Morgan Stanley defended its role in Facebook Inc.’s initial public offering after a Massachusetts regulator subpoenaed the bank over talks between an analyst and investors about the social media company’s revenue outlook.
Facebook Inc. shares, which fell to a record low after insiders could sell stakes for the first time since the initial public offering, will face more pressure when another 1.44 billion shares are freed up through November.
Facebook Inc. investors who pushed the company’s shares to a record after it unveiled the $19 billion deal for WhatsApp Inc. would be well served to remember -- every Internet takeover of more than $10 billion has flopped.
Mark Zuckerberg will celebrate turning 28 today on the final leg of a roadshow aimed at building demand for Facebook Inc.’s initial public offering and convincing investors that he can make money from mobile users.
MGM Holdings Inc., the Hollywood studio that exited bankruptcy in 2010, is seeking to complete an initial stock sale before the October release of its next James Bond film, a person with knowledge of the situation said.