Editor’s Note: Related tickers: Facebook Inc (NASDAQ:FB), LinkedIn Corp (NYSE:LNKD), Yahoo! Inc. (NASDAQ:YHOO), Yelp Inc (NYSE:YELP), Wal-Mart Stores, Inc. (NYSE:WMT), AT&T Inc. (NYSE:T), Groupon Inc (NASDAQ:GRPN), American Express Company (NYSE:AXP), Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG)
Facebook Inc (NASDAQ:FB) is considering launching legal action against a small Dubai hairdressers – that is named Facelook. Not only does the name resemble the social network giant’s but its logo is also strikingly similar. The men’s salon has simple white lettering on a blue background, just like the iconic branding of Facebook Inc (NASDAQ:FB). Now the company, which is based in California, said it is investigating whether the hairdressers has breached its intellectual property rights. However the owner of Facelook, based in Discovery Gardens, said any similarity was a coincidence.
Ban kids below 13 years, court tells Facebook (NewsTrackIndia)
The Delhi High Court Tuesday asked social networking site Facebook Inc (NASDAQ:FB) to upload a disclaimer on its home page that children below the age of 13 years cannot open an account on it. A division bench of Acting Chief Justice B.D. Ahmed and Justice Vibhu Bakhru asked Facebook to not allow children under 13 years from opening an account. Senior advocate Parag Tripathi appearing for Facebook Inc (NASDAQ:FB) assured the court that the site “will upload the disclaimer on its home page that children 13 years can not open the account”. “You (Facebook) can write on the home page in bold letters that children below 13 are not allowed. There is no harm in doing this…,” the court said.
The Money Making Side of Facebook (LowCards)
Facebook Inc (NASDAQ:FB) may be free to use, but that doesn’t mean it’s not a money making machine. A new infographic from GreatBusinessSchools.org reveals where this money is coming from, totaling over $1.5 billion per quarter in advertising alone. Facebook accounted for 6.5% of all online advertising dollars spent in the United States in 2012. Gaming ads have been the most popular revenue sources for Facebook Inc (NASDAQ:FB), with Zynga and EA representing the top two advertisers on the site. Wal-Mart Stores, Inc. (NYSE:WMT), AT&T Inc. (NYSE:T), Groupon Inc (NASDAQ:GRPN) and American Express Company (NYSE:AXP) are all part of the top 10, and the financial services sector makes up 50% of Facebook Inc (NASDAQ:FB)’s ad revenue.
LinkedIn, not Apple, takes big Peery-Arrillaga lease in Sunnyvale (BizJournals)
Remember last year, when we told you that Apple Inc. (NASDAQ:AAPL) was going into the 125,000-square-foot office building that Peery-Arrillaga was building on the former US Post Office in Sunnyvale? Well, here’s an update. The actual tenant? It’s not Apple Inc. (NASDAQ:AAPL). It’s LinkedIn Corp (NYSE:LNKD). Sources with direct knowledge of the deal say the business-networking juggernaut has signed a long-term lease with Palo Alto-based Peery-Arrillaga for the building at 580 N. Mary Ave., which is deep into construction. The transaction is also listed as one of the top lease deals of the second quarter in the latest brokerage report from Cornish & Carey Commercial Newmark Knight Frank.
SunTrust Initiates Coverage on LinkedIn Corp. (LNKD) (Zolmax)
Equities researchers at SunTrust assumed coverage on shares of LinkedIn Corp (NYSE:LNKD) in a research report issued on Monday, AnalystRatings.Net reports. The firm set a “neutral” rating on the stock. The analysts wrote, “We are initiating coverage of LinkedIn Corp (NYSE:LNKD) with a Neutral rating and a $215 2014 year end price target. Our target is derived around a central tendency of value methodology that analyzes SaaS historical multiples as well as current and applied forward multiples of 35x EV/EBITDA, 60x P/E, 60x P/FCF, and 9.5x EV/Revenues.
Magnetic Mayer Rejuvenates Yahoo (CIO-Today)
Not much had been going right for Yahoo! Inc. (NASDAQ:YHOO) until it lured Marissa Mayer away from Google Inc (NASDAQ:GOOG) to become its CEO last summer. The move is shaping up as the best thing to happen to Yahoo since 2005 when it invested $1 billion in what was then a little-known Internet company in China, Alibaba. Mayer’s magnetism and Alibaba’s prosperity are now combining to transform Yahoo! Inc. (NASDAQ:YHOO) from a tale of woe into a comeback story that is winning over Silicon Valley and Wall Street. People are spending more time on Yahoo’s flagship website. Talented engineers and entrepreneurs are coming to work for the company.
Yahoo to report 2Q results (GulfNews)
Sunnyvale, California: Yahoo! Inc. (NASDAQ:YHOO) CEO Marissa Mayer will have a chance to review her accomplishments during her first year on the job with the release of the Internet company’s second-quarter earnings. The report, due out Tuesday after the stock market closes, is expected to show Yahoo! Inc. (NASDAQ:YHOO) is still struggling to boost its revenue even as more advertising shifts to the Internet. More of that marketing money has been flowing to Google Inc (NASDAQ:GOOG) and Facebook Inc (NASDAQ:FB), instead of Yahoo. Since Mayer’s hiring a year ago on Tuesday, Yahoo! Inc. (NASDAQ:YHOO) has redesigned several key Internet services and started to spruce up its applications for mobile devices.
Yelp Coverage Initiated at Needham & Company (YELP) (UtahPeoplesPost)
Needham & Company started coverage on shares of Yelp Inc (NYSE:YELP) in a research report sent to investors on Friday morning, TheFlyOnTheWall.com reports. The firm issued a buy rating on the stock. The analysts noted that the move was a valuation call. A number of other firms have also recently commented on Yelp Inc (NYSE:YELP). Analysts at Citigroup Inc. initiated coverage on shares of Yelp in a research note to investors on Tuesday, July 9th. They set a neutral rating and a $35.00 price target on the stock. Separately, analysts at Pacific Crest initiated coverage on shares of Yelp Inc (NYSE:YELP) in a research note to investors on Tuesday, July 2nd. They set an outperform rating on the stock.
Yelp shares downgraded following strong run (BusinessWeek)
A UBS analyst downgraded shares of Yelp Inc (NYSE:YELP) on Monday after the business review site’s shares have climbed more than 50 percent since the beginning of May. …Analyst Eric Sheridan downgraded the stock to “Neutral” from “Buy,” and raised his price target to $40 per share from $32. Sheridan has a positive view of the company and raised his 2014 revenue estimate to $340 million from $322 million, but said the company’s stock is trading at a fair price. “We continue to believe that Yelp Inc (NYSE:YELP) is one of the best positioned businesses within our coverage universe in terms of key secular themes,” he said.
