4 Stocks LIGHTING UP Radar Screens: Facebook Posts First Weekly Gain, Zynga Surges 10%
Facebook (NASDAQ:FB) shares edged slightly lower after the closing bell, but managed to close 6 percent higher during regular trading. This was the first week that the social-media giant posted a gain. Facebook is expected to place some blame on Nasdaq OMX (NASDAQ:NDAQ) for its botched IPO as its files a motion to consolidate all the shareholder lawsuits against the social network, the New York Times recently reported.
Zynga Inc. (NASDAQ:ZNGA) shares surged more than 10 percent on Friday. The social-gaming company is well below its highs of the year, but Heath Terry from Goldman Sachs (NYSE:GS) reiterated his Buy rating on shares, saying the recent reports of declining daily users at Zynga do not reflect its growth prospects. Terry has a price target of $13 per share.
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Microsoft Corp. (NASDAQ:MSFT) gained 2.3 percent today to climb above $30 a share. Sources tell AllThingsD that the tech company will unveil plans to make its own Windows 8 tablets at an L.A. event on Monday. AllThingsD says, “Sources say that Microsoft concluded that it needs its own tablet, with the company designing both the hardware and software in an effort to better compete against Apple’s (NASDAQ:AAPL) strengths. Microsoft’s tablets may include machines running ARM-based processors as well as models running on traditional PC processors, sources said.”
AOL Inc. (NYSE:AOL) revealed it is shutting down its resume-posting site Emurse, due to its poor performance against heavy hitter LinkedIn Corp. (NYSE:LNKD). AOL purchased the site in 2009, but posted the following message on Friday: “The Emurse website will be sunset on July 15, 2012. Please make sure to retrieve any resumes or data from the site no later than July 15, 2012.”
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