon Goods, which is an e-commerce business selling products from thousands of vendors. CommerceInterface is to cease working with other customers that will transition to another service over the next six months.
Pandora Media, Inc. (NYSE:P) has announced that Chief Executive Joseph Kennedy will be responsible for principal financial officer responsibilities on an interim basis that will begin on January 1. Last summer, CFO Steven Cakebread stated his intentions to resign from his position at the end of the year. Pandora plans to name a new permanent finance chief at the beginning of the next fiscal year in February, according to an 8-K. Cakebread saw compensation during fiscal 2012 that reached almost $446,400, according to a proxy filing.
Zynga, Inc. (NASDAQ:ZNGA) is hoping that the new year will bring a new start, since the company’s stock prices saw a sharp decline since its 2011 IPO Major changes ranging from layoffs to office closures have already begun, and now possibly the most drastic measure has been announced. Zynga has decided to cut 11 of their least profitable titles.
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