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New York, NY -- (SBWIRE) -- 11/16/2012 -- Facebook, Inc. (NASDAQ:FB) is engaged in building products to create a utility for users, developers, and advertisers. People use Facebook to stay connected with their friends and family, to discover what is going on in the world around them, and to share and express what matters to them to the people they care about. Developers can use the Facebook Platform to build applications and Websites that integrate with Facebook to reach its global network of users and to build personalized and social products.
Facebook Inc. (FB) is expanding the number of retailers for its gift-giving feature that lets users buy and send items without leaving the website, part of the company’s efforts to add new revenue.
Facebook Inc (NASDAQ:FB)’s third quarter growth forecast receives a warmed welcome from Tiger Global Management LLC, adding to its portfolios over 15M shares in the operator of the social networking giant.
According to data compiled by Bloomberg, Tiger Global, added 9.79M shares to increase its stake to 11.75M shares. Jennison Associates LLC raises its holding by a third, increasing 3.01M shares. While Clearbridge Advisors LLC increased 400% holding by adding 2.54M shares.
Facebook (FB) has lost over 40% of its value at the time of going public in May it has been working to alleviate investor worries over its valuation. The firm declared in the Q3 that it can increase advertising revenue from mobile users while more and more people turn to wireless devices to access the social network.
Facebook shares surged 13% to $22.36 on Wednesday, after declaring its Q2 gain since going public.
According to a regulatory filing, the increase came as limitations lifted from (FB) 804M shares yesterday, detained by former employees and those who sold in the IPO, approximately doubling the total publicly available.
Facebook’s sales surged 32% to $1.26B, assisted by new mobile-advertising tools that delivered around $150M in revenue, during the third quarter.Several institutional investors stand out of the stock or gave up wholly on Facebook during the quarter.
Facebook Inc (NASDAQ:FB) traded at $22.00 by declining 1.61% or 36 cent at 10:58AM EST with traded volume of 32.12M.The stock price saw week’s volatility was 6.18% and month’s volatility remained 3.95%. While the stock price of FB is moving up from its 20 days moving average with 8.60% and isolated positively from 50 days moving average with 8.36%.
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