7 Late Radar Movers: Diamond Foods Halted, LinkedIn Receives Upgrade and Starbucks Announces New Drink

Although shares closed 2.4 percent higher in regular trading, shares of Diamond Foods Inc. (NASDAQ:DMND) dropped more than 3 percent in late trading, after being halted.  The company announced it will suspend its dividend after reaching an agreement with its lenders.  The snack company is being probed by regulators due to improper accounting methods.

After closing 6.4 percent higher, shares of LinkedIn Corp. (NYSE:LNKD) edged slightly lower in extended trading hours.  The internet company received an upgrade from Goldman Sachs (NYSE:GS).  Analyst Heath Terry raised his rating on shares from neutral to buy.

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Shares of Zynga Inc. (NASDAQ:ZNGA) edged slightly lower after the closing bell.  The social game company said it has reach a deal to purchase OMGPOP, the maker behind “Draw Something” mobile and social game.

Starbucks Corp. (NASDAQ:SBUX) shares declined .32 percent in late Wednesday trading.  The coffee giant announced a new beverage for the $8 billion energy drink market.  Starbucks Refreshers will aim to satisfy taste buds by combining real fruit juice and green coffee extract.  Shares of Monster Beverage Corp. (NASDAQ:MNST) also declined on the news.

Discover Financial Services (NYSE:DFS) dropped 1.74 percent after announcing first-quarter financial results.  The company said profit increased to $631 million ($1.18 per share), compared to $465 million (84 cents per share) a year earlier.

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To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com