Facebook Updates iOS App and 3 Social Media Stocks Seeing Action

Facebook, Inc. (NASDAQ:FB): Current Price: $31.28

Yesterday, Facebook updated its iOS app to version 5.4, providing its users with a few new features and may possibly be of the most complex and layered mobile apps. This update brings allows users to share voice messages, similar to iOS’s Voice Memos, which allows users to record a message and send it through the app to friends. Furthermore, the update allows users to record and share video from right within the app.

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Groupon, Inc. (NASDAQ:GRPN): Current Price: $5.25

Milberg LLP has announced that a class action lawsuit was filed in the United States District Court for the Northern District of Illinois on behalf of those who purchased Groupon, Inc. common stock between May 14, 2012 and November 8, 2012, inclusive (the “Class Period”).

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Pandora Media, Inc. (NYSE:P): Current Price: $11.29

Pandora has been downgraded by Wedbush from Outperform to Neutral, but the firm has raised its price target from $10 to $11.50, citing valuation.

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Zynga, Inc. (NASDAQ:ZNGA): Current Price: $2.63

On Monday, Zynga Inc saw a 14 percent rise as investors gained confidence that the company behind “FarmVille” and “Mafia Wars” will deliver a solid set of quarterly results next week.

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