Facebook Takes Aim at LinkedIn and 4 Social Media Stocks See Action
Facebook, Inc. (NASDAQ:FB) insiders and early investors continue to contemplate if they should hold or keep their shares as they become eligible on Wednesday to sell 804 million shares, which nearly doubles the amount of the company’s stock that is up for trading on the public market. The lock-up period’s is scheduled to end on Wednesday, and it has the possibility of increasing pressure on Facebook stock.
LinkedIn Corporation (NYSE:LNKD): Wednesday’s launch of a jobs board application from the Social Jobs Partnership, which is a collaboration between Facebook, the Department of Labor, the National Association of Colleges and Employers, the DirectEmployers Association, and the National Association of State Workforce Agencies was directly aimed toward LinkedIn. The Social Jobs Partnership app has created one of the world’s largest jobs boards, providing Facebook users with access to over 1.7 million job listings via a single tool, from a select group of five developer partners: Work4Labs, Monster,BranchOut, Jobvite, and US.Jobs.
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Groupon, Inc. (NASDAQ:GRPN): Groupon Goods, which is the company’s online retailer offshoot, has been a successful endeavor. It makes up 11.4 percent of Groupon’s North American revenue, and will will be only slightly short of $195 million for the year. This indicates that Groupon would be interested in further transitioning into the online retail and eCommerce, according to Andrew Mason, Groupon’s chief executive officer, this is not true. During Groupon’s quarterly conference call last week, he said, “We built something that fits squarely into our core customer value proposition of the discovery of curated offers and carves out a unique space in the retail e-commerce sandbox…We neither need to nor do we want to try to out-Amazon Amazon. We’ll never be about comprehensive product selection, but our skills at curating unbeatable offers are clearly resonating with our customers.”
Pandora Media, Inc. (NYSE:P): Many artists have signed a letter that states that Pandora should not be allowed to “slash musicians’ pay.” MusicFIRST is an organization representing performers and their rights, along with music industry supporter SoundExchange, stated today that 125 artists, including Maroon 5, Missy Elliot, T.I., and the Zac Brown Band, signed with the title “A Musicians’ Perspective On Pandora,” criticizing the company trying to minimize its royalty payments. “Why is the company asking Congress once again to step in and gut the royalties that thousands of musicians rely upon?” the letter asked. “That’s not fair and that’s not how partners work together.”
Yelp, Inc. (NYSE:YELP) allows users to review businesses ranging from lounges to locksmiths, and it reported a record drop after its forecast of revenue that missed estimates amid slumping ad sales to national retailers. Q4 revenue is expected to be $40 million to $40.5 million, according to a statement made by Yelp yesterday. That’s is far lower than the analysts’s average estimate of $40.8 million, suggests data compiled by Bloomberg.
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