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Facebook settles lawsuit over "Sponsored Stories"
SAN FRANCISCO (Reuters) - Facebook Inc has agreed to settle a lawsuit that alleged the site's "Sponsored Stories" feature publicized users' "likes" without compensation or the ability to opt out, according to a court document filed on Tuesday. The proposed class action lawsuit, filed in a San Jose, California federal court, could have included nearly one of every three Americans, with billions ...
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Facebook advised analysts to cut forecasts before float
(Reuters) - As Facebook officials traveled the country to talk up the company's $16 billion initial public offering this month, the social networking giant advised analysts for underwriters to reduce revenue and earnings forecasts, said people with direct knowledge. Facebook decided to tell analysts to cut estimates due to feedback during the investor roadshow which revealed users were opting ...
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The Big Reason for Facebook's Fizzled IPO: Advertising Pains
As Facebook's stock continues its slump, now trading even lower than yesterday's low, the Internet has reached a consensus on why the IPO of the year isn't performing: Advertising. It's how Facebook makes its dollars. And, it has made a lot of dollars this way. But it's not clear Facebook's very good at it, or will get good enough at it to justify a $38 per share price. Hence the investor worry.
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Underwriters blasted as Facebook shares sink again
Facebook shares sank further Tuesday amid new accusations that key underwriters had cut their forecasts for the company just days before Friday's initial public offering.
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Facebook shares plunge below IPO price
Facebook 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.
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Why Facebook still doesn't look cheap
If you were thinking of picking up a few shares of Facebook last week, when it went public at a price of $38, you might be seriously tempted now that the stock has fallen $7 in two days.
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Facebook Droops and a Bubble Bursts
Even 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 ...
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What Went Wrong With Facebook's IPO?
Facebook's initial public offering is off to a less than spectacular start, to put it generously. The stock closed at $31 on its third day Tuesday, down 18% from its initial offer price of $38, which valued the company just above $100 billion.
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Funds with Facebook hammered as proxy by shorts
(Reuters) - Some investment funds have paid a price for their friendship with Facebook since the social networking giant went public last week. Firsthand Technology Value Fund and GSV Capital Corp, two closed-end funds that bought shares of the social media company before the IPO, have taken a beating, used as proxies for betting against Facebook. "Until investors can actually short Facebook ...
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Facebook IPO Fallout: Four Lessons from a Rocky Public Debut
Facebook shares fell 11% Monday, after Morgan Stanley and other Wall Street banks ceased propping up the social network's stock at Friday's $38 offering price. Although the IPO was a big success for Facebook and its early investors and insiders -- who sold $9 billion worth of shares they'd acquired at lower prices -- the offering was a disappointment for many investors who clambered to get a ...
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