Needham starts Facebook with buy, $40 price target
(Reuters) - Brokerage Needham & Co started coverage on Facebook Inc with a "buy" rating, a rare positive take on the shares of the social network after they lost nearly a fifth of their value since the company's stock started trading last Friday. Facebook should be valued based on the revenue potential from total minutes spent on the website, Needham analysts said, setting a $40 price target on the stock. Facebook shares were up 4 percent at $32.35 in early trade on the Nasdaq. ...
Facebook told analysts to cut forecasts before IPO
(Reuters) - As Facebook Inc officials traveled the country to talk up the company's $16 billion initial public offering, the social networking giant advised analysts for underwriters to reduce revenue and earnings forecasts, according to people with direct knowledge of the matter. The advice came around May 9, the day the company published an amended prospectus that included a cautionary note about how Facebook's users were increasingly using mobile devices, which generate less advertising revenue for the company. ...
Regulators, investors turn up heat over Facebook IPO
(Reuters) - Two top U.S. financial regulators said on Tuesday the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its lead underwriter, Morgan Stanley, and the Nasdaq stock exchange. Facebook shares closed 8.9 percent lower at $31, following an 11 percent plunge on Monday. At that price the company has shed more than $19 billion in market capitalization from its $38-per-share offering price last week. ...
Ancient 'Iceman' Had Modern Ailments
Scientists have sequenced the genome of the famed 5,300-year-old Tyrolean iceman, found frozen in the Alps in 1991 -- and discovered he had genetic vulnerability to heart disease, as well as Lyme disease.
NASA Time-Lapse of Sea Currents
Click on the video below and prepare to be mesmerized. It’s called “Perpetual Ocean,” and it was put together by NASA’s Scientific Visualization Studio at the Goddard Space Flight Center in Maryland. It was actually done about a year ago, compiling data from several satellites...
Safety Experiment: Cars That 'Talk' to Each Other
Will traffic be safer and smoother if vehicles can “talk” to each other? That’s the question the Department of Transportation hopes to answer, starting this summer, with an ambitious year-long experiment in Ann Arbor, Michigan. In August the National Highway Traffic Safety Administration plans to...
