U.S. Week Ahead: Don't be dazzled by Facebook's road show
Friday, May 04, 2012 - 03:12
May 4 - As Facebook and its underwriters get ready to launch a road show to convince investors why they should friend them, Reuters Social Media Editor Athony De Rosa says buyer beware!
▲ Hide Transcript
▶ View Transcript
You've seen the video now William by the stock. Face but begins a two week road show to convince investors why they should befriend them. The social media giant and its underwriters started in New York. With stops in Boston Denver Chicago and San Francisco it would be the biggest US Internet IPO. Plans to raised nearly fourteen billion dollars. It values the company at up to 96 billion dollars. No doubt FaceBook is a hot ticket item but Reuters social media editor Anthony de Rosas says buyer beware. I think the major concern is that growth has started to slow. And the reason why that is less interest and joining FaceBook from users can also recent very large number of billion users. How much further can go to that I don't know if there's a lot more room for growth. And if there's not more room for growth there's less advertising that themselves as users get ready for the Woodstock of capitalism when Warren Buffett host Berkshire Hathaway's annual meeting on Saturday in all mob. Nearly 40000 shareholders are expected to attend a conference. Reuters Rhonda schaffler is as a highlight will be that you NA headed by Buffett and his partner Charlie Munger. Convention center behind me is going to be packed with investors and they all want that one question answered. Who is going to eventually replace Warren Buffett when he steps aside that cancer diagnosis brings some new urgency to that question. This -- already been selected but the name names secret so expect investors to press him on that Saturday. Also expect Berkshire to report first quarter results that today. Expect a very different atmosphere when Bank of America holds its annual meeting on Wednesday Charlotte, North Carolina. Hundreds of demonstrators are expected turn -- to voice their anger over issues like foreclosures. Activist groups have already said they'll be watching to see -- the banking exclude shareholders. Wanna make their case inside the meeting. C O'Brien one of -- likely face tough questions by the bank's ability to make money. Watch for more fallout from the phone hacking scandal when News Corp. reports after the close on Wednesday. Recently UK government can you describe CEO Rupert Murdoch as unfit to run the business. Investors will be hoping he'll make an appearance on a call if only as a sign that he remains in control and the commoners. Media -- in retail will dominate the rest of earnings of note electronic arts Walt Disney. -- well Macy's Activision Blizzard Cisco and Kohl's and Nordstrom. We could get more inside and help the financials when fed chair Ben Bernanke talks Thursday he'll give his take on the bank sector and landing at a Chicago fed conference. Bernanke recently said the Central Bank would launch another round of bond purchases if the economy needed it. Also speaking during the week voting members Richmond president Jeffrey lacquer and Cleveland president Sandra panel. As hiring in the US slows down the spotlight falls on -- sentiment and inflation data. On the radar. Consumer credit international trade figures initial jobless claims producer prices and a preliminary read of the Reuters University of Michigan sentiment index. I'm Fred Katayama and this is --
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code