(Reuters) – Facebook Inc shares fell nearly 4 percent in busy trade on Wednesday as the company allowed employees to start selling roughly 230 million shares less than six months after its rocky market debut.
The world’s largest social network waived a provision that prevented employees from selling shares until November 14, making Facebook shares worth about $5 billion at current prices eligible for sale in the public market.
SAN FRANCISCO, Oct 29 (Reuters) – Facebook Inc’s
Silicon Valley headquarters are far away from the eye of
Hurricane Sandy, yet for employees of the social networking
company, the storm hit home.
After nearly six months of watching helplessly as the value
of Facebook’s stock crumbled, Facebook employees finally got the
greenlight to cash in some of their stock on Monday as the
“lock-up” on trading them expired.
SAN FRANCISCO (Reuters) – Google Inc unveiled a larger version of its Nexus-branded tablet computer on Monday, and updated its mobile gadget and online content offerings as competition with Apple Inc, Amazon.com Inc and Microsoft Corp heats up ahead of the holiday sales season.
The device follows a spate of new product launches by the technology leaders in recent weeks, including Apple’s iPad Mini last week and software-maker Microsoft’s first-ever home-built tablet, the Surface.
SAN FRANCISCO (Reuters) – The firing of Citigroup stock analyst Mark Mahaney on Friday in the regulatory fallout from Facebook Inc’s initial public offering was greeted with shock and dismay in Silicon Valley, where Mahaney was a well-known and well-liked figure.
“Pretty shocked,” was the reaction of Jacob Funds Chief Executive Ryan Jacob, who described Mahaney as one of the most respected financial analysts covering the Internet industry.
SAN FRANCISCO (Reuters) – Yahoo Inc said on Thursday it bought a small, mobile start-up company in New York, marking one of new Chief Executive Marissa Mayer’s first moves to revamp the struggling Web pioneer by acquiring outside products and technology.
Yahoo purchased Stamped, which makes a product that lets consumers share favorite restaurants and music on their smartphones. It did not disclose financial details.
SAN FRANCISCO, Oct 23 (Reuters) – Facebook Inc grew
mobile advertising revenue several times in the third quarter, a
faster-than-expected pace that helped drive shares in the
world’s No. 1 social network nearly 13 percent higher.
Facebook said on Tuesday that it now gets 14 percent of its
advertising revenue from mobile ads, helping to reassure
investors that the social network is beginning to figure out how
to earn money off smartphone and tablet users.
SAN FRANCISCO (Reuters) – Facebook Inc grew mobile advertising revenue several times in the third quarter, a faster-than expected pace that helped reassure investors that the world’s No. 1 social network is beginning to figure out how to earn money off smartphone and tablet users.
The company now gets 14 percent of its advertising revenue from mobile ads, translating into more than $150 million — a surge from an estimated $40 million to $50 million in the second quarter and almost nothing in the first.
SAN FRANCISCO (Reuters) – Yahoo Chief Executive Marrisa Mayer promised to modernize Yahoo’s websites and make them more smartphone-friendly in her debut appearance at the helm of the struggling company, faulting it for underinvesting in the “mobile wave”.
Mayer, once a rising star at Google Inc who took charge at Yahoo in July, told analysts on a conference call that she wanted to focus Yahoo’s efforts around the “daily habits” of users such as email, the home page, Internet search and mobile devices.
SAN FRANCISCO (Reuters) – Yahoo Inc’s quarterly earnings beat expectations, but Wall Street remains keen to hear new CEO Marissa Mayer outline her plan for reviving the struggling Web company’s revenue growth.
Yahoo shares were up about 3 percent at $16.23 in after hours trading on Monday.
SAN FRANCISCO, Oct 22 (Reuters) – Yahoo Inc’s
quarterly earnings beat expectations, but Wall Street remains
keen to hear new CEO Marissa Mayer outline her plan for reviving
the struggling Web company’s revenue growth.
Yahoo shares were up about 3 percent at $16.23 in after
hours trading on Monday.