Groupon Sees App Use RISE and 4 Social Media Stocks Action
Facebook, Inc. (NASDAQ:FB): The Bingo Friendzy app, developed by London-based online gambling operator Gamesys, allows users aged 18 and up to play games to earn cash prizes. Facebook stated that only its UK members would have the ability to view the app. The website’s largest gaming partner, Zynga, said it also intends to introduce real-money gambling versions of its games next year. The shares traded down $0.58 (2.65%) recently at $21.34.
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LinkedIn Corporation (NYSE:LNKD): Although there are still strong fears concerning Internet companies reporting lower-than-expected top-line results ranging from e-commerce to online media companies, LinkedIn bucks the trend with impressive results for Q2. Even in a lukewarm hiring environment and European macro weakness, LinkedIn’s hiring solutions segment increased 107 percent year-over-year during Q2. In fact, more than 1,600 new corporate customers were added during the quarter, which was higher than our street-high 1,425 estimate. Hiring solutions revenue was rose 19 percent, with the proprietary tracker now making accurate predictions for growth rates for two consecutive quarters.The shares traded down $3.47 (3.11%) recently at $108.08.
Groupon, Inc. (NASDAQ:GRPN): According to a June 2012 survey among 5,000 Android and iPhone users in the U.S., Nielsen discovered that 47 percent of them have used a native shopping app on their phones. In June, the eBay (NASDAQ:EBAY) and Amazon (NASDAQ:AMZN) apps were on top of the list, bringing 13 million and 12 million unique users, respectively. Similarly, traditional retailers such as Target (NYSE:TGT) and Walgreens (NYSE:WAG) received significant mobile traffic from savvy shoppers trying to find the best deals in their local retail stores. Daily deal sites like Groupon (NASDAQ:GRPN) and LivingSocial saw more than 10 million Americans using their apps during June 2012. The shares traded down $0.16 (2.21%) recently at $7.09.
Zynga, Inc.’s (NASDAQ:ZNGA) share price is down almost 70 percent since it went public last December and, worse, its user base has decreased 16 percent year-over-year to 141 million players. Zynga, like several other tech companies, must deal with the challenge of transitioning to an increasingly mobile world. This is a challenge that, as The Wall Street Journal recently reported, the casual gaming developer is having trouble getting a handle on. The shares traded up $0.13 (4.42%) recently at $3.07.
Yelp, Inc. (NYSE:YELP) has had a standout start to the month of August, with the stock rising almost 32 percent in that time. This surge comes on the heels of last week’s quarterly results which were higher than expected, and it has totally erased the 18.8 percent deficit the equity that was tallied between March 5 and July 31. The security’s recent bout of positive price action has not gone unnoticed by option players.The shares traded up $0.08 (0.31%) recently at $25.51.
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