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. Follow @jamesjrogers >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
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts