Insight: Morgan Stanley cut Facebook estimates just before IPO
(Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company. The sudden caution very close to the huge initial public offering, and while an investor roadshow was underway, was a big shock to some, said two investors who were advised of the revised forecast. ...
Where are Facebook's friends? Stock down after IPO
Facebook was supposed to soar. Instead, it plunged.
Google CEO Larry Page on Charlie Rose -- Talks Facebook, Future of Google Google CEO Larry Page talks Facebook, Oracle and the future of Google in an interview airing Monday night on Charlie Rose. 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. ... Manage Your Facebook Page From this New App Facebook unveiled its new app on Monday that lets you manage your Facebook profile from your iPhone. Apple still dominates world's top brands: study
(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published on Tuesday. The iPhone and iPad maker has boosted its brand value by 19 percent in the past year to $183 billion, or 37 percent of its market capitalization, according to the annual BrandZ study by leading brands and market-research agency Millward Brown. ...
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