Stocks to watch: Facebook, Yahoo

Facebook shares fall well below their IPO price.

By Benzinga May 21, 2012 11:17AM

Alibaba Group Holding Limited's Jack Ma has decided to repurchase about 20% of his company from Yahoo (YHOO) for $7.1 billion. The deal was announced Monday morning and has been a long time coming, as Alibaba has been showing interest in retaking claim on shares for years. After much discussion between the parties, a deal was finally agreed upon that will establish a new stage-based framework for Yahoo and Alibaba's relationship. YHOO opened at $15.98.

Facebook (FB) shares were down 12% in morning trading at $33.62 after increased marketing competition from Google (GOOG) and hesitant traders. As the 11th Internet company to go public in this year alone, FB has some catching up to do. LinkedIn (LNKD) and Groupon (GRPN) experienced surges in trading after their IPOs. FB opened at $36.56, while GOOG opened at $601. LNKD opened at $96.28, and GRPN opened at $11.46.

Home-improvement retailer Lowe's (LOW) has reported a strong first quarter, beating estimates and impressing analysts. Net earnings of $527 million were 14.3% higher than last year's earnings and far surpassed management guidance. LOW opened at $26.17, and shares dropped further in later trading.

The global electrical industry will see a growth-prompting merger, as Eaton Industries (ETN) has announced plans to acquire Cooper Industries (CBE) in the second half of 2012. The two will become one under Cooper's incorporated company in Ireland, likely to be named Eaton Global Corporation. ETN opened at $42.85, and CBE opened at $70.52.

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