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.
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. ...
Facebook stock climbs, but company faces lawsuits Facebook'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: source SAN 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. ...
Cricketer fined over twitter rant![England cricketer Kevin Pietersen, pictured May 18, was fined an "undisclosed sum"](http://l1.yimg.com/bt/api/res/1.2/RasdBPPNcHKU7rDKhFysdQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/AFP/photo_1337813717567-1-0.jpg "England cricketer Kevin Pietersen, pictured May 18, was fined an "undisclosed sum"") Kevin 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.
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 mount Almost 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 perspective Facebook 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 IPO Lawsuits 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 Cannes Twitter 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 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."
Fake Facebook Suicide Gets Teen Suspended From SchoolA Facebook page and a six minute video tell the story of a 12-year-old girl whose mother died when she was 3 years old, grew up being abused by her father and bullied on her Facebook page. Eventually, the girl commits suicide.
Facebook stock climbs after rocky startFacebook's stock is climbing higher, a reprieve for shareholders after the stock's rocky inaugural trading day Friday was followed by a two-day decline.
Facebook's botched IPO: Winners and losersThe social network's entry into the stock market is off to a disastrous start, and as the dust settles, it's clear some players made out worse than others
Facebook told analysts to cut forecasts before IPO(Reuters) - As Facebook Inc officials traveled the country to talk up the company's $16 billion initial public offering, the social networking giant advised analysts for underwriters to reduce revenue and earnings forecasts, according to people with direct knowledge of the matter. The advice came around May 9, the day the company published an amended prospectus that included a cautionary note about how Facebook's users were increasingly using mobile devices, which generate less advertising revenue for the company. ...
Needham starts Facebook with buy, $40 price target(Reuters) - Brokerage Needham & Co started coverage on Facebook Inc with a "buy" rating, a rare positive take on the shares of the social network after they lost nearly a fifth of their value since the company's stock started trading last Friday. Facebook should be valued based on the revenue potential from total minutes spent on the website, Needham analysts said, setting a $40 price target on the stock. Facebook shares were up 4 percent at $32.35 in early trade on the Nasdaq. ...
Does Social Media Marketing Really Work? [INFOGRAPHIC]From Twitter to Facebook, to Google+, to YouTube, to Foursquare and more, social media use is the hottest thing in marketing. But does it really work?
We Should Have Known About Facebook's Shady IPO After days of stock-market failure, we find out the real deal behind Facebook's IPO preparations, which show a disconnect between institutional investors on the inside and the rest of the world on the outside. It's a disconnect we should have noticed during the media's constant roadshow coverage.
LA designer says Facebook bride wore her dress![This photo provided by Facebook and released on Tuesday, May 22, 2012, shows Facebook founder and CEO Mark Zuckerberg and Priscilla Chan at their wedding ceremony in Palo Alto, Calif., Saturday, May 19, 2012. Zuckerberg updated his status to "married" on Saturday. The ceremony took place in Zuckerberg's backyard before fewer than 100 guests, who all thought they were there to celebrate Chan's graduation. (AP Photo/Facebook, Noah Kalina Photography)](http://l3.yimg.com/bt/api/res/1.2/0yHk_wBUMB15Wjzq6RSekw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/581f199e6621620e100f6a706700c79b.jpg "This photo provided by Facebook and released on Tuesday, May 22, 2012, shows Facebook founder and CEO Mark Zuckerberg and Priscilla Chan at their wedding ceremony in Palo Alto, Calif., Saturday, May 19, 2012. Zuckerberg updated his status to "married" on Saturday. The ceremony took place in Zuckerberg's backyard before fewer than 100 guests, who all thought they were there to celebrate Chan's graduation. (AP Photo/Facebook, Noah Kalina Photography)") Los Angeles-based designer Claire Pettibone says Priscilla Chan was wearing one of her dresses when she married Facebook CEO Mark Zuckerberg.
Senate Banking Committee Eyes Facebook IPO FlapThe Senate Banking Committee is looking into reports that banks involved with Facebook's IPO shared vital earnings information with only a few people, a Democratic committee aide told National Journal on Wednesday.
Facebook to target Mideast with office in DubaiFacebook is not letting a slumping stock get in the way of its global growth ambitions.
Ahead of the Bell: Facebook shares start climbingFacebook shares climbed Wednesday in premarket trading after its long-awaited initial public offering was followed by a two-day slide in stock price.
Some Lessons From the Facebook IPOI have no idea whether Facebook stock will ultimately pan out to be a solid investment. In the short term, the stock is in the red following its IPO debut. A few thoughts:
Regulators probe bank's role in Facebook IPO Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst's negative report about the company before the stock started trading.
Former Twitter CTO Takes Key Role at Cornell's NYC Tech CampusCornell University is building a revolutionary technology campus in New York City in collaboration with the Technion-Israel Institute of Technology, and filling a key role at the school will be former Twitter Chief Technology Officer Greg Pass.
Rovio Launches Facebook Game, 'Angry Birds Friends'Rovio announced a new social, competitive addition to the Angry Birds universe Wednesday morning.
Facebook Timeline as an Infectious Disease [VIDEO]Do you have Timeline? No matter how safe you are, you will eventually get it -- and there's nothing you can do about it.
Facebook, Zuckerberg, Morgan Stanley Sued Over IPO [REPORT]Shareholders have sued Facebook and CEO Mark Zuckerberg over the company's bungled IPO, charging they hid bearish forecasts prior to going public, according to a report.
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