LinkedIn's Debut; Kindles Surpass Books
NEW YORK (TheStreet) - LinkedIn (LNKD) shares rose 2.9% to $97.01 in pre-market trading Friday, a day after the business social network began trading on the NYSE. On Thursday, the stock posted triple digit gains, soaring 109% above its IPO price of $45.
While some tech watchers caution that
LinkedIn's rally may not last,
the IPO's huge reception proved one thing:
for young, public tech firms.
Amazon
(AMZN) - Get Free Report
said Thursday that it is now selling more e-books for the Kindle than real books. Since April 1, for every 100 print books Amazon has sold, it has sold 105 Kindle books, the e-commerce giant said.
Shares of Amazon dropped 0.3% in pre-market trading Friday to $198.20.
Verizon Wireless
(VZ) - Get Free Report
is expected to begin offering family data plans that support multiple devices including smartphones and tablets, according to
Reuters
. This summer the carrier will eliminate unlimited data plans for smartphones and replace them with a tiered pricing model.
Liberty Media
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is seeking to buy Barnes & Noble (BKS) - Get Free Report for $17 per share
. The world's largest bookseller said the special committee of its board, as well as its financial advisors, plan to evaluate the deal, which values Barnes & Noble at around $1 billion.
Shares of Barnes & Noble soared 31.8% in pre-market trading Friday.
CEO Mark Zuckerberg is planning on making his second trip to China as the company looks for the best way to expand into the country, according to
Reuters
. Zuckerberg last visited China in December where he met with executives from Chinese e-commerce giant
Alibaba
.
--Written by Olivia Oran in New York.
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