Zynga Inc. (NASDAQ:ZNGA) did not live up to the hype. Unlike previous social networking IPOs like Groupon (NASDAQ:GRPN) and LinkedIn (NYSE:LNKD), Zynga fell 5 percent on its opening day, and continue to head lower in extended trading. Since 2010, eight-teen out of thirty internet social stocks are now trading below their IPO price.
Investing Insights: These Wall Street Analysts Hate Zynga Stock.
Shares of Cablevision Systems Corp. (NYSE:CVC) closed down more than 8% on Friday. The company was downgraded from buy to hold at ISI Group. The company also unexpectedly announced that its chief operating officer will be leaving the company.
Comcast Corp. (NASDAQ:CMCSA) is attracting attention after Chief Executive Brian Roberts agreed to pay a $500,000 civil penalty to settle charges relating to pre-merger reporting. In a statement, Comcast said: “Comcast and Mr. Roberts appreciate the acknowledgement by the Federal Trade Commission that this was a technical and inadvertent violation that was self reported, promptly corrected, and did not involve any financial gain to the company or to Mr. Roberts.”
Don’t Miss: Gold and Silver Close Friday Higher: SLV, GLD.
For the 28th consecutive year, AT&T Inc. (NYSE:T) raised its annual dividend. The company raised its quarterly payout to 44 cents, representing a penny increase. The company pays out $10 billion in annual dividend payments, making it the largest dividend company in the world. Wireless rival, Verizon (NYSE:VZ) also pays a large dividend.
Investing Insights: Goldman Sachs Loves These 9 Tech Stocks.