Editor’s Note: Related tickers: Facebook Inc (NASDAQ:FB), LinkedIn Corp (NYSE:LNKD), Yelp Inc (NYSE:YELP), Yahoo! Inc. (NASDAQ:YHOO), Nokia Corporation (ADR) (NYSE:NOK)
Facebook above IPO price (CourierMail)
Facebook Inc (NASDAQ:FB) got as high as $US38.31 on Wednesday shortly after the market opened, before retreating. Shares recently traded at $US37.72, up 10 cents or 0.3 per cent. The company’s IPO was priced at $US38 a share. Facebook Inc (NASDAQ:FB) has only closed above $US38 one time: its first day on the markets. Facebook Inc (NASDAQ:FB) has been on an upward tear since releasing earnings a week ago that showed a big jump in mobile advertising revenue. Shares have rallied more than 40 per cent since the earnings release.
While social media can be a volatile business, there seems to be no interruption to social star LinkedIn Corp (NYSE:LNKD)‘s growth. …Of course, that also means there is a sky-high bar for upcoming LinkedIn Corp (NYSE:LNKD) earnings. LinkedIn Corp (NYSE:LNKD) reports Thursday after the bell, and the consensus is for revenues to climb by 55% to $354 million and for earnings to nearly double to 31 cents a share. Still, it’s important to consider that calling LinkedIn Corp (NYSE:LNKD) a social business — which is subject to the fickleness of users — is a bit misleading.
Yikes! Yelp comments can by libelous, says court (CentralValleyBusinessTimes)
Posting a sharply critical review on the Internet site Yelp Inc (NYSE:YELP) doesn’t automatically mean it’s merely opinion and thus shielded from a libel action, the California 1st District Court of Appeal says. “While many Internet critiques are nothing more than ranting opinions that cannot be taken seriously, Internet commentary does not ipso facto get a free pass under defamation law,” the court says in a San Francisco case. …Mr. Bently complained and Yelp Inc (NYSE:YELP) took down the reviews as Mr. Papalioslios posted them but one version of the review remained and Mr. Bently took further umbrage and sued for libel.
The Facebook of Sports? Yes, Actually (Forbes)
Part of Yahoo! Inc. (NASDAQ:YHOO)’s success in the late 1990s and early 2000s came from its breadth and its ability to fill product voids with its engineering team. Yahoo! Inc. (NASDAQ:YHOO) parlayed its status as a hub destination on the web into market-leading positions in search, email, news, fantasy sports, instant messaging, personal websites and even classified ads. But as websites specializing in each of these domains gained momentum, Yahoo! Inc. (NASDAQ:YHOO)’s offerings fell behind. Its polyglot approach faltered.
LinkedIn takes notes from Facebook, gets more social (BizJournals)
LinkedIn Corp (NYSE:LNKD) wants to be more than just the site you check for job postings. It’s hoping you’ll want to not only hear from people like President Obama and Bill Gates, but comment and discuss what they write. …Those changes, LinkedIn Corp (NYSE:LNKD) hopes, will increase networking and drive more traffic to its site. In its most recent quarterly earnings, the Mountain View company said it had 225 million users but showed slowing revenue growth, so stickiness would certainly help.
