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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Mentor Capital, Inc. (MNTR: OTC Link) | Mentor Capital Extends Expiration on Series B Warrants for Further Cancer Investment

Category : Stocks, World News

Mentor Capital, Inc. (OTC Markets: MNTR) has received
approval to extend the expiration of the company’s outstanding Series B
Warrants out to April 30, 2013.

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Facebook shares sink even lower as analysts fear more sell-offs

Category : Business

Company share price now worth less than half the $38 IPO price set in May as insiders may be preparing to sell more stock

Facebook’s shares hit new lows Friday as analysts worried the social network’s insiders may be preparing to sell yet more stock.

The company’s share price reached a low of $18.03 on Friday before ending at $18.08, down 5.28% for the day. Facebook’s shares are now worth less than half the $38 price they were sold for in May.

The latest fall came as two analysts from firms associated with May’s troubled initial public offering (IPO) cut their price targets on the shares.

Bank of Montreal (BMO) analyst Daniel Salmon cut his target for Facebook’s shares from $25 to $15 – the lowest rating of his peers – and warned the company may struggle to meet a 4% revenue-growth target in the third quarter.

Bank of America analyst Justin Post cut his target on the shares to $23, arguing the company had good long-term prospects while citing concerns about the looming expiration of “lockup” agreements that prevented some early investors and company insiders from selling shares.

Facebook’s shares fell 6.3% after the expiration of its first lockup agreement in mid-August freed up some 271m shares for sale. Legendary Silicon Valley investor Peter Thiel, the first big outside investor in Facebook and a company director, used that opportunity to sell more than 20m shares, most at $20 a share. Co-founder Dustin Moskovitz has shed 1.35m shares at prices ranging from $18.79 to $20.08, adding $26.2m to his fortune.

Post was more positive about the company’s long-term prospects from new advertising formats but wrote “recent selling activity on the August lockup suggests to us the risk of future selling pressure”.

Facebook’s next lockup expiration comes on 15 October, when another 249m shares will be freed up. The largest expiration comes on 14 November, when co-founder and largest shareholder Mark Zuckerberg and others will be free to sell 1.32bn shares. More shares will also be released in December and in May next year.

On the day of its IPO Facebook was briefly valued at $104bn, more than the market value of Goldman Sachs and Nike added together. On Friday Facebook was valued at $38.69bn, less than Nike’s $44.19bn.

Yelp stock jumps 20% despite lockup expiration

Category : Stocks

Yelp bucked the trend of shares slumping after a lockup expiration.

Read more: Yelp stock jumps 20% despite lockup expiration

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Facebook shares drop to less than half their initial stock price

Category : Business

Mark Zuckerberg loses half his personal fortune in market slide as shares go for $18.75, down from $38 IPO in May

Facebook’s shares hit new lows on Monday, sinking to less than half their initial public offering price and halving the fortune of founder Mark Zuckerberg.

By mid-morning, Facebook’s shares hit a new low of $18.75, less than half the $38 they were sold for in May amid the most heavily hyped stock sale in recent history. The slump has knocked close to $10bn off the value of Zuckerberg’s stake in the firm, which is now worth about $9.5bn.

Facebook’s latest share slide comes after the expiration of a lock-up period that allows some of its earliest investors to sell more of their shares. The expiration increased the pool of available shares by 60% and confirmed analysts’ fears that it might lead to more falls in Facebook’s already battered share price.

Some of Silicon Valley’s most prominent investors are among those now able to reduce their holdings. Details of which large shareholders have decided to cash in are not yet available.

Facebook’s share price faces a series of other potential challenges in the next few months as more lock-up periods expire and staff are allowed to sell shares.

Facebook’s fall comes as its peers, too, have faced investor scepticism. Shares in Groupon, the daily deals site, are also close to new lows and early investors including Marc Andreessen, one of Silicon Valley’s most respected investors, have been cutting their holdings.

Shares in Zynga, the online games firm, have fallen over 68% since last year’s initial public offering. The firm, whose hits include Words With Friends and Draw Something, was responsible for 12% of Facebook’s revenue last year.

On the day of its IPO in May Facebook was briefly valued at more than $100bn, more than the combined worth of Nike and Goldman Sachs. The social network is now valued at $40.61bn.

The company is on course to claim a billion people as users this year. But while its size and reach are undisputed analysts fear that the firm has been unable to find a way to make money from its mobile users, the fastest growing sector of its business.

Apple becomes most valuable firm of all time – but Facebook shares hit new low

Category : Business

Tech firm valued at more than $619bn after shares hit high of $664.75 in morning trading, topping Microsoft’s 1999 record

Apple has become the most valuable company of all time – surpassing a record set by Mircrosoft in 1999.

Shares in the tech giant hit a high of $664.75 in Monday morning trading, valuing the company at over $619bn. The price topped the $618.9bn Microsoft achieved in December 1999.

In January, Apple surpassed oil firm Exxon Mobil for the first time to become the most valuable company on the planet. It now dwarfs Exxon’s $405.6bn market value by more than $213bn.

The company’s shares dropped dramatically last month as sales figures disappointed analysts, even as profits rose 21% year-on-year to $8.8bn (£5.6bn). But shares have risen again on rumours that Apple is planning to launch a smaller version of its top-selling iPad and is close to making a new push in the TV market, which has long been a target for chief executive Tim Cook.

The company’s share price was $378.55 on October 5 2011, the day that Steve Jobs, co-founder and the driving force behind the firm’s most famous products, died. Since his death, Apple has gone on to report record sales, and its share price has soared.

Apple’s landmark high comes as Facebook’s shares hit new lows on Monday, sinking to less than half their initial public offering price and halving the fortune of founder Mark Zuckerberg.

By mid-morning, Facebook’s shares hit a new low of $18.75, less than half the $38 they were sold for in May amid the most heavily hyped stock sale in recent history. The slump has knocked close to $10bn off the value of Zuckerberg’s stake in the firm, which is now worth about $9.5bn.

Facebook’s latest share slide comes after the expiration of a lock-up period that allows some of its earliest investors to sell more of their shares. The expiration increased the pool of available shares by 60% and confirmed analysts’ fears that it might lead to more falls in Facebook’s already battered share price.

Some of Silicon Valley’s most prominent investors are among those now able to reduce their holdings. Details of which large shareholders have decided to cash in are not yet available.

Facebook’s share price faces a series of other potential challenges in the next few months as more lock-up periods expire and staff are allowed to sell shares.

Facebook’s fall comes as its peers, too, have faced investor scepticism. Shares in Groupon, the daily deals site, are also close to new lows and early investors including Marc Andreessen, one of Silicon Valley’s most respected investors, have been cutting their holdings.

Shares in Zynga, the online games firm, have fallen over 68% since last year’s initial public offering. The firm, whose hits include Words With Friends and Draw Something, was responsible for 12% of Facebook’s revenue last year.

On the day of its IPO in May Facebook was briefly valued at more than $100bn, more than the combined worth of Nike and Goldman Sachs. The social network is now valued at $40.61bn.

The company is on course to claim a billion people as users this year. But while its size and reach are undisputed analysts fear that the firm has been unable to find a way to make money from its mobile users, the fastest growing sector of its business.

The bears are still piling in to Facebook (FB), the number of shares on loan to short sellers standing at 97M, up from 63M a month ago. One reason could be lockup expiration – an additional 2B shares will become eligible to sell between now and next…

Category : Stocks, World News

The bears are still piling in to Facebook (FB), the number of shares on loan to short sellers standing at 97M, up from 63M a month ago. One reason could be lockup expiration – an additional 2B shares will become eligible to sell between now and next May, adding to the current float of 421M. 22 comments!

See the rest here: The bears are still piling in to Facebook (FB), the number of shares on loan to short sellers standing at 97M, up from 63M a month ago. One reason could be lockup expiration – an additional 2B shares will become eligible to sell between now and next…

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Obama to Push Extension of Middle-Class Tax Cuts – Wall Street Journal

Category : Stocks


BBC News
Obama to Push Extension of Middle-Class Tax Cuts
Wall Street Journal
By LAURA MECKLER President Obama re-ignited the middle-class tax cut debate, proposing a one-year extension of the Bush-era tax cuts. WSJ's Laura Meckler has details on Mean Street. Photo: Reuters. President Barack Obama on Monday proposed a one-year
Obama pushes tax cut extension for families under $250000, says expiration Washington Post
Obama urges tax cuts for families under $250000Businessweek
Romney and Obama on TaxesABC News
msnbc.com

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Investors Prepare for Choppy Trading Action

Category : Stocks

The major averages Tuesday come off their biggest Monday losses of 2012 amid more talk on easing and options expiration activity this week.

Here is the original post: Investors Prepare for Choppy Trading Action

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The U.S. economy could shrink as much as four percentage points in H1 2013 if Congress fails to address the expiration of $600B worth of tax breaks and jobless benefits by the end of this year, Goldman Sachs says. The chances of a worst-case…

Category : World News

The U.S. economy could shrink as much as four percentage points in H1 2013 if Congress fails to address the expiration of $600B worth of tax breaks and jobless benefits by the end of this year, Goldman Sachs says. The chances of a worst-case “fiscal cliff” scenario are 35%, the firm says; more likely is Congress temporarily raising the debt limit and postponing tough decisions until 2013. 2 comments!

Originally posted here: The U.S. economy could shrink as much as four percentage points in H1 2013 if Congress fails to address the expiration of $600B worth of tax breaks and jobless benefits by the end of this year, Goldman Sachs says. The chances of a worst-case…

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REMINDER/Notice of Increase in Rent 2012: There Remain Only 2 Days for the Majority of the Rental Leases in Quebec

Category : Stocks

MONTREAL, QUÉBEC–(Marketwire – March 31, 2012) - The Association of Quebec Landlords (APQ) wishes to remind the owners of rental residences to verify the duration and the expiration date of their current leases because the great majority of the leases last one year, finishing on June 30. Thus there remain only 2 days for you to send the notice of renewal of the lease to your tenants, should that be your case.

See more here: REMINDER/Notice of Increase in Rent 2012: There Remain Only 2 Days for the Majority of the Rental Leases in Quebec

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