Facebook sinks

By Joni_78
in Back Page News

 Share

Recommended Posts

Grand Master

neufuse Veteran

Posted
  • Veteran
Posted

Facebook, banks sued over pre-IPO analyst calls

(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.

The defendants, who also include Facebook Chief Executive Officer Mark Zuckerberg, were accused of concealing from investors during the IPO marketing process "a severe and pronounced reduction" in revenue growth forecasts, resulting from increased use of its app or website through mobile devices. Facebook went public last week.

The lawsuit was filed in U.S. District Court in Manhattan on Wednesday, according to a law firm for the plaintiffs. A day earlier, a similar lawsuit by a different investor was filed in a California state court, according to a law firm involved in that case.

In the New York case, shareholders said research analysts at several underwriters had lowered their business forecasts for Facebook during the IPO process, but that these changes were "selectively disclosed by defendants to certain preferred investors" rather than to the public generally.

"The value of Facebook common stock has declined substantially and plaintiffs and the class have sustained damages as a result," the complaint said.

Representatives of Facebook and Morgan Stanley did not immediately respond to requests for comment.

Facebook shares fell 18.4 percent from their $38 IPO price in the first three days of trading, reducing the value of stock sold in the IPO by more than $2.9 billion.

(Reporting by Dan Levine in San Francisco and Jonathan Stempel in New York; Editing by Gerald E. McCormick and Lisa Von Ahn)

Grand Master

zeta_immersion

Posted
Posted

give it some time, I am sure before they release expected revenue or whatever it is called things will change. Comparing Google to Facebook is insane, 2 totally different businesses and not even remotely similar.

People are making too much of a fuss about it because they were expecting a quick buck but in reality have lost those quick bucks (billions of them) ....

Grand Master

Joni_78

Posted
  • Author
Posted

It's been trading stable at about ~$32 all day so either that's where it's gonna be or some people still thinking they are gonna score big.

http://data.cnbc.com/quotes/FB

Live streaming stock quotes there.

That was because analysts on one investment bank rated Facebook's stock a buy yesterday.

http://in.reuters.co...E84M0DM20120523

Grand Master

neufuse Veteran

Posted
  • Veteran
Posted

So what happens if the facebook stock jumps to 40, and those people suing are actually making money on the facebook stock what then?

a lot of those people probably ditched their stock when it started to go down in a panic, seen that happen a lot! no one things about long term, heck *IF* facebook offered a dividend, you could make all that money back potentially if not more... but the average user doesn't know sock, and doesn't think about it right

Veteran

Alwaysonacoffebreak

Posted
Posted

99% of the people here have zero understanding of the stock market. And I suggest those people keep their noses out of it unless they intend on investing or considering investing into stock in the foreseeable future. But even then, stop posting no-news posts before you have researched and understood how things work.

And you do? Give me a break. I'll rather buy more Nokia stocks for myself before I'll ever spend a penny on Facebook stocks. You're not the only one who owns stocks and knows how it works, clearly you think you are, sorry to burst your little pink bubble.

Grand Master

Astra.Xtreme

Posted
Posted

Yup, it's inevitable. The reason it's not happening faster is because they don't really have a close competitor. Twitter could maybe take off if they added something interesting besides celebrity stalking.

This topic is now closed to further replies.
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.

  • Posts

    • Microsoft admits one of the most crucial Outlook features is currently broken

      By hellowalkman · Posted

      Microsoft admits one of the most crucial Outlook features is currently broken by Sayan Sen Microsoft is making some decent progress when it comes to Windows 11. Recently we have confirmed reports of some rather useful improvements landing in the next version of the OS, 26H2, wherein GPU driver TDR crashes may finally be fixed, plus the company is also allowing users to disable web content on the Search. On the Outlook front though things have not been so rosy. Last month in May we reported several problems affecting basic functionalities on the app. These included a problem where documents would open blank or corrupt themselves. Following that, Quick Steps, a very useful feature, would no longer work correctly, and finally, Microsoft acknowledged a problem wherein images would fail to load up properly inside the email. Microsoft had resolved those bugs later and almost exactly a month after we reported on them, the company has now admitted a new similarly basic issue, this time on Macs. Users recently started noticing that Outlook would no longer display email threads properly as the original message itself was not displayed. An affected user Tsoumpas, C (ngmb) nicely described the problem in a forum post they made on Microsoft's site. They wrote: "Description of the issue: After updating Outlook for Mac [Version 16.110 (26061317)] on 18/6/2026, replying to any email no longer includes the original message in the reply window. Prior to the update, replies correctly contained the original email text below my response. Expected behavior: The original message should be included in the reply, as in previous Outlook versions and according to the configured reply settings. Actual behavior: The reply window contains only a blank composition area (or only my response), with none of the original email text included." Obviously this must be a highly frustrating for users as noted by several in that thread. The post, at the time of writing, has also been upvoted by more than 40 users indicating that is a fairly widespread bug. Thankfully Microsoft seems to have acknowledged the problem right around that time as it opened a new issue on its official website. In the support article, the company recommends switching to Outlook for Mac from the legacy app, where the problem appears to be happening.
    • PotPlayer 260622

      By Copernic · Posted

      PotPlayer 260622 by Razvan Serea PotPlayer is an extremely light-weight multimedia player for Windows. It feels like the KMPlayer, but is in active development. Supports almost every available video formats out there. PotPlayer contains internal codecs and there is no need to install codecs manually. Other key features include WebCam/Analog/Digital TV devices support, gapless video playback, DXVA, live broadcasting. Distinctive features of the player is a high quality playback, support for all modern video and audio formats and a built DXVA video codecs. A wide range of subtitles are supported and you are also able to capture audio, video, and screenshots. A comprehensive video and audio player, that also supports TV channels, subtitles and skins. Its been described on the Internet as The KMPlayer redux, and it pretty much is. Daum PotPlayer 260622 (1.7.22963) changelog: Removed Kakao TV Added pause function when navigating via the navigation bar Significantly improved internal stability Fixed an issue where colors appeared strange during RGB24 processing Improved playback for some HTTP streams Improved sync processing for the built-in audio renderer Fixed an issue where certain MP4 files behaved abnormally during playback Download: Daum PotPlayer (64-bit) | 54.7 MB (Freeware) Download: Daum PotPlayer (32-bit) | 61.1 MB View: Daum PotPlayer Home Page | Screenshot Get alerted to all of our Software updates on Twitter at @NeowinSoftware
    • Tixati 3.44

      By Copernic · Posted

      Tixati 3.44 is out.
    • Speccy 1.34.084

      By Copernic · Posted

      Speccy 1.34.084 by Razvan Serea Speccy will give you detailed statistics on every piece of hardware in your computer. Including CPU, Motherboard, RAM, Graphics Cards, Hard Disks, Optical Drives, Audio support. Additionally Speccy adds the temperatures of your different components, so you can easily see if there's a problem! Processor brand and model Hard drive size and speed Amount of memory (RAM) Graphics card Operating system At first glance, Speccy may seem like an application for system administrators and power users. It certainly is, but Speccy can also help normal users, in everyday computing life. If you need to add more memory to your system, for example, you can check how many memory slots your computer has and what memory's already installed. Then you can go out and buy the right type of memory to add on or replace what you've already got. Download: Speccy 1.34.084 | 20.5 MB (Freeware) View: Speccy Website | Screenshot Get alerted to all of our Software updates on Twitter at @NeowinSoftware
    • ImgDrive 2.2.7

      By Copernic · Posted

      ImgDrive 2.2.7 by Razvan Serea ImgDrive is a CD/DVD/BD emulator - a tool that allows you to mount optical disc images by simply clicking on them in Windows Explorer. If you have downloaded an ISO image and want to use it without burning it to a blank disc, ImgDrive is the easiest way to do it. ImgDrive features: One-click mounting of iso, cue, nrg, mds/mdf, ccd, isz images Runs on 32-bit and 64-bit Windows versions Mount ape, flac, m4a, wav, wavpack, tta file as AUDIO CD (16-bit/44.1kHz) Mount a folder as DVD/BD Mount images in command line Does not require rebooting after installation Support up to 7 virtual drives at the same time Support multi session disc image (ccd/mds/nrg) A special portable version is available Translated to more than 10 languages Support File Type: .ccd - CloneCD image files .cue - Cue sheets files of ape/flac/m4a/tta/wav/wv/bin .iso - Standard ISO image files .isz - Compressed ISO image files .nrg - Nero image files .mds - Media descriptor image files ImgDrive 2.2.7 changelog: Added command line parameter to set number of drives Added AACS-Auth support for HD DVD Bumped kernel driver version to 2.2.7 Download: ImgDrive 2.2.7 | 692 KB (Freeware, paid upgrade available) Download: ImgDrive Portable 535 KB View: ImgDrive Home Page | Screenshot Get alerted to all of our Software updates on Twitter at @NeowinSoftware

  • Recent Achievements

    • Dedicated
      tuben earned a badge
      Dedicated
    • Week One Done
      mnsgroup earned a badge
      Week One Done
    • Conversation Starter
      sumytbe earned a badge
      Conversation Starter
    • One Year In
      B4dM1k3 earned a badge
      One Year In
    • One Year In
      DarkWun earned a badge
      One Year In

  • Popular Contributors

    1. 1
      +primortal
      522
    2. 2
      +Edouard
      199
    3. 3
      PsYcHoKiLLa
      94
    4. 4
      Michael Scrip
      82
    5. 5
      neufuse
      69
    Show More

  • Tell a friend

    Love Neowin? Tell a friend!