Facebook shares rise in buildup to mystery event, earnings |
Reuters Canada - Jan 14, 2013 |
Facebook Inc's stock opened on Monday above $32 for the first time since July as anticipation about upcoming products and financial results underscored Wall Street's renewed confidence in the online social network.
Facebook will on Tuesday host its first major press event at its headquarters in Menlo Park, California, since its troubled initial public offering in May, triggering a guessing game among technology observers and online blogs about what it could unveil - everything from a smartphone to a search engine.
"There's a lot of speculation. Nothing to me seems to be that certain," Jefferies & Co analyst Brian Pitz said.
"If I were to bet, I'd think it was something that was ad-platform related. I'm not convinced on the phone," said Pitz, citing previous comments by Facebook's leaders including CEO Mark Zuckerberg that making a smartphone would be the "wrong strategy" for Facebook.
Read Full Article from Reuters Canada
- Posted: 2013-01-14 18:24:03
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