Zynga COO STRIPPED of Role and 4 Social Media Stocks Seeing Action
Facebook, Inc. (NASDAQ:FB): Several of Fidelity’s fund managers decided to shrink their stakes in Facebook, with 16 of them selling over a quarter of their stakes in the company during June, according to The Wall Street Journal, citing investment-research firm Morningstar. The shares traded down $0.99 (4.74%) recently at $19.89.
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LinkedIn Corporation (NYSE:LNKD) has been very successful in monetizing its fingerprint online and on mobile devices via two channels, subscription fees and advertising. The ability to monetize its presence keeps revenue coming into the company, and therefore, keeps the company’s valuation moving higher and higher. At this point, the question might be, where is the saturation point? When will LinkedIn reach a point where growth will be forced to slow down? At this point, it is not easy to decide, and this actually might assist Facebook, which is spending a ton of money on research and development as an attempt to find an effective way to monetize its ubiquity. It seems as if LinkedIn possesses a very high ceiling in this area, and it would make sense that Facebook should too, if it can only figure itself out. The shares traded down $3.52 (3.68%) recently at $92.12.
Groupon, Inc. (NASDAQ:GRPN) is now partnering with Finnish mobile handset maker Nokia, developing its real-time Groupon Now! offers into the Nokia Maps function on its Lumia smartphones. The shares traded down $0.10 (1.54%) recently at $6.38.
Zynga, Inc. (NASDAQ:ZNGA) Chief Operating Officer John Schappert was had his role taken; he was in charge of overseeing game development in a reorganization intended to revive growth and gain more money from mobile services, according to people familiar with the matter. David Ko, leader of Zynga’s mobile operations, and Steve Chiang, executive vice president of games — both of whom reported to Schappert — now report directly to Chief Executive Officer Mark Pincus, the social-gaming company said today, which confirms information from people who did not wish to be identified yesterday because the changes had not become public. The shares traded down $0.10 (3.56%) recently at $2.71.
Yelp, Inc. (NYSE:YELP) increase as much as 24 percent, to $23.47 a share after its late-Wednesday report. During the quarter, Yelp claimed that its expenses climbed to $34.6 million from $20.8 million a year ago while Yelp spent more to launch its review service in markets including Norway, Finland, Denmark, and Madison, Wisc. Now, the company is offering ratings and reviews in 90 markets worldwide. The shares traded up $3.03 (16.10%) recently at $21.85.
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