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
- New York's First Ebola Case? Doctor Treating Ebola Patients In Guinea Rushed To Bellevue Hosptial | ZeroHedge
- You Asked For Market-Lifting Miracles Theo, I Give You Another NYSE Break | ZeroHedge
- It’s Important that You Retain This Information | iBankCoin.com
- MeeT ZeRo THe WHiTeHouSe GuaRD DoG... | ZeroHedge
- United States Of China: In Which States Is Your Landlord Most Likely To Be Chinese | ZeroHedge
- Potential Intraday Runners | iBankCoin.com
- Trannies Up Over 10% From Bullard Lows, Shorts Squeezed Most In 3 Years | ZeroHedge
The most relevant financial news and articles from the Internets
- Morgan Spurlock's New Short Film Explains The Market Economy So Even A Caveman... | Business Insider
- Jim Cramer's 'Mad Money' Recap: The Bulls Are Back in Charge | TheStreet.com
- Oldest DNA ever found sheds light on humans' global... | Business Insider
- HOUSE OF THE DAY: Go Inside Jennifer Lawrence's New $8 Million Beverly Hills... | Business Insider
- Pfizer Announces Eye-Popping $11 Billion Share Buyback Plan (PFE) | Business Insider
- Man with 'Islamic extremist leanings' attacks NY... | Business Insider
- US tobacco giant Reynolds bans smoking in its offices | Business Insider