Early Facebook mutual fund buyers still in money(Reuters) - Fidelity Investments and other big mutual fund families that were early backers of Facebook Inc are likely still winners despite the social network's troubled stock market debut. Facebook shares were priced at $38 per share in its initial public offering on Thursday. Despite an initial bump in their market debut on Friday, the shares fell on Monday, closing down 11 percent at $34.03. The decline prompted much hand-wringing among technology investors who had expected a bigger boost for the widely used social networking service. ...
Ubisoft’s Ghost Recon comes to Facebook [video]Facebook, the world’s largest social networking site, is filled with a large selection of social and casual games, such as Draw Something, Words With Friends and FarmVille. While the topic of Facebook gaming is widely discussed, there isn’t much there in the way of titles that would attract the hardcore gaming crowd. Ubisoft is looking to change that, however, with the release of Tom Clancy’s Ghost Recon Commander. The game, unlike its console counterpart, is not a first-person shooter but instead a 2D game with an overhead viewpoint that contains both social and more complex aspects. Players are given the option to invite and team up with their Facebook friends to form alliances and complete a variety of missions. The
Facebook Growing Up, Losing HypeCOMMENTARY | According to the Associated Press and CNN, Facebook's stock has not performed as hoped following its release. The stock began to slide shortly after its IPO release Friday, peaking briefly before falling below its $38 IPO price. Investors and the public are wondering what the weak stock market start means for the world's most popular social networking site, which was begun eight years ago in a Harvard dorm room by Mark Zuckerberg.
US shares score solid gains but Facebook flopsUS shares racked up strong gains Monday with the Nasdaq adding nearly 2.5 percent helped by an Apple surge, but Facebook shares flipped below their IPO price on their first full day of trading.
Facebook shares plunge below IPO priceFacebook shares plunged nearly 11 percent Monday during the stock's first full day of trade as the enthusiasm from a massive public offering for the social network giant turned to skepticism.
Facebook shares sink 11 percent as reality overtakes hype(Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks. Facebook's debut was beset by problems, so much so that Nasdaq said on Monday it was changing its IPO procedures. That may comfort companies considering a listing, but does it little for Facebook, whose lead underwriter, Morgan Stanley, had to step in and defend the $38 offering price on the open market. ...
Wall Street rebounds, but investors dump FacebookNEW YORK (Reuters) - Stocks rose more than 1 percent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities' biggest weekly drop in almost six months, but Facebook slumped in its second session after a disappointing debut. Tech shares were among the day's biggest gainers, with an S&P sector index surging 2.8 percent on the strength of Apple Inc . Shares of Apple climbed 5.8 percent to $561.28, leading the Nasdaq to its biggest one-day percentage gain since December 2011. ...
Some investors still await confirmation on Facebook ordersNEW YORK (Reuters) - Some customers of Fidelity Investments, Morgan Stanley and Charles Schwab are still waiting to see if their trades for Facebook shares were completed on Friday. Massive demand for the social networking giant's initial public offering on Friday, which set a trading volume record for U.S. market debuts, led to a 30-minute delay in the start of trading in the stock. After the shares began trading, Nasdaq had problems confirming trade orders to investors, resulting in confusion over what trades had been executed. ...
Where are Facebook's friends? Stock down after IPOFacebook's stock is tumbling well below its $38 IPO price in the social network's second day of trading as a public company on Monday.
The Facebook Effect: Zynga, other stocks downFacebook's tepid start as a publicly traded company dragged other social media and related stocks lower on Monday.
Stock market breaks losing streak; Facebook fallsAfter three weeks of dumping stocks, investors finally found something to be hopeful about.
Investors relieved they got shut out of Facebook IPONEW YORK (Reuters) - Curtis Arnold tried to buy Facebook Inc stock 10 times throughout the day on Friday through his online brokerage, E*Trade Financial Inc. Each time, he tried to make the $25,000 purchase of shares, E*Trade's trading site either timed out or he received a message that said trading in the stock had halted, Arnold said. "I finally got so frustrated that I quit," he said. Now that the stock is trading 10 percent below its original $38-per-share price, Arnold, who is founder of credit card rating site Cardratings.com, said he is relieved. ...
Facebook's underwhelming IPO: Proof the stock was overhyped?The company made a big splash in the stock market last week, raising a whopping $16 billion. This week, its share price is already plunging
Stocks gain on Wall Street; Facebook fallsAfter a weekend that brought both fresh concerns about Europe and hopeful signs about China, investors decided to focus on the latter.
Chelsea Dominated Champions League Final on Twitter [INFOGRAPHIC]London soccer club Chelsea won its first Champions League title on Saturday, defeating German side Bayern Munich to become Europe's best team. It was a nail-biting close final match that went down to a penalty shoot-out.
Facebook investors left guessing after Nasdaq glitch(Reuters) - Individual investors were left in the dark for hours on Friday about whether their buy and sell orders for newly issued Facebook shares had actually been executed, in the latest of a series high-profile exchange glitches in recent years. Massive demand for the social networking giant's initial public offering, which set a trading volume record for U.S. market debuts, led to a 30-minute delay in the start of trading in the stock. But it was what happened after trading started that had some on Wall Street fuming. ...
Facebook Droops and a Bubble BurstsEven as the stock market pounds Facebook's freshly issued shares, analysts and techies are still defending the newest public company. After Friday's debacle, which was in part caused by technical glitches, which Nasdaq says it has now fixed, the Facebook sympathizers told us to wait. Day one wouldn't tell the whole story. But Facebook's second day on the market hasn't eased our fears that we're in a social media bubble. In fact, it only suggests the bubble is coming to its end.
HS Student's Social-Media-Fueled Campaign Propels Him Into Local OfficeJosh Lafazan, an 18-year-old high school senior from Syosset, New York, shattered all kinds of records when he was elected to his school district's board last week. He became the youngest-ever elected official in New York state, and voter turnout was well above normal.
Nasdaq alters IPO procedures after Facebook glitchNEW YORK (Reuters) - Nasdaq OMX Group Inc said it is changing its initial public offering trading procedures following glitches in Facebook Inc's market debut that left some traders unsure if their orders for shares had been completed. The exchange operator said in a statement on Monday that modifications to its IPO procedures would prevent a repetition of the Friday problems with Facebook. Nasdaq Chief Executive Robert Greifeld said in a conference call with reporters on Sunday that there had been a malfunction in the trading system's design for processing order cancellations. ...
Facebook IPO Will Go Down in the 'Like' ColumnCOMMENTARY | Facebook had a big week last week when the long-awaited IPO of the company was completed, CBS News reported. Instead of the social networking company watching its share price climb from the $38 issue the mark, the company had to settle for a modest closing price of $38.23 per share. But the lack of a skyrocketing price indicates the debut price was right on target.
Nasdaq announces plan for unfilled Facebook ordersNEW YORK (Reuters) - Nasdaq has engaged federal regulators to untangle the problems that occurred at the opening of Facebook Inc's initial public offering on Friday that could eventually result in financial restitution for investors who did not get shares at the desired price. The Financial Industry Regulatory Authority will review requests from investors whose orders were not filled at the opening cross price of $42 or were filled at an inferior price, the Nasdaq said in a statement. FINRA will report on the total value of investor claims to Nasdaq. ...
Katy Perry Gives New Video the Facebook Timeline TreatmentKaty Perry's new music video for "Wide Awake," a song the pop star debuted at Sunday's Billboard Music Awards, tells the story of her recent career events as displayed through Facebook's Timeline feature.
Stocks open higher on Wall Street; Facebook fallsStocks rose Monday morning as investors latched onto a survey suggesting that economists are more optimistic about housing and unemployment.
Facebook Shares Plunge Below IPO PriceShares of Facebook plunged below its IPO price and previous close, opening down 11 percent to $33.83 on Monday morning. Facebook stock closed at about $38.23 on Friday evening, only slightly above its IPO price of $38 a share set on Thursday night. “Facebook is...
If Facebook hosted a constitutional conventionIs Facebook bigger than the Constitution? In some ways, the social network already is, but it may not be big enough to host a constitutional convention.
Facebook Stock Is FallingDo you hear that? That's the sound of the vaunted Facebook stock falling around 5 points or 13 percent in the stock market this morning. That other sound you may hear is investors panicking. Not a good way to start the morning for the sexiest IPO of all time.
Nasdaq alters IPO procedures after Facebook glitchNEW YORK (Reuters) - Nasdaq OMX Group Inc said on Monday it is changing its initial public offering trading procedures following glitches in Facebook Inc's market debut at the end of last week that prevented some traders from knowing for hours whether their orders for shares had been completed. The exchange operator said in a note to traders that modifications to its IPO and halt cross application would prevent the problems that occurred on Friday from recurring. (Reporting By John McCrank; Editing by Gerald E. McCormick)
Who's to Blame for Facebook's Messy IPO Debut?With a weekend to figure things out, we've got a few suspects to blame for the mess that was Facebook's IPO debut on Friday. After a late start due to glitches on NASDAQ and a possible scandal in which Morgan Stanley upheld the price of the stock, Facebook's stock ended the day just where it started. It had a mini-pop, but it didn't soar, as expected. That was not supposed to happen. ...
Nasdaq to Earmark $13 Million for Bad Trades Related to FacebookNasdaq's damage control for its Friday glitch related to Facebook's IPO continued on Monday as the exchange offered to reimburse investors as much as $13 million for bad trades, according to a report.
Nasdaq alters IPO procedures after Facebook glitchNEW YORK (Reuters) - Nasdaq OMX Group Inc said on Monday it is changing its initial public offering trading procedures following glitches in Facebook Inc's market debut at the end of last week that prevented some traders from knowing for hours whether their orders for shares had been completed. The exchange operator said in a note to traders that modifications to its IPO and halt cross application would prevent the problems that occurred on Friday from recurring. (Reporting By John McCrank; Editing by Gerald E. McCormick)
Cheryl Cole's dress: Twitter highlights from CannesSinger, TV presenter and fashion icon Cheryl Cole appeared at the Cannes Film Festival courtesy of beauty brand L'Oreal, who flew her out to the South of France for a red carpet appearance at the premiere of Michael Haneke's Amour.
Ahead of the Bell: Facebook below IPO priceFacebook Inc. stock has dropped below the initial public stock offering price in premarket trading Monday, an inauspicious start to the company's first full week of trading after its market debut Friday suffered some hiccups.
'Game of Thrones' Is Getting a Facebook GameThe popular HBO show Game of Thrones will head to Facebook as a social game.
Ahead of the Bell: Watching Facebook after the IPOFacebook Inc.'s stock will be closely watched this week after the social network's market debut on Friday suffered some hiccups.
Microsoft launches social network So.cl, claims not to compete with FacebookWhile Facebook is busy reveling over its recent IPO, Microsoft has quietly taken its own social network, So.cl, out of beta and opened it up to users around the globe.
Are You a Facebook Power User? [INFOGRAPHIC]Are you among the 20-30% of the Facebook population that's considered power users? If you've logged in to the social network already today, there's a good chance you are one of the addicted elite.
Kuwaiti pleads innocent in Twitter trialKUWAIT (Reuters) - A 26-year-old Kuwaiti pleaded not guilty on Monday to charges he insulted the Prophet Mohammad and the Sunni Muslim rulers of Saudi Arabia and Bahrain on social media, the first day of a high-profile and divisive court case in the Gulf state. Charges were brought by a civil plaintiff, who called for Shi'ite Muslim Hamad al-Naqi to be put to death, saying he must be made an example of to others. The case has stoked tensions between Kuwait's Sunnis and minority Shi'ites. ...
Facebook Down 8% in Early Morning TradingThey can't blame Nasdaq this time.
Facebook stock limps into MondayFacebook resumes trading on Wall Street on Monday with shares being closely watched to see how well they stand on their own after stumbling out of the gate in a historic but lackluster debut.
Nasdaq 'Embarrassed' Over Facebook IPO Tech GlitchesNasdaq has acknowledged the technical glitches that delayed the start of Facebook IPO for approximately 30 minutes and vexed many investors.
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