Facebook’s biggest lock-up period – a time following an IPO that prevents insiders from selling stock – expires on Wednesday.
Apple’s stock fell Wednesday along with a sharp sell-off in the broader market as investors, with the election behind them, dumped stocks and turned their focus to a world of problems – tax increases and spending cuts that could stall the nation’s economic recovery and a deepening recession in Europe.
Less than a week after activist investor Carl Icahn announced a 10 percent stake in Netflix, the online video company is moving to protect itself against hostile takeovers.
Facebook’s stock price fell Wednesday, the day employees were eligible to start selling restricted stock in the company.
Apple’s stock fell below $600 Friday for the first time in three months, after the consumer electronics behemoth warned that costs of making new products will cut into profits in the holiday quarter.
Facebook shares are posting their biggest single-day gain since going public, jumping 21 percent after the social media company made inroads in mobile advertising and posted accelerating growth in overall ad revenue.
Chipmaker Advanced Micro Devices Inc. has said it will cut nearly 1,800 jobs, about 15 percent of its workforce, by the end of the year in order to reduce spending in the face of dwindling sales.
EBay said Tuesday that its third-quarter net income grew 22 percent, helped by higher revenue at its PayPal payments service and the marketplaces business that includes eBay.com.
Shares of cloud-computing firm Workday rocketed higher in their first day of trading on the New York Stock Exchange.
Wells Fargo posted record earnings in the third quarter as the bank increased mortgage lending and pocketed more fees.