Investor confidence in LinkedIn ( LNKD) sent shares soaring 16.04% to $108.51 on Friday. Not only did the professional network release strong second-quarter earnings on Thursday, but a positive outlook for the rest of 2012. LinkedIn revised its guidance for third-quarter, predicting sales of $235 million to $240 million. Analysts surveyed by Thomson Reuters expect 16 cents a share on $236.06 million in revenue. LinkedIn expects revenue to be between $915 million and $925 million for 2012, up from the prior range of $880 million to $900 million.
Facebook ( FB) rallied after hitting a new 52-week low of $19.82 on Thursday. Earlier this week, the Menlo Park, Calif.-based social network reported that almost 9% of its active user accounts are fake. Shares closed up 5.24% on Friday to finish at $21.09.
Electronic Arts ( EA) filed a lawsuit against social gaming company Zynga ( ZNGA), claiming The Ville infringes on copyrights to its Facebook game, The Sims Social. Shares of Electronic Arts closed up 5.28% to $11.97 and Zynga gained 0.74% to $2.72. Earlier in the week, Zynga reached an all-time low of $2.66. --Written by Nathalie Pierrepont in New York. >To submit a news tip, send an email to: email@example.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. >Contact by Email. Follow @nrpierrepont