Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

U.S. Morning Call: Goldman, JPM aid bets against Facebook

Thursday, May 24, 2012 - 02:12

May 25 - The WSJ reports that while Morgan Stanley was keeping Facebook shares above $38, two other underwriters lent shares to hedge funds so they could short them.

▲ Hide Transcript

View Transcript

FaceBook trading woes and heavy -- is buying it to Chesapeake Energy here's your morning call this Friday while markets. Stanley was buying FaceBook shares at a rapid pace to keep the stock above its 38 dollar offer price. It was competing with other underwriters or helping push the price lower. The Wall Street Journal says Goldman Sachs and JPMorgan Chase. Let's shares to hedge funds so they could shorten that or that this stock would go down. The paper says hedge funds called Morgan Stanley looking for shares to short as well but it would not offer them the banks declined to comment. Meanwhile claims platform Wall Street's main market makers against the NASDAQ for the box FaceBook IPO. Could top 100 million dollars that's according to a senior executive at one of firms which include Knight capital to -- securities UBS and Citigroup. Companies continue to deal with thousands of problems with customer orders. If I just familiar with the situation that many investors are now finding out nearly a week after the fact. If -- orders were not executed at prices they thought FaceBook shares roughly flat in the premarket -- closed higher for a second straight day Thursday. That are still well below the offer price. -- outside investors beefing up their stakes in Chesapeake Energy or getting involved. Black rock has quadrupled its stake to four million shares from -- at one million. According to the stores but I have is jumped in and make -- more than 4%. According to the number. Chesapeake has been under scrutiny following a series of reports by Reuters about the financial practices of -- CEO Aubrey McClendon and the company. It's stocks have been hit hard in recent months. Stocks to watch today -- bare bones system is the maker credit cards like machines forecast third quarter revenue below analysts' estimates. And mylan labs the generic drugmaker is settling a patent infringement suit with the Japanese drugmaker over bronchitis medicine. Mylan saying the company acknowledged its drug infringed on two of violence -- That's -- morning called this Friday I've got up there and this is writers and --

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

U.S. Morning Call: Goldman, JPM aid bets against Facebook

Thursday, May 24, 2012 - 02:12