Yelp UNVEILS New iOS App and 4 Social Media Stocks Seeing Action

Facebook, Inc. (NASDAQ:FB) shares fell over 6 percent Thursday morning before the social network’s first earnings report as a public company, mainly due to concerns regarding Zynga’s disappointing results. The shares traded down $2.84 (10.60%) recently at $24.84.

Don’t Miss: SOCIAL MEDIA: $1 Trillion Value Added or Tech Bubble 2.0?

Groupon, Inc. (NASDAQ:GRPN) shares fall over 6 percent reaching a new all-time low of $6.67 by Thursday afternoon. The shares traded up $0.59 (8.93%) recently at $7.20.

Pandora Media, Inc. (NYSE:P) shares and Groupon (GRPN) have taken huge hits, dropping nearly 40 percent and 70 percent since their IPOs.  The shares traded up $0.32 (3.42%) recently at $9.68.

Zynga, Inc. (NASDAQ:ZNGA) both lost money and gained less revenue than predicted for Q2 because “CityVille,” ”FarmVille” and other games have not been attracting as many paying players as they expected. Its stock dropped during after-hours trading and pulled Facebook shares too since the social networking icon uses Zynga for a large chunk of its revenue, which was 12 percent last year. The news surfaces just as Facebook prepares to report quarterly earnings on Thursday, which will be its first as a public company. The shares traded down $0.04 (1.28%) recently at $3.13.

Yelp, Inc. (NYSE:YELP): iPhone and iPad users tapping into Yelp see a number of enhancements in the newest version. Revealed yesterday, version 6 of the review site’s iOS app was revamped on its business pages. If one clicks on the name of a business the individual will see the location, contact info, photos, reviews, and tips all on a single screen. The shares traded down $0.03 (0.15%) recently at $19.65.

Don’t Miss: Jim Cramer: You Must Be CRAZY If You’re Selling Apple.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.