Facebook falls below $20 for record low
8/2/12 4:22 PM ET (MarketWatch)
SAN FRANCISCO (MarketWatch) -- Shares of Facebook Inc. fell below $20 on Thursday, hitting a record low for the third straight day.
Facebook (FB) lost 4% to close at $20.04, after touching an intraday low of $19.82. But shares of Yelp Inc. (YELP) soared 17% to close at $22, one day after reporting better-than-expected results.
Zynga Inc. (ZNGA) slid 3.9% to close at $2.70, while LinkedIn Corp. (LNKD) shed 2.2% to close at $93.51 and Groupon Inc(GRPN) was off 1.5% to close at $6.38. LinkedIn, after the closing bell, saw its shares rise following its increased revenue outlook for 2012.
The Nasdaq Composite Index
ended barely lower at 2,910, joining a broad market retreat as investors reacted to European Central Bank Mario Draghi's comments offering no new details on a pledge to support the euro.
The Dow Jones Industrial Average
was down 92 points. Read more about U.S. stocks in Market Snapshot.
Apple Inc.'s (AAPL) shares were up a fraction closing at $607.79. IDC reported that the company shipped a record 17 million iPads in the second quarter, expanding its share of the fast-growing tablet market.
Apple remained the No. 1 tablet vendor, with 68% of roughly 25 million units shipped in the quarter, followed by Samsung with 10% and Amazon.Com Inc. with 5%.
Shares of Amazon.com (AMZN) were down a fraction at $230.81.
Also in the red were shares of Cisco Systems Inc. (CSCO) , Dell Inc. (DELL) and Yahoo Inc. (YHOO)