Stock market today, July 24, 2014: U.S. markets were mixed on Thursday on lackluster economic data. Industrial giant Caterpillar Inc.'s (NYSE: CAT) poor quarterly report offset gains from Facebook Inc. (Nasdaq: FB). Shares of Caterpillar were off more than 3% after the company raised its yearly outlook but posted a quarterly decline. Shares of Facebook were up more than 6.5% hitting a new intraday record.
The earnings calendar is jam-packed this week with big results from Facebook (Nasdaq: FB) and Under Armour (NYSE: UA) most recently, and results are helping the Standard & Poor's 500 Index hit record highs.
S&P 500 companies are beating on EPS and revenue at a rate not seen in years. The index components that have reported are beating revenue consensus estimates by 1.43% on average.
So far in 2014, we've seen Facebook stock (Nasdaq: FB) continue its dramatic share price rebound, Twitter stock (NYSE: TWTR) plunge more than 40%, and two new social media IPOs debut - GrubHub (NYSE: GRUB) and Weibo (Nasdaq: WB) - but have you ever wondered, how do social media companies make money?
Of all the problems plaguing Facebook Inc. (Nasdaq: FB), rival messaging services is a big one.
In a move aimed at tackling that growing issue, the world's largest social media company announced Monday it has hired PayPal executive David Marcus.
Facebook (Nasdaq: FB) stock has climbed 161% in just one year - a great reversal from its 53% tumble in the first three months of trading.
Facebook stock's rebound is one reason investors were praising Facebook Founder and Chief Executive Officer Mark Zuckerberg at the recent shareholder meeting, in addition to FB's recent buying spree.
The Facebook (Nasdaq: FB) stock price is up 60.5% from the IPO price - so investors were thrilled at the shareholder meeting.
Facebook Inc.'s second annual shareholder meeting will bring something new to the table...
This year's gathering, to be held today at the Sofitel San Francisco Bay, could get feisty as it marks the first time stockholders are able to put their own proposals up for vote.
The good news going in to the meeting is the Facebook (Nasdaq: FB) stock price is in much better shape than it was at the time of its first shareholder meeting.
Since an unsuccessful $3 billion takeover attempt of Snapchat in 2013, Facebook Inc. (Nasdaq: FB) has been developing its own video messaging app to compete with its competitor.
Known within the company as Slingshot, Facebook has been working on the new messaging app since Snapchat rebuffed its overtures late last year, reports the Financial Times. And, CEO Mark Zuckerberg has personally been overseeing the top-secret project, according to people familiar with the matter.
Announcements from the Facebook Inc. F8 developer conference in San Francisco Wednesday amplified the company’s recent focus on mobile - and in particular efforts to monetize mobile.
Such a strategy is just what investors have wanted to see, and it will serve as a powerful catalyst for Facebook stock.
To add to its string of significant acquisitions, Facebook (Nasdaq: FB) has purchased Moves, a free app that logs users' daily exercise and fitness routines.
It also keeps track of places visited, with a map showing where users have been throughout the day and how they got there.
Facebook Inc. (Nasdaq: FB) reported blockbuster Q1 2014 numbers Wednesday after the close.
FB stock is up 3% in afterhours trading as earnings were stellar from Q1 2014.
Money Morning Capital Wave Strategist Shah Gilani knew, even when Facebook slumped below $20 in late 2012, that the company had tremendous promise. When he failed to catch the bottom back then, Gilani vowed to pounce when the time was right.
In February, when Facebook announced its $19 billion acquisition of WhatsApp Inc., Gilani did just that.
Facebook has made a string of important acquisitions recently: A mobile messaging app, a satellite drone maker, and a virtual-reality company.
Now things are really getting interesting as the company moves into another burgeoning industry: mobile payments.
The demise of momentum stocks, or Facebook Inc. (Nasdaq: FB) stock at least, appears to be greatly exaggerated.
Shares of Facebook, a notable momentum stock over the last 12 months, spiked $4.22, or 7.3%, to $62.41 Wednesday. The move marked the stock's best one-day gain since Jan. 30.
Over the last three months, shares of the social networking leader are up 9%. Year to date, they have logged gains of 14.2%. FB shares were up more than 25% earlier this year, but slipped along with other high-growth stocks over the last few weeks amid a notable shift from growth to value.
Why the sudden slip in Facebook (Nasdaq: FB) stock?
Shares of the social networking leader slipped some 5% intraday Friday to $56.50. That followed a 5.15% drop on Thursday. The recent slump has nearly wiped out all of 2014's gains and leaves shares close to FB's Jan 2 opening price of $54.83.
While FB shares are still up a modest 5% year to date, they sit roughly 20% off the highs hit less than a month ago.