Intel is cutting its third-quarter revenue forecast due to softer-than-expected demand amid difficult economic conditions.
In an SEC filing late Tuesday, Facebook said that founder and CEO Mark Zuckerberg “has no intention to conduct any sale transactions… for at least 12 months.”
Apple’s surging stock propelled the company’s value to $624 billion, the world’s highest, ever, beating the record for market capitalization set by Microsoft Corp. in the heady days of the Internet boom.
Facebook’s beleaguered stock got an afternoon boost after hitting its lowest level ever earlier in the day.
Facebook’s early investors and a handful of top executives become eligible on Thursday to sell stock they own in the social networking company. It marks the beginning of a time-honored process for public companies, which will culminate in the fall, when many Facebook employees receive the same right to sell their shares.
Investors are dumping Facebook’s stock, spooked by slowing revenue growth, the lack of a financial outlook and plans to spend more money in the coming months. Are they right?
Shares of Apple fell Wednesday after it did something un-Apple-like: posting results below Wall Street expectations.
Peet’s Coffee & Tea is being taken private for approximately $977.6 million.
The stock fell $1.03, or 3.8 percent, to close Tuesday at $25.87. It’s 32 percent below its initial public offering price of $38. It’s the stock’s lowest closing price to date. Earlier Tuesday, it went as low as $25.75.
Facebook’s stock jumped $1.41, or 5 percent, to close Thursday at $29.60. The stock is still down 22 percent since its highly anticipated initial public offering two weeks ago.