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Facebook Stock Hits New Lows … And Still Worth Less?

Jul 31, 2012, 1:04 pm EDT
Facebook Stock Hits New Lows … And Still Worth Less?

Bernstein Research analyst Carlos Kirjner seemed to provide some good news for Facebook (NASDAQ:FB) shareholders Tuesday when he upgraded his rating on the stock from “underperform” to “market perform.”

Didn’t matter. Facebook stock has dropped another 6% to a new low around $21.75, continuing FB’s death spiral since coming public in May at $38.

In fairness, Kirjner’s coverage was a mixed bag. While he upped his rating, he actually lowered his price target on FB shares from $25 to $23. And he said while there’s other potential upsides to consider, he values Facebook’s display ad business at just $19 per share. Read 

2 Noteworthy IPOs for This Week

Jul 30, 2012, 2:44 pm EDT
2 Noteworthy IPOs for This Week

While the IPO market has recovered from the Facebook (NASDAQ:FB) deal, the environment is still lackluster. This week, only four companies are on the calendar.

So which ones should perform well? One to keep an eye on is LegalZoom. The company is a top online provider of legal services, such as wills, incorporations and trademarks. Over the past decade, it has served roughly 2 million customers. In fact, LegalZoom handled about 20% of the California limited liability incorporations in 2011.

For the six months ended June 30, the company posted revenues of $96.5 million, up from $79 million in the same period a year ago. But it still had a loss of $760,000. Read 

GM Continues to Make IPO News

Jul 30, 2012, 2:36 pm EDT
GM Continues to Make IPO News

During the week Facebook (NASDAQ:FB) came public, the social network company got a shock from General Motors (NYSE:GM) marketing chief Joel Ewanick. He nixed the carmaker’s  advertising on the site, which certainly spooked IPO investors. But now the folks at Facebook are probably smiling — because Ewanick has been ousted.

Yet he still has managed to provide even more news for IPO investors. According to a report from CNBC, GM took the action because of Ewanick’s negotiation of a sponsorship deal with Manchester United, which is the most popular soccer club in the world — and is planning to come public in the U.S. soon!

The sponsorship should be a boost to the public offering. Consider that Manchester United is trying to show that its brand is truly global. Read 

Restoration Hardware Is Going Public — Again!

Jul 27, 2012, 8:00 am EDT

Luxury home furnishings brand Restoration Hardware is going public in late summer or early fall, exactly a year after initially filing with the SEC. This isn’t the first time it’s gone public. In June 1998, it sold 3.3 million shares at $19 for net proceeds to the company of $47.8 million. Last time it traded on the NASDAQ; this time it’s going on the NYSE.

Depending on how this is priced, it should be a very interesting IPO.

Restoration Hardware has had a colorful history to say the least. It was founded in 1980 by Stephen Gordon in Eureka, Calif. Gordon got the idea while renovating his Queen Anne Victorian house and finding it hard to locate authentic period hardware like door knobs and all those things that make a house a home. The first store was his renovated house. Read 

Facebook Suffers Another Debacle

Jul 26, 2012, 5:56 pm EDT
Facebook Suffers Another Debacle

Facebook’s (NASDAQ:FB) first earnings report as a company may not be as disastrous as Zynga’s (NASDAQ:ZNGA). But it’s still a disaster. In after-hours trading, the stock is off by 10% to $24. And that’s after the shares had already been down by 8.5% during regular trading.

At first glance, the quarter looked OK. Revenues rose by 32% to $1.18 billion, and earnings came to 12 cents (excluding stock charges). This was somewhat better than the Wall Street consensus, which called for revenue of $1.15 billion and earnings of 12 cents a share.

In terms of users, Facebook continues to show traction. The second-quarter saw the monthly average user count grow by 29% over the past year to 955 million. Daily active users were up by 32% to 552 million. Read 

It’s PainVille for Zynga

Jul 26, 2012, 11:22 am EDT
It’s PainVille for Zynga

I recently wrote a piece in the IPOPlaybook saying that the social IPO bubble was officially over. After all, there has been a near across-the-broad crushing of stocks like Groupon (NASDAQ:GRPN), Pandora (NYSE:P) and Facebook (NASDAQ:FB).

A week later, social gamemaker Zynga (NASDAQ:ZNGA) has decided to really cement that point.

Zynga put out a nauseating second-quarter report after the bell Wednesday that has sent shares into a tailspin, down 40% as of this writing. Read 

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