Facebook’s Mobile Focus and 3 Social Media Spotlight Stocks
Facebook, Inc. (NASDAQ:FB) is embarking on a company wide move to a “mobile first” approach, according to AllThingsD. Based on reports from three people close to the project, Facebook is planning to refresh its iOS app, which ought to allow for quicker response times.
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LinkedIn Corporation (NYSE:LNKD) is more and more on the hackathon scene, and its third hack day event over last weekend, DevelopHer 2012, was geared entirely toward female developers. Jim Brikman, a LinkedIn software engineer who oversees all the site’s hack days, noted that event planners saw a trend of women being underrepresented at most hackathons and similar engineering events. LinkedIn shares traded up $0.91 (0.85%) recently at $108.54.
Groupon, Inc. (NASDAQ:GRPN) Chairman Eric Lefkofsky wrote a blog post announcing his separation from day-to-day work with the business to focus more on his venture capital firm. He wrote: “I look forward to continuing to work with in my ongoing role as Chairman of the Board, but in the meantime, I’ve immersed myself in Lightbank.” Shares of Groupon traded down $0.72 (7.57%) recently at $8.79.
Pandora Media, Inc. (NYSE:P): Aaron Kessler of Raymond James earlier today elevated his rating on shares of Internet radio retailer Pandora Media to Outperform from Market Perform, with a $14 price target, stating that his review of 422 Internet users demonstrated Pandora is “well positioned competitively, #2 only behind Apple’s (NASDAQ:AAPL) iTunes.” Pandora shares traded down $0.06 (0.56%) recently at $10.64.
Zynga, Inc. (NASDAQ:ZNGA): NPD data demonstrates that digital video game sales were up 10 percent from last year in the first quarter of the year, but revenues from sales of gaming hardware and accessories and from renting games and retailing used games were all down, according to the Los Angeles Times. Shares of Zynga traded down 2.96% ($0.16) recently at $5.40.
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