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[h=4]Tech stocks: Facebook down following Onavo deal[/h]Shares of Facebook have dipped 1.5% in pre-market trading after the social network acquired the Israeli data analytics firm Onavo. The company confirmed the deal through a statement on their website from
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Brett Molina, USA TODAY 9 a.m. EDT October 14, 2013
The pre-market price for Facebook stock is shown at the Nasdaq MarketSite in New York.(Photo: Mark Lennihan, AP)
Shares of Facebook have dipped 1.5% in pre-market trading after the social network acquired the Israeli mobile data analytics firm Onavo.
The company confirmed the deal through a statement on their website from co-founders Guy Rosen and Roi Tiger. Onavo says its selection of mobile apps such as Onavo Count and Onavo Extend will continue to operate as standalone services.
"We've built world-class products and a remarkably talented team which has pioneered important breakthroughs in data compression technology and mobile analytics," reads Onavo's statement. "Today, we're eager to take the next step and make an even bigger impact by supporting Facebook's mission to connect the world."
Facebook has yet to independently confirm details of the deal.
Meanwhile, Groupon shares are down 1.5%, the potential beginning of a significant slide for the daily deals site.
As Marketwatch reports, investors have slashed profit estimates, fearful the company can't consistently sustain profits. Shares of Groupon have surged since last November, when it sunk to a 52-week low of $2.63. Since then, the company ousted founder Andrew Mason and shares have surged past $12.
Follow Brett Molina on Twitter: @bam923.
[h=6]USA NOW[/h]
[h=5]Is this Madeleine McCann's abductor? | USA NOW video[/h][h=5]Oct 14, 2013[/h]
[h=6]Share This Story![/h]Let friends in your social network know what you are reading about
FacebookEmailGoogle+LinkedIn
[h=4]Posted![/h]A link has been posted to your Facebook feed.
[h=4]Sent![/h]A link has been sent to your friend's email address.
Brett Molina, USA TODAY 9 a.m. EDT October 14, 2013
The pre-market price for Facebook stock is shown at the Nasdaq MarketSite in New York.(Photo: Mark Lennihan, AP)
Shares of Facebook have dipped 1.5% in pre-market trading after the social network acquired the Israeli mobile data analytics firm Onavo.
The company confirmed the deal through a statement on their website from co-founders Guy Rosen and Roi Tiger. Onavo says its selection of mobile apps such as Onavo Count and Onavo Extend will continue to operate as standalone services.
"We've built world-class products and a remarkably talented team which has pioneered important breakthroughs in data compression technology and mobile analytics," reads Onavo's statement. "Today, we're eager to take the next step and make an even bigger impact by supporting Facebook's mission to connect the world."
Facebook has yet to independently confirm details of the deal.
Meanwhile, Groupon shares are down 1.5%, the potential beginning of a significant slide for the daily deals site.
As Marketwatch reports, investors have slashed profit estimates, fearful the company can't consistently sustain profits. Shares of Groupon have surged since last November, when it sunk to a 52-week low of $2.63. Since then, the company ousted founder Andrew Mason and shares have surged past $12.
Follow Brett Molina on Twitter: @bam923.
[h=6]USA NOW[/h]
[h=5]Is this Madeleine McCann's abductor? | USA NOW video[/h][h=5]Oct 14, 2013[/h]