Facebook & Zynga Follow Groupon Downwards, Blackstone Divests Deutsche Telekom: Tech Biz Wrap
Shares of Facebook (NASDAQ:FB) and Zynga (NASDAQ:ZNGA) are down following Groupon’s (NASDAQ:GRPN) third quarter bust. Not helping one iota is a Nielsen report which calculated that the average time per month spent on Facebook’s PC site by domestic users dropped by 29 minutes from March to September, down to 6:40:32, while mobile usage increases. The report supports the numbers reported by comScore as well. Facebook shares are down 9 percent since a lockup expired on October 29th, and a much larger lockup expiration comes on Wednesday. Meanwhile, Groupon has lost just under 30 percent by late afternoon.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
The Blackstone Group (NYSE:BX) reduces its interest in Deutsche Telekom (DTEGY.PK) by about a third to 2.93 percent. The former netted approximately $713 million on the divestiture, compared to the $1.12 billion the shares were worth when they were acquired back in 2006. The government of Germany is still Deutsche’s biggest shareholder with direct and indirect holdings amounting to a 32 percent interest.