Banking group UBS claimed today that the botched stock market listing of social networking giant Facebook cost it 349 million Swiss francs (£227 million).
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Facebook’s stock has hit a new low after it reported second-quarter results that disappointed investors.
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(Reuters) – A rare quarterly earnings miss at Apple Inc (AAPL.O) prompted a few brokerages to slightly lower price targets for the stock but, with the next iPhone looming, most analysts urged investors to see this as a buying opportunity.
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David Cameron and Nick Clegg will announce a £9 billion package of investment in the rail industry as “the biggest investment in Britain’s railways since the Victorian era”.
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The biggest investor in Sulake, parent company of Habbo Hotel, has withdrawn its funding in the light of accusations that the network harboured paedophiles.
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(Reuters) – A sharp decline in Facebook Inc shares has investors scrambling for options to hedge against further weakness in the company’s struggling stock.
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(Reuters) – Facebook Inc and banks including Morgan Stanley were sued by the social networking leader’s shareholders, who claimed the defendants hid Facebook’s weakened growth forecasts ahead of its $16 billion initial public offering.
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Facebook shares slumped to more than 10 per cent below their float price on their second day trading as a public company.
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Facebook has announced it will sell its shares for $US38, which values the world’s largest online social network at more than $US100 billion.
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Facebook has reportedly raised the price range on its IPO shares from the $28-$35 range to $34-$38 each, as the growing interest of investors has boosted the valuation of the firm to up to an eye-watering $104bn.
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