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Facebook, Inc. (NASDAQ:FB): Over the past year, Internet companies such as Groupon, Zynga, and Yelp have made public debuts. Facebook followed in May at $38 a share, which instantly gave the newly minted public company a valuation of approximately $105 billion. Since its IPO, Facebook has not closed above $38. The initial offering was widely viewed as a debacle both because of trading glitches and the need for underwriters to prop up the stock. The shares traded down $0.76 (3.81%) recently at $19.11.
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LinkedIn Corporation (NYSE:LNKD): Tightening its API, Twitter stopped the feature allowing LinkedIn users to publish tweets to their profiles. People will still have the ability to broadcast LinkedIn updates to Twitter, but it just will not work the other way around. The shares traded down $2.89 (2.78%) recently at $101.10.
Groupon, Inc. (NASDAQ:GRPN) shares hit record lows this morning, capping a difficult week for the daily-deals company as investor faith continues to be crushed. Shares have fallen 7.8 percent to $4.61 on heavy trading volume. Over 15 million shares traded in the first hour of Friday’s session, which is higher than an average trading day, reports FactSet. The shares traded down $0.41 (8.20%) recently at $4.59.
Pandora Media, Inc. (NYSE:P): The CD’s reign as the music industry’s biggest U.S. revenue source is expected to end this year, since it has been dwarfed by downloads and newer streaming services like Spotify and Pandora Media, according to a researcher. U.S. digital music sales should increase to $3.4 billion this year, exceeding the $3.38 billion in revenue from CDs and vinyl, Boston-based Strategy Analytics Inc. stated on its website. Worldwide, digital music is expected to surpass physical purchases in 2015, the company claimed. The shares traded down $0.23 (2.37%) recently at $9.48.
Zynga, Inc. (NASDAQ:ZNGA): Nokia (NYSE:NOK) announced that it will bring Zynga’s globally popular games, Draw Something and Zynga Poker, to Nokia Asha Touch devices during Q3 of 2012 as part of the partnership that was announced earlier this summer. Nokia Asha Touch users soon will be allowed to challenge their friends to a round of the popular social drawing and guessing game, or to play their own virtual poker match. Free downloads of both Zynga’s Draw Something and Zynga Poker will be available from Nokia Store. This announcement reinforces Nokia’s commitment to providing must-have app and gaming experiences to consumers of Nokia Series 40 devices, including the Nokia Asha Touch range. Nokia Asha Touch users are already offered a variety of mobile gaming experiences that are enabled by global partners such as EA (NASDAQ:ERTS), Gameloft, Rovio, NAMCO BANDAI, and now, Zynga. The shares traded up $0.01 (0.33%) recently at $3.01.
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