Facebook met analysts' top- and bottom-line estimates, although decelerating revenue growth and lack of guidance weighed heavily on the stock before market open. Shares of the Menlo Park, Calif.-based firm plunged 13.24% to $23.29 as investors digested the second-quarter numbers.
Despite rumors that he would be a no-show, Facebook CEO Mark Zuckerberg was present throughout the company's conference call. Facebook's top priority, he explained, is a sustained focus on mobile, platform and social ads. "We have a lot of interesting things going on here," he said.
Facebook was also the most active premarket Nasdaqstocks on share volume of 3,036,856.Key Facebook partner Zynga (ZNGA) was another laggard, slipping 2.68% to $3.09. Shares of the social gamer plunged 37.48% on Thursday following its own second-quarter results earlier this week. AuthenTec (AUTH) was a major gainer, climbing 60.75% to $8.15 after the company confirmed a merger with Apple (AAPL). The iPhone maker is acquiring the fingerprint sensor specialist for $8 a share, according to documents filed with the Securities and Exchange Commission. Reuters reported the deal values AuthenTec at about $356 million. Apple (AAPL) shares dipped 0.05% to $574.6 on Friday. Amazon (AMZN) crept up 1.13% to $222.5 after posting mixed second-quarter results after market close on Thursday. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
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