stock market news stories on Newser

Behind Facebook's Flop: Morgan Stanley Cut Forecast

Kevin Spak — Tue, 22 May 2012 07:48:15 CDT

Why did Facebook get off to such a rocky start on Wall Street? Well, it might have something to do with Morgan Stanley's decision to slash its revenue forecast at the last minute, Reuters reports. "This was done during the roadshow," says one mutual fund source. "I've never seen that...

Facebook IPO: The Emperor Has No Clothes

Kevin Spak — Mon, 21 May 2012 11:17:05 CDT

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 a share, if I...

Facebook Stock Plummets

Kevin Spak — Mon, 21 May 2012 09:52:00 CDT

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 to...

Lawsuit Could Wipe Out Facebook IPO Windfall

Kevin Spak — Fri, 18 May 2012 10:13:05 CDT

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

Kevin Spak — Fri, 18 May 2012 07:58:22 CDT

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

Rob Quinn — Fri, 18 May 2012 02:04:00 CDT

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

Rob Quinn — Mon, 07 May 2012 05:30:00 CDT

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

Matt Cantor — Thu, 03 May 2012 15:59:31 CDT

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 Journal reports....

Google Splits Stock as Profits Soar

Rob Quinn — Fri, 13 Apr 2012 02:30:00 CDT

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...