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Correction: Monster Worldwide's second-quarter revenue was $237 million and its third-quarter bookings guidance was down 10% to flat.
NEW YORK (
Facebook(FB - Get Report) and
Zynga(ZNGA - Get Report) hit new 52-week lows on Thursday.
Twenty-one fund managers from
Fidelity Investments dumped 1.9 million Facebook shares in June, with 16 of them selling over a quarter of their holdings, according to a
The Wall Street Journal. Facebook shares fell 3.69% to $20.16 on Thursday.
Zynga, which generates a significant portion of its revenue through Facebook, reached a record low of $2.73 on Thursday, down 2.84%. Law firms
Pomerantz Haudek Grossman & Gross LLP and
Izard Nobel LLP filed class action lawsuits against Zynga for
violating the federal securities laws, on Thursday.
Monster Worldwide(MWW - Get Report) were down 15.69% to $6.00 on Thursday after forecasting a weak third quarter. Despite the 14% year-over-year increase in North America bookings, the employment solutions company generated earnings of 6 cents per share on revenue of $237 million, in the second quarter ended June 30, 2012.
Citing "continued global economic weakness, particularly in Europe," Monster Worldwide expects third-quarter bookings to drop by 10% to flat from last year, driving revenue down 6% to 12% from third quarter 2011. Third-quarter earnings are expected to be in the range of $0.02 to $0.07 per share. Analysts polled by
Thomson Reuters expect 9 cents of earnings on revenue of $244.74 million.
HP(HPQ - Get Report) was a rare bright spot amongst tech stocks on Thursday, up 0.74% to $17.79. Yesterday, the software giant announced the appointment of Ramón Baez as Global Chief Information Officer. Baez was previously Chief Information Officer at
HP also settled the ongoing litigation with
Oracle(ORCL - Get Report) regarding the Intel Itanium platform on Wednesday.
"Today's proposed ruling is a tremendous win for HP and its customers," said HP in a statement. "The Superior Court of the State of California, Santa Clara County, has confirmed the existence of a contract between HP and Oracle that requires Oracle to port its software products to HP's Itanium-based servers. We expect Oracle to comply with its contractual obligation as ordered by the Court."
--Written by Nathalie Pierrepont in New York.
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