trade

Facebook's shares are trading lower on their second day on Nasdaq.

In pre-market trading this morning, the company's shares dropped 4.37 percent to $36.56, leaving them below their initial $38 offering price and their first-day close of $38.23.

Facebook's shares rose to a high of $45 on Monday before flirting with falling below their initial price. It was believed that the stock was buoyed by underwriters to ensure it didn't slip below $38.

Aside from Facebook finally going public, the big story on Friday was Nasdaq delaying its opening due to a technical glitch. … Read more

Design problems with Nasdaq's technology interfered with Facebook's IPO, the stock exchange's chief executive acknowledged today.

Tests conducted ahead of Friday's highly anticipated offering failed to detect problems with order cancellation, Robert Greifeld told reporters in an interview reported by The Wall Street Journal. He said Nasdaq was "humbly embarrassed" by the problems.

"This was not our finest hour," he said, adding that Nasdaq's board met Saturday to discuss the matter.

However, he maintained that the glitch was not responsible for the plunge in share price the stock experienced. Not long … Read more

Last update: 1:37 p.m. PT.

The world's largest social network is now a public company, and though it got off to a good start, the share price story for the day wasn't terribly inspiring.

Facebook today kicked off its IPO day at $38 a share, and in early trading, the company's stock jumped 12 percent to $42.50, and touched a high of $43.20.

But the shares took a startling plunge soon thereafter back to about the starting price before trending upward once again to just over $41 by early afternoon Eastern time. The … Read more

The U.S. International Trade Commission today ruled that Apple's iPhones and tablets violate one of Motorola Mobility's patents relating to Android devices, dealing another blow to Apple in the spat between the two companies.

In an initial determination (PDF) issued by ITC Judge Thomas Pender this morning, the ITC said Apple was violating one of Motorola Mobility's patents covering 3G wireless technology. In its original complaint, Motorola said Apple was infringing on the patent, along with four others, with its mobile devices, including the iPhone and iPad.

The ruling is preliminary and needs to be approved … Read more

NEW YORK -- The new 9/11 Memorial is stunningly beautiful and extremely visitor-friendly, but the names of the 2,983 people who died in the September 11 attacks and the 1993 World Trade Center bombing aren't listed alphabetically, meaning that visitors may need help finding specific names.

Yes, there's an app for that. Two, actually.

The memorial, which opened on September 11, 2011 -- the tenth anniversary of the attacks on the World Trade Center and the Pentagon, and the crash of Flight 93 in Pennsylvania -- has already had more than 2 million visitors, and thousands … Read more

Amazon today added used CDs to its trade-in program, which means that those old copies of Boyz II Men's "Cooleyhighharmony" or that first CD by the Strokes are finally almost as good as cash.

Don't have enough funds to get Mom something for Mother's Day? Better dig up your old Four Non Blondes and Spin Doctors collection if you know what's good for you. (Younger readers, please substitute Pink and Panic at the Disco for the artists in the previous sentence.)… Read more

Warning that checking sports scores or updating Facebook could be considered a crime, a U.S. appeals court rejected the government's broad interpretation of a nearly 30-year-old anti-hacking law in trying to prosecute a man for misappropriation of trade secrets.

In a 9-2 decision (PDF), the 9th U.S. Circuit Court of Appeals in San Francisco rejected the broad reading of the 1984 federal Computer Fraud and Abuse Act, warning that millions of Americans could be subjected to prosecution for harmless Web surfing at work.

The case centers on David Nosal, a former executive at recruiting agency Korn/Ferry … Read more

Facebook hasn't gone public yet, but investors have been trading the social network's shares for years. That may soon change.

Facebook has instructed secondary-market organizations, like SharesPost and SecondMarket, to stop trading its shares this week, Bloomberg reports. The move is designed to help Facebook determine who its shareholders are and to establish a proper valuation leading up to its initial public offering, Bloomberg's sources said.

Facebook filed for its IPO in February. The company hopes to raise $5 billion in the offering on a valuation that could soar past $100 billion. If that happens, it would … Read more

The Federal Trade Commission this morning released a wide-ranging report that stops short of endorsing a new "Do Not Track" law.

This morning's 120-page report instead asks Congress to enact a new law that "would provide consumers with access to information about them held by a data broker" such as Lexis Nexis, US Search, or Reed Elsevier subsidiary Choicepoint -- many of which have been the subject of FTC enforcement actions in the last few years.

But when it comes to a Do Not Track law targeting Web companies, which was proposed by legislation introduced last year, … Read more