Stock action: HP, Facebook up while LinkedIn falls

Stocks are surging after the “fiscal cliff” was averted, although there are exceptions. Here are a few Silicon Valley big movers, up or down, as tech starts off the year mostly in the green:

Hewlett-Packard‘s shares are up nearly 5 percent to about $14.95 as of this post. In a filing last week, HP said it was considering getting rid of units that aren’t helping “meet objectives.” MarketWatch points out that HP shares were the worst-performing tech stock on the S&P 500 in 2012.

• Shares of Facebook are also up sharply, about 5.5 percent to $28.05 as of this post. A couple of analysts raised their price targets on the social network’s stock today. Analysts are reportedly optimistic that mobile ad revenue will improve this year, as well as the possibilities surrounding Facebook Gifts and the growth potential of the company’s ad exchange.

• But the social network for professionals, LinkedIn, is having a down day on the markets today. Shares of the company are down nearly 4 percent to $110.40 after Barclays cut its rating this morning. Barclays analyst Mark May says he’s “stepping to the sidelines” because his bullishness on the stock is now factored in, and it has become expensive compared to similar stock.

 

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