YELP PROVIDING Competition for Groupon and 4 Social Media Stocks Seeing Action
Facebook, Inc. (NASDAQ:FB) is altering how content appears on the site, the company reported Wednesday. It is supplying users with tools to better relay their feelings and manage conflicts themselves. These come after working with Yale, Columbia and Berkeley on months of research and focus groups with kids, teachers, and psychologists. Shares of Facebook traded down $0.02 (0.06%) lately at $30.95.
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LinkedIn Corporation (NYSE:LNKD): Next Web is reporting that LinkedIn’s SlideShare is being blocked in China. Shares of the networking site traded up $2.03 (2.01%) recently at $103.11. According to Susquehanna, analysis of its membership tracker demonstrates persistent solid execution for LinkedIn in Q2. The firm rates shares Positive, with a $140 price target.
Groupon, Inc. (NASDAQ:GRPN) is still suffering in July, with shares now 28% down from the month’s start. Concerns regarding leadership, marketing spending and Euro exposure all appear to be causing damage prior to the company’s Q2 report, which ought to appear near July’s end. Shares of Groupon traded down $0.01 (0.13%) recently at $7.76.
Zynga, Inc. (NASDAQ:ZNGA) shares are trading down today following a cautionary research note issued in the morning by Pacific Crest analyst Evan Wilson. Wilson writes that in Q2 there was a quicker-than-planned downturn to Draw Something and other of the company’s older titles. Due to this, Wilson cut his bookings estimates from $345M to $335M and his forecast for daily active users to 70M from 74.3M. Shares of Zynga traded down $0.11 (2.22%) recently at $4.845.
Yelp, Inc. (NYSE:YELP): Groupon, the largest online coupon company, dropped to its lowest price since its IPO in November due to worries regarding its ability to benefit from daily deals. The company’s stock fell 5.7% to $7.33 at 10.01 a.m. EST, following earlier falls by as much as 6.7% to $7.25. Yesterday, however, shares of the Chicago-based site had lowered 61% since they began trading. Groupon’s business model of selling discounts online from retail and service businesses is facing competition from Google, Amazon.com and Yelp. Shares of Yelp traded up $0.18 (0.84%) recently at $21.54.
Don’t Miss: Freefalling Groupon Hits ALL-TIME LOW.
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