LinkedIn, Facebook, Activision: Tech Premarket

NEW YORK ( TheStreet) -- LinkedIn ( LNKD) 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), 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) gained 0.33% to reach $30.02 following SAP's ( SAP) 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) 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.

>To submit a news tip, send an email to: tips@thestreet.com.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices

If you liked this article you might like

How to Avoid Making One of the Most Lethal Investing Mistakes Around

Go Inside Google's 'Moonshot' Project That Aims to Succeed Where Lyft Failed

One Number Shows Snap Has Almost No Chance to Dethrone Facebook

Why Investors Should Factor in Goodwill When Evaluating Stocks