Facebook stock prices dropped today : Facebook Inc (NASDAQ:FB) shares dropped 5.45% to $28.11. The company, on Jan. 31, reported a plunge in fourth-quarter profit on higher spending. Net income fell 79% to $64 million last quarter as operating expenses jumped 82%. That outpaced a 40% revenue gain to $1.59 billion and raised concerns that margins will come under pressure.
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Showing posts with label facebook. Show all posts
Showing posts with label facebook. Show all posts
Tuesday, February 5, 2013
Thursday, October 25, 2012
analysts Ratings Updates FB stock price target
analysts Ratings Updates FB stock price target :
Facebook (NASDAQ: FB) received a number of ratings updates from brokerages and research firms in the last week:
Facebook ‘s EPS estimates were cut by analysts at JMP Securities. They now have an “outperform” rating and a $30.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
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Facebook ‘s EPS estimates were cut by analysts at JMP Securities. They now have an “outperform” rating and a $30.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
Wednesday, September 26, 2012
Why Facebook stock prices drop september 26 2012
Why Facebook stock prices drop, facebook stock september 26 2012 ;
Facebook’s shares continued to plummet after it emerged that users’ old private messages were being published publicly on the social networking site. Since Facebook went public in May, its share price has dropped by 45 percent.
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Wednesday, September 19, 2012
Nasdaq plan compensate Facebook ipo
Nasdaq plan to compensate Facebook ipo : Nasdaq Group stood by its proposed $62 million plan to compensate firms affected by the fallout from Facebook's botched initial public offering, taking aim at UBS, Citigroup and other parties that derided the payback plan.
In a letter to the U.S. Securities and Exchange Commission dated Sept. 17, Nasdaq said the proposed compensation pool "goes well beyond what is required under current Nasdaq rules." It noted that if the proposal is not approved, the applicable limit of liability under the approved rule would instead be $500,000 - less than 1 percent of the proposed pool.
Major market makers and broker dealers say they lost upward of $500 million because of technical glitches during Facebook's May 18 stock market debut. Nasdaq's plan to offer $62 million in cash to compensate those who lost money was an increase from earlier discussions, which would have included a $40 million payback fund, made up mostly of trading rebates.
The proposal prompted a series of letters to the SEC in late August from concerned market makers, brokers, a trade group and lawyers who criticized Nasdaq's plan. Many called for changes or the outright rejection of the plan.
UBS Securities, an arm of the Swiss bank, said it lost more than $350 million in the botched IPO, and called the plan "woefully inadequate" in a letter to the SEC dated Aug. 22.
The firm said the types of claims for trading losses that Nasdaq agreed to compensate "should be expanded to include the full extent of losses caused by Nasdaq." UBS said technical malfunctions from the IPO caused its systems to re-enter orders multiple times and left it with a huge position of unwanted stock.
Citi expressed similar discontent in its own scathing letter to the SEC in August in which it said Nasdaq's actions on the day of the IPO amounted to "gross negligence." The No. 3 U.S. bank's market-making arm, Automated Trading Desk, is said to have lost around $20 million in the IPO.
Both UBS and Citi declined to comment.
Nasdaq defended its use of a 45-minute window to determine a benchmark reference price to assess the amount owed on orders qualifying for accommodation after some market participants argued that the amount should take into account trading beyond the release of cross transaction reports at 1:50 p.m. that day.
The exchange said the timeframe "should have been ample time for a reasonably diligent member to identify any unexpected losses or unanticipated positions and take steps to mitigate or liquidate them."
Nasdaq said the purpose of the proposal is not to compensate all losses incurred on May 18 from Facebook's botched IPO, but to modify the $500,000 liability limit in order to make additional funds available for compensation in certain categories of loss outlined in its proposal.
The eight-page letter was signed by Nasdaq Senior Vice President and Corporate Secretary Joan Conley.
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In a letter to the U.S. Securities and Exchange Commission dated Sept. 17, Nasdaq said the proposed compensation pool "goes well beyond what is required under current Nasdaq rules." It noted that if the proposal is not approved, the applicable limit of liability under the approved rule would instead be $500,000 - less than 1 percent of the proposed pool.
Major market makers and broker dealers say they lost upward of $500 million because of technical glitches during Facebook's May 18 stock market debut. Nasdaq's plan to offer $62 million in cash to compensate those who lost money was an increase from earlier discussions, which would have included a $40 million payback fund, made up mostly of trading rebates.
The proposal prompted a series of letters to the SEC in late August from concerned market makers, brokers, a trade group and lawyers who criticized Nasdaq's plan. Many called for changes or the outright rejection of the plan.
UBS Securities, an arm of the Swiss bank, said it lost more than $350 million in the botched IPO, and called the plan "woefully inadequate" in a letter to the SEC dated Aug. 22.
The firm said the types of claims for trading losses that Nasdaq agreed to compensate "should be expanded to include the full extent of losses caused by Nasdaq." UBS said technical malfunctions from the IPO caused its systems to re-enter orders multiple times and left it with a huge position of unwanted stock.
Citi expressed similar discontent in its own scathing letter to the SEC in August in which it said Nasdaq's actions on the day of the IPO amounted to "gross negligence." The No. 3 U.S. bank's market-making arm, Automated Trading Desk, is said to have lost around $20 million in the IPO.
Both UBS and Citi declined to comment.
Nasdaq defended its use of a 45-minute window to determine a benchmark reference price to assess the amount owed on orders qualifying for accommodation after some market participants argued that the amount should take into account trading beyond the release of cross transaction reports at 1:50 p.m. that day.
The exchange said the timeframe "should have been ample time for a reasonably diligent member to identify any unexpected losses or unanticipated positions and take steps to mitigate or liquidate them."
Nasdaq said the purpose of the proposal is not to compensate all losses incurred on May 18 from Facebook's botched IPO, but to modify the $500,000 liability limit in order to make additional funds available for compensation in certain categories of loss outlined in its proposal.
The eight-page letter was signed by Nasdaq Senior Vice President and Corporate Secretary Joan Conley.
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Monday, September 17, 2012
Facebook stock will joining the Nasdaq 100
Facebook stock will joining the Nasdaq 100 : Facebook’s (FB) stock swoon won’t prevent it from burrowing its way into your mutual fund or ETF. And you may well be wishing that the process would hurry itself up, so your fund doesn’t end up buying at a premium.
The company just notched another milestone on the road to joining the Nasdaq 100, the list of the biggest nonfinancial companies on the Nasdaq. This index drives the PowerShares QQQ (QQQ), among other popular funds. As we reported in April, Facebook could join the Nasdaq 100 as soon as late this year.
Nasdaq OMX Group (NDAQ) said this morning that Facebook is one of nine stocks set to join the NASDAQ Q-50 Index next week, the 50 companies next in line to join its flagship non-financial index. Facebook, with a nearly $48 billion market capitalization, immediately vaults to the top of the 50, ahead of companies such as $14.4 billion Regeneron Pharma (REGN) and $12.5 billion Liberty Media (LMCA). (Texas Instruments (TXN) and Viacom (VIAB), two stocks close to Facebook’s market cap, were admitted to the 100 earlier this year.) Candidates to be bumped out of the Nasdaq 100 in upcoming rebalancings include Netflix (NFLX), whose market cap is down to $3.4 billion, or Warner Chilcott (WCRX), at $3.2 billion, though Kraft’s (KFT) split into two companies could stay at least one of those deletions.
With opinion on Facebook’s stock so sour, investors may well be wishing this process would speed up. Facebook fell beneath $18 early this month but is now moving back toward $23, a level it hasn’t seen since late July. A handful of popular ETFs already own Facebook, including the iShares Russell 1000 Growth ETF (IWF) and companion iShares Russell 1000 ETF (IWB), and the Vanguard Information Technology Index Fund (VGT).
Groupon (GRPN) is also joining the Q-50 Index, Nasdaq said. It won’ t be anywhere near the top of the list, though, with its $3.2 billion market capitalization. Here are the other additions to the Q-50 index, effective prior to the open of trading on Monday Sept. 24:
Concur Technologies, Inc. (CNQR)
Mellanox Technologies, Ltd. (MLNX)
NXP Semiconductors N.V. (NXPI)
ONYX Pharmaceuticals, Inc. (ONXX)
Royal Gold, Inc. (RGLD)
tw telecom inc. (TWTC)
Western Digital Corporation (WDC)
The nine deletions from the index:
Atmel Corporation (ATML)
Endo Health Solutions Inc. (ENDP)
Informatica Corporation (INFA)
Lincoln Electric Holdings, Inc. (LECO)
MercadoLibre, Inc. (MELI)
ON Semiconductor Corporation (ONNN)
Patterson Companies, Inc. (PDCO)
Ryanair Holdings plc (RYAAY)
Sina Corporation (SINA).
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The company just notched another milestone on the road to joining the Nasdaq 100, the list of the biggest nonfinancial companies on the Nasdaq. This index drives the PowerShares QQQ (QQQ), among other popular funds. As we reported in April, Facebook could join the Nasdaq 100 as soon as late this year.
Nasdaq OMX Group (NDAQ) said this morning that Facebook is one of nine stocks set to join the NASDAQ Q-50 Index next week, the 50 companies next in line to join its flagship non-financial index. Facebook, with a nearly $48 billion market capitalization, immediately vaults to the top of the 50, ahead of companies such as $14.4 billion Regeneron Pharma (REGN) and $12.5 billion Liberty Media (LMCA). (Texas Instruments (TXN) and Viacom (VIAB), two stocks close to Facebook’s market cap, were admitted to the 100 earlier this year.) Candidates to be bumped out of the Nasdaq 100 in upcoming rebalancings include Netflix (NFLX), whose market cap is down to $3.4 billion, or Warner Chilcott (WCRX), at $3.2 billion, though Kraft’s (KFT) split into two companies could stay at least one of those deletions.
With opinion on Facebook’s stock so sour, investors may well be wishing this process would speed up. Facebook fell beneath $18 early this month but is now moving back toward $23, a level it hasn’t seen since late July. A handful of popular ETFs already own Facebook, including the iShares Russell 1000 Growth ETF (IWF) and companion iShares Russell 1000 ETF (IWB), and the Vanguard Information Technology Index Fund (VGT).
Groupon (GRPN) is also joining the Q-50 Index, Nasdaq said. It won’ t be anywhere near the top of the list, though, with its $3.2 billion market capitalization. Here are the other additions to the Q-50 index, effective prior to the open of trading on Monday Sept. 24:
Concur Technologies, Inc. (CNQR)
Mellanox Technologies, Ltd. (MLNX)
NXP Semiconductors N.V. (NXPI)
ONYX Pharmaceuticals, Inc. (ONXX)
Royal Gold, Inc. (RGLD)
tw telecom inc. (TWTC)
Western Digital Corporation (WDC)
The nine deletions from the index:
Atmel Corporation (ATML)
Endo Health Solutions Inc. (ENDP)
Informatica Corporation (INFA)
Lincoln Electric Holdings, Inc. (LECO)
MercadoLibre, Inc. (MELI)
ON Semiconductor Corporation (ONNN)
Patterson Companies, Inc. (PDCO)
Ryanair Holdings plc (RYAAY)
Sina Corporation (SINA).
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Tuesday, September 4, 2012
what time will facebook stock start selling
what time will facebook stock start selling, Facebook stock start selling oktober 2012,, facebook stock 2013 : Some of Facebook's early investors sold off their stock at the first chance they got, but CEO Mark Zuckerberg is hanging on to his shares for at least the next year.
Zuckerberg, who owns about 444 million shares plus an option for another 60 million, disclosed his plans in a Facebook regulatory filing late Tuesday.
Facebook is moving up the expiration date of a post-IPO ban on stock sales by employees by two weeks.
Facebook's stock (FB) fell to $17.55 in Tuesday trading, its lowest point ever, and closed down 33 cents at $17.73.
Facebook also said in a regulatory filing Tuesday that CEO Mark Zuckerberg won't sell stock in the company for at least the next 12 months.
Many of Facebook's rank-and-file employees can start selling stock they own on Oct. 29 instead of the earlier date of Nov. 14. Facebook says it's withholding about 101 million shares from its employee stock units to cover taxes they will incur at a rate of about 45%. It will then pay the tax obligations, currently estimated at around $1.9 billion, cash and credit.
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Zuckerberg, who owns about 444 million shares plus an option for another 60 million, disclosed his plans in a Facebook regulatory filing late Tuesday.
Facebook is moving up the expiration date of a post-IPO ban on stock sales by employees by two weeks.
Facebook's stock (FB) fell to $17.55 in Tuesday trading, its lowest point ever, and closed down 33 cents at $17.73.
Facebook also said in a regulatory filing Tuesday that CEO Mark Zuckerberg won't sell stock in the company for at least the next 12 months.
Many of Facebook's rank-and-file employees can start selling stock they own on Oct. 29 instead of the earlier date of Nov. 14. Facebook says it's withholding about 101 million shares from its employee stock units to cover taxes they will incur at a rate of about 45%. It will then pay the tax obligations, currently estimated at around $1.9 billion, cash and credit.
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Monday, September 3, 2012
BMO Cut Facebook stock Price target to $15
Facebook stock Price Target cut $15 : Facebook Inc (NASDAQ:FB) showed worst movement on Friday as its price target cut to $15 from $25 by BMO Capital. The stock is closed at 5.40 percent to a new low of $18.06, as Bank of America-Merrill Lynch as well radically slashed its target on the shares to $23 from $35. In a note to clients, BMO analyst Daniel Salmon described to his own checks that point out weakness in the company’s advertising business, with some advertisers indicating a wish to pause in order to reevaluate the platform.
Salmon wrote that they anticipate investor attention to return to fundamentals after the technical challenges presented by lock-up terminations over the next six months have been absorbed by the stock (possibly offset by several index purchasing at several point), who maintains an underperform rating on the stock.
Facebook Inc (NASDAQ:FB) stock hit highest price at $18.70, beginning with a price of $18.68 and reported decreased -5.40% to the closed at $18.06 with day range of $18.03-$18.70. The total market capitalization remained $38.69 billion, total volume held in the session was 58.76 million shares higher than its average volume of 47.31 million shares.
To check the Stocks ups and downs, FB last week stock price volatility remained 2.38% and month was at 4.42%. FB generated revenue of 4.33 billion in the following twelve months income of $383.00 million. The Company showed a positive 13.29% in the net profit margin and in addition to in its operating margin which remained 13.84%.
The FB past twelve months price to sales ratio was 8.94 and price to cash ratio remained 3.80. As far as if notice on other major contributors of similar sectors have sale ratio and price to cash ratio remained Yahoo! Inc. (NASDAQ:YHOO)’s P/S 3.48% P/C 9.08%, Zynga Inc (NASDAQ:ZNGA)’s P/S 1.67% P/C 1.75%, Groupon Inc (NASDAQ:GRPN)’s P/S 1.32% P/C 2.29%, Baidu.com, Inc. (ADR) (NASDAQ:BIDU)’s P/S 13.46% P/C 13.55%.
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Salmon wrote that they anticipate investor attention to return to fundamentals after the technical challenges presented by lock-up terminations over the next six months have been absorbed by the stock (possibly offset by several index purchasing at several point), who maintains an underperform rating on the stock.
Facebook Inc (NASDAQ:FB) stock hit highest price at $18.70, beginning with a price of $18.68 and reported decreased -5.40% to the closed at $18.06 with day range of $18.03-$18.70. The total market capitalization remained $38.69 billion, total volume held in the session was 58.76 million shares higher than its average volume of 47.31 million shares.
To check the Stocks ups and downs, FB last week stock price volatility remained 2.38% and month was at 4.42%. FB generated revenue of 4.33 billion in the following twelve months income of $383.00 million. The Company showed a positive 13.29% in the net profit margin and in addition to in its operating margin which remained 13.84%.
The FB past twelve months price to sales ratio was 8.94 and price to cash ratio remained 3.80. As far as if notice on other major contributors of similar sectors have sale ratio and price to cash ratio remained Yahoo! Inc. (NASDAQ:YHOO)’s P/S 3.48% P/C 9.08%, Zynga Inc (NASDAQ:ZNGA)’s P/S 1.67% P/C 1.75%, Groupon Inc (NASDAQ:GRPN)’s P/S 1.32% P/C 2.29%, Baidu.com, Inc. (ADR) (NASDAQ:BIDU)’s P/S 13.46% P/C 13.55%.
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Saturday, September 1, 2012
Facebook sales forecast 2012- 2013
Facebook sales forecast 2012- 2013, facebook profit 2013 : Facebook may post $5.04 billion in sales this year, EMarketer estimated, down from the market researcher's earlier projection for $6.1 billion as the biggest social network struggles to sustain advertising growth.
EMarketer, which made its earlier prediction in February, now expects revenue to rise 36 per cent in 2012 and 31 per cent in 2013, compared to an 88 per cent gain last year.
Growth in advertising, which makes up the majority of Facebook's sales, will slow to 34 per cent in 2012 and 29 per cent in 2013, compared to more than 68 per cent last year, EMarketer said.
Facebook is grappling with questions from marketers about how well ads on its site are performing, said Debra Aho Williamson, an EMarketer analyst.
While Facebook says it is working with companies to show that the ads have an impact with its 955 million users, the social network must move more quickly, she said.
Sales "haven't been growing as fast as we and others had expected,- Williamson said. "There is still hesitation about the effectiveness of the advertising, about how much the advertising is worth.- Still, revenue growth is seen "stabilising- in 2013, she said.
Facebook is get help next year from newer initiatives, including ads tied to searches and the Facebook Exchange, which lets advertisers reach specific types of users on the site based on their browsing history.
New mobile-ad services also should make a bigger impact next year as well, she said. These services weren't a big part of the forecast for 2012 before the revision.
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EMarketer, which made its earlier prediction in February, now expects revenue to rise 36 per cent in 2012 and 31 per cent in 2013, compared to an 88 per cent gain last year.
Growth in advertising, which makes up the majority of Facebook's sales, will slow to 34 per cent in 2012 and 29 per cent in 2013, compared to more than 68 per cent last year, EMarketer said.
Facebook is grappling with questions from marketers about how well ads on its site are performing, said Debra Aho Williamson, an EMarketer analyst.
While Facebook says it is working with companies to show that the ads have an impact with its 955 million users, the social network must move more quickly, she said.
Sales "haven't been growing as fast as we and others had expected,- Williamson said. "There is still hesitation about the effectiveness of the advertising, about how much the advertising is worth.- Still, revenue growth is seen "stabilising- in 2013, she said.
Facebook is get help next year from newer initiatives, including ads tied to searches and the Facebook Exchange, which lets advertisers reach specific types of users on the site based on their browsing history.
New mobile-ad services also should make a bigger impact next year as well, she said. These services weren't a big part of the forecast for 2012 before the revision.
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Friday, August 31, 2012
Why Facebook stock prices down 8/31/2012
Why Facebook stock prices down 8/31/2012, Zynga shares prices : Shares of Facebook Inc (FB.O) fell 4.5 percent to a new low on Friday after BMO Capital Markets cut its price target on the social networking company's shares, saying several lock-up expirations over the next year will weigh on the stock.
BMO Capital Markets, which cut its price target by $10 to $15, said Wall Street sentiment on Facebook is now much worse than advertiser sentiment.
Bank of America Merrill Lynch slashed its price target for social networking site Facebook ($18.38, -$0.71, -3.74%) to $23 from $35, though it backs its neutral rating. The firm cites more looming lock-up expirations for the cut. "Facebook has multiple lock-up expirations over the next year and recent selling activity on the August lock-up suggests to us the risk of future selling pressure," the firm wrote in a note to clients. It added that the biggest lock-up date is 11/14 (40% of shares eligible for sale), "and we wouldn't expect stock to see buying momentum until December."
We expect investor attention to return to fundamentals after the technical challenges presented by lock-up expirations over the next six months have been absorbed by the stock, Shares of the company fell to $18.23 on the Nasdaq on Friday amid heavy trading.
Shares of game publisher Zynga Inc (ZNGA.O), which gets most of its revenue from Facebook, slipped 3 percent on the Nasdaq.
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BMO Capital Markets, which cut its price target by $10 to $15, said Wall Street sentiment on Facebook is now much worse than advertiser sentiment.
Bank of America Merrill Lynch slashed its price target for social networking site Facebook ($18.38, -$0.71, -3.74%) to $23 from $35, though it backs its neutral rating. The firm cites more looming lock-up expirations for the cut. "Facebook has multiple lock-up expirations over the next year and recent selling activity on the August lock-up suggests to us the risk of future selling pressure," the firm wrote in a note to clients. It added that the biggest lock-up date is 11/14 (40% of shares eligible for sale), "and we wouldn't expect stock to see buying momentum until December."
We expect investor attention to return to fundamentals after the technical challenges presented by lock-up expirations over the next six months have been absorbed by the stock, Shares of the company fell to $18.23 on the Nasdaq on Friday amid heavy trading.
Shares of game publisher Zynga Inc (ZNGA.O), which gets most of its revenue from Facebook, slipped 3 percent on the Nasdaq.
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Monday, August 20, 2012
Facebook stock prices august 20 2012
Facebook stock prices august 20 2012 : Facebook's beleaguered stock got an afternoon boost after hitting its lowest level ever earlier in the day.Facebook Inc. hit a new low of $18.75 before bouncing back to $19.86 in afternoon trading Monday. That's up 81 cents, or 2.3 percent, for the day.
The social networking icon's much-anticipated IPO turned sour amid technical problems on the Nasdaq stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.
Investors are worried about Facebook's ability to grow revenue quickly, especially through mobile advertising as users flock to smartphones and tablet computers. There are also looming expirations of the IPO lock-up periods. Lockups preventing many Facebook employees from selling stock expire this fall, potentially flooding the market with more shares.
A Los Angeles Times story last week also noted that investors have begun wondering aloud whether Facebook co-founder Mark Zuckerberg is cut out to continue being the company's chief executive.
Although the company has gone public, Zuckerberg has continued to focus on long-term goals while ignoring short-term outcomes and satisfying investors.
Reporting its first public quarterly earnings last month, the company beat analysts' revenue estimates, but investors were scared by its expenses and slowing growth.
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The social networking icon's much-anticipated IPO turned sour amid technical problems on the Nasdaq stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.
Investors are worried about Facebook's ability to grow revenue quickly, especially through mobile advertising as users flock to smartphones and tablet computers. There are also looming expirations of the IPO lock-up periods. Lockups preventing many Facebook employees from selling stock expire this fall, potentially flooding the market with more shares.
A Los Angeles Times story last week also noted that investors have begun wondering aloud whether Facebook co-founder Mark Zuckerberg is cut out to continue being the company's chief executive.
Although the company has gone public, Zuckerberg has continued to focus on long-term goals while ignoring short-term outcomes and satisfying investors.
Reporting its first public quarterly earnings last month, the company beat analysts' revenue estimates, but investors were scared by its expenses and slowing growth.
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Sunday, August 19, 2012
facebook stock outlook next week 20-24 2012
facebook stock outlook next week 20-24 2012 : Facebook's stock fell to $19 for the first time Friday, losing half its market value since the company's initial public offering in May.
The stock dipped 87 cents, or 4 percent, to briefly hit $19, just minutes before it closed the trading day at $19.05. Facebook's shares ended the week down nearly 13 percent.
Facebook hit the $19 milestone a day after the expiration of a lock-up period that had previously prevented some early investors and insiders from selling their shares. Stakeholders who owned a combined 271 million Facebook shares before Thursday can now sell their holdings.
A breakdown of just how many major Facebook Inc. shareholders sold their stock this week won't be available until next week at the earliest, when sellers must disclose such transactions.
Facebook's stock has struggled since the company's mid-May IPO. It closed its first day of trading barely above its initial offering price of $38. It has been below that level since.
The stock has been down on 38 trading days, up on 25 days and unchanged on one since its initial public offering.
Investors have been concerned about the social network's ability to increase revenue and make money from its growing mobile audience. Many analysts, however, hold positive opinions of the company's long-term prospects.
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The stock dipped 87 cents, or 4 percent, to briefly hit $19, just minutes before it closed the trading day at $19.05. Facebook's shares ended the week down nearly 13 percent.
Facebook hit the $19 milestone a day after the expiration of a lock-up period that had previously prevented some early investors and insiders from selling their shares. Stakeholders who owned a combined 271 million Facebook shares before Thursday can now sell their holdings.
A breakdown of just how many major Facebook Inc. shareholders sold their stock this week won't be available until next week at the earliest, when sellers must disclose such transactions.
Facebook's stock has struggled since the company's mid-May IPO. It closed its first day of trading barely above its initial offering price of $38. It has been below that level since.
The stock has been down on 38 trading days, up on 25 days and unchanged on one since its initial public offering.
Investors have been concerned about the social network's ability to increase revenue and make money from its growing mobile audience. Many analysts, however, hold positive opinions of the company's long-term prospects.
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Thursday, August 16, 2012
Why Facebook stock prices down 8/16/2012
Why Facebook stock prices down 8/16/2012 : Facebook, the world's No. 1 Internet social network with 955 million users, has seen its shares pummeled since the market debut in May that put its value at more than $100 billion.
Facebook's stock plunged to an all-time low on Thursday as the market braced for the company's insiders to dump their stock after the expiration of a lock-up period.
Investors ranging from Accel Partners to Goldman Sachs, Zynga CEO Mark Pincus and Facebook board members James Breyer, Peter Thiel and Reid Hoffman are among those free to sell stock they own now.
By 10.30am, the price was down 7 percent to $19.69 a share. By noon, it had climbed back to $19.95 a share. In May, the initial public offering of the stock was $38.
If the stock hits $19, it will have lost half its value since Facebook went public in May. Before noon, the company lost $4billion in market value, thanks to the plunging prices.
It's not yet known whether anyone had sold shares. The stock price decline could reflect investors' anticipation of such a move.
More than 270 million shares have been unlocked -- more than one-half of the 421 million shares sold in the May initial public offering of the social networking company.
Roughly 64 million shares of Facebook traded hands in the first hour of trading, more than double its 50-day daily average of just under 30 million shares.
Investors have been concerned about Facebook's ability to keep increasing revenue and make money from its growing mobile audience, even as many analysts hold positive long-term views.
Those eligible to sell additional shares Thursday were the investors and directors who had participated in the May IPO. The exception was CEO Mark Zuckerberg, who will be ineligible until November.
Other shareholders, including many Facebook employees, will be able to sell beginning in October. The last lockup period expires next May, a year after the IPO.
In all, up to 1.91 billion more shares could flood the stock market over the next several months -- more than four times the 421 million shares that have been trading since Facebook's IPO. Of the 1.91 billion, 271 million shares became eligible for sale Thursday.
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Facebook's stock plunged to an all-time low on Thursday as the market braced for the company's insiders to dump their stock after the expiration of a lock-up period.
Investors ranging from Accel Partners to Goldman Sachs, Zynga CEO Mark Pincus and Facebook board members James Breyer, Peter Thiel and Reid Hoffman are among those free to sell stock they own now.
By 10.30am, the price was down 7 percent to $19.69 a share. By noon, it had climbed back to $19.95 a share. In May, the initial public offering of the stock was $38.
If the stock hits $19, it will have lost half its value since Facebook went public in May. Before noon, the company lost $4billion in market value, thanks to the plunging prices.
It's not yet known whether anyone had sold shares. The stock price decline could reflect investors' anticipation of such a move.
More than 270 million shares have been unlocked -- more than one-half of the 421 million shares sold in the May initial public offering of the social networking company.
Roughly 64 million shares of Facebook traded hands in the first hour of trading, more than double its 50-day daily average of just under 30 million shares.
Investors have been concerned about Facebook's ability to keep increasing revenue and make money from its growing mobile audience, even as many analysts hold positive long-term views.
Those eligible to sell additional shares Thursday were the investors and directors who had participated in the May IPO. The exception was CEO Mark Zuckerberg, who will be ineligible until November.
Other shareholders, including many Facebook employees, will be able to sell beginning in October. The last lockup period expires next May, a year after the IPO.
In all, up to 1.91 billion more shares could flood the stock market over the next several months -- more than four times the 421 million shares that have been trading since Facebook's IPO. Of the 1.91 billion, 271 million shares became eligible for sale Thursday.
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Thursday, August 2, 2012
Why Facebook stock prices drop august 2 2012
Why Facebook stock prices drop august 2 2012 : Facebook’s stock price reached a new low Thursday as shares of the world's largest social network fell below $20 for the first time, down by nearly half from its $38 initial public offering price.
The company’s shares at one point dipped to $19.95, before coming back up slightly. At last check, the stock was worth $19.99 per share.
The continuing slide of the stock price comes on the heels of worries over Facebook’s revenue growth, marketing costs and mobile business.
Shares of the company have fallen about 26% since it posted a loss of $157 million in its first quarterly earnings report last week.
Revenue, which increased 32% year over year to $1.18 billion, met Wall Street’s expectations, but investors pummeled the stock and analysts said earnings failed to justify the high valuation.
There may be more pain ahead as 1.7 billion Facebook shares held by early investors and employees are set to hit the market as the lockup period expires over the next few months.
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The company’s shares at one point dipped to $19.95, before coming back up slightly. At last check, the stock was worth $19.99 per share.
The continuing slide of the stock price comes on the heels of worries over Facebook’s revenue growth, marketing costs and mobile business.
Shares of the company have fallen about 26% since it posted a loss of $157 million in its first quarterly earnings report last week.
Revenue, which increased 32% year over year to $1.18 billion, met Wall Street’s expectations, but investors pummeled the stock and analysts said earnings failed to justify the high valuation.
There may be more pain ahead as 1.7 billion Facebook shares held by early investors and employees are set to hit the market as the lockup period expires over the next few months.
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Friday, July 27, 2012
Facebook Stock Predictions 2013
Facebook Stock Predictions 2013, facebook stock projections 2013 : Facebook stock plunged Friday after the company reported slowing revenue growth.In midday trading, the stock had rebounded a bit from being down nearly 15%. It was trading down 11% to $23.84. It closed Thursday at $26.85. Facebook's first earnings report as a public company had solid numbers, but it landed with a thud after the market closed Thursday.
In the quarter ending June 30, Facebook posted a net loss of $157 million, or 8 cents a share, compared to a profit of $240 million, or 11 cents a share, in the year-ago period. On an adjusted basis, earnings came in at $295 million, or 12 cents a share while sales rose 32% to $1.18 billion, meeting consensus estimates of 12 cents a share on revenue of $1.15 billion.
Of that revenue, advertising grew 28% year-over-year to $992 million, far above the $921 million consensus. Advertising revenue accounts for 84% of Facebook's total sales. .Also worth noting is that the company reported that cash and marketable securities grew to $10.2 billion, which includes $6.8 billion in net proceeds from the initial public offering.
What’s more, even at these lows, the stock still looks expensive. It fetches 45 times expected 2012 earnings of 50 cents a share and 35 times 2013 earnings of 64 cents a share. While it’s far from the valuations discussed prior to the IPO, the stock still enjoys a hefty growth multiple. Critics enjoy pointing out that Apple trades at 13 times 2012 earnings, and that Google goes for 13.5 times. At those valuations, profits would rise 60% and 18%, respectively. Facebook’s profit is seen rising only 14%.
Facebook phone coming mid-2013
Facebook, owner of the largest social network, is working with HTC to build its own smartphone for release as soon as mid-2013, people with knowledge of the matter said. The companies had intended to release the device as early as the end of this year, and pushed back the timetable to give HTC more time to work on other products, said some of the people, who requested anonymity because the plans aren't public. Facebook is also developing a modified operating system for the device and has assembled a team of former Apple programmers to improve its iPhone application, people said. Read More..
Zynga has announced the release in early 2013 of its poker application that will involve real-money gaming.
Over the past year, Zynga has struggled to keep its foothold in the mobile gaming market as new entrants have entered the industry. Zynga’s solution: real-money poker, which is set to launch in the first half of 2013 in international markets. Read More..
Facebook Earnings: Analysts Calmer Than Stock Plunge
Overall results were better than feared, particularly after Zynga’s weak performance a day earlier. Importantly, we believe the company provided good detail on early traction of its new ad formats and initiatives, and we continue to expect revenue re-acceleration in the back half of 2012 and into 2013… We recognize that Facebook shares movements could disconnect from operating performance in the near term as lock-up expirations become a focal point for many investors Read More..
What to Expect When Facebook Is Expecting: Five Predictions for Facebook’s First Public Year
Mark Zuckerberg’s baby will be coming of age in a few days, just eight years after it was born in a Harvard dorm room. We’ve been there for the first steps, and the first missteps. But do any of us know what Facebook-all-grown-up-as-a-public-company will look like? I have five predictions of how Facebook will be maturing in the first year after its IPO Read More..
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In the quarter ending June 30, Facebook posted a net loss of $157 million, or 8 cents a share, compared to a profit of $240 million, or 11 cents a share, in the year-ago period. On an adjusted basis, earnings came in at $295 million, or 12 cents a share while sales rose 32% to $1.18 billion, meeting consensus estimates of 12 cents a share on revenue of $1.15 billion.
Of that revenue, advertising grew 28% year-over-year to $992 million, far above the $921 million consensus. Advertising revenue accounts for 84% of Facebook's total sales. .Also worth noting is that the company reported that cash and marketable securities grew to $10.2 billion, which includes $6.8 billion in net proceeds from the initial public offering.
What’s more, even at these lows, the stock still looks expensive. It fetches 45 times expected 2012 earnings of 50 cents a share and 35 times 2013 earnings of 64 cents a share. While it’s far from the valuations discussed prior to the IPO, the stock still enjoys a hefty growth multiple. Critics enjoy pointing out that Apple trades at 13 times 2012 earnings, and that Google goes for 13.5 times. At those valuations, profits would rise 60% and 18%, respectively. Facebook’s profit is seen rising only 14%.
Facebook phone coming mid-2013
Facebook, owner of the largest social network, is working with HTC to build its own smartphone for release as soon as mid-2013, people with knowledge of the matter said. The companies had intended to release the device as early as the end of this year, and pushed back the timetable to give HTC more time to work on other products, said some of the people, who requested anonymity because the plans aren't public. Facebook is also developing a modified operating system for the device and has assembled a team of former Apple programmers to improve its iPhone application, people said. Read More..
Zynga has announced the release in early 2013 of its poker application that will involve real-money gaming.
Over the past year, Zynga has struggled to keep its foothold in the mobile gaming market as new entrants have entered the industry. Zynga’s solution: real-money poker, which is set to launch in the first half of 2013 in international markets. Read More..
Facebook Earnings: Analysts Calmer Than Stock Plunge
Overall results were better than feared, particularly after Zynga’s weak performance a day earlier. Importantly, we believe the company provided good detail on early traction of its new ad formats and initiatives, and we continue to expect revenue re-acceleration in the back half of 2012 and into 2013… We recognize that Facebook shares movements could disconnect from operating performance in the near term as lock-up expirations become a focal point for many investors Read More..
What to Expect When Facebook Is Expecting: Five Predictions for Facebook’s First Public Year
Mark Zuckerberg’s baby will be coming of age in a few days, just eight years after it was born in a Harvard dorm room. We’ve been there for the first steps, and the first missteps. But do any of us know what Facebook-all-grown-up-as-a-public-company will look like? I have five predictions of how Facebook will be maturing in the first year after its IPO Read More..
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Saturday, July 21, 2012
Facebook stock outlook next week july 23-27, 2012
Facebook stock outlook next week july 23-27, 2012, Facebook earning estimates, Facebook EFS prediction : Facebook faces immense pressure to beat Wall Street's financial targets when its delivers its inaugural quarterly earnings report next week, hoping to wash away the bad taste left with investors from a soured IPO.
The No 1 social networking company's second-quarter report on July 26 will be scrutinised by investors looking for clues on the health of its business, which is experiencing a sharp slowdown in revenue growth and mounting questions about its advertising sales.
With a rich multiple that gave Facebook the distinction of being the first US company to go public with a valuation of more than $100 billion, the company headed by 28-year-old Mark Zuckerberg has little room for error.
there are also plenty of reasons to believe that Facebook will impress the cynics next week. Let's dive right in.
1. The IPO drought has come and gone
An immediate reaction to Facebook's cascading debut was to slam the brakes on the IPO market. Prospective debutantes didn't even dare to go public in the wake of Facebook's belly-flop, and it was several weeks before any company had the gall to actually go public.
That was been just two months ago, but the market has returned to embracing dot-com IPOs. Kayak (NAS: KYAK) , the popular website that scours several travel websites and providers to aggregate rates on lodging and flights, went public on Friday.
There was no more Facebook fallout. Kayak's stock opened a hearty 14% higher than its IPO price.
2. The ads are adding up
Investors have been concerned about the effectiveness of Facebook ads -- in part because of GM's defection -- and the challenges of monetizing the mobile platform that is quickly become the way users engage with the site.
There was some encouraging news on both fronts earlier this week.
TBG Digital's Global Facebook Advertising Report Q2 2012 finds that advertisers are now paying 58% more per impression on Facebook than they were a year ago. That's a sharp contrast to Google (NAS: GOOG) , which reported this week that advertisers were paying 16% less for a lead on its website in its latest quarter.
Companies are paying more on Facebook because the website is getting better at targeting its ads. Its latest move, inserting in news feeds "sponsored" posts by companies that a Facebook friend already likes, has been a brilliant way to improve its desktop marketing effectiveness and introduce advertising in mobile. TBG Digital's study shows that click-through rates have moved 11% higher over the past year.
Between the higher ad rates and healthier click levels, Facebook's revenue and profitability should be growing dramatically faster than what may be a merely modest increase in page views.
3. You get only one chance to make a first impression
Facebook was reluctant to go public and Mark Zuckerberg isn't a fan of traditional rites of public companies, but the company knows how important this quarter will be.
Analysts see Facebook earning $0.12 a share when it reports on Thursday. The smart money has to be on a bottom-line beat.
Sure, Zuckerberg doesn't want to resort to managing earnings. The last thing he wants is to spoil investors into expecting quarterly miracles on the bottom line. However, Zuckerberg knows that this matters. A bad report will translate into a sluggish share price, and a busted IPO will make it that much harder to retain important employees and attract new ones.
There may very well be a quarter when Zuckerberg thumbs his nose at conventional expectations, but it won't happen now. Facebook won't miss at a time when its IPO has become a comedic punch line. There's a lot to prove, and for once Zuckerberg will live up to his role as a CEO of a public company.
A discounted share price and a strong report should help move Facebook higher in the week ahead.
Facebook profit estimates July 26 2012
Facebook Inc (Nasdaq: FB) is engaged in building products to create utility for users, developers, and advertisers. The company has a market capitalization of $62.58 billion. It is expected to report FY 2012 second-quarter EPS of 12 cents on revenue of $1.15 billion. Facebook is trading around $29.23 a share, 23 percent below its IPO price of $38.
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The No 1 social networking company's second-quarter report on July 26 will be scrutinised by investors looking for clues on the health of its business, which is experiencing a sharp slowdown in revenue growth and mounting questions about its advertising sales.
With a rich multiple that gave Facebook the distinction of being the first US company to go public with a valuation of more than $100 billion, the company headed by 28-year-old Mark Zuckerberg has little room for error.
there are also plenty of reasons to believe that Facebook will impress the cynics next week. Let's dive right in.
1. The IPO drought has come and gone
An immediate reaction to Facebook's cascading debut was to slam the brakes on the IPO market. Prospective debutantes didn't even dare to go public in the wake of Facebook's belly-flop, and it was several weeks before any company had the gall to actually go public.
That was been just two months ago, but the market has returned to embracing dot-com IPOs. Kayak (NAS: KYAK) , the popular website that scours several travel websites and providers to aggregate rates on lodging and flights, went public on Friday.
There was no more Facebook fallout. Kayak's stock opened a hearty 14% higher than its IPO price.
2. The ads are adding up
Investors have been concerned about the effectiveness of Facebook ads -- in part because of GM's defection -- and the challenges of monetizing the mobile platform that is quickly become the way users engage with the site.
There was some encouraging news on both fronts earlier this week.
TBG Digital's Global Facebook Advertising Report Q2 2012 finds that advertisers are now paying 58% more per impression on Facebook than they were a year ago. That's a sharp contrast to Google (NAS: GOOG) , which reported this week that advertisers were paying 16% less for a lead on its website in its latest quarter.
Companies are paying more on Facebook because the website is getting better at targeting its ads. Its latest move, inserting in news feeds "sponsored" posts by companies that a Facebook friend already likes, has been a brilliant way to improve its desktop marketing effectiveness and introduce advertising in mobile. TBG Digital's study shows that click-through rates have moved 11% higher over the past year.
Between the higher ad rates and healthier click levels, Facebook's revenue and profitability should be growing dramatically faster than what may be a merely modest increase in page views.
3. You get only one chance to make a first impression
Facebook was reluctant to go public and Mark Zuckerberg isn't a fan of traditional rites of public companies, but the company knows how important this quarter will be.
Analysts see Facebook earning $0.12 a share when it reports on Thursday. The smart money has to be on a bottom-line beat.
Sure, Zuckerberg doesn't want to resort to managing earnings. The last thing he wants is to spoil investors into expecting quarterly miracles on the bottom line. However, Zuckerberg knows that this matters. A bad report will translate into a sluggish share price, and a busted IPO will make it that much harder to retain important employees and attract new ones.
There may very well be a quarter when Zuckerberg thumbs his nose at conventional expectations, but it won't happen now. Facebook won't miss at a time when its IPO has become a comedic punch line. There's a lot to prove, and for once Zuckerberg will live up to his role as a CEO of a public company.
A discounted share price and a strong report should help move Facebook higher in the week ahead.
Facebook profit estimates July 26 2012
Facebook Inc (Nasdaq: FB) is engaged in building products to create utility for users, developers, and advertisers. The company has a market capitalization of $62.58 billion. It is expected to report FY 2012 second-quarter EPS of 12 cents on revenue of $1.15 billion. Facebook is trading around $29.23 a share, 23 percent below its IPO price of $38.
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Nasdaq Release Facebook IPO investor compensation
Nasdaq Will Release Facebook IPO investor compensation ; Nasdaq plans to release its Facebook IPO investor compensation plan next week and it will probably be more than the $40 million originally proposed, The deal will be all cash and Nasdaq is working with the Securities and Exchange Commission on a second draft of the proposal,
Facebook's first day as a public company kicked off with a 30-minute delay, after which traders complained they were not able to confirm changes or cancellations made to Facebook orders. Later on in the morning, some traders said they had not received confirmation from Nasdaq that transactions had actually been completed.
Nasdaq's proposed $40 million deal didn't quell upset investors. The original plan, which will be reviewed by the Securities and Exchange Commission after public comment, had the exchange paying $13.7 million in cash to member firms that suffered losses, including the profit it made from first-day trading. The rest would come in the form of trading discounts. Some investors estimated the total amount of losses to be close to $200 million. (source www.foxbusiness.com )
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Facebook's first day as a public company kicked off with a 30-minute delay, after which traders complained they were not able to confirm changes or cancellations made to Facebook orders. Later on in the morning, some traders said they had not received confirmation from Nasdaq that transactions had actually been completed.
Nasdaq's proposed $40 million deal didn't quell upset investors. The original plan, which will be reviewed by the Securities and Exchange Commission after public comment, had the exchange paying $13.7 million in cash to member firms that suffered losses, including the profit it made from first-day trading. The rest would come in the form of trading discounts. Some investors estimated the total amount of losses to be close to $200 million. (source www.foxbusiness.com )
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Sunday, June 10, 2012
Facebook stock outlook weekly june 11-15 2012
Facebook stock outlook next week june 11-15 2012 ; Facebook (NASDAQ:FB) faced another rough day in the markets. Its shares dropped 82 cents per share (almost 3%) to close at $26.90. Earlier in the day, Bernstein Research analyst Carlos Kirjner initiated coverage on the stock and gave it an “Underperform” rating, or the equivalent of sell with a $25 price target, reported MarketWatch. Kirjner wrote in his research note that Facebook is about to face several issues that could affect its revenue growth.
Facebook (NASDAQ:FB) underwent another down day on Tuesday with a 3.83 percent decline to $25.87. Not helping matters was a new Reuters/Ipsos poll that disclosed a declining interest in the social networking site and only a minority of users letting ads and comments affect their purchasing decisions.
Facebook (NASDAQ:FB) announced Thursday it plans to launch an app center for its mobile platform that would allow users to get personalized app recommendations on their smartphones. The app store will let users download Facebook-integrated apps for both Apple’s (NASDAQ:AAPL) iOS and Google’s (NASDAQ:GOOG) Android devices, including popular apps like Instagram, Pinterest, and Draw Something.
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Facebook (NASDAQ:FB) underwent another down day on Tuesday with a 3.83 percent decline to $25.87. Not helping matters was a new Reuters/Ipsos poll that disclosed a declining interest in the social networking site and only a minority of users letting ads and comments affect their purchasing decisions.
Facebook (NASDAQ:FB) announced Thursday it plans to launch an app center for its mobile platform that would allow users to get personalized app recommendations on their smartphones. The app store will let users download Facebook-integrated apps for both Apple’s (NASDAQ:AAPL) iOS and Google’s (NASDAQ:GOOG) Android devices, including popular apps like Instagram, Pinterest, and Draw Something.
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Thursday, May 31, 2012
U.S. stocks open dow jones down may 31 2012
U.S. stocks market open dow jones down may 31 2012, facebook shares prices 5/31/2012 : U.S. stocks opened lower on Thursday, after the release of disappointing U.S. economic reports while concerns over the handling of Spain’s worsening financial crisis continued to weigh on market sentiment. During early U.S. trade, the Dow Jones Industrial Average fell 0.31%, the S&P 500 index dropped 0.54%, while the Nasdaq Composite index retreated 0.68%.
Data showed earlier that manufacturing activity in the Chicago area slowed significantly more-than-expected in May, falling to the lowest level since September 2009.
The report came after official data showed that first quarter gross domestic product was revised to 1.9%, in line with expectations, from an initial estimate of 2.2%.
In addition, the Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week rose to 383,000, defying expectations for a decline to 370,000, while a separate report showed that the U.S. private sector added 133,000 jobs in May, missing expectations for an increase of 148,000.
Sentiment was also vulnerable as ongoing worries over the situation in Spain, where mounting borrowing costs and the lack of a convincing plan to recapitalize stricken lender Bankia fuelled fears that Madrid will be forced to seek an international bailout.
Morgan Stanley saw shares rise 0.31% after Chairman and Chief Executive James Gorman defended his bank’s performance as lead underwriter on Facebook’s IPO, despite waves of criticism from investors and a potential legal review of the deal’s marketing.
The investment bank also said it plans to buy 14% more of Smith Barney from Citigroup and will begin a 90-day process determine the fair market value of the additional stake. Citigroup shares were up 0.54% after the news.
As for Facebook, shares gained 0.71%, but the stock still remained close to USD28, well below its IPO valuation price of USD38.
Elsewhere, Talbots skyrocketed 95.74% after private equity firm Sycamore Partners said it will acquire the women's clothing chain in a deal worth about USD193 million in cash.
Retailer giant Costco edged up only 0.02% after posting a 4% rise in comparable sales in May, falling short of analysts' forecasts as a strong dollar hurt the value of its sales overseas. Rivals Target and TJX were up 0.36% and 0.94% respectively.
On the downside, TiVo shares plunged 2.68% after reporting a bigger-than-expected quarterly loss and forecast another loss for the current quarter as the maker of digital television recorders fights costly legal battles to protect its patents.
Mining equipment maker Joy Global also tumbled 7.77% after saying it expects order rates to moderate and sales to remain unchanged over the next few quarters.
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Data showed earlier that manufacturing activity in the Chicago area slowed significantly more-than-expected in May, falling to the lowest level since September 2009.
The report came after official data showed that first quarter gross domestic product was revised to 1.9%, in line with expectations, from an initial estimate of 2.2%.
In addition, the Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week rose to 383,000, defying expectations for a decline to 370,000, while a separate report showed that the U.S. private sector added 133,000 jobs in May, missing expectations for an increase of 148,000.
Sentiment was also vulnerable as ongoing worries over the situation in Spain, where mounting borrowing costs and the lack of a convincing plan to recapitalize stricken lender Bankia fuelled fears that Madrid will be forced to seek an international bailout.
Morgan Stanley saw shares rise 0.31% after Chairman and Chief Executive James Gorman defended his bank’s performance as lead underwriter on Facebook’s IPO, despite waves of criticism from investors and a potential legal review of the deal’s marketing.
The investment bank also said it plans to buy 14% more of Smith Barney from Citigroup and will begin a 90-day process determine the fair market value of the additional stake. Citigroup shares were up 0.54% after the news.
As for Facebook, shares gained 0.71%, but the stock still remained close to USD28, well below its IPO valuation price of USD38.
Elsewhere, Talbots skyrocketed 95.74% after private equity firm Sycamore Partners said it will acquire the women's clothing chain in a deal worth about USD193 million in cash.
Retailer giant Costco edged up only 0.02% after posting a 4% rise in comparable sales in May, falling short of analysts' forecasts as a strong dollar hurt the value of its sales overseas. Rivals Target and TJX were up 0.36% and 0.94% respectively.
On the downside, TiVo shares plunged 2.68% after reporting a bigger-than-expected quarterly loss and forecast another loss for the current quarter as the maker of digital television recorders fights costly legal battles to protect its patents.
Mining equipment maker Joy Global also tumbled 7.77% after saying it expects order rates to moderate and sales to remain unchanged over the next few quarters.
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Wednesday, May 30, 2012
Facebook stock outlook may 31 2012
Facebook stock outlook may 31 2012, Facebook stock closed may 30 2012 ; After a brief reprieve in morning trading, Facebook's stock once again closed lower on Wednesday, nearly $10 below its initial public offering price.
Shares of Facebook Inc. dropped 65 cents, or 2.3 percent, to close at $28.19. It's the third consecutive trading day the stock has dropped from the previous close. It got some relief earlier in the day, going as high as $29.55.
Wednesday's close is down about 26 percent from the stock's IPO price of $38. Facebook began trading on the Nasdaq Stock Market on May 18. The day started with a delay due to trading market glitches and didn't get much better from there.
Still, the IPO raised $16 billion for Facebook and early investors, making it one of the largest IPOs ever. But many investors were expecting the stock to go higher on the first day. Instead, it went up less than 1 percent to $38.23 that day, before falling since then.
Wednesday was a down day for the broader market as well, with the Dow Jones industrial average closing down 161 points. Other social media stocks, such as Zynga Inc. and Yelp Inc., also headed lower.
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Shares of Facebook Inc. dropped 65 cents, or 2.3 percent, to close at $28.19. It's the third consecutive trading day the stock has dropped from the previous close. It got some relief earlier in the day, going as high as $29.55.
Wednesday's close is down about 26 percent from the stock's IPO price of $38. Facebook began trading on the Nasdaq Stock Market on May 18. The day started with a delay due to trading market glitches and didn't get much better from there.
Still, the IPO raised $16 billion for Facebook and early investors, making it one of the largest IPOs ever. But many investors were expecting the stock to go higher on the first day. Instead, it went up less than 1 percent to $38.23 that day, before falling since then.
Wednesday was a down day for the broader market as well, with the Dow Jones industrial average closing down 161 points. Other social media stocks, such as Zynga Inc. and Yelp Inc., also headed lower.
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Facebook stock prices today down may 30 2012
Facebook stock prices today down may 30 2012 : Facebook's stock has fallen below $30 for the first time since its much-awaited public debut this month. The stock fell $3.07, or 9.6 percent, to close at $28.84 on Tuesday. That's down 24 percent since its public stock debut. It went as low as $28.65 earlier in the day.
Facebook Inc. began trading publicly on May 18 following one of the most anticipated stock offerings in history.
The site, which was born in a Harvard dorm room eight years ago and has grown into a worldwide network of almost a billion people, was supposed to offer proof that social media is a viable business and more than a passing fad.
Facebook's initial public offering of stock priced at $38 and raised $16 billion for Facebook and some of its early investors. It had valued the company at $104 billion - more than Amazon.com Inc., at $98 billion, at the time.
But the stock's public debut was marred by technical glitches at the Nasdaq Stock Market that delayed trading.
And the company, along with the investment banks that led the IPO, is the subject of at least two shareholder lawsuits. They allege that analysts at the large underwriting investment banks cut their financial forecasts for Facebook just before the IPO and told only a handful of clients. Morgan Stanley has declined to comment. Facebook calls the lawsuits "without merit."
Wedbush analyst Michael Pachter said that Facebook's stock has been hurt by what he called "near-term issues" that include the Nasdaq glitches, an oversupply of stock that was being offered and the allegations of selective information disclosure.
But he rates the stock "Outperform" and has a 12-month target price of $44.
"Facebook has built a huge moat between it and its competitors, and we endorse Mr. Zuckerberg's mission," he wrote in a note to investors Tuesday, referring to Facebook CEO and founder Mark Zuckerberg.
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Facebook Inc. began trading publicly on May 18 following one of the most anticipated stock offerings in history.
The site, which was born in a Harvard dorm room eight years ago and has grown into a worldwide network of almost a billion people, was supposed to offer proof that social media is a viable business and more than a passing fad.
Facebook's initial public offering of stock priced at $38 and raised $16 billion for Facebook and some of its early investors. It had valued the company at $104 billion - more than Amazon.com Inc., at $98 billion, at the time.
But the stock's public debut was marred by technical glitches at the Nasdaq Stock Market that delayed trading.
And the company, along with the investment banks that led the IPO, is the subject of at least two shareholder lawsuits. They allege that analysts at the large underwriting investment banks cut their financial forecasts for Facebook just before the IPO and told only a handful of clients. Morgan Stanley has declined to comment. Facebook calls the lawsuits "without merit."
Wedbush analyst Michael Pachter said that Facebook's stock has been hurt by what he called "near-term issues" that include the Nasdaq glitches, an oversupply of stock that was being offered and the allegations of selective information disclosure.
But he rates the stock "Outperform" and has a 12-month target price of $44.
"Facebook has built a huge moat between it and its competitors, and we endorse Mr. Zuckerberg's mission," he wrote in a note to investors Tuesday, referring to Facebook CEO and founder Mark Zuckerberg.
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