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Social Stocks Highlights, Facebook Inc, Zynga Inc, Yelp Inc, Groupon Inc

It’s been reported that the second-largest U.S. advertising company, Interpublic Group of Cos. has won dismissal of a suit by a former executive demanding $381 million for his alleged role in company’s gains from the sale of Facebook Inc (NASDAQ:FB) stock.

The New York state Supreme Court Justice Eileen Bransten threw out the lawsuit in a ruling dated Aug. 2 and made it public yesterday by saying that any oral contract between the executive, Ray Volpe, and Interpublic granting him profits over the sale of the Facebook Inc investment was superseded by Volpe’s final employment agreement.

The executive, Ray Volpe, who has served as first commissioner of the LPGA women’s professional golf tour from 1975 to 1982, accused the Interpublic in a lawsuit filed in July 2012 of rejecting to compensate him even though he had sourced and procured the Facebook investment. Facebook Inc (NASDAQ:FB) shares down -2.19% to $38.33 in current session with current trading volume of 38.90million shares.

Zynga Inc (NASDAQ:ZNGA) stock has tumbled due to many blunders over the past few years, but few will likely haunt them as much as their $200M purchase of OMGPOP. Znga Ins had bought the Draw Something studio literally days before the popular app hit its peak, and it soon lost millions of DAUs. Company was stuck with a studio they didn’t know what to do with and after the recent restructuring within the company; they also killed the division entirely. According to sources speaking to TechCrunch, before the shutdown, the OMGPOP employees were negotiating to buy back, its games and IPs from Zynga. As they wanted anything Zynga would release to them, with some employees even volunteering to maintain the site for free. Zynga Inc (NASDAQ:ZNGA) shares fell -0.68% to $2.91 in current session with current trading volume of 7.54 million shares.

The company that connects consumers with great local businesses, Yelp Inc (NYSE:YELP) today announced that its management will present at the Oppenheimer Technology, Internet Communications Conference in Boston, MA at 1:45 p.m. ET. on Wednesday, August 14, 2013.MKM Partners has lifted its price target for Yelp (NYSE:YELP) stock  to $71, citing higher margin assumptions, while keeping a Buy rating on the company, and said it sees no reason to sell the stock following the recent rally. Yelp Inc shares decreased -3.76% to $51.99 in current session with current trading volume of 2.03 million shares.

An analyst Arvind Bhatia at Sterne Agee says in his second quarter earnings preview that Groupon Inc (NASDAQ:GRPN) stock is being underestimated by investors as it has room to grow particularly in mobile,

Arvind Bhatia has increased price target on GRPN shares to $12 from $9. The daily deals company set to report its second quarter earnings after the close Wednesday. The expectations of analysts on revenue of $605 million and non-GAAP operating income of $35 million. Bhatia expects $602 million and $35 million, respectively. Bhatia is looking for billings to accelerate in the second quarter to an increase of 9% year-over-year, compared to 4% in the first quarter. He expects North America to drive billings, increasing 21%, with international down 1%. For revenue, Bhatia expects a 6% increase from the year-ago period, with North America up 28% and international down 13%. Groupon has been struggling in its international markets. Groupon Inc (NASDAQ:GRPN) shares plunged -2.34% to $8.75 in current session with current trading volume of 8.89 million shares.


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Mystic Maggie

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