Pandora LOSES CFO and 4 Social Media Stocks Seeing Action
Facebook, Inc. (NASDAQ:FB): After the influential Piper Jaffray analyst Gene Munster wrote in a note to investors that negative sentiment towards the stock has probably peaked, Facebook Inc.’s (NASDAQ:FB) stock is advancing. Two items could improve the company’s press coverage, wrote Munster, adding that Facebook may be one of the best large tech stocks to own at this time. Specifically, the analyst believes that Facebook could get a boost from the release of a “Want” button , while improved mobile monetization trends should also give the company a lift. Although Facebook faces lockup expirations in November, which will enable insiders to sell their holdings in the company, history shows that such events have a limited impact on their stocks. The analyst maintained a $41 price target and Overweight rating on Facebook. In early trading, shares bucked the down market and rose 18c to $19.28. Their shares traded up $0.10 (0.52%), they were recently at $19.20.
LinkedIn Corporation (NYSE:LNKD): LinkedIn Corporation said Wednesday night that they have made a deal to lease a yet-to-be-built campus, in a major expansion for the social networking powerhouse, that could accommodate nearly 3,000 employees . In a new regulatory filing, LinkedIn said they anticipate moving into the new campus in July 2014. The company agreed to a lease that will extend into 2026. Their shares traded down $2.00 (1.83%), they were recently at $107.00.
Groupon, Inc. (NASDAQ:GRPN): Groupon’s stock has failed to move higher for a dozen consecutive trading sessions. The grim sum of all of those down ticks is that the dot-com dud has, in twelve market days, surrendered 43% of their value. Their shares traded down $0.06 (1.39%), they were recently at $4.25.
Pandora Media, Inc. (NYSE:P): Pandora disclosed that their Chief Financial Officer, Steven Cakebread, will be leaving the company later this year. Pandora and Cakebread made an agreement on August 29 in which Cakebread agreed to remain with the company through December 2012, if needed. This would help to ensure an orderly transition while the company searches for a new Chief Financial Officer. Their shares traded up $2.24 (22.22%), they were recently at $12.32.
Yelp, Inc. (NYSE:YELP): Yesterday, San Francisco-based Yelp climbed 23 percent to $22.37 at the close in New York. The stock has gained 49 percent since a March 1 initial public offering. Inside investors are eligible to sell about 53 million shares of the company 180 days after its IPO, a period that extended through Tuesday. The shares traded down $0.68 (3.04%) recently at $21.69.
Don’t Miss: Is YELP Escaping Facebook’s BLACKHOLE?
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