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LinkedIn, Facebook, Activision: Tech Premarket

NEW YORK ( TheStreet) -- LinkedIn (LNKD - Get Report) 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 - Get Report), 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%.

The social networker was also one of the most active premarket stocks on share volume of 304,226.

Oracle (ORCL - Get Report) gained 0.33% to reach $30.02 following SAP's (SAP - Get Report) 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 - Get Report) 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.

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ATVI $36.84 -1.37%
FB $105.74 -1.13%
LNKD $246.92 -1.66%
ORCL $39.46 0.82%
SAP $78.64 -0.58%


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DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

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