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Facebook IPO: The Emperor Has No Clothes
Facebook IPO: The Emperor Has No Clothes
OPINION Roundup
May 21, 2012 11:17 AM CDT

Facebook IPO: The Emperor Has No Clothes

Stock's rough first day has pundits asking if it's DOA

(Newser) - Facebook had a disappointing first day on the market, so much so that Dana Blankenhorn of TheStreet is calling the relatively cheery media coverage surrounding it "one of the great frauds in American history." Blankenhorn's reasoning: "If I can barely sell 15% of something at $38...

Facebook Stock Plummets
 Facebook Stock Plummets 
May 21, 2012 9:52 AM CDT

Facebook Stock Plummets

Second day on the market goes poorly without underwriter support

(Newser) - Facebook's underwriters pulled off the training wheels today, and the infant stock fell—hard. After a lackluster first day on the market, Facebook shares fell some 12% in the first minute of trading this morning, Reuters reports, dropping below the $38 IPO price to $33.67, where it continues...

Lawsuit Could Wipe Out Facebook IPO Windfall
Lawsuit Could Wipe Out Facebook IPO Windfall
and more IPO news
May 18, 2012 10:13 AM CDT

Lawsuit Could Wipe Out Facebook IPO Windfall

...but bids in Germany have hit $74 a share

(Newser) - By the time you read this, Facebook shares will likely have begun trading ( or not ). But the hoopla around the IPO was slightly dampened today, thanks to a mammoth class-action privacy lawsuit filed against it. The case combines 21 separate suits accusing Facebook of tracking users even when...

Facebook's IPO Day Is Here —and Nasdaq Braces Itself

Trading opens at 11am ET

(Newser) - Facebook shares will go on sale at long last today, in the biggest tech IPO in US history—and Nasdaq is desperate to make sure nothing goes wrong. Facebook has set an initial price of $38 per share, meaning it will make some $16 billion on the sale. Trading will...

Groupon Stock Hike Probed
 Groupon Stock Hike Probed 
May 18, 2012 2:04 AM CDT

Groupon Stock Hike Probed

Trading spikes ahead of release of strong results

(Newser) - Did Groupon insiders try for a daily deal of their own? A Wall Street regulator is probing some fishy trading activity in the hours before the company released stronger-than-expected financial results earlier this week, sources tell the Wall Street Journal . Shares in the company—which had fallen more than 50%...

World Markets Tumble on French-Greek Elections

Investors fear fresh crisis in eurozone

(Newser) - Markets worldwide have been seriously rattled by the rejection of pro-austerity governments by voters in France and Greece . Asian markets plunged, the euro dropped to a 3-month low against the dollar in early trading, and oil slipped to $97 a barrel. European shares also tumbled and yields rose on the...

Facebook IPO: Not Quite $100B

Shares to be $28 to $35, putting value at $96B max

(Newser) - With Nasdaq trading likely to begin in weeks, Facebook has revealed pricing figures: It's planning to sell shares for between $28 and $35, which would put the company's value at $77 billion to $96 billion—the highest ever for a web firm during its IPO, the Wall Street ...

Google Splits Stock as Profits Soar

Move keeps co-founders in control

(Newser) - Google has unveiled a stock split that will double the number of shares while keeping co-founders Larry Page and Sergey Brin firmly in control. The company is creating a new class of nonvoting shares that will be distributed to existing shareholders in a 2 for 1 split. The move will...

Bernanke: Fed Will Do More to Boost Economy

Stock market soars

(Newser) - The Federal Reserve isn't ready to take its foot off the gas pedal. In a speech this morning in Arlington, Virginia, Ben Bernanke said that while the Fed was encouraged by the downward trend in unemployment numbers, it believes that the economy needs “continued accommodative policies” to keep...

Etch A Sketch Stock Soars on Romney Aide's Gaffe

Climbs more than 200% to $12.50 per share

(Newser) - Bad news for Mitt Romney has been great news for Etch A Sketch: Stock in the toy's maker soared 212.5% after Romney spokesman Eric Ferhnstrom compared the campaign to one . Ohio Art's stock stood at $4 per share at the beginning of the day yesterday; at...

Apple to Pay First Dividend Since 1995

Company authorizes buyback as well, will plow through $45B

(Newser) - Apple shareholders ought to be even happier with the company than usual this morning, as the gadgets giant announced plans to spend $45 billion of its $97 billion in cash reserves on a buyback and a dividend program. Of that, $10 billion will go to a buyback authorization—though Business...

Dow Passes 13K Mark
 Dow Passes 13K Mark 
Feb 21, 2012 10:34 AM CST

Dow Passes 13K Mark

Last time it did so: May 20, 2008

(Newser) - Huge milestone today: The Dow crossed the 13,000 mark, the first time since before the 2008 financial crisis that it has done so. The last time it made it above that milestone was on May 20, 2008, four months before Lehman Brothers went under. Behind today's bump: the...

You Should Buy Apple Stock
 You Should Buy Apple Stock 
Farhad Manjoo
Feb 16, 2012 10:37 AM CST

You Should Buy Apple Stock

Farhad Manjoo thinks Apple still has nowhere to go but up

(Newser) - You might think that with its stock north of $500 a share, after rising 30% in six months, that Apple has peaked financially. But you'd be wrong, writes Farhad Manjoo of Slate . Apple's price-earnings ratio is still a humble 14—cheaper even than Google, Amazon, and even beleaguered...

Nasdaq Hits 11-Year High; Dow Rises 157

It's Dow's best finish since 2008

(Newser) - Today's rosy jobs report did wonders for the markets. The tech-heavy Nasdaq, in fact, closed at an 11-year high, reports MarketWatch , while the Dow finished at its highest level since May 2008, notes the Wall Street Journal . The numbers:
  • Dow: Up 157, 1.2%, to 12,862
  • Nasdaq: Up
...

Senate Passes Insider Trading Ban

Measure to be before House next week

(Newser) - Lawmakers in Congress are inching closer to deciding, somewhat belatedly, that they shouldn't be allowed to profit by playing the stock market using inside information they have gleaned on Capitol Hill. A bill that bans insider trading by lawmakers and thousands of executive branch officials is heading to the...

Taxpayers Still Have $132.9B Stuck in TARP

Government trying to unwind stock without losing on the deal

(Newser) - The Treasury Department has had a tough time selling off some of the stock it took on in exchange for TARP bailout funds, meaning taxpayers are still on the hook for some $132.9 billion—some of which they may never get back, according to a report released today by...

Dow Surges 337, Reclaims 12K

Market has its best day this month

(Newser) - Encouraging signs out of Europe and a surprisingly strong report on the US housing market drove the Dow Jones industrial average up more than 330 points today. It was the best day for stocks this month. The Spanish government pulled off a successful debt auction, and gauges of business and...

Zynga IPO Values Farmville Firm at $9B
 IPO Values Zynga at $9B 
Dec 2, 2011 11:07 AM CST

IPO Values Zynga at $9B

Farmville firm to sell 11.1% stake

(Newser) - Online gaming company Zynga is preparing an IPO that values the company at between $7.7 billion and $9.04 billion. The Farmville firm is selling an 11.1% stake, with 100 million shares going for between $8.50 and $10 each. The figures put Zynga on track to raise...

Stocks Jump 400+ on Trio of Good News
 Stocks Jump 400+ 
 on Trio of Good News 
MARKETS
Nov 30, 2011 8:59 AM CST

Stocks Jump 400+ on Trio of Good News

Central banks and China make moves, private-sector employment jumps

(Newser) - The market took a major jump at open on the announcement that six central banks were moving to make it easier for European banks to get dollars, with the Dow rising 322 points to 11,877, reports the Wall Street Journal . As of 9:55am, it was up 405 points....

Stocks Plunge on Super Committee Failure

Dow drops triple digits

(Newser) - Stocks plunged at the opening bell today, thanks to the super committee's failure to reach a deal and the ongoing debt crisis in Europe. As of 9:37am, the Dow was down 158 points, while the Nasdaq and S&P were down 40 and 19 points, respectively, as investors...

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