At the time of writing, investors in Facebook Inc (NASDAQ:FB)’s IPO, priced at $38, have received a percentage haircut of about the same amount on their investment. Though shares have been falling right from day one, yesterday’s announcement of Facebook’s first quarterly result as a public company, a not-so-memorable one at that, precipitated an another 11 percent fall today. In many ways the days leading up to Facebook’s IPO were reminiscent of the ill-fated...
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UBS AG (USA) (NYSE:UBS) downgraded Exxon Mobil Corporation (NYSE:XOM) shares to “Neutral” from “Buy” today. The main reasons given by UBS for downgrade relate to “disappointing” production trends, using asset sales to boost earnings. Other reasons for the downgrade include low earning quality due to asset sales, and risk of slowing the pace of share repurchases from 2012′s $20billion. The downgrade came just one day after the oil giant reported its second-quarter earnings. The net income for the company...
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