Facebook, Nasdaq and Yahoo!: Pre-Market Movers
NEW YORK (TheStreet) -- Facebook
The Menlo Park, Calif.-based firm made an eagerly anticipated and eventful public debut on Friday in the biggest-ever tech IPO. After pricing its offering at $38 a share, Facebook opened at $42.05 and briefly jumped to a high of $45 before closing at $38.23.
Even though the widely anticipated first-day pop failed to materialize, Facebook's IPO still saw the Nasdaq Exchange struggle with unusually heavy volume. The exchange resorted to manually delivering executions to brokerage houses.
On Sunday, Robert Greifeld, the CEO of Nasdaq OMX Group Inc.
Shares of Facebook dipped 3.3% to $36.96 in pre-market trading today. Nasdaq shares fell 2.5% to $21.45.
Online gaming specialist and key Facebook partner Zynga
"Today's agreement provides clarity for our shareholders on a substantial component of Yahoo!'s value and reaffirms the significance of our relationship with Alibaba," said Ross Levinsohn, the interim CEO of Yahoo!, in a statement released on Sunday. "We look forward to continued collaboration with the Alibaba team on business initiatives as we explore joint opportunities for growth and benefit from Alibaba's future."
The Sunnyvale, Calif.-based Internet company was also one of the most active Nasdaq stocks in pre-market trading on share volume of 1,060,246.
Hard-drive specialist Western Digital
--Written by James Rogers in New York.
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