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Americans prefer gold, real estate

As the market wades through what many people hope is a sixth bull year, some have grown nervous about how long the run can go.

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The numbers that really matter will be those that trickle in over the next 3 to 6 months.

By The Fiscal Times May 18, 2012 8:48AM

By Suzanne McGee, The Fiscal Times


The most important and most watched numbers on Facebook's (FB) massive IPO are all in -- all but one, that is.

We know Facebook's underwriters priced its stock at $38 a share, at the top of the higher new range they had established only days earlier, and sold a total of 421.2 million shares, 25% more than originally anticipated.


That means the IPO raised $16 billion for the company and could still raise $2.4 billion more if underwriters sell their overallotment shares. It also gives Facebook an astonishing market capitalization, before it begins trading, of $104 billion.

 

After opening at $42.05, the stock sees a volatile day of trading and closes just above the $38 IPO price. Shares of Zynga drop so sharply that trading is halted.

By Kim Peterson May 18, 2012 7:48AM
Credit: © David Paul Morris/Bloomberg via Getty Images
Caption: Facebook Inc. signageUpdated 4:51 p.m. ET

Facebook
(FB) had a rough introduction to the market Friday.

The stock saw a quick burst in early trading, opening at $42.05, but within 20 minutes dropped back to its IPO price of $38 a share. The debut was surprisingly disappointing, given all the excitement around the IPO.

Things never really got much better. The stock later recovered slightly to more than $41, but lost steam in late trading and ended at $38.23 on trading volume of 566 million. That still placed the company's value higher than those of McDonald's (MCD), Citigroup (C) and Amazon (AMZN). 

Mark Zuckerberg has held on to control since starting the company in his college dorm room.

By Kim Peterson May 18, 2012 7:36AM
Credit: © Brian Snyder/Reuters
Caption: Mark ZuckerbergUpdated 4:25 p.m. ET

Mark Zuckerberg has come a long way from his Harvard dorm room in 2003, when he started a silly site called FaceMash that was pulled down within days by the university.

Zuckerberg would soon move from FaceMash to the more promising Facebook and would hold on to control as the company skyrocketed in popularity. Still, he probably had no idea that Facebook would become one of the hottest IPOs in history -- or make him so rich.

Facebook priced its IPO late Thursday at $38 a share. Right out of the gate, that made 28-year-old Zuckerberg worth a cool $19.1 billion -- on paper, at least. 
Tags: FBIPO

The bank's $31.3 billion purchase of HSBC's US card business was expected to include some pretty dramatic cost-cutting that is now being implemented.

By Trefis May 18, 2012 7:33AM

TrefisEarlier this month, Capital One (COF) finalized the acquisition of HSBC's (HBC) U.S. credit card business. And within days of the deal going through, Capital One swung into action with the process of integrating the new business --announcing a reduction of nearly 1,000 jobs in the erstwhile HSBC card units.

 

 

The deal, which was announced late last year, added credit-card loans worth more than $28 billion to Capital One's balance sheet and catapulted the bank to the third position in the private-label card industry, after General Electric (GE) and Citigroup (C).

 
Tags: CCOFGEHBC

The social network will start trading at $38 a share. Hewlett-Packard will cut 25,000 jobs.

By TheStreet Staff May 18, 2012 7:26AM

By Alexandra Zendrian

 

Updated at 8:18 a.m. ET

 

Facebook's (FB) eagerly anticipated IPO was priced on Thursday at $38 a share. The pricing gives Facebook a valuation of $104 billion, significantly above the market caps of Dell (DELL) and Hewlett-Packard (HPQ). At $38 a share, the offering will raise more than $16 billion. It's the biggest Internet IPO ever.

 

Computer giant Hewlett-Packard is reportedly set to cut 8% of its workforce, or roughly 25,000 jobs. Bloomberg said HP is being forced to rightsize its staff to cope with slow demand for its products and services. Bloomberg cited unnamed sources who have been briefed on the issue. HP's enterprise services group is expected to see a workforce reduction of 10,000 to 15,000 people.

 

Investors buying Facebook shares are betting that the company will find a way to monetize its 900 million users effectively.

By Wall St. Cheat Sheet May 17, 2012 7:55PM

Facebook (FB) hype has reached a new status. Thursday, the world's largest social networking company priced its initial public offering at $38, up from the $28 to $35 range set at the beginning of the month.


Facebook also decided to sell an additional 84 million shares, raising the total to more than 421 million shares. With the IPO finally pricing Thursday evening, how does Facebook stack up against other popular Internet names?


Facebook will raise over $16 billion in the offering. At that amount, it would become the third-largest IPO ever on an U.S. exchange, only following Visa (V) at $19.65 billion and General Motors (GM) at $18.15 billion.

 

A flood of shares could hit the market in 3 months.

By Jim J. Jubak May 17, 2012 5:27PM
What a terrible offering.

Facebook (FB) opens for trading Friday in an initial public offering that is beyond full of the normal fundamental uncertainties. That comes with the turf for hot IPOs, in my opinion.

But the structure of the offering just keeps getting worse and worse for investors. If you can get shares at the IPO price, buy them and flip them by all means. But you sure don't want to think this is a long-term investment.
 
Tags: FB

Both are mending, but only one looks like a profitable short-term bet.

By InvestorPlace May 17, 2012 3:20PM

Image: Target © Bloomberg/Getty ImagesBy Dan Burrows


Being a discount retailer coming out of the dot-com recession of a decade ago was a pretty good place to be. Wal-Mart (WMT) and Target (TGT), the two biggest discount chains, were sitting pretty and offering investors defense as cash-strapped consumers traded down from department stores in search of bargains and everyday low prices.


My, how times have changed. Wal-Mart, the world's biggest retailer, and Target, the chic-cheap discounter, are just now regaining their footings in the long aftermath of the Great Recession.

 

Windows Phone has the potential to become the third-largest smartphone platform in coming years.

By Trefis May 17, 2012 3:02PM
TrefisLinkedIn (LNKD) has launched a Windows Phone app to drive engagement on its platform.

The business-networking site already offered mobile apps for iOS and Android as well as an HTML 5 mobile website. However, the new app is targeted specifically at Windows Phone users.

Windows Phone may have a laughable market share in the smartphone space right now, but it is expected to become the third-largest smartphone platform in coming years. 

As the department store energetically reinvents itself, customers reject its new pricing model, and the plunging stock price reflects their sour mood.

By TheWeek.com May 17, 2012 2:56PM

JC Penney (JCP) reported this week that sales dropped 20% in the past quarter, a lower-than-expected result that caused the company's share price to suffer its worst single-day loss in 40 years.


Boosting sales has "been tougher than anticipated," conceded CEO Ron Johnson, brought on last year to "inject much-needed color, life, and enthusiasm into JC Penney's drab stores," says Abram Brown at Forbes.

The news in June 2011 that Johnson, the genius behind Apple's (AAPL) popular retail stores, would become CEO triggered a surge in JC Penney's stock price. So far, though, he has disappointed. Here, a guide to JC Penney's travails.

 

Despite worsening turbulence in Europe, these stocks still rate a buy.

By MoneyShow.com May 17, 2012 1:05PM

Image: Europe (© Photodisc/SuperStock)By Genia Turanova, Leeb Income Performance


It was a little more than two years ago that the first loan package for Greece was announced. At that time, the market didn't believe the $146 billion package was enough to solve the problem. Two years later, it's more than obvious that it failed to stop the contagion.


The survival of the euro itself is increasingly being called into question. Greece, whose crisis has only deepened over these two years, is the first candidate for a potential exit from the union.

 

The struggling daily-deals site sees shares soar after releasing a better-than-expected earnings report.

By TheWeek.com May 17, 2012 12:38PM

Image: Man with laptop (© Ken Seet/SuperStock)Groupon (GRPN) reported this week that revenue jumped by 89% from a year earlier, a better-than-expected result that surprised investors and sent the daily-deals site's shares up by 16%.

Groupon's stock had been declining ever since it launched its IPO in November, as investors soured on the company's poor earnings results and shady accounting corrections. Groupon was subsequently held up as the poster child for a burgeoning tech bubble, as over-exuberant investors had valued the company at close to $18 billion on its IPO -- a figure that soon fell as low as $6 billion, though it's since clambered back to $8 billion.

 
Tags: GRPN

Berkshire Hathaway is purchasing Media General's newspaper chain in a bet on the print business.

By Kim Peterson May 17, 2012 12:30PM
© Mario Tama/Getty ImagesCount on Warren Buffett to do the unexpected.

In a week when everyone is buzzing about Facebook and the future of online communications, Buffett is going old school and buying dozens of newspapers from Media General (MEG).

For a mere $142 million -- chump change for Berkshire Hathaway (BRK.B) -- Buffett gets 63 newspapers in four states. Separately, Berkshire is giving $445 million in loans and credit to Media General in exchange for warrants that would ultimately give Berkshire almost 20% ownership in the company. 

For only the third time in history, stocks are being hit with sustained selling pressure within a bull market. What does it mean for investors?

By Anthony Mirhaydari May 17, 2012 12:09PM

Image: Stock market crash (© Doriano Solinas/Getty Images/Getty Images)Another trading session, another big intraday reversal by stocks into negative territory as the Dow heads for its 10th loss in 11 days. As I discussed Wednesday, this is a big sign of weakness by the bulls, since they've been unable to retake the major technical support levels that were violated Monday. This is a very bad sign.

 

But the persistence of the selling pressure is also unusual, especially with the Dow still trading above its 200-day moving average. That's the traditional line in the sand between a bull and a bear market. Looking back, this has happened only two other times in the history of the market. What the market did after those two wipeouts might just surprise you. 

 

As the social network's shares begin trading, these related companies could get a boost.

By TheStreet Staff May 17, 2012 11:34AM

By Roberto Pendone

 

The excitement has been building for weeks ahead of Friday's much-anticipated Facebook (FB) debut on Wall Street. For a trader like me, this is like Christmas. Shares of Facebook could spike big time, and the derivative and sympathy plays should also see some hot action.

 

As a trader, I don't love that Facebook increased the float right before its debut. The lower the float, the higher the chance this stock can pop huge if demand is truly as high as some people are anticipating. Remember when LinkedIn (LNKD) went public? It didn't bring anywhere near 420 million shares to the market, and the stock more than doubled on its trading debut. To put things into perspective, LinkedIn's float right now is just 60 million shares.

 

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