Facebook financials boosts Internet stocks

Tech stocks related to social media, like Groupon and Zynga, see shares rise after Facebook IPO. Groupon Inc shares jumped to their highest level of 2012 Thursday as the daily deal company got a boost from social networking euphoria sparked by Facebook's IPO filing. Zynga shares are up about 11% and have set a new high in today’s action.

Zynga's business model is largely based on Facebook's success — if people stop playing Farmville on Facebook, Zynga's going to be hurting.

"It shows (Zynga's) an important partner, they're going to participate in Facebook's growth," said Wedbush analyst Michael Pachter.

Oakland online radio service Pandora Media's stock also rose 3.3 percent to $13.32 and American depositary shares of Chinese social-networking company Renren jumped 8.2 percent to $5.42. All these companies went public last year.

Read more -here-