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U.S. Morning Call: Facebook stock plummets in premarket

Thursday, July 26, 2012 - 02:22

July 27 - Facebook reported a drastic slowdown in revenue growth in its first earnings report as a public company.

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Face -- and brewing trouble here's your morning called this Friday. Mark Zuckerberg a little or this morning his Facebook's take down nearly 10% as the stock falls to a new low in premarket below 25 bucks. It priced at 38 in May. The social network reported a drastic slowdown in revenue growth and offering no financial forecast to ease concerns over its prospects for boosting advertising revenue. Sure revenues up about 33% but that's not really high he considers -- Facebook's young companies should be growing even faster. What's worse is that profits are only about 8% as shockingly bad. Another NASDAQ bigwigs faring better Amazon reporting its profit margin grew on the strength of new businesses. The company's revenue climbing nearly 30%. However did issue -- weaker revenue forecast for the current quarter than anticipated. Shares or roughly flat in the premarket. While Starbucks is perking up this morning cut its outlook citing global global economic weakness and a recent slowdown in the US. Once stellar performer Samsung. -- Korean electronics giant widened its mark on -- over apple shipping more than fifteen million of its galaxy devices and other models in its most recent quarter. Market research firm saying no is ever -- that many units in a three month period. The stock up about 5% as the shipments helps -- -- posted record high profit. Apple shares meanwhile are roughly flat after its forecast earlier this week. The week reports from FaceBook and Starbucks not tracking down NASDAQ-100 futures. They're up along with the Dow and SP 500 index futures all pointing to higher open. Stocks in Europe for up as well though this can change about an hour. That's when the Commerce Department releases its first estimate of second quarter GDP. Some hoping a weak number will encourage the Fed to provide more stimulus. Economist in the Reuters poll looking for a gain of one point 5%. Down from one point 9% in the first quarter this to represent the slowest pace of growth in a year. We consumer spending expected to hurt the result that's -- morning called this Friday you can follow us on Twitter at Reuters Insider and check out our -- YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernhard and this is Reuters.

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U.S. Morning Call: Facebook stock plummets in premarket

Thursday, July 26, 2012 - 02:22