LinkedIn, Facebook, Activision: Tech Premarket
NEW YORK (TheStreet) -- LinkedIn(LNKD) was a big gainer in premarket trading after reporting strong second-quarter results and offering robust guidance on Thursday.
Shares of the professional social networker rose 10.32% to $103.16 on Friday as investors digested the numbers.
Facebook(FB) , which hit a new low on Thursday, crept up 1.55% to $20.35 before market open. Shares of the Menlo Park, Calif.-based firm dipped below $20 for the first time during Thursday trading and closed down 4.02%.
More Headlines
The social networker was also one of the most active premarket stocks on share volume of 304,226.
Oracle(ORCL) gained 0.33% to reach $30.02 following SAP's(SAP) agreement to pay the database giant $306 million in damages over copyright infringement allegations.
"SAP believes this case has gone on long enough," explained SAP, in a statement released late on Thursday. "Although we believe that $306M is more than the appropriate damages amount, we agreed to this in an effort to bring this case to a reasonable resolution."
Oracle, however, is now pushing to have an earlier verdict in the case reinstated. The Redwood Shores, Calif.-based firm won damages of $1.3 in the same case two years ago, although a judge subsequently threw out the jury award.
"Oracle's unanimous 2010 jury verdict awarding it $1.3 billion can now be immediately taken to the Ninth Circuit Court of Appeals," noted Oracle, in statement released late on Thursday.
Shares of video game specialist Activision Blizzard(ATVI) slipped 2.04% to $11.53 despite beating Wall Street's top- and bottom-line estimates in its second-quarter results on Thursday.
--Written by James Rogers in New York.
>To submit a news tip, send an email to: tips@thestreet.com.