Facebook shares nearing $38 IPO price following stellar earnings report. Ref. USAToday
Shares have soared more than 40% since the social media giant posted better-than-expected second-quarter earnings July 25. Investors are encouraged by signs the company is learning how to profit from mobile device ads after hitting a post-IPO low of $17.55 last September. Ref. USAToday
Shares of Facebook opened the markets above $38, reclaiming its original value when the company launched its initial public offering 14 months ago. Ref. USAToday
The No. 1 social networking company is replacing Teradyne in the much-followed S&P 500 and replaces The Williams Cos. In the S&P 100 index of the very largest U.S. Companies. The changes go into effect after the close of trading Dec. 20. Ref. USAToday
Facebook won't pay taxes again, will get refund instead:
It's shaping up to be another multi-billion dollar year for Facebook, but don't expect the social networking site to pay it forward: according to a new analysis, the website will pay no taxes this year and will instead likely receive a federal refund. Ref. Source 9