Facebook news stories on Newser

Facebook Unveils Its Own Photo App

Matt Cantor — Thu, 24 May 2012 15:20:48 CDT

Facebook is launching its own photo app—despite having just spent $1 billion to buy Instagram . The new program, called Facebook Camera, is separate from Facebook's main app. It's much quicker than browsing photos in the main app, and it offers full-bleed pictures that fill your iPhone screen, AllThingsDigital reports....

Facebook Investors Are 'Wall Street Suckers'

John Johnson — Thu, 24 May 2012 13:57:33 CDT

If you happen to be among those Facebook investors cursing the IPO's rough start, David Weidner at the Wall Street Journal has a little salt for your wound: You're probably an "old-fashioned Wall Street sucker," he writes. After all, the signs of "shifty business" were clearly evident before the big...

Why I'm Saying Goodbye to 'Facebookistan'

Mark Russell — Thu, 24 May 2012 13:21:14 CDT

Four years and 4,000 friends later, Steve Coll is calling it quits when it comes to Facebook. It's not that Coll doesn't find Facebook useful or understand its appeals. To Coll, quitting what one of his colleagues has dubbed "Facebookistan" is an exercise in citizenship, his protest against the...

Facebook Is a Great Place to Find a Kidney

Evann Gastaldo — Thu, 24 May 2012 08:39:43 CDT

People are increasingly turning to social media to search for kidney donors—and it turns out Facebook is actually a pretty great place to find one. In a study of almost 100 Facebook pages set up for the purpose, researchers found that nearly one-third had potential donors step forward to...

Underwriters Score $100M in Messy Facebook IPO

Mark Russell — Thu, 24 May 2012 07:33:23 CDT

New investors in Facebook may be steamed (and suing ) that their hot property has lost 16% of its value since the IPO Friday, but Facebook's underwriters are sitting pretty. Morgan Stanley and the other underwriters have made an estimated $100 million from stabilizing the buffeted stock, in addition to...

Analyst on Facebook Flop: Hoodie Scared Investors

Kevin Spak — Wed, 23 May 2012 14:06:05 CDT

Why is Facebook's stock languishing well below its IPO asking price? Blame Mark Zuckerberg's hoodie, says Michael Pachter. The Wedbush securities analyst was widely snickered at a couple weeks ago for complaining that Zuckerberg shouldn't have worn the hoodie on Facebook's "roadshow" for investors. Now, he says he's been vindicated....

Shareholders Sue: Morgan Stanley, Zuckerberg, Facebook

Kate Schwartz — Wed, 23 May 2012 08:37:17 CDT

Good thing Mark Zuckerberg has that new bride to be excited about, because his new billions are only bringing him headaches. Shareholders today filed a suit against Zuckerberg, Facebook itself, and a number of Morgan Stanley-led banks, arguing that all three kept secret a "a severe and pronounced reduction" in...

Insiders Warned on Facebook IPO, Regulators Launch Investigation

Rob Quinn — Wed, 23 May 2012 07:10:10 CDT

Facebook's IPO is looking more disastrous by the day. Regulators are now probing reports that underwriter Morgan Stanley and other banks cut their revenue forecasts for the company just days before the IPO—but only advised major clients of the change. Insiders believe the revised forecast, which smaller investors were...

Investor Sues Nasdaq as Facebook Drops Again

John Johnson — Tue, 22 May 2012 17:02:08 CDT

Nasdaq has admitted that it bungled the Facebook IPO , and now an investor wants to make the exchange pay up. Maryland's Phillip Goldberg sued Nasdaq on behalf of all those who lost money because the exchange delayed their orders on the chaotic opening day, reports Reuters . He seeks class-action status.