Facebook will put in its papers to IPO next week, according to the Wall
Street Journal Friday, maybe by Wednesday February 1. Apparently the timing
is still a bit up in the air but it’s in the works.
The offering, looking top raise $10 billion, is supposed to value the company
at somewhere between $75 billion and $100 billion.
Britain’s Telegraph said PrivCo claimed Thursday night that Facebook was
targeting an IPO price of $38-$40 for its shares, with a target value for the
company of $90 billion-$95 billion because Facebook was “reluctant to aim
for the full $100 billion valuation in the hope of leaving some value for
investors following the listing.”
Morgan Stanley is tipped to take the company out with Goldman Sachs, which
orchestrated a sloppy $1.5 billion private placement of Facebook shares a
year ago, getting a piece of the action. That placement valued Face... (more)
A rare, if not unheard of, confluence of stars Thursday meant that IBM,
Intel, Microsoft and Google all reported their calendar Q4 numbers after the
market closed.
Of the lot only Google came a cropper, losing $57 after-hours, down 8.9% when
last we looked to $582.58, on a scary drop in its search advertising.
Paid clicks were down 8% while costs were up 35%. Earnings were up 6.3% but
that still counted as a miss by Wall Street's lights. Google was supposed to
return $10.49 a share on revenues of $8.41 billion. Instead it did $8.22 on
record-breaking $10.58 billion, up 25%, which... (more)
Facebook is thinking of going public in the spring and raising $10 billion -
a record amount for a high-tech or Internet IPO or pretty much any other IPO
- on an estimated valuation of more than $100 billion, according to both
Bloomberg and the Wall Street Journal's anonymous sources.
Apple, now the most valuable high-tech company, currently has a market cap of
around $349.57 billion.
Facebook could put in its papers to IPO before of the end of the year. The
Journal says it is talking to the SEC about the timing of the filing and
suggests the IPO could come off sometime between A... (more)
Lenovo, which passed Dell to become the second-largest PC vendor in the world
by shipments and has designs on HP's first place, saw its earnings soar 88%
in the September quarter on the back of acquisitions and sales to emerging
markets like its native China.
It realized a better-than-expected $143.9 million on revenues up 35% to $7.79
billion from $5.76 billion.
It means to expand via acquisitions if it can find them and said
"Uncertainties over global economic recovery, the renewed debt crisis in
Europe, and tablet PC cannibalization of entry-level consumer PCs remain."
It's ... (more)
Boomberg's Cliff Edwards reported the facts well:
Netflix Inc. (NFLX) dropped the most in seven years after the video-rental
service said it lost 800,000 U.S. subscribers in the third quarter, more than
expected, and predicted more cancellations over a price increase.
Netflix plunged 37 percent to $75.28 at 9:39 a.m. New York time, for the
biggest intraday decline since October 2004. The stock closed at an all-time
high of $298.73 on July 13, according to Bloomberg data.
The outlook suggests Netflix has been unable to contain a subscriber revolt
over a price increase and aborted p... (more)
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