Market Overview

Facebook, Google And Other Tech Stocks Post Gains


 Social network giant Facebook and  Search engine Google shares of stock posted gains on Wednesday, Mercury News reported.

Facebook shares surged 2.62 percent, or $1.72, to $67.44 while Google shares are up 2.34 percent or $13.39, to $585.93, the report stated.  Twitter’s shares are also up 2.55 percent, or 98 cents, to $39.46.

Mercury News said that Google’s announcement of using Android mobile operating system to “run everything, everywhere,” contributed to the positive gain.

 Facebook’s new record-breaking data about the World Cup’s popularity in the social media, attracted investors that cause the shares to go up, another contributing to the gain, the article added is the news that Facebook is developing a workplace app called FB@work.

Facebook, Twitter and Google are not only the tech stocks that went up. WMware, a cloud computing company jumped 2.51 percent; Yelp up by 2.86 percent; Apple, 0.09 percent.

The other tech stocks that surged on Wednesday were Intel, Cisco, eBay, Gilead, Juniper, Netflix,  Zynga, LinkedIn, Netflix and  Tesla.

Since several digital platforms are integrated into Facebook and Twitter, the two technology giants’ gains will benefit several companies.

One company which is integrated into Facebook and Twitter showing progress in the audio platform sector is  London-based Audioboom Group PLC(BOOM.L) owner of Audioboo.

As of June 26, 10: 30 am GMT, Audioboom is at 5.39 pence per share. Audioboom’s share is looking steady since the start of the week.  From 0.50 p per share in February, it has peaked to 6.25 p in June, showing a considerable growth potential.

Earlier Arden Partners, a UK equity research company gave Audioboom a “buy” rating and a 14p price target for 2014. According to the International Business Times Australia, Audioboom is the only social media play listed in the London Stock Exchange.

Audioboom share has risen to 293 percent since its reverse to cash shell One Delta came into effect.

Most social media companies are into music but Audioboom is focused on spoken word.

Audiboom is an example within the paradigm shift, we have come from the analog age to the digital age, from Vinyl records and cassette tapes to cloud technologies and vast online readily available audio library.

"If you're looking for spoken word content, then you'd be able to find that on Audioboo," Rob  Proctor, Audioboom’s CEO stated.

Audioboo now has 2.5 million registered users and around 13 million active users across all platforms including the mobile applications and partner websites .The platform now has 2,000 content channels including news networks like BBC and Aljazeera. 

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.


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