Facebook REBUILDS iPhone App and 4 Social Media Stocks In Action

Facebook, Inc. (NASDAQ:FB) has totally rebuilt its iPhone app, making it much faster at loading status updates and scrolling through news feeds. On the other hand, Android users will be forced to wait for a better Facebook experience. The shares traded down $0.04 (0.21%) recently at $19.40.

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LinkedIn Corporation (NYSE:LNKD): After an earlier story reporting changes to profile pages on LinkedIn, the company contacted the Los Angeles Times on Monday afternoon with a statement saying, “We are focused on making it easier for LinkedIn members to get more value out of the services we offer by creating simpler, more relevant, more social experiences,” a company spokeswoman stated in the email. “This new look and feel to the profile is the first step of many more exciting changes to come to the LinkedIn profile later this year.” The shares traded down $0.44 (0.42%) recently at $104.98.

Groupon, Inc. (NASDAQ:GRPN): Lee Brown, the head of national sales at Groupon, will resign, according to Reuters, citing an internal memo. Brown is to be replaced by Raj Ruparell. The shares traded down $0.05 (1.22%) recently at $4.46.

Pandora Media, Inc. (NYSE:P) spoke out on Wednesday against Representative Jerrold Nadler’s (D-N.Y.) draft legislation regarding music royalties, stating that discriminates against new technology and inhibits innovation. The Web company supports a competing draft bill by Rep. Jason Chaffetz (R-Utah), which directed toward lowering the royalty fees Internet radio services are forced to pay so they are level with the royalty rates paid by cable and satellite radio. Chaffetz’s legislation would force Internet radio to pay the same royalty-setting standard as cable and satellite radio services, or the 801(NYSE:B) standard of the Copyright Act. The shares traded down $0.15 (1.47%) recently at $9.70.

Zynga, Inc. (NASDAQ:ZNGA): In New York this week, U.S. District Judge Jack Weinstein decided that skill plays the bigger role in deciding the winner of a poker game, in a ruling which may strengthen the hand of the companies attempting to get online poker legalized in the U.S., reports the Wall Street Journal. The shares traded down $0.06 (1.85%) recently at $3.19.

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