While teenagers may not be enthusiastic about Facebook, the company has a fan in Ashton Kutcher. The actor and angel investor, who is set to play Apple Co-Founder Steve Jobs, recently spoke at the CTIA Conference in Las Vegas, saying that Twitter is too crowded and that Facebook has actually effectively placed its advertisements.
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Facebook was on the receiving end of some Wall Street praise Friday, as three analysts said positive things about the social network on CNBC’s “Fast Money.”
Although Facebook’s stock value has recovered from its initial downfall to about $25 per share, one analyst sees another dip coming, largely because of the prevalence of advertising on the site. Richard Greenfield, a media and entertainment analyst for BTIG Partners, told CNBC that he is not confident about Facebook’s future on Wall Street, noting that advertising on the social network looks more like spam.
Netflix CEO Reed Hastings appeared on CNBC Thursday morning, where he spoke with Julia Boorstin about the Securities and Exchange Commission’s investigation of his Facebook post about Netflix topping 1 billion hours of viewership in June.
Facebook is likely the next company in line to be added to the Nasdaq 100 Index, as CNBC pointed out that the social network is currently the company with the largest market valuation listed on Nasdaq that is not part of the index, and adding that a spot will open Dec. 12, when information-technology-services company Infosys leaves Nasdaq for the New York Stock Exchange.
In an exclusive interview with CNBC, Facebook Chief Operating Officer Sheryl Sandberg touched on several topics, including the social network’s initial public offering and share price slump; the company’s mobile issues; skepticism over advertising on social networks; new business opportunities for Facebook; privacy; and the economy.
Facebook’s oft-criticized initial public offering has at least one high-profile backer: InterActiveCorp Chairman Barry Diller, who spoke out in favor of the social network’s $38-per-share launch price on CNBC’s “Squawk Box” Tuesday morning.
It was rumored that Facebook Director Peter Thiel was going to sell some of his stock in the social network when it was possible. The rumor is now fact. CNBC reported Monday that Thiel offloaded nearly all of his shares — about 22 million of them (2 million of which were distributed to his limited partners). Microsoft also sold 20 percent of its Facebook stock, which dipped below $19 per share Monday before rallying to $20.01 at closing time. The fallen stock price has an effect on the social network’s pending Instagram acquisition, as well.
The stock of popular Facebook application developer Zynga has dropped despite growing revenue, which the company reported Wednesday in its second-quarter financial results. Zynga noted that it is scaling back its outlook for the rest of 2012, citing a challenging environment on Facebook’s platform.
It has been a rocky road for Facebook after its initial public offering. The reports of several Facebook underwriters were released today, as analysts feel that the company will be fine long-term, but there are still some lingering doubts about turning mobile usage into money.
