Asia stock markets sink on US, Europe worries
Asian stocks dived Friday after discouraging U.S. economic reports unnerved investors already worried about the stability of the 17-country euro currency union.
Facebook’s IPO one of world’s largest
Facebook's initial public offering of stock is one of the largest ever. The world's definitive online social network is raising at least $16 billion for the company and its early investors in a transaction that values Facebook at $104 billion.
Nervous investors send S&P lower for fifth day
NEW YORK (Reuters) - Stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for U.S. economic recovery. Growing worries over developments in the euro zone and lackluster economic data pushed the S&P's losing streak to five consecutive days. The index, which closed at a level not seen since mid-January, has now relinquished more than half of its gains from the first quarter. ...
Facebook’s IPO movie better than ‘Social Network’
A short documentary now playing on the Internet is the best movie about Mark Zuckerberg yet. It's studded with clues to the workings of Zuckerberg's brain, and possibly even clues to the future of Facebook, which makes its initial public stock offering on Friday. The film is called “ Facebook IPO Roadshow,” and it runs a little over 30 minutes. The ingenious and disturbing film was conceived as the centerpiece of the dark-charm offensive that Facebook launched to beguile new investors. ...
Nasdaq falls 1 percent
NEW YORK (Reuters) - Stocks fell on Thursday, with the Nasdaq down 1 percent and the S&P on track for a fifth straight day of declines as weak U.S. economic data spooked investors already concerned about the ongoing debt crisis in Europe. The Dow Jones industrial average dropped 68.95 points, or 0.55 percent, to 12,529.60. The Standard & Poor's 500 Index dropped 9.28 points, or 0.70 percent, to 1,315.52. The Nasdaq Composite Index dropped 31.44 points, or 1.09 percent, to 2,842.60. (Reporting By Edward Krudy, editing by Dave Zimmerman)
Groupon CEO, founders to keep shares after lockup
NEW YORK (Reuters) - Groupon Inc Chief Executive Andrew Mason and the company's other founders are planning to keep their shares in the company after a trading lock-up expires on June 1. Groupon's lock-up expiration will allow some pre-initial-public-offering investors to sell their shares, and analysts say that the approach of the expiration has put Groupon's stock under additional pressure. "We have no intention to sell," Mason said during a webcast of an investor meeting on Thursday, adding that he believes in the long-term future of the online coupon company. ...
Analysis: Facebook can’t take Asian growth for granted
SINGAPORE (Reuters) - Even as Facebook fever grips investors ahead of the social networking giant's potential $100 billion-plus initial public offering, its breakneck growth in Asia may be slowing as it moves beyond desktop users to those who access the Internet largely or solely from a mobile phone. In March, Facebook revised its own SEC filings to scale back its scope for further growth in India - its third-biggest user base and the largest population it currently has access to - China remains off-limits to Facebook. ...
Global shares recover slightly, but Greece fears remain
TOKYO (Reuters) - Asian shares recovered some ground on Thursday from the previous day's sell-off, but investors found little reason to chase risk amid deepening turmoil in Greece and fears of contagion to other stressed euro zone economies. Against a background of financial instability in Greece's banking sector, European shares were set to start mixed, with financial spreadbetters predicting that major European markets would open between a 0.2 percent drop and a 0.1 percent rise. U.S. stock futures were up 0.6 percent. ...
Facebook investors to cash out more shares
Insiders and early Facebook investors will be unloading more of their shares in the initial public offering, the company said Wednesday, as they take advantage of investor demand.
GE Capital gets OK to resume dividend to parent
(Reuters) - General Electric Co's finance arm won regulatory approval on Wednesday to resume returning some of its profit to the parent company, a move that came earlier than some analysts had expected and could clear the way for GE to speed up stock buybacks and raise its shareholder dividend. GE Capital plans to pay a $4.5 billion special dividend to the largest U.S. conglomerate later this year, which investors described as a sign that its regulator, the Federal Reserve, has confidence in the unit's financial position. ...
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