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Tomorrow will be a gap up again.
It's stabilizing. Time to move higher!
It's fun watching FMCC chasing FNMA all the way up.
Going to gap up again tomorrow. :)
Power hour is coming. Exciting day today.
This looks like the run when it went to $5. Let's do it again!
This looks like the run when it went to $5. Let's do it again!
Close at HOD! Very exciting day. Looks like we will see $2 by end of week.
It's moving back up. Earnings is getting close and this will fly on earnings.
Last Report: Q2 Earnings on 07/24/13 Reported Earnings: $0.19 per share Next Expected Report Date: 10/30/13
FB exceeded the First Call Consensus of $0.14 and Log in to view StarMine SmartEstimate information.
https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/earnings.jhtml?symbols=FB
Next Earnings Expected Report Date: 11/08/13
https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/earnings.jhtml?stockspage=earnings&symbols=FMCC
Facebook launches video app install ads
02:54 PM ET · FB
While the launch of Facebook's (FB -0.7%) anticipated (and potentially very lucrative) news feed video ad product remains pending, the company is rolling out a video option for its fairly successful mobile app install ads. Developers can embed videos into their ads, which appear within news feeds displayed on Facebook's Android/iOS apps.
Facebook is also giving developers the option to pay for ads on a per-install basis, rather than per ad click or 1K ad impressions. The new options come three weeks after Facebook rolled out a reminder ad option for users who have already installed an app, and disclosed its app install ads have driven 145M downloads.
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Facebook higher, Goldman sees another strong quarter for mobile
02:26 PM ET · FB
Goldman's Heather Bellini, a long-time Facebook (FB +1.1%) bull, thinks there could be upside to a Q3 mobile ad sales consensus of $791M, which represents 20% Q/Q growth relative to Q2's blowout figure of $656M (+75% Q/Q from Q1). Oddly enough, her own forecast is still at $729M.
Bellini says Goldman's online ad contacts "again reported FB's ad products deliver the best performance outside of search," and the performance of the FBX exchange (display ads based on non-Facebook activity) especially stood out. A majority of contacts also reported major growth in mobile ad spend.
Bellini's PC ad forecast is below consensus ($890M vs. $914M), but her Payments forecast is above ($220M vs. $209M). Ad prices are expected to grow 8% Y/Y, and impressions 38%.
Facebook is making new post-IPO highs again. Bellini raised her PT to $58 from $52 in late September, following positive talks at the AdWeek 2013 conference.
Q3 results are due on Oct. 30.
Nasdaq futures, Internet stocks rise AH following Google's Q3 beat
06:00 PM ET · QQQ
Nasdaq-100 (QQQ) futures +1.1% AH after Google beats Q3 estimates on the back of strong paid click growth. The gains follow a trading session in which the Nasdaq again made new 52-week highs.
Several Internet stocks have followed Google higher in AH trading. FB +1.9%. AMZN +1.3%. LNKD +1.2%. YELP +2.6%. Z 1.4%.
AH is going crazy for FB. ;)
We are in for another green day tomorrow. Loving it!
Earnings got moved to end of this month. We have some time to move to the $60 range by earnings.
New highs!
This will probably be green by eod.
2 more weeks till earnings. We will probably be at the $60 range by than. :)
Facebook rallies: Evercore raises PT, new ad product launched
11:09 AM ET · FB
Evercore's Ken Sena has raised his Facebook (FB +2.5%) PT to $60 from $45, and thinks Instagram (about to launch its first ads) could generate $340M in 2014 revenue (~3% of Facebook's total sales).
Sena also sees Facebook's efforts to deliver targeted ads using data about non-Facebook activity yielding "additional pricing strength" and creating offline commerce opportunities, and calls pricing checks "exceptionally strong."
He observes Facebook's 2012 U.S. ARPU was only $13 - its 2013 figure will doubtlessly be higher - less than Yahoo's $18 and the New York Times' $20, and far below Gannett's $48 and Google's $80.
Separately, Facebook has updated its Custom Audiences platform, which thus far focused on enabling targeted ads based on offline activity, to allow marketers to deliver news feed ads based on Web site/app activity.
Facebook asserts the new ads are complementary to those enabled by its FBX Exchange (also deliver retargeted ads). It's pitching the former to "businesses that don’t typically work with third parties," and the latter to larger firms.
Previous: Instagram chief discusses product plans
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When the government is back up and running than I think this will move up hard.
The entire market is down. The government shutdown is making the entire market go down.
SAN FRANCISCO (MarketWatch) - Instagram is about to start running ads on the photo and video sharing site, the company said Thursday. Instagram is owned by Facebook Inc. FB +0.93% "In the next couple of months, you may begin seeing an occasional ad in your Instagram feed if you're in the United States," Instagram said in a blog post. "Seeing photos and videos from brands you don't follow will be new, so we'll start." Analysts have long speculated that Facebook may soon post ads on Instagram, a move that they said would allow the social network to boost revenue. Shares of Facebook were up more than 1% in after-hours trading.
FB branching out to real estate. Nice!
Facebook building $120M housing complex; Pivotal goes contrarian
11:18 AM ET · FB
Add residential real estate to the list of fields Facebook (FB -1%) is dabbling in: the social networking giant is spending $120M to build a 394-unit housing complex near its Menlo Park, CA HQ. The WSJ states the complex, known as Anton Menlo, will "include everything from a sports bar to a doggy day care."
Though Facebook's main goal is to address the housing needs of its workers, the apartments will go for market rates, and all but 15 will be open to non-Facebook employees. The initiative comes as Facebook builds a new wing to its HQ with the help of architect Frank Gehry.
Meanwhile, Pivotal Research is going contrarian on Facebook, cutting shares to Hold following a 90% run-up since July 24 (the day of the Q2 report). Analyst Brian Wiesner notes shares have passed his $48 PT, and thinks they could sell of following the Q3 report (due Oct. 30) "if expectations begin to circularly run further ahead of themselves."
Plenty of firms have upgraded Facebook, or launched coverage with a bullish ratings, since the Q2 report.
By Deepa Seetharaman
DETROIT (Reuters) - Tesla Motors Co (TSLA) shares fell 6 percent on Wednesday after an automotive blog published images of a Model S electric sedan in flames after an accident on Tuesday morning just south of Seattle, Washington.
The blog, called Jalopnik, posted pictures and a video of the Model S fire on Wednesday. Tesla confirmed the authenticity of the images and said the car caught fire after the driver ran over a "large metallic object" causing extensive damage to the front end of the car.
Tesla shares fell 6.2 percent to $180.95 on the Nasdaq, their biggest one-day decline since mid-July.
It is unclear if the Model S lithium-ion battery pack was damaged. Firefighters found it difficult to quash the flames, and fire damage made it tough to determine the impact of the object on the car, Chris Webb, a spokesman for the Washington State Patrol said.
The driver told state troopers that he struck metal debris while on State Route 167 around 8:18 a.m. local time on Tuesday, in Kent, a city located some 20 miles south of Seattle, he said.
The car's alert system instructed the driver to pull over and he got off the highway and out of the vehicle, Tesla said in a statement.
"The driver stated that he began to smell something burning and a short time later the vehicle caught on fire," Webb said, citing information from the state trooper investigating the incident.
"It took the fire department several attempts to extinguish the flames as it kept reigniting," Webb said in an email. The car's tires were burned up and officials dispatched a flat bed truck to remove the car, he said.
The Model S, like many other "green cars," is powered by lithium-ion batteries, a relatively new technology to the auto industry that is much more powerful than the traditional lead-acid batteries, but also carries a larger safety risk, battery experts have said.
Investors are wary of lithium-ion battery fires because they could hurt consumer demand, at least in the short-term, analysts have said.
Tesla spokeswoman Liz Jarvis-Shean had no immediate comment on the trooper's description of the fire. She added that Tesla, which exclusively makes electric cars, is studying the incident now.
Tesla's only vehicle for sale now is the Model S, although the Model X crossover is on the horizon.
Separately on Wednesday, Robert W. Baird & Co analyst Ben Kallo downgraded Tesla shares to "neutral" from "outperform."
So far this year, Tesla shares have surged more than 400 percent, buoyed by the successful launch of the Model S. But some investors and analysts believe the stock is over-valued.
Tesla's market value currently is around $23 billion, nearly half that of General Motors Co (GM), which is worth $49 billion.
"TSLA has several significant milestones over the next 18 months including continued production ramp and the introduction of the Model X," Kallo said in a note.
"We believe solid execution on both of these fronts is already priced into the stock, and any hiccups in execution present stock price risk in the near to intermediate term."
(Reporting by Deepa Seetharaman and Bernie Woodall; Editing by Carol Bishopric)
Facebook tweaks app ads, Google steps up measurement competition
05:40 PM ET · FB
Facebook (FB) has updated its app install ad product to give developers the ability to send reminder ads within Facebook's apps to users who have rarely opened a downloaded app. The ad might feature a prompt such as "Watch Video" that opens up an app when clicked.
Facebook also discloses its app install ads have now driven 145M downloads; that suggests the download rate has grown quickly from the 25M reported for Q1. 8.4K developers used the ads in Q2.
Meanwhile, Google (GOOG), which is increasingly competing with Facebook in the online and mobile ad realms (both directly and indirectly), has launched Estimated Total Conversions, a measurement tool for its core AdWords search ad platform that uses Google login data to track ad conversions across devices.
Google says a travel ad test for the tool led to an 8% increase in tracked conversions, and a 33% increase "conversions that originated on a mobile phone and later converted on different device." Thus, like Enhanced Campaigns, the product aims to integrate PC and mobile advertising, and in doing so lift mobile ad rates.
BI observes Facebook rolled out a cross-device conversion tracking tool in January. The company is also relying on the purchase of Microsoft's Atlas unit to improve ad measurement.
Recently Facebook (FB) made public that it had assembled a team of experts to begin work on its "Deep Learning" Artificial Intelligence project. Facebook has hired deep learning expert Marc'Aurelio Ranzato away from Google for its new group. Other members include Yaniv Taigman, cofounder of the facial recognition startup Face.com , computer vision expert Lubomir Bourdev and veteran Facebook engineer Keith Adams
The project is an attempt to develop an AI or Artificial Intelligence program that can simulate the neural network type processing that the human brain uses. Deep learning has shown potential as the basis for software that could work out the emotions or events described in text even if they aren't explicitly referenced, recognize objects in photos, and make sophisticated predictions about people's likely future behavior.
Facebook's chief technology officer, Mike Schroepfer, will say that one obvious way to use deep learning is to improve the news feed, the personalized list of recent updates he calls Facebook's "killer app." The company already uses conventional machine learning techniques to prune the 1,500 updates that average Facebook users could possibly see down to 30 to 60 that are judged most likely to be important to them. Schroepfer says Facebook needs to get better at picking the best updates because its users are generating more data and using the social network in different ways.
"The data set is increasing in size, people are getting more friends, and with the advent of mobile, people are online more frequently," Schroepfer told MIT Technology Review. "It's not that I look at my news feed once at the end of the day; I constantly pull out my phone while I'm waiting for my friend or I'm at the coffee shop. We have five minutes to really delight you."
Digital Trends recently reported that Facebook's AI project is also looking to get "emotional".
This past year, Facebook started asking you more than just what you were doing or thinking about in the status update box; it also wanted to know how you were feeling. The AI Facebook is developing will take this a step further, because the site wants to be able to know what the inflection and emotion behind your posts is; things like sarcasm are hard (for a computer… and some people) to read, and funny-sarcastic post that gets 20 comments and "likes" might not initially get the right News Feed treatment because Facebook just didn't get it.
(click to enlarge)
Any by understanding your emotions and what your like better, Facebook might be able to show you the types of things you're more likely to want to see - or not want to see. For instance, if you write "Really, we get it, your baby is cute - please post 18 more albums of them today!" Facebook would be able to understand you actually don't want to see more baby photos.
With Facebook shares trading at all time highs in the 50-51 dollar range, many investors are beginning to question the potential for growth to feed this growing share price. The advertising dollar impact with a successful AI program in place is nothing less than huge. Television has been losing ad dollars consistently as Web based ads have proven to deliver a significantly higher ROI. Taking advertising to the level of understanding how you feel at any given moment gives Facebook an advantage that others simply do not have a window into.
Facebook has successfully made the move to mobile and mobile is where everything is converging. By successfully implementing AI software to help disseminate the tremendous amount of data that is and will be able to be mined, Facebook is positioning itself to be the undisputed leader in Mobile advertising.
(click to enlarge)
Today's stock price may seem high to some but when set against the future potential that Facebook is looking to bring to market these prices will some day look like a bargain.
Disclosure: I am long FB. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Facebook hires new U.S. ad sales chief, expands Graph Search's reach
12:00 PM ET · FB
Facebook (FB +0.3%) has hired David Lawenda, formerly Univision's ad sales chief, to head its U.S. ad sales efforts. The hiring comes two months after North American ad sales chief and 7-year Facebook vet Tom Arrix left, and a day after Flurry announced it has hired top Facebook ad strategy exec Grady Burnett to be its COO.
North America accounted for 47% of Facebook's Q2 revenue ($848M out of $1.81B).
News of the hiring comes as Facebook expands Graph Search's reach to include status updates, comments, and photo captions, and check-in info shared with a particular user. Until now, Graph Search (made available this summer to all U.S. users) was focused on profile data and user "likes."
If users take a liking to Graph Search, it could provide a large boost to Facebook's search ad revenue, particularly given the ad targeting possibilities for business/product-related searches. But it remains to be seen how interested users will be in performing the kind of complex, multi-part queries Graph Search enables.
FB is too strong! Getting pretty close to earnings again.
When is earnings? Is it in 3 weeks? This will probably be in the 60's by than.
Here comes another run! :)
AMD Completes Sale and Lease-Back of AMD Singapore Facility to Sabana Shari'ah Compliant Industrial Real Estate Investment Tr...
AMD (NYSE: AMD) today announced that its Singapore subsidiary, Advanced Micro Devices (Singapore) Pte Ltd. (AMD Singapore), has completed a transaction to sell and lease-back its Singapore facility located at 508 Chai Chee Lane, Singapore 469032 to HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT). The transaction generated proceeds of approximately SG$59 million Singapore dollars (US$46 million) net of all fees. AMD will record a gain of approximately US$16 million related to the transaction in the third quarter of 2013. AMD Singapore will continue its operations in a portion of the Singapore facility and has commenced a 10-year lease agreement with Sabana REIT with extension options.
The sale of AMD's Singapore facility is in keeping with AMD's strategy to reduce investments and capital in non-core parts of the business, including real estate. AMD launched operations in Singapore in 1984 and remains committed to the site as a vital part of the company's global operations. In 2012, AMD Singapore completed its transformation from a high-volume manufacturing site to an engineering center of excellence and currently employs approximately 500 people.
NEW YORK (MarketWatch) -- Citigroup Inc. C +0.39% said late Wednesday that it will pay $395 million to Freddie Mac to settle accusations that the bank misrepresented mortgage-backed securities that it sold to Freddie. The settlement covers 3.7 million loans. Notably, it doesn't cover only loans made in the run-up to the financial crisis: Instead, it covers loans made between 2000 through just last year. Citi could still be fined over its sale of other mortgage-backed securities. The bank says it has enough cash stashed away for potential future settlements. Other big banks have faced similar accusations, and news broke late Wednesday that J.P. Morgan Chase & Co. JPM -0.54% might pay as much as $11 billion to settle federal and state investigations into its own sales of mortgage-backed securities.
http://www.marketwatch.com/story/citi-to-pay-395-million-to-freddie-mac-2013-09-25?dist=bigcharts
Citi settles with Freddie Mac for $395M over mortgages
04:30 PM ET · FMCC.OB
The settlement covers breaches of reps and warranties on 3.7M mortgages sold to Freddie Mac (FMCC.OB) between 2000 and 2012. Citigroup (C) will pay Freddie $395M, all of which is covered in the bank's existing mortgage repurchase reserves.
The agreement covers potential future origination-related claims on the Included Loans, but does not end Citi's liability as far as servicing or other obligations.
Press release.
GM Prices $4.5 Billion of Senior Unsecured Notes
DETROIT, Sept. 24, 2013 /PRNewswire/ -- General Motors Co. (NYSE: GM) announced today the pricing of three series of senior unsecured notes for a total of $4.5 billion. These notes include $1.5 billion of 3.5 percent notes due in 2018, $1.5 billion of 4.875 percent notes due in 2023 and $1.5 billion of 6.25 percent notes due in 2043. The offering is expected to settle on Sept. 27, 2013.
GM plans to use approximately $3.2 billion of the net proceeds from the offering of the notes to repurchase 120 million shares of Series A Preferred Stock from the UAW Retiree Medical Benefits Trust (UAW VEBA). The shares have a liquidation preference of $25 per share and accrue cumulative dividends at a rate equal to 9 percent annually.
GM also plans to use approximately $1.2 billion of the net proceeds to prepay in full its 7 percent notes held by the Canadian Auto Workers' Union Health Care Trust, due in periodic installments through 2018, including accrued interest.
"We're taking advantage of a favorable market to lower our cost of capital, increase our financial flexibility and further strengthen our fortress balance sheet," said Dan Ammann, GM executive vice president and CFO.
The transactions are expected to be accretive to 2014 earnings by approximately $0.11 per share.
In association with the purchase of Series A Preferred Stock, GM expects to record a charge of approximately $0.8 billion in the third quarter, which will be treated as a special item.
The notes have not been registered under the Securities Act of 1933 and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except to (a) qualified institutional buyers in reliance on the exemption from the registration requirements of the Securities Act provided by Rule 144A and (b) persons in offshore transactions in reliance on Regulation S.
The press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. The offer will be made only by means of a confidential offering memorandum.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
Forward-Looking Statements
In this press release and in related comments by our management, our use of the words "expect," "anticipate," "possible," "potential," "target," "believe," "commit," "intend," "continue," "may," "would," "could," "should," "project," "projected," "positioned," "outlook," or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our ability to maintain adequate financing sources, including as required to fund our planned significant investment in new technology; our ability to successfully integrate Ally Financial's international operations; the ability of our suppliers to timely deliver parts, components and systems; our ability to realize successful vehicle applications of new technology; overall strength and stability of our markets, particularly Europe; and our ability to continue to attract new customers, particularly for our new products. GM's most recent annual report on Form 10-K provides information about these and other factors, which we may revise or supplement in future reports to the SEC.
SOURCE General Motors
Copyright 2013 PR Newswire
Closing at $4 would be very nice
Why Facebook (FB) remain undervalued.
Despite the fact that shares of Facebook (FB) are trading near all-time highs, I believe the company is still undervalued and the mid to long-term prospects are under appreciated by investors. There are five reasons why I believe that shares will be trading higher and delivering impressive returns for years to come.
Five simple reasons
1) Facebook has more than 1 billion users, and is still growing this tally above 20% year over year. The massive amount of data that the company has already collected (and will continue to collect) from the billion plus users will be an extremely valuable asset that can be utilized in various ways to generate revenue.
2) Facebook has a vast array of growth opportunities that have yet to be rolled out or even discovered. Specifically, in the near term, the company will roll out video advertisements for U.S users, which can be rolled out internationally over the coming years.
3) Facebook currently has huge investment plans, which include maintaining data servers to keep up with a growing user base. The company has already spent $595 million in 2013 and expects its investments on infrastructure to total $1.6 billion by the end of 2013. In the short term this can lower margins, but an increased investment is a positive aspect as the company continues to expand internationally and gain new users.
4) Management has silenced the bears and nay-sayers who were convinced that the company couldn't meaningfully monetize on mobile users. The company has, so far, addressed what I believe to be the biggest bear argument and only valid thesis against owning shares. Mobile ad revenue represents 41% of the company's revenue mix and is still in its infant stages with significant growth opportunities over the years. In terms of actual numbers, in the second quarter of this year, the company sold $656 million of mobile ads, an increase from $375 million in the previous quarter.
5) Although engagement levels are always a concern, Facebook's measure of daily average users and monthly average users has remained consistently high and showing no signs of faltering. In July, the company reported its daily active users totaled 699 million for the month representing an increase of 27% year over year. In the same month, monthly active users totaled 1.15 billion users, an increase of 21% year over year.
The value of advertising
RBC Capital Markets conducted a survey of over 1,200 advertising professionals to evaluate their general sentiments toward using Facebook as part of a marketing strategy. The study concluded that advertisers plan to increase their spending budget over the next year and allocate more funds toward advertising on Facebook.
One of the biggest takeaways from the survey revolved around a question where the respondents were asked to provide a ranking of online advertising sites in terms of their ROI importance. Using a 1-6 scale (with 1 being the most important, and 6 being the least important) respondents ranked Google (GOOG) as number 1 with a score of 2.1, and Facebook with a score of 2.22. Somewhat surprisingly, Facebook came in a very close second to Google which has had a 10 year head start in demonstrating and refining its ROI-attractiveness.
One can conclude that Facebook is "closing the gap" with Google and in less than two years has placed itself almost on par with the online advertising platform, Google. This has been accomplished before the much anticipated video ads have even been rolled out. Facebook is showing the potential to have at least an equal impact (if not greater) in the online advertising space, which should cause concern for Google shareholders if Google starts to lose market share. The total value of online advertising for 2013 is estimated to reach $117.6 billion. As Facebook continues to gather momentum, the company appears poised to steal Google's online ad share which is expected to total $38.6 billion in 2013. This objective fits in perfectly with Facebook's "three pillars of strategy" which is "Build, Grow, and Monetize."
Five risks of concern
The path to dominating the online social space will be full of risks and headwinds over the years. Facebook has tremendous potential and tons of opportunities, but like every other company, risks do exist. As such, investors should avoid an overweight investment that is significantly large compared to other holdings. Over time, I would hope that Facebook will ease these concerns either through positive remarks from management or data released by the company.
1) Users defect and spend more time on other social media platforms such as Twitter and Pinterest. While many wouldn't consider either of these platforms a direct competitor to Facebook, nevertheless a decrease of time that users spend on Facebook makes the platform less attractive in the eyes of advertisers.
2) As a follow up to my first point, Facebook faces the risks of needing to spend more money on aggressively retaining users. Also interesting to note will be a potential expensive acquisition a la Instragram (which as of now, has yet to be monetized.)
3) Privacy concerns and government intervention seem to be a very "hot topic" these days and is likely to gather steam. According to Mark Zuckerberg, users are trusting Facebook less after NSA revelations were exposed.
Final remarks
The future remains bright for Facebook and another major catalyst for the stock can be the company's inclusion within the S&P 500 index. The company fits the guidelines for inclusion as Facebook is a well established leader within the advertising space. Some of the criteria for inclusion in the index include a $4 billion market cap (check), a 50% public float (check), and four consecutive quarters of positive net income (likely to be checked in the upcoming third quarter). Interestingly, November would mark the 18-month anniversary of the company's IPO, which is approximately the same time period it took Google to be added to the index.
Finally, Wall Street analysts are also optimistic on share prices. CLSA has a street high price target of $60 with JPMorgan having a $53 target and Goldman Sachs having a $52 target. These price targets from some of the top tier firms further goes to show that investors of Facebook are likely to see strong returns over the years.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
This was yesterday's news and FB still went green. Earnings is coming and why would you sell when we are still going green into a great earning that will be coming out next month.