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
- Here Come The Boots On The Ground: US Troops Heading To Eastern Europe | ZeroHedge
- New Home Sales Collapse To 8 Month Lows | ZeroHedge
- Bonds, Gold, And Yen Smash Higher As Stocks Tumble | ZeroHedge
- Guest Post: Investors Are "Whistling Past The Graveyard" Over Global Geopolitics | ZeroHedge
- China's Largest Manager Of Bad Debt On The Economy: "Grim And Complicated" | ZeroHedge
- Guest Post: Piketty's Gold? | ZeroHedge
- This Is "Why" Caterpillar Is Trading At Two-Year Highs | ZeroHedge
The most relevant financial news and articles from the Internets
- 13 Signs You Have What It Takes To Be A Successful Entrepreneur | Business Insider
- Australia To Buy 58 More F-35 Fighter Jets For $11.6 Billion | Business Insider
- Shocking Report Claims 'At Least 40' Veterans Died... | Business Insider
- 9 Ways To Destroy Your Credit Score | Business Insider
- Apple Reports A Big Miss On iPad Sales (AAPL) | Business Insider
- The FCC Will Lay Out New Rules On Thursday That Could Destroy Net... | Business Insider
- E-COMMERCE INSIDER: Retailers'... | Business Insider