Facebook's IPO Warning Was Only for Big InvestorsSorry if you invested in that Facebook stock. We should have warned you. Or Facebook should have warned you, you know, the way it did with some of its large investors.
Here's Your Facebook Status Update"We don't have to put this on our timeline right?"
Facebook shares stabilizing, but probes mountFacebook's initial public offering is the subject of two congressional inquiries and mounting lawsuits as the social network enters its fifth day of public trading.
Facebook shares to disappoint for several quarters: analyst(Reuters) - Facebook Inc's shares will likely disappoint the market in the next several quarters as growth slows for the social network, warned a Morningstar Equity Research analyst, who urged investors to avoid taking positions in the stock at present. "While we are not intending to call for short-term moves in the stock, we do believe that slowing growth and declining profitability may cause the stock to trade significantly below our fair value estimate," said analyst Rick Summer in a note dated May 23. ...
Shareholders sue Facebook, NYSE comes callingSAN FRANCISCO (Reuters) - The fallout from Facebook Inc's messy initial public offering widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek "remedies." The Nasdaq stock exchange also came under further pressure as a source close to the situation told Reuters that NYSE Euronext had opened discussions with Facebook about a potential stock listing there. Nasdaq also faces litigation from angry investors. ...
Social media reactions to Yahoo! Axis: impressive on the iPad, risky on the desktopThe reaction to Yahoo!’s brand new visually enhanced browser, Axis, has polarized social media users. Many are impressed by the company’s iOS app while others urge users to be wary of the desktop plug-in.
Twitter index: Tweeps show love for 'American Idol' finalist Jessica SanchezWhile 16-year-old American Idol contestant Jessica Sanchez was beaten by 21-year-old Phillip Phillips during the reality TV show finale, Tweeps have taken the battle online and are showing her that she won something even more important: their love.
Did the Facebook debacle destroy the IPO market?Facebook's rocky Wall Street debut could have wider repercussions for companies that want to go public in the future
Cricketer Kevin Pietersen fined over Twitter rantKevin Pietersen was fined an "undisclosed sum" by the England and Wales Cricket Board (ECB) on Wednesday following a Twitter attack on former England batsman Nick Knight.
Has Facebook Jinxed the IPO Market for Everyone?Facebook's post-IPO meltdown has certainly been bad news for investors who got into the stock at its initial price -- or higher. Is it also bad news for the IPO market at a whole?
Morgan Stanley, others make $100 million profit on Facebook trades: WSJ(Reuters) - Morgan Stanley and other underwriters have made a profit of about $100 million stabilizing Facebook stock since trading began on Friday, the Wall Street Journal said, citing people familiar with the matter. Facebook's listing, envisioned as a crowning moment for an eight-year-old company that has become a business and cultural phenomenon, has instead turned into a legal and public relations fiasco for the company and its lead underwriter, Morgan Stanley. ...
England's Pietersen fined for Twitter comments(Reuters) - England batsman Kevin Pietersen was fined an undisclosed amount by the England and Wales Cricket Board (ECB) on Wednesday for disparaging comments he made on Twitter about a television pundit. The South African-born batsman has more than 600,000 followers on the social media site and has used the platform to deride the same commentator, former England opener Nick Knight, twice in the last year. Pietersen was summoned to a disciplinary hearing with ECB chief Hugh Morris and England coach Andy Flower on Wednesday, where the fine was handed down. ...
Facebook, JPMorgan gaffs erode faith in Wall St.Wall Street appears bent on convincing Main Street that the game is rigged.
Lawsuits mount over Facebook IPO debacleTrial lawyers smelled blood as furious investors began filing suits over losses on Facebook's disastrous $16 billion IPO, with billions of dollars possibly at stake in coming litigation.
Facebook exec ducks questions about IPO debacleBOSTON (Reuters) - Facebook Chief Operating Officer Sheryl Sandberg spoke to Harvard University students in her first public appearance since the company's disappointing initial public offering, but refrained from addressing the controversy around its messy, glitch-plagued debut. Instead, Sandberg urged students graduating this week from Harvard's business school to work for fast-growing companies, communicate honestly and address inequality in the workplace. ...
Congressional panels reviewing Facebook IPO issuesWASHINGTON (Reuters) - The U.S. House and Senate committees that oversee financial sector matters are planning to look into the issues surrounding Facebook Inc's initial public offering, aides to both committees said on Wednesday. Sean Oblack, a spokesman to the Senate Banking Committee, said the review will focus on "issues raised in the news" and that staff will be conducting briefings with "Facebook, regulators and other stakeholders. ...
Knight Capital hit by Facebook loss, wants Nasdaq to pay(Reuters) - Electronic trader Knight Capital Group said it suffered a pre-tax loss of $30 million to $35 million on the botched Nasdaq trading debut of social media giant Facebook and is demanding the exchange compensate that amount. The loss, which Knight said will be recorded in its second-quarter results, was due to numerous problems related to the Facebook initial public offering. ...
2 panels to launch review of Facebook IPOTwo congressional panels are reviewing Facebook's high-profile stock offering last week amid allegations that the bank handling the IPO may have provided only select clients with a negative assessment of the company.
Facebook stock climbs, but company faces lawsuitsFacebook's fourth day of trading as a public company saw an increase in the company's stock price and shareholder lawsuits related to the social network's botched initial public offering.
News Summary: Facebook stock up, co. faces suitsPRICING: Facebook Inc.'s fourth day of trading as a public company saw an increase in the company's stock price, after declines on Monday and Tuesday. The stock climbed $1, or 3.2 percent, to close at $32 on Wednesday.
NYSE pitches listing to Facebook after IPO mess: sourceSAN FRANCISCO (Reuters) - Facebook Inc is considering a stock-listing proposal put forward by the New York Stock Exchange, a source familiar with the situation told Reuters, in the wake of a disappointing initial public offering last week on the rival Nasdaq bourse. Facebook has exchanged phone calls and emails with NYSE Euronext and are considering their pitch, the source said without elaborating on specifics. The exact details of the NYSE's pitch to Facebook could not immediately be learned. ...
Sports Illustrated Vault: Amazing Pics Unite Social Media With HistoryWith a slick weekly iPad edition and robust cross-channel packages including its meg-hit annual swimsuit issue, Sports Illustrated has adapted to the digital age better than many legacy print publications. But social media also plays a key role in kindling nostalgia and engaging younger readers, through the Sports Illustrated vault of photos dating back to the magazine's inception in the 1950s.
Facebook exec ducks questions about IPO debacleBOSTON (Reuters) - Facebook Chief Operating Officer Sheryl Sandberg spoke to Harvard University students in her first public appearance since the company's disappointing initial public offering, but refrained from addressing the controversy around its messy, glitch-plagued debut. Instead, Sandberg urged students graduating this week from Harvard's business school to work for fast-growing companies, communicate honestly and address inequality in the workplace. ...
Knight Capital sees losses on Facebook listing glitches(Reuters) - Electronic trader Knight Capital Group Inc said its second-quarter results will be hurt by losses related to numerous issues during Facebook Inc's Nasdaq listing. A technical glitch delayed Facebook's market debut on May 18 by roughly half an hour, and later delayed order confirmations. Knight Capital, which provides electronic trading services to the brokers and other retail clients, sees a total pre-tax loss of $30 million to $35 million related to the social networking website's IPO. ...
Congressional panels reviewing Facebook IPO issuesWASHINGTON (Reuters) - The U.S. House and Senate committees that oversee financial sector matters are planning to look into the issues surrounding Facebook Inc's initial public offering, aides to both committees said on Wednesday. Sean Oblack, a spokesman to the Senate Banking Committee, said the review will focus on "issues raised in the news" and that staff will be conducting briefings with "Facebook, regulators and other stakeholders. ...
Between Facebook and JPMorgan, Wall St. woes mountAlmost four years after the financial crisis, Wall Street still can't get it right.
Prices of Facebook stock since long-awaited IPOFacebook Inc. began trading publicly last Friday following one of the most anticipated stock offerings in history. The initial public offering of stock priced at $38 a day earlier. It was at the top end of a projected range that Facebook had already increased just days earlier.
Facebook may move shares to NYSEFacebook is in talks with the New York Stock Exchange to move its stock from the Nasdaq Stock Market after a botched initial public offering on Friday, according to a person familiar with the matter.
Facebook’s record-breaking IPO put into perspectiveFacebook made its initial public offering last Friday and while it didn’t go as smoothly as many had hoped, the offering was still the largest of its kind. Facebook stock began trading at $42 on Friday before closing just above $38, the IPO price set by bankers the night before. The stock has since slid further, touching $30 in pre-market trading on Wednesday morning, and media coverage has turned sour as investors continue to balk. All things considered, however, the $16 billion Facebook raised on Friday smashed Google’s earlier record by more than eight times and made Facebook’s offering the biggest in Internet IPO history. To put things in perspective as Facebook’s stock battles to climb back to the $38 mark
Lawsuits pile up over Facebook IPOLawsuits piled up Wednesday against Facebook, its underwriters and the Nasdaq exchange as furious investors sought to recover losses after the company's $16 billion IPO debacle.
Watch Egypt's Historic Election Unfold on Social MediaIt's a historic day in Egyptian history: voters are headed to the polls to vote for the country's first president since the ousting of Hosnai Mubarak, who ruled the country from 1981 until last year during the height of the Arab Spring protests against despots across the Middle East.
Regulators, investors turn up heat over Facebook IPO(Reuters) - Two top U.S. financial regulators said on Tuesday the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its lead underwriter, Morgan Stanley, and the Nasdaq stock exchange. Facebook shares closed 8.9 percent lower at $31, following an 11 percent plunge on Monday. At that price the company has shed more than $19 billion in market capitalization from its $38-per-share offering price last week. ...
Facebook IPO: More Banker MismanagementCOMMENTARY | As if we haven't seen enough bad bank decisions, Morgan Stanley is being investigated over its handling of Facebook's horrid IPO. All Morgan Stanley had to do was release the stock for sale and let the investors buy it or not buy it with the information available. Instead, Morgan Stanley informed some of its top clients about an analyst's negative report just ahead of trading, the Associated Press reported. The major problem is Morgan Stanley did not inform the general public of Facebook's financial changes.
Morgan Stanley to adjust prices on Facebook tradesNEW YORK (Reuters) - Morgan Stanley told brokers on Wednesday it is reviewing every Facebook Inc trade and will make price adjustments for retail customers who paid too much during the social network company's debut last week, according to an internal memo. Morgan Stanley, the lead underwriter of Facebook's initial public offering on Friday, in the memo also said "many" of the first-day trades have now been processed and are appearing in client accounts. The company did not specify how much it expected to pay in total price adjustments. ...
Facebook May Unfriend Nasdaq, Hook Up With NYSE [REPORT]If Facebook and Nasdaq were in a relationship, the status would likely read: "it's complicated."
Buzz for Kristen Stewart in 'On The Road': Twitter highlights from CannesTwitter buzz was building for Palme d'Or contender On The Road and actress Kristen Stewart on May 23, ahead of the film's red carpet premiere.
Senate panel to launch review of Facebook IPOA Senate panel is reviewing Facebook's high-profile stock offering last week amid allegations that the bank handling the IPO may have provided select clients with a negative assessment of the company.
Facebook and TBS Announce Branded Comedy PartnershipCable channel TBS is teaming up with Facebook to add more branded comedy entertainment options for advertisers.
Facebook Will Weather Lawsuits and IPOCOMMENTARY | This has to be a land-speed record somewhere. Since its IPO on Friday, Facebook is facing its first maelstrom of investors angry enough over their losses to take Mark Zuckerberg and Morgan Stanley to court, according to Reuters. But are the plaintiffs justified? It's hard to tell.
Senate, House Committees Eye Facebook IPO FlapThe Senate Banking and House Financial Services committees on Wednesday both announced probes into how Facebook and bank analysts handled the social network's initial public offering."The Financial Services Committee is gathering information and facts about the issues surrounding Facebook’s IPO. Our staff is receiving briefings," House committee spokeswoman Marisol Garibay said in a statement.Garibay said no hearings are currently planned, but noted that "the committee will have hearings over the coming weeks where this topic is likely to be raised."
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