Zynga Inc (NASDAQ: ZNGA) shares gained 4.15% to $2.51 in the morning hour. The company, last week, confirmed that it has carried out 11 of the planned shutdowns of 13 game titles, with "Petville" being the latest game on which it pulled the plug. The company in October said it would shut down 13 underperforming titles after warning that its revenues were slowing as gamers fled from its once-popular titles published on the Facebook platform in large numbers and sharply revised its full-year outlook.
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Groupon Inc (NASDAQ: GRPN) stock increased 2.64% to $5.25. Last week, Robbins Umeda LLP is investigating whether officers and directors of Groupon breached their fiduciary duties to shareholders by concealing the fact that the company's business was not growing to the extent represented publically. As a result, Groupon's stock traded at artificially inflated prices, reaching a high of $13.05 per share on May 16, 2012.
Yelp Inc (NYSE: YELP) stock jumped 0.55% to $20.26. The company announced that management will present at the Citi Global Internet, Media & Telecommunications Conference in Las Vegas, NV on Tuesday, January 8, 2013 at 10:30 a.m. PT. A webcast of the presentation will be available on the company's investor relations website.
Baidu.com, Inc. (ADR) (NASDAQ: BIDU) shares dropped 1.71% to $103.19 in the early hour. The 52 week trading range for the company is $85.96 - $154.15. The shares of the company fell 15% in the last one year. The company operates as a Chinese language Internet search provider for web pages, audio files, news, images and multimedia through links provided on their website.
Linkedin Corporation (NYSE: LNKD) shares increased 0.36% to $112.86 in the morning hour. Barclays analyst downgraded the professional networking service saying its stock price has enjoyed a good run but may now be too high. The stock has significantly outperformed both the market and peers over the past 12 months and the analysts remain positive on both the short-term (fourth-quarter) as well as the long-term outlook.
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