Correction: Monster Worldwide's second-quarter revenue was $237 million and its third-quarter bookings guidance was down 10% to flat.
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 report in 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.Shares of Monster Worldwide (MWW) 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) 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 Kimberly-Clark (KMB). HP also settled the ongoing litigation with Oracle (ORCL) 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. >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. >Contact by Email. Follow @nrpierrepont
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV