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Jul 30, 2013

Facebook stock almost hits IPO price, 14 months after rocky debut

SAN FRANCISCO (Reuters) – Facebook Inc’s stock on Tuesday came within a hair’s breadth of reclaiming its $38 debut price for the first time since going public in 2012, as Wall Street cheered its progress in mobile advertising.

The stock has surged more than 40 percent in the past week after the company reported blowout quarterly results, putting to rest investor concerns about its long-term business prospects.

Jul 26, 2013

Facebook offers the dummy’s guide to mobile advertising

SAN FRANCISCO/NEW YORK (Reuters) – Facebook Inc’s mobile advertising success offers a ray of hope for Internet companies trying to make money within the confines of the smartphone’s small screen.

The social network’s 75 percent surge in mobile ad revenue in a span of just three months not only doused skepticism on Wall Street and Madison Avenue about Facebook’s business prospects, some say it could serve as a how-to guide for other Web companies navigating a world where the phone and tablet have fast become the screens of choice.

Jul 25, 2013

Facebook shares soar as users, mobile ads climb

SAN FRANCISCO, July 24 (Reuters) – Facebook Inc
delivered strong evidence it can thrive on smartphones and
tablets on Wednesday, reporting a much better-than-anticipated
surge in mobile advertising revenue in the second quarter that
ignited a nearly 17 percent share rally.

The world’s No. 1 social network also reported an uptick in
daily visitors to its service, allaying worries that a new crop
of fast-growing mobile upstarts like WhatsApp and Snapchat could
cut into the time consumers spend on Facebook.

Jul 24, 2013

Facebook revenue up 53 pct; users, mobile ads climb

SAN FRANCISCO (Reuters) – Facebook Inc(FB.O: Quote, Profile, Research) delivered strong evidence it can thrive on smartphones and tablets on Wednesday, reporting a much better-than-anticipated surge in mobile advertising revenue in the second quarter that ignited a 20 percent share rally.

The world’s No. 1 social network, which is battling increasingly aggressive upstarts like WhatsApp for users’ time, grew mobile advertising revenue 76 percent to $656 million from the previous quarter.

Jul 24, 2013

Facebook shares leap 20 percent as users, mobile ads climb

By Alexei Oreskovic

(Reuters) – Facebook Inc beat Wall Street’s revenue targets as its mobile advertising business gains steam and the Internet company reported a rise in the number of users who visit its online social network every day.

Shares of Facebook jumped 20 percent to $31.81 in afterhours trading on Wednesday.

Jul 24, 2013

Google unveils new Nexus 7 tablet to expand hardware role

SAN FRANCISCO (Reuters) – Google Inc on Wednesday showcased a new-generation, slimmer Nexus 7, which the Internet search company hopes will expand its presence in consumer hardware and ensure that its online services remain front-and-center on mobile devices.

The new Nexus 7, featuring a Qualcomm Inc Snapdragon processor and a higher display resolution, on July 30 will be priced at $229 for a basic version with 16 gigabytes of storage. The original year-old tablet started at $199 for an 8 gigabyte version.

Jul 23, 2013

Third Point to sell most of Yahoo stake, Loeb to quit board

SAN FRANCISCO (Reuters) – Activist hedge fund Third Point LLC reached an agreement to sell two-thirds of its stake in Yahoo Inc back to the company, pocketing a tidy profit and relinquishing three seats on the board of a company trying to effect a tricky turnaround.

Third Point’s decision to sell a chunk of its single largest corporate holding comes as the struggling Internet company’s stock fell over 4 percent on Monday after having surged more than 80 percent during the past 12 months, due largely to aggressive share buybacks and the value of Yahoo’s Asian assets.

Jul 22, 2013

Yahoo to buy back 40 million shares from Third Point

By Alexei Oreskovic

(Reuters) – Activist hedge fund Third Point LLC reached an agreement to sell two-thirds of its stake in Yahoo Inc back to the company for $29.11 per share on Monday, sending shares of the Internet company down nearly 5 percent.

Three Yahoo board directors appointed by Third Point, including Daniel Loeb, the hedge fund’s chief, will resign from Yahoo’s board. Third Point will still own about 20 million shares, less than 2 percent of the Internet media company’s common stock.

Jul 18, 2013

Google quarterly results miss estimates, Motorola weighs

SAN FRANCISCO (Reuters) – Google Inc reported second-quarter results short of Wall Street’s estimates as weakening prices for the Internet company’s ads and widening losses from its Motorola mobile phone business weighed on the bottom line.

Shares of Google, which had risen to all-time highs in recent weeks, were down more than 5 percent at $863 in after- hours trading on Thursday, having earlier closed at $910.68 on the Nasdaq.

Jul 17, 2013

Plunging ad prices underscore doubts over Yahoo turnaround plan

SAN FRANCISCO (Reuters) – Marissa Mayer’s plan to resuscitate Yahoo seems a simple one: get back the eyeballs, sell more ads and charge higher prices. But the chief executive’s plan seems to have run into a major snag.

The price the company charges per ad slid 12 percent in the April to June period, six times the decline just a quarter ago – a fall that some say highlights how Yahoo has been caught unprepared for the industry shift to automated, programmatic ad buying.

    • About Alexei

      "I write about Internet companies including Google, Yahoo and Facebook. I’ve covered technology and business for more than ten years at publications including TheStreet.com, CNET and The Industry Standard magazine."
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