Facebook, LinkedIn: Tech Winners & Losers (Update 1)
Facebook will reportedly launch a job postings feature later this summer that will directly compete with LinkedIn. Facebook's press representative said the company does not "comment on rumor and speculation."
Research In Motion(RIMM) dropped 5.31% to $7.67 as investors await the annual shareholder meeting tomorrow. RIM's stock has slumped nearly 75% in the past year and dropped 16.45% after the company announced its first-quarter earnings at the end of June.
Shares of Ubiquiti rose 4.20% to $14.14.
Check Point(CHKP) fell Monday after RBC Capital Markets analyst Robert Brez affirmed outperform with a $65 target price, citing difficult economic environment for software companies in general.
Most software companies "have a lower pipeline today than going into the quarter, reflecting some pull-forward of deals, which could lead to a tough start to the September quarter," Breza wrote.
"The deal environment for most software companies was characterized by smaller deal sizes and lower close rates," he added.
Check Point's stock closed down 4.89% to $44.96 on 4.5 million shares, nearly double its average daily volume.
--Written by Nathalie Pierrepont in New York.