Late Movers: Facebook SINKS, Amazon and Apple Climb Higher

Facebook (NASDAQ:FB) shares continued to edge lower in late afternoon hours, after closing 11.7 percent in red on Friday. Facebook reported its earnings late Thursday. The company posted a net loss of $157 million, compared to a net gain of $240 million a year earlier. Facebook finished the quarter with 955 million monthly active users, but that has not translated into gains for retail investors. During regular trading, shares hit as low as $22.28 before finding support. LinkedIn (NYSE:LNKD) shares also edged lower in extended hours.

Amazon (NASDAQ:AMZN) shares closed nearly 8 percent higher on Friday and continued to attract attention in late trading. The world’s largest online retailer reported a 96.3 percent plunge in net income for the second quarter, but investors continue to focus on revenue and the future. Revenue jumped 29.4 percent to $12.83 billion. “Amazon Prime is now the best bargain in the history of shopping – that is not hyperbole,” said Jeff Bezos, founder and CEO of Amazon.com.

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Shares of Apple (NASDAQ:AAPL) finished the trading session 1.79 percent higher. A London court today granted the tech giant’s proposal to postpone a controversial order given earlier this month that would require the company to post a public notice on its U.K. website as well as several British newspapers relaying the court’s ruling that Samsung’s Galaxy tablets do not infringe on the iPad’s design patents. The reprieve will remain in effect until October, when Apple will have a chance to appeal the decision in a British courtroom.

Expedia (NASDAQ:EXPE) shares climbed 0.20 percent higher in late trading, after closing 20 percent higher in regular trading. The company recently reported a 13.8 percent jump in revenue to $1.04 billion in the second quarter. Net income declined to $105.2 million ($1.01 per share), but still beat the mean analyst estimate of 62 cents per share.

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