Nasdaq seen struggling with aftermath of Facebook IPO
NEW YORK (Reuters) - Nasdaq OMX faces short-term costs from its botched handling of Facebook shares on their first day of trading but the longer term repercussions could be more expensive as it struggles to restore its image. Initially, the exchange said it plans to set aside $13 million to resolve bad trades, and even if all of that was used, the cost would be minimal compared with the $387 million in net income it reported last year. The bigger hit to Nasdaq's business is likely to come from the damage done to its reputation by the stumble. ... Watch: TechBytes: Facebook, Pinterest
Facebook is set to launch its initial public offering.
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