Everyone needs an Aunt Jill, right? She'll answer a few of our listeners' questions this … 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
Nokia has been on a cash-spending tear as of late, and most analysts believe there will be no way for the company to stop it.
Reuters today released the results of a poll it conducted with analysts on their thoughts related to Nokia's cash spending. According to the news service, analysts on average believe that Nokia will cut through 2 billion euros ($2.5 billion) in the next three quarters to keep its operation going. If Nokia does so, it would mean that its cash-spending rate would be accelerating: during the last five quarters, it burned through 2.1 … Read more
It's estimated that the Facebook IPO will create 1,000 new millionaires -- granted that's a small, ok, miniscule percentage in the scheme of things -- but still, we thought it prudent to give some words of wisdom to those burgeoning fat cats.
We know that some Facebook employees had grand visions of rocketing into space on Virgin Galactic or excavating Mayan ruins with their new-found fortunes, but Bill Harris of PersonalCapital.com says that cooler heads must prevail.
"The biggest thing is to resist it becoming an emotional decision as opposed to analytical decision," he … Read more
Facebook today revealed that it will have more shares than expected available to investors when it goes public on Friday. But the social network won't be the one cashing in on it.
Facebook will now offer up to 484.4 million shares of class A common stock, including overallotment, when it goes public on Friday. In a filing yesterday, Facebook revealed that it was only planning to go public with a maximum of 388 million shares. The increase has pushed the maximum amount of cash potentially secured in the offering up $3.66 billion from $14.7 billion to $… Read more
Facebook today revealed that it will be offering more Class A common stock than initially anticipated, in a move that bulks up its breathlessly awaited IPO by almost 25 percent.
In a revised S-1 Registration Statement filed with the Securities and Exchange Commission this morning, Facebook said that it will now offer 421.2 million shares of class A stock when it goes public on Friday. The company has also upped the amount of shares it will allow for overallotment from 50.6 million to 63.2 million. All told, the company could offer 484.4 million shares when it … Read more
Facebook's initial public offering is set to take place later this week. But a key component in that process -- accepting orders from investors -- is ahead of schedule, according to a new report.
The world's largest social network is planning to stop taking orders for its IPO as early as tomorrow, according to Bloomberg, citing a source. Facebook had initially anticipated calling off its orders on Thursday, but due to stronger-than-expected demand, it's pushing its schedule ahead somewhat.Facebook last week set out on its roadshow across the U.S. Prior to an IPO, a roadshow … Read more
Panasonic has joined a growing list of Japan-based companies that suffered through a difficult 2011 and early 2012.The company today announced that it generated 7.8 trillion yen ($97.6 billion) during the fiscal year ended March 31, down 10 percent compared to the prior year. What's worse, it lost 772 billion yen ($9.7 billion) during the 12-month period, reversing the 74 billion yen profit it generated in the prior year.
Although Panasonic said that the losses were due in part to natural causes, including the floods in Thailand and the earthquake in Japan, the company also … Read more
Sony's troubles during the fiscal year ended March 31 were major -- and its latest financials bear that out.
The company today announced its fiscal-year earnings (PDF), revealing that its revenue slipped by 9.6 percent compared to last year, ending the period at $79.2 billion. What's worse, Sony's fiscal-year loss hit a record $5.55 billion, effectively making it the worst fiscal year in the company's storied history.
Still, Sony tried to keep a brave face on its earnings, saying that its sales declines were primarily due to unforeseen circumstances, including a strong yen, … Read more
AOL has been getting hit from all sides by activist investor Starboard Value. But in a letter to shareholders, the company is hitting back.
"Starboard, and in particular its principal, Mr. Jeffrey Smith, have rebuffed AOL's numerous efforts to avoid a destructive and expensive proxy fight," AOL wrote in a letter to shareholders that was released today and dated yesterday. "We believe that Starboard's misleading proxy campaign not only prevents stockholders from making an informed vote at the Annual Meeting, but has created a destructive atmosphere for AOL and the long-term interests of all of … Read more