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All Posts Tagged Tag: ‘Facebook IPO’

Facebook IPO Revised Revenue Report Scandal

Probably not surprising to most of you, big banks, and underwriters of the Facebook IPO deal, had inside information on the company’s inevitably shrinking revenues before trading even began. As we reported yesterday, Morgan Stanley’s financial forecasters issued a revised report early last week detailing an over 6% decline in revenue for the second quarter of 2012. The revisions stems …

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Facebook IPO: Morgan Stanley Subpoenaed In Massachusetts

Yesterday morning we brought you news that Morgan Stanley had lowered Facebook’s revenue forecast in the days before the company’s IPO, but that the news was kept quiet during the IPO roadshow that led up to the IPO on last Friday. As you might expect, this news has drawn the attention of a variety of authorities. Yesterday afternoon, Mary Schapiro, …

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Facebook Says “No” to Paper Stock Certificates

Those collectors who were hoping to frame their paper stock certificate for their Facebook shares are out of luck. According to AllFacebook, Facebook has changed its mind and will not be offering paper stock certificates, even as a collectible. GiveAShare.com will, however, offer collectors a certificate that is similar to an official one, with statements from Facebook’s transfer agent showing …

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Facebook Closes at $31.12; SEC Examines IPO Issues

Today Facebook shares suffered another day of less than stellar trading. Prices reached a high of $35.59 and dipped to $30.94 at their lowest. The Nasdaq concluded regular trading with the shares at $31.12 and after hours activity reflects a similar price so far. Those who have been keeping track will recall that stock prices climbed to $45 early on …

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Mark Zuckerberg Opts for $1 Salary

Facebook CEO and newlywed Mark Zuckerberg will take a $1 salary in 2013, and likewise forgo cash and stock bonuses, as well the use of Facebook services, including aircraft and financial and estate planning for his personal use – all to save on taxes. Other notable tech execs who receive a $1 salary include Apple’s late Steve Jobs, Oracle’s Larry …

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Facebook Shares Hit Below $31 at 18% Decline

Today the market on Facebook shares opened at $32.91, even lower than yesterday’s $34 closing price, but as trading got underway, the trend still favored the downward spiral. As I write this article, Facebook is trading at almost 18% below the targeted $38 per share price. For about $31 you can own a piece of social networking history. Though Facebook …

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How Low Can Facebook Stock Go?

Facebook stock closed at $34.03 per share yesterday, and some speculate that there truly is no limit on how low it can go. Several factors have likely contributed to the sensational IPO’s less than stellar performance. NASDAQ had allegedly suffered a reporting problem early on, Facebook has been said to be unable to properly monetize its ad content, and may …

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Facebook IPO: Underwriters Fail to Prop Up Demand

After Friday’s botched Facebook IPO, where trading prices barely exceeded the $38 per share target price, things looked even worse yesterday. The market closed at just over $34 per share for Facebook. Now many banks offering the stock say they were bombarded with too many shares the day of the IPO. According to the Wall Street Journal, it is common …

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Facebook Apologizes for Deleting Photos

Facebook, presently under a scanning electron microscope as the smoke clears post-IPO, is now under fire for allegedly removing photos posted of a child with a congenital birth defect. Hundreds of users had been sharing photos of Grayson James Walker, who was born with anencephaly, a neural tube birth defect, only to have the pictures removed. His mother Heather was …

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Nasdaq’s Fallout from the Fubar Facebook IPO

Given that everyone was so excited and looking to the future with Facebook’s initial public offering on Friday, there has been a surprising absence of good news to come out of the it since it happened. It’s not even that there’s an absence of good news but an overwhelming pall of bad news. Friday stumbled out of the gates and …

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Facebook IPO: Big Bank’s Hidden Revenue Forecast

It’s not really news to anyone at this point, but the much anticipated Facebook IPO has been a big letdown for almost everybody involved. Of course, we think it began with Nasdaq’s monumental big trading desk communication breakdown, but Reuters is now reporting that things were headed south early last week during the IPO roadshow. Apparently Morgan Stanley’s Scott Devitt, …

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Facebook Denies Lifting Ban on Minors

As investors wonder why Facebook stock isn’t skyrocketing, with some suggesting that the social network was aware of potential problems by possibly filing a rumored reduced guidance, which is essentially a bad forecast of future business – now another rumor surrounds the sensational IPO – that Facebook plans to lift the ban on under-thirteen-year-olds joining the site. According to an …

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