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Trading at Noon: Facebook plans to raise $10.6 billion

Friday, May 04, 2012 - 03:17

May 4 - Facebook plans to raise $10.6 billion in mega IPO that would value the company at $77 billion to $96 billion. Also, April hiring slows down.

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Okay. -- expect me fan boys and underwriters JPMorgan and Morgan Stanley who hoisted flags and printed posters. -- their headquarters to promote the social media giants this ten point six billion dollar IPO. The creator of cherry Garcia Ben and Jerry's is shilling for the offering. And that he rolled out there is -- night on how founder Mark Zuckerberg and company who -- the world and lure investors into the largest average US Internet IPO. Element eastern video with Zuckerberg and what looks like to be a hundred dollars grade teacher. -- to FaceBook founder appeared to be leading amateur mission focused. And well meaning company with a finely honed message aimed at the individual investor and not necessarily could be -- institution. That's in line with the culture of FaceBook -- individual users who number almost a billion now. To spread the wealth even more FaceBook added online stock retailers -- E*Trade to its underwriting team. Zuckerberg may also behind the overseas market writing the US subsidiary of Brazilian big giant -- how when a bomb go to the team. Well it's not all about -- but today. A weak jobs report hit markets and the Obama administration. US economy at a measly 1151000. Jobs in April way off the forecast of the 170000. Most of the slowdown in jobs in the past two months has been in private service and leisure transportation also weakening while we -- jobs picked up sharply. I have arts as a usual weather had eight temporary dampening effect on hiring affecting sectors like construction. Unemployment rate ticked down to eight point 1% to a three year low but driven by people leaving the job force. Stock indexes showing red arrows as Wall Street -- the jobs report disagreeable. Dragging down the S&P at this hour is the energy sector down close to 2%. Crude futures are plunging hovering close to ninety dollars a barrel for the first time since February. Gold is up as investors seek shelter and precious metals and treasury prices are rising also reacting to the weak jobs report. Now for stocks to watch let's go to Reuters correspondent Ryan last helicopter on the market for us. Here's a Green mount -- -- in over 6% today but don't be fooled the stock remains down over 40% this week. Yesterday it dropped almost 50% its biggest one day decline ever after it cut its outlook here and -- missed expectations. And shares of Yahoo! are down just over percent after investor Dan -- said Yahoo! CEO Scott Thompson and Ellis is academic credentials. I think he at a computer science degree when in fact he didn't. And wrapping up the week in earnings we have Estee Lauder shares are down over 3% after he gave a profit forecast that disappointed Wall Street. Blinked and it raised its full year outlook as businesses used it to hire employees and dole foods reported it eight lower quarterly profit. I think consider spinning off one of its businesses. Looking ahead at Disney Cisco and News Corp. report next week. That's all for treating it and I'm Heidi mom this is raiders.

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Trading at Noon: Facebook plans to raise $10.6 billion

Friday, May 04, 2012 - 03:17