LinkedIn RELEASES Board Connect and 4 Social Media Stocks Action
Facebook, Inc. (NASDAQ:FB): After losing Facebook years ago, the Winklevoss twins have now begun planning a social network intended for professional investors, according to the Wall Street Journal. Tyler and Cameron Winklevoss are assisting fellow Harvard alumnus Divya Narendra, who was also their ally in the fight for Facebook, in a new investment website which is to be titled SumZero. The website was founded by Narendra and fellow Harvard alum Aalap Mahadevia. The shares traded down $0.40 (1.81%) recently at $21.60.
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LinkedIn Corporation (NYSE:LNKD) has announced Board Connect, which is intended to assist nonprofit leaders in easily identifying connections to possible board members. The shares traded down $2.20 (1.79%) recently at $121.03.
Groupon, Inc. (NASDAQ:GRPN) and LivingSocial are both currently looking to diversify beyond their core product, and market dynamics may influence them to move at a quick pace, reports Financial Times. BIA/Kelsey thinks that annual daily deals sales’ growth rates will drop drastically from 87 percent growth between 2011 and 2012 to 23 percent in 2013, and it will fall even further to mid-single-digit growth, according to the report. The shares traded down $0.38 (7.21%) recently at $4.89.
Pandora Media, Inc. (NYSE:P): Apparently, Apple (NASDAQ:AAPL) is making moves to compete with Pandora’s online radio streaming service. Upon hearing this news, Pandora investors weren’t happy with the thought of Apple entering their space, and shares dropped far more than 25 percent during the following three days of trading. The shares traded down $0.59 (5.20%) recently at $10.76.
Zynga, Inc. (NASDAQ:ZNGA): More than a month ago, Electronic Arts sued Zynga because of alleged copyright infringement. EA claims that Zynga had obviously copied multiple elements of The Sims Social in The Ville, which is one of Zynga’s most recent releases. Along with defending itself, Zynga has also retaliated by filing a counterclaim claiming that Electronic Arts has made attempts to prohibit Zynga from any “future hiring of EA employees.” Due to the high-profile move of John Schappert to Zynga, the company claims that EA tried to make it agree to a “no-hire agreement” between the two companies. The counterclaim states that “absent such agreement, Mr. Riccitiello would direct a lawsuit to be filed against Zynga ‘knowing there was no basis.’The shares traded down $0.08 (2.52%) recently at $3.10.
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