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News
| Facebook investors left guessing after Nasdaq glitch |
(Reuters) - Individual investors were left in the dark for hours on Friday about whether their buy and sell orders for newly issued Facebook shares had actually been executed, in the latest of a series high-profile exchange glitches in recent years. Massive demand for the social networking giant's initial public offering, which set a trading volume record for U.S. market debuts, led to a 45-minute delay in the start of trading in the stock. But it was what happened after trading started that had some on Wall Street fuming. ...
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| SEC to look at Facebook trade glitches |
WASHINGTON (Reuters) - The Securities and Exchange Commission will review the Nasdaq trading glitches surrounding the initial public offering of Facebook Inc on Friday, an agency spokesman said. "As is our practice, staff will review the incident with Nasdaq to determine its cause and steps that will be taken to address it," SEC spokesman John Nester said in a statement. (Reporting By Dave Clarke; Editing by Gary Hill)
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| Historic Facebook debut falls short of expectations |
 SAN FRANCISCO (Reuters) - The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near its offering price at the market close. Facebook shares, which opened up 11 percent, closed at $38.23 after a nail-biting last half hour of trading when the shares dipped to their $38 IPO price. Most investors had predicted a first-day pop. More than 576 million shares changed hands, setting a trading volume record for U.S. market debuts. ...
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| Facebook IPO averts "odd lot" question |
 NEW YORK (Reuters) - Facebook Inc's modest debut on Friday may have averted a potential headache for the company and regulators, and kept at bay a debate over the role of "odd lots" in the marketplace. Shares of Facebook traded as high as $45, near the price of $50 that would keep many retail investors from placing a typical "round lot" order of 100 shares, because the total cost will be $5,000 - considered a threshold for many investors. By the end of regular trading on Friday, however, the stock closed at $38.23, just 23 cents, or 0.6 percent, above its initial public offering price. ...
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| Facebook IPO averts "odd lot" question |
 Click here for all details, rating, and other features |
NEW YORK (Reuters) - Facebook Inc's modest debut on Friday may have averted a potential headache for the company and regulators, and kept at bay a debate over the role of "odd lots" in the marketplace. Shares of Facebook traded as high as $45, near the price of $50 that would keep many retail investors from placing a typical "round lot" order of 100 shares, because the total cost will be $5,000 - considered a threshold for many investors. By the end of regular trading on Friday, however, the stock closed at $38.23, just 23 cents, or 0.6 percent, above its initial public offering price. ...
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Created: 05/19/2012
Readers this month: 0 - Readers total: 0::
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Tags:  Facebook IPO averts "odd lot" question |
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| Scramble for Facebook stock ends in "Face-flop" |
NEW YORK (Reuters) - On Monday, 74-year-old Betty Tanguilig told her financial adviser to liquidate a $400,000 account and put all the proceeds into Facebook Inc IPO shares. Her adviser, Alan Haft, agreed to sell only $46,000 of the $400,000 account, one of several the retiree has. But at about 6:00 a.m. EDT Friday, Haft heard from his brokerage firm, E*Trade Financial Corp, that Tanguilig did not get any IPO shares. Tanguilig, a retired mother of eight, was furious. She has been on Facebook for many years and regularly logs in. "I had to have it," she said. ...
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| Scramble for Facebook stock ends in "Face-flop" |
| Click here for all details, rating, and other features |
NEW YORK (Reuters) - On Monday, 74-year-old Betty Tanguilig told her financial adviser to liquidate a $400,000 account and put all the proceeds into Facebook Inc IPO shares. Her adviser, Alan Haft, agreed to sell only $46,000 of the $400,000 account, one of several the retiree has. But at about 6:00 a.m. EDT Friday, Haft heard from his brokerage firm, E*Trade Financial Corp, that Tanguilig did not get any IPO shares. Tanguilig, a retired mother of eight, was furious. She has been on Facebook for many years and regularly logs in. "I had to have it," she said. ...
Rating: 0.00 (0 votes)
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Created: 05/19/2012
Readers this month: 0 - Readers total: 0::
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| Tags: Scramble for Facebook stock ends "Face-flop" |
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| Facebook investors left guessing after Nasdaq glitch |
(Reuters) - Individual investors were left guessing for more than two hours on Friday about whether their buy and sell orders for newly issued Facebook shares had been actually executed. The Nasdaq Stock Market, where Facebook is listed, had problems sending electronic messages back to the brokerages that handle orders from individual, or "retail," investors, according to people with direct knowledge of the situation. Because the electronic acknowledgements didn't come back from the exchange, the brokers were unable to tell their clients that trades had been executed. ...
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| Shorting Facebook on first day: Only for the brave |
NEW YORK (Reuters) - Shorting the Facebook IPO on its first day of trading is not for the faint of heart, but some traders are trying. As the hottest initial public offering in recent memory, Facebook has drawn 1990s-style tech-mania interest from mom and pop investors and big institutions alike. That intense appeal means short-sellers are both attracted by the stock's high valuation and wary, at least for now. "I have no interest in shorting a cultural phenomenon," hedge fund manager Jeffrey Matthews of Ram Partners in Greenwich, Connecticut, told Reuters in an email interview. ...
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| Shorting Facebook on first day: Only for the brave |
| Click here for all details, rating, and other features |
NEW YORK (Reuters) - Shorting the Facebook IPO on its first day of trading is not for the faint of heart, but some traders are trying. As the hottest initial public offering in recent memory, Facebook has drawn 1990s-style tech-mania interest from mom and pop investors and big institutions alike. That intense appeal means short-sellers are both attracted by the stock's high valuation and wary, at least for now. "I have no interest in shorting a cultural phenomenon," hedge fund manager Jeffrey Matthews of Ram Partners in Greenwich, Connecticut, told Reuters in an email interview. ...
Rating: 0.00 (0 votes)
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Created: 05/19/2012
Readers this month: 0 - Readers total: 0::
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| Tags: Shorting Facebook first day: Only for the brave |
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| Yahoo shares climb on report Alibaba deal near |
 (Reuters) - Yahoo Inc shares rose as much as 6.7 percent on Friday after a report that it was close to selling part of its valuable stake in the Alibaba Group. Shares of Yahoo climbed as high as $15.87 before easing to $15.64, up 5.2 percent. Yahoo and Alibaba Group, the Chinese Internet group that runs e-commerce site Alibaba.com, are close to an agreement that could happen as soon as Monday, according to a report in All Things D, citing unnamed sources.. Yahoo would sell one-half of its 40 percent stake back to Alibaba. ...
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After sucessfully going public with the largest-ever IPO for a tech company in history, Mark Zuckerberg had one problem left to address...what to set as his Facebook status.