This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Defriended, Facebook Falls: Winners & Losers

NEW YORK ( TheStreet) -- Wall Street has never been a place for making friends, and Facebook (FB - Get Report) continues to find itself "defriended" with each new 52-week low.

Facebook shares plunged below the $20 level as a lockup period expired Thursday, with an additional 270 million shares now eligible to be traded. As part of Facebook's IPO in May, there was an agreement for an additional 2 billion shares to come on the market over the next nine months. Thursday's lockup expiration is just the first of several over the next nine months.

Shares hit a new 52-week low of $19.69 before bouncing slightly higher, trading at $20.02, off 5.57% on more than 100 million shares.

Apple (AAPL - Get Report) shares edged higher after reports that the company might be working on a new set-top box to entrench itself in the living room.

The Wall Street Journal reports that the Cupertino, Calif.-based firm is in talks with U.S. cable operators about building an Apple set-top box for live television. It's unclear at this point if Apple is abandoning its television set plans, or if this will be an add-on to the existing Apple TV. There's also the potential for the technology to be put into an actual television, The Journal said, citing two people briefed on the matter.

Shares of Apple gained 0.71% to $635.34 in Thursday trade.

Cisco Systems (CSCO - Get Report) led technology higher, after the network equipment provider reported fourth-quarter earnings that beat expectations.

Cisco earned 47 cents a share on revenue of $11.7 billion, up from 40 cents a share $11.2 billion in the same period last year. Analysts polled by Thomson Reuters were looking for 45 cents per share on $11.6 billion in revenue.

The company also boosted its quarterly dividend 75% to 14 cents per share per quarter.

Cisco shares had strong gains Thursday, up 8.65% to $18.85 on more than 88 million shares.

Groupon (GRPN - Get Report) continued its descent, falling below the $5 level, before recovering.

Earlier in the week, the Chicago-based company reported second-quarter earnings that missed expectations. Groupon had non-GAAP earnings of 8 cents a share on revenue of $568.3 million. The average estimate of analysts polled by Thomson Reuters was for a profit of 3 cents a share on revenue of $573.1 million

Shares of Groupon fell 5.64% to $5.02 on 20 million shares, nearly twice its average daily volume.

Interested in more on Groupon? See TheStreet Ratings' report card for this stock.

Follow TheStreet Tech on your wireless devices.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 0.21%
CSCO $27.96 0.00%
FB $116.73 0.00%
GRPN $4.43 0.00%
GOOG $691.02 0.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs