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
- Russian Military Helicopter Crashes During Air Show Celebrating Airborne Forces Day, One Pilot Dead | ZeroHedge
- Trump Tops Pre-Debate Polls, Slams Koch Conference Attendees As "Puppets" | ZeroHedge
- Monetary Metals Supply and Demand Report 2 Aug | ZeroHedge
- The Fed's Circular Logic Exposed In 1 Simple Chart | ZeroHedge
- With The S&P 2% From All Time Highs, Wall Street Bearishness Is More Extreme Than March 2009 | ZeroHedge
- The Best And Worst Performing Assets In July And 2015 YTD | ZeroHedge
- Gold Sentiment Is Just Plain Ugly | ZeroHedge
The most relevant financial news and articles from the Internets
- 6 delicious new foods with booze snuck in | Business Insider
- Every time I tried to buy something on a recent trip to Spain, I was asked a question... | Business Insider
- Thousands of people on Facebook are helping a woman solve the mystery... | Business Insider
- Iran is planning on buying 90 planes per year to renovate its... | Business Insider
- Amy Schumer just made an emotional statement about standing up for what you... | Business Insider
- The Japanese are clueless about online dating, and that won't help... | Business Insider
- Notable Mergers and Acquisitions 8/3: (PRE) (SHPG... | StreetInsider.com