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NEW YORK (
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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