Topic: Stock Markets

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Facebook IPO: Six key dates in its debacle

Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
Facebook stock: 6 intriguing investors

Facebook stock will make many people suddenly wealthy when it begins trading this Friday. The company is expected to be valued somewhere around $100 billion, with stock expected to sell anywhere between $34 and $38 per share. Here are six of the more unexpected people set to make a killing with initial public offering of Facebook stock, including a rock star, a graffiti artist, and pair of Mark Zuckerberg’s enemies.
Briefing
Facebook IPO: five things to know before buying the stock

About 1 out of every 8 people on the planet have a Facebook account. Now, with the arrival of a public stock offering, all those people have a chance to be part owners of this social hub. Should you buy? Here are five things to consider.
Osama bin Laden papers: top 5 revelations

A new trove of letters seized during the Osama bin Laden raid paint an intimate picture of the inner workings and struggles of Al Qaeda, from its dabbling in the stock market to practices that would make any Mafia don proud.
Tech stocks: How seven recent IPOs have fared

Tech stocks like Facebook can create plenty of buzz on Wall Street when they file for an initial public offering, or IPO, of stock. Below is a look at how tech stocks and other Internet-related stocks of some companies fared after going through a recent IPO. Some have done well. Others haven't.

All Content

As fears about Europe's future worsen, the Dow closes down

Fearing a financial rupture in Europe, investors around the world fled from risk Wednesday. They punished stocks and the euro, and the yield on a benchmark US bond hit its lowest point since World War II. The Dow closed down 161 points to land at 12419.
Facebook opens office in Dubai

Facebook established an office in the Middle East for the first time on Wednesday, in Dubai's Internet City.
Facebook stock drops below $29 (+video)

Facebook stock falls 9.6 percent to close at $28.84. In its first seven days of trading, Facebook stock has lost nearly a quarter of its value.
Despite oil prices, falling euro, Dow closes up slightly

Oil prices fell, the euro sank to a 22-month low, and the yield on the U.S. government's 10-year Treasury note fell near a historic low. But the Dow Jones industrial average edged up 125 points to close at 12580 as investors continue to hope for a Chinese growth spurt.
Facebook IPO: Six key dates in its debacle

Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
The Daily Reckoning
Facebook IPO: The end of an era

The failure of Facebook's public debut may signal the end of the pie-in-the-sky tech start up, as well as the possibility that the post-crisis recovery rally is screeching to a halt.
Facebook lawsuits: Did all shareholders get same data in IPO?

Facebook lawsuits charge that banks in charge of IPO didn't share company information with all shareholders. In addition to Facebook lawsuits, two congressional committees are also investigating the IPO.
Keep Calm
Good Reads: Why nations fail, and how we overlook some successes

This week's reading list includes a close look at why nations fail, how Africa is booming, why Greece's default won't be such a tragedy after all, and how Facebook's IPO is a warning bell. 
Facebook struggles as lawsuits loom

The stock climbed a dollar on Wednesday, but it is still 16 percent below its IPO price last Friday.
Stocks rally to erase steep losses

Stocks closed mixed Wednesday after a late rally erased steep losses. The Dow lost seven points to close at 12496
Facebook stock: Once hot IPO now a tale of lawsuits, glitches, and overreach (+video)

Facebook stock is trading well below its initial offering price. The IPO is being viewed as a debacle for the firm and its investment backers, and the lawsuits have already begun.
Facebook stock still slipping as investors grow wary

The company has slipped to $91 billion in total valuation from its opening at $104 billion.
The Daily Reckoning
Leave Facebook's Eduardo Saverin alone

Eduardo Saverin's timely renunciation of his American citizenship is no reason to keep him out of the US. People should be able to move where they want, when they want, for any reason.
Facebook stock falling again. What went wrong?

Facebook stock fell 7 percent in early trading Tuesday, after an 11 percent fall Monday. In challenging market environment, selling IPO of Facebook stock is like 'trying to get a jumbo jet to take off in turbulent weather.'
The Circle Bastiat
Facebook IPO dud: Is the future of public companies at risk?

In the wake of Facebook's poor stock market debut, is it time to start worrying about the future of publicly traded companies?
Stocks climb, breaking losing streak

Apple stock soared, helping propel major US stock indexes to gains after a solid week of losses. The Dow Jones rose 135 points to close at 12504.
Facebook stock falls 11 percent in second trading day

Facebook shares close down $4.20 in Monday trading. Facebook stock dropped so much Monday morning that 'circuit breakers' kicked in to restrict sell orders.
Mark Zuckerberg: Facebook status updated to 'married' (+video)

Facebook CEO Mark Zuckerberg married long-time girlfriend Priscilla Chan Saturday in a small, surprise wedding. Less than 100 guests arrived at Zuckerberg's home for what they would be a party to celebrate Chan's graduation from medical school. Zuckerberg did not wear a hoodie.
Tech stocks exchange to change IPO auctions after Facebook glitches

Tech stocks IPO auctions will be revamped, Nasdaq CEO says, after delays plagued Facebook's first day of trading. SEC investigating to see if delays hurt trading in the tech stock's underwhelming IPO.
As Facebook millionaires party, what future for new shareholders?

An expected 'pop' in share prices never came as Facebook went public this week. But Facebook's IPO was a measured affair, lacking in irrational exuberance, and laying the groundwork for the network's main challenge: Turning 'friends' into consumers.
The New Economy
Facebook IPO? Flat. Facebook future? Bright.

Facebook IPO generated no big stock gains on its first day of trading. But Facebook has many of the traits that made Apple, Microsoft, and Google great in the long run.  
Facebook IPO stumbles: Why didn't it wow investors? (+video)

The Facebook IPO underwhelmed Friday, closing up only 23 cents. Investors are still debating Facebook's worth: Is it must-own stock or a company with limited growth potential?
Facebook debut doesn't buoy stocks; Dow down 73

The Dow lost 73 points to close at 12369 on Facebook's big day. The index fell 3.5 percent on the week.
The Reformed Broker
Will the Facebook IPO save online brokers?

Yet another group may benefit greatly from the Facebook IPO: brokerage firms.
Mark Zuckerberg's IPO challenge: A company that can 'friend' the 99 percent

Will the new publicly traded Facebook cater singularly to its wealthy shareholders? Mark Zuckerberg must strive to include ‘we the users,’ who made such a megabillion dollar concept possible, in his corporate model. He can start by offering a free share to each Facebook user.