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FB
Facebook

5/23/2012, 1:19 PM ET
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FB Market Currents more »
  • 1:16 PM Morgan Stanley (MS -2.6%) has offered a price adjustment to Facebook (FB +2.5%) investors in the event they overpaid, Dow Jones reports. The news comes as lawsuits fly, politicians huff and puff, and sources tell the WSJ MS and other underwriters have made a $100M profit through "greenshoe" short positions on Facebook shares (Felix Salmon recently explained the arrangement in detail).
    Comment!
    [Tech, Financials]
  • 10:02 AM More on the class-action suit against Facebook and Morgan Stanley: The firm handling the suit previously won $7B from Enron. Its complaint alleges remarks made in Facebook's S-1 about its ad outlook were "untrue statements" in light of reports an exec told analysts to lower their forecasts. Particularly incriminating, if true, are reports institutional demand fell due to the disclosure. That would make Facebook's situation the polar opposite of what may have recently happened with Groupon.
    2 Comments
    [Tech, Financials]
  • 9:10 AM Facebook (FB), CEO Mark Zuckerberg, and the IPO underwriters face a class-action suit by shareholders over accusations they concealed from investors "a severe and pronounced reduction" in the company's revenue growth forecasts.
    19 Comments
    [Tech, Breaking News]
  • 8:38 AM Needham wades into the carnage that has been Facebook's (FB) IPO and initiates coverage with a buy rating and a price target of $40 a share vs. yesterday's close of $31. "With over 900M monthly users, we believe Facebook is an option on the World" is the cheese-filled explanation. Facebook is enjoying a bit of a bounce premarket and is +2%.
    3 Comments
    [Tech, Consumer]
  • 8:24 AM Amidst the commotion over what the sell-side told favored clients ahead of the Facebook IPO, Jeff Matthews points out the company's revenue growth (publicly available) has been sliding sharply for over a year. Maybe a bigger warning sign, Zynga - the equivalent of a hot-dog vendor in Yankee Stadium (FB is The Stadium) - is slowing at an even sharper rate. "People wanted to buy Facebook, no matter what."
    3 Comments
    [Tech]
  • Tuesday 7:53 PM Vanguard's Jack Bogle takes advantage of Facebook's (FB) plunge and the negative impact it's had on the psyche of the retail investor to hammer home the merits of index investing. Bogle says: "It all comes down to value and it all goes away from price, and avoiding IPO's and avoiding individual stocks is the best strategy for investors." (video)
    38 Comments
    [U.S. Economy, Tech]
  • Tuesday 7:10 PM As Finra and the SEC investigate allegations that analysts cut their Facebook (FB -8.9%) estimates ahead of its IPO and only shared the info with select clients, a source tells BI the estimates were cut because a Facebook exec told them to. Backing up this claim is a May 11 Bloomberg column in which sources claim Facebook is telling analysts its sales "may not meet their most optimistic projections."
    10 Comments
    [Tech]
FB in Focus more »
FB Press Releases and Filings more »
FB Latest Transcript more »
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FB Instablog posts more »
  • Market Education Of The Facebook IPO
    Wed, May 23 • Tradeplay • Comment!
  • FB Would Be Down Even If NASDAQ Didn't Mess Up!
    Wed, May 23 • Richard Bailey • Comment!
  • Why Dividend Stocks Trump Treasuries
    Wed, May 23 • Kate Stalter • Comment!
  • Facebook Fiasco
    Wed, May 23 • Jim Van Meerten • Comment!
  • Facebook IPO (NASDAQ: FB) Is Fizzling Fast. Will It Turn Around?
    Wed, May 23 • otcmagic • Comment!
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Company Description

Facebook is a social networking website that enables you to share the things you care about with the people you care about. You can publish your ideas, opinions, pictures and activities to your friends, family, colleagues or the world. We believe that Facebook gives every person a voice—an... More

Sector: Technology
Country: United States