New 52-week low for Facebook
Facebook (FB) is down 10% after-hours and only a few pennies above $24. Come Friday it will be a brand new 52-week low for Facebook shares. Get ready to hear about fb all day and read 10,000 stories about it.
Facebook trading almost 30% down from its $38 price back when the IPO could do no wrong. Bottom line is Facebook's profit wasn't good enough for the Street and the company increased its spending.
Facebook's Q2 revenue did increase and came in at $1.18 billion. That wasn't quite good enough for the Street which was expecting revenue of $1.16 billion. The company reported a net loss of $157 million, or 8 cents per share. The big expense was marketing and sales which hit $392 million.
Expect Facebook shares to open tomorrow in the low to mid $24 range. If the stock keeps dropping its going to attract buying interest.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Obama Says "Enough Is Enough," Urges Gun Restrictions After Deadly Planned Parenthood Standoff | ZeroHedge
- The Unintended Consequences Of 'Lift-Off' In A World Of Excess Reserves | ZeroHedge
- Meanwhile In Greece, The Price Of A Prostitute Drops To €4 Per Hour | ZeroHedge
- Matthew Mather's Darknet Shows Reality Is Not Far From Fiction | Financial Sense
- Paris, Sharm el-Sheikh, and the Resurrection of Old Europe | Financial Sense
- Threats | ZeroHedge
- Violence Erupts In Turkey After Prominent Lawyer Is Assassinated On Live TV | ZeroHedge
The most relevant financial news and articles from the Internets
- Book Review: <em>Thinking, Fast and Slow</em> by Daniel Kahneman | BusinessWeek
- Polish cargo ship attacked off Nigeria; 5 abducted | Business Insider
- Q&A: What's known about Planned Parenthood... | Business Insider
- Hollande, activists gear up for critical climate talks | Business Insider
- Jones holds off Spieth, Scott to win Australian Open | Business Insider
- Romo out for year after 2nd collarbone injury of season | Business Insider
- Patti LaBelle spent Thanksgiving with the guy whose viral video helped her sell $2... | Business Insider