MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

New York Markets Open in:

Futures: /quotes/zigman/30356461/delayed S&P 500 +0.7% /quotes/zigman/38649152/delayed DOW +0.8% /quotes/zigman/30356458/delayed NASDAQ +0.8%

need to know
Europe stocks waver | FTSE 100 regains ground
Chinese stocks rebound from earlier selloff

Intel overhauls chip business to revive PC sales
Tesco closes in on $7 bln S. Korea deal
Brent back below $50 as oil prices keep sliding
China tightens controls to fight capital outflows
Morgan Stanley cuts S&P 500 price target
AT&T urges rejection of TRC Capital offer
Amgen finds data falsified in diabetes study


China stock market to close for World War II anniversary

There’s still too many gold market bulls, says Hulbert

McDonald’s set to offer all-day breakfast

No. 1 restaurant for ‘breakfastarians’ is ...
Teacher with 111 tardies blames breakfast

Never use a market order when stocks are selling off

Uber drivers lawsuit  endangers much more than Uber
Uber driver suit can proceed as class-action

How China turned minor yuan issue into global rout
Beijing bumbling is China’s biggest problem

Where every Fed member stands on raising rates

Rate-hike question is what Yellen didn’t want
Boston Fed president: Sept. doubt remains

How LVMH poached Apple digital exec Ian Rogers

What to expect at September Apple event
What to expect from the Apple event on Sept. 9
New on the shelves of your Apple Store: drones
Apple talks to Hollywood for exclusive content
Lost Apple deal leads to 40% job cut at GT

Babe Ruth’s New York apartment is for sale

Building is emerging as strongest sector of economy
U.S. manufacturing growth at 2-year low: ISM

These are the cars that get the most Instagram attention
Best time to buy a new car may be just ahead
U.S. car sales are stronger than expected

10 cities in U.S. with the very worst traffic problems
Lowest Labor Day gas prices in 11 years: AAA

September — the cruelest month for stocks?
What Wall Street swoon means for your money

Unlucky lottery winner gets IOU from Illinois

/conga/frontpage.html 353896

Markets »

171.39MDow Volume:
Avg Vol: 111.86M
Unchanged
163
Decliners
5264
Advancers
1172
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,058 -470 2.84%
Nasdaq
/quotes/zigman/12633936/realtime 4,636 -140 2.94%
S&P 500
/quotes/zigman/3870025/realtime 1,914 -58 2.96%
GlobalDow
/quotes/zigman/629063/realtime 2,292 -3 0.13%
Gold
/quotes/zigman/662444/delayed 1,138 -2 0.19%
Oil
/quotes/zigman/2331095/delayed 44.35 -1.06 2.33%
FTSE 100
/quotes/zigman/3173262/delayed 6,076 +18 0.30%
DAX
/quotes/zigman/2380246/delayed 10,043 +27 0.27%
CAC 40
/quotes/zigman/3173214/delayed 4,552 +11 0.25%
FTSE MIB
/quotes/zigman/1482176/delayed 21,628 +177 0.82%
IBEX 35
/quotes/zigman/2759620/delayed 9,981 -12 0.12%
Stoxx 600
/quotes/zigman/2380150/delayed 353 +0 0.10%
Asia Dow
/quotes/zigman/6959860/realtime 2,703 -15 0.55%
Nikkei 225
/quotes/zigman/5986735/delayed 18,095 -70 0.39%
Hang Seng
/quotes/zigman/2622475/delayed 20,935 -250 1.18%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,454 -243 0.95%
Singapore
/quotes/zigman/1709939/delayed 2,878 -5 0.16%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.35%
Yen
/quotes/zigman/16008150/realtime/sampled 120.04 +0.66 0.56%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 0.00 0.12%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 0.00 0.28%
DXY Index
/quotes/zigman/1652083/delayed 95.65 +0.27 0.29%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.48 +0.31 0.35%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 +0.01 0.37%
German 10y
/quotes/zigman/15866409/realtime 0.78 -0.02 2.56%
Italy 10yr
/quotes/zigman/15866497/realtime 1.99 -0.01 0.34%
Spain 10yr
/quotes/zigman/15866444/realtime 2.15 +0.01 0.45%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.81 -0.02 0.94%
Japan 10yr
/quotes/zigman/15866525/realtime 0.39 +0.03 8.56%
Crude Oil
/quotes/zigman/2331095/delayed 44 -1 2.33%
Gold
/quotes/zigman/662444/delayed 1,138 -2 0.19%
Corn
/quotes/zigman/7599553/delayed 369 0 0.00%
DJIA F
/quotes/zigman/38649152/delayed 16,208 +121 0.75%
S&P F
/quotes/zigman/30356461/delayed 1,930 +14 0.75%
Silver
/quotes/zigman/3134148/delayed 15 0 0.62%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 87.23 -2.20 -2.46%
AAPL /quotes/zigman/68270/composite 107.72 -5.04 -4.47%
GOOG /quotes/zigman/30194416/composite 597.79 -20.46 -3.31%
BAC /quotes/zigman/190927/composite 15.58 -0.76 -4.65%
C /quotes/zigman/5065548/composite 50.94 -2.54 -4.75%
F /quotes/zigman/264304/composite 13.72 -0.15 -1.08%
T /quotes/zigman/398198/composite 32.32 -0.88 -2.65%
BP /quotes/zigman/247026/composite 32.14 -1.40 -4.17%
GE /quotes/zigman/227468/composite 23.88 -0.94 -3.79%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

World News from MarketWatch

Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/12221594/composite AMBA-6.30%
  • /quotes/zigman/10944615/composite FIVE-3.10%
  • /quotes/zigman/76117/composite EBAY-2.32%
  • /quotes/zigman/26244650/composite CIEN-1.61%
  • /quotes/zigman/1502728/composite UUP-0.60%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
  • Editorial e-newsletters about personal finance, mutual funds and market-specific coverage
  • Premium newsletters by our market experts
  • Games, such as Virtual Stock Exchange and Beat the Darts
  • Free WSJ.com registration

Email address

Password

Forgot password?

SmartMoney Blogs

Real-Time Advice
Our real-time advice on how market shifts and news impact you and your money

Facebook Flop? Hardly

Facebook (FB) shares opened at 11:30 EST Friday at a price of $42.05. By midday, they were selling at their $38 initial offering price.

That struck some market watchers as a flop. “If even Facebook can’t have a pop at the open, then should we have faith overall in technology?” asked one CNBC commentator.

By one measure, of course, the offering was as successful as they come. The lack of a big premium for the stock in early trading suggests Facebook insiders did a masterful job of finding the maximum price outsiders were willing to pay for shares.

Investors may see Facebook’s tepid open as a stroke of luck. With shares at $38, the same price privileged investors secured during the offering, even ordinary Joes can still “buy low,” right?

Careful with that thinking. A $38 stock price doesn’t make Facebook a bargain. It values the company at $104 billion. That’s more than 60 times even bullish projections for Facebook’s 2012 profits. The typical large U.S. company sells for around 13 times 2012 earnings forecasts.

Apple recently sold for 11 times earnings and Google, at 14 times earnings.

What’s more, Facebook had traded with heavy volume at exactly $38 a share by midday, but not below it. That suggests the $38 IPO price is being supported by the syndicate of underwriters–that they’re stepping up to buy at that price, in order to prevent shares from trading lower.

Such support won’t last forever. Facebook fans should probably hold out for a better price.

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (5 of 21)

View all Comments »

About Real-Time Advice

  • How breaking news — in the markets, Washington, and around the world — affects you and your money. Have a question about how current events may change your financial future? Email us at ask@smartmoney.com.

MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

New York Markets Open in:

Futures: /quotes/zigman/30356461/delayed S&P 500 +0.7% /quotes/zigman/38649152/delayed DOW +0.7% /quotes/zigman/30356458/delayed NASDAQ +0.8%

need to know
Europe stocks waver | FTSE 100 regains ground
Chinese stocks rebound from earlier selloff

Intel overhauls chip business to revive PC sales
Tesco closes in on $7 bln S. Korea deal
Brent back below $50 as oil prices keep sliding
China tightens controls to fight capital outflows
Morgan Stanley cuts S&P 500 price target
AT&T urges rejection of TRC Capital offer
Amgen finds data falsified in diabetes study


China stock market to close for World War II anniversary

There’s still too many gold market bulls, says Hulbert

McDonald’s set to offer all-day breakfast

No. 1 restaurant for ‘breakfastarians’ is ...
Teacher with 111 tardies blames breakfast

Never use a market order when stocks are selling off

Uber drivers lawsuit  endangers much more than Uber
Uber driver suit can proceed as class-action

How China turned minor yuan issue into global rout
Beijing bumbling is China’s biggest problem

Where every Fed member stands on raising rates

Rate-hike question is what Yellen didn’t want
Boston Fed president: Sept. doubt remains

How LVMH poached Apple digital exec Ian Rogers

What to expect at September Apple event
What to expect from the Apple event on Sept. 9
New on the shelves of your Apple Store: drones
Apple talks to Hollywood for exclusive content
Lost Apple deal leads to 40% job cut at GT

Babe Ruth’s New York apartment is for sale

Building is emerging as strongest sector of economy
U.S. manufacturing growth at 2-year low: ISM

These are the cars that get the most Instagram attention
Best time to buy a new car may be just ahead
U.S. car sales are stronger than expected

10 cities in U.S. with the very worst traffic problems
Lowest Labor Day gas prices in 11 years: AAA

September — the cruelest month for stocks?
What Wall Street swoon means for your money

Unlucky lottery winner gets IOU from Illinois

/conga/frontpage.html 353896

Markets »

171.39MDow Volume:
Avg Vol: 111.86M
Unchanged
163
Decliners
5264
Advancers
1172
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,058 -470 2.84%
Nasdaq
/quotes/zigman/12633936/realtime 4,636 -140 2.94%
S&P 500
/quotes/zigman/3870025/realtime 1,914 -58 2.96%
GlobalDow
/quotes/zigman/629063/realtime 2,292 -3 0.13%
Gold
/quotes/zigman/662444/delayed 1,138 -2 0.20%
Oil
/quotes/zigman/2331095/delayed 44.35 -1.06 2.33%
FTSE 100
/quotes/zigman/3173262/delayed 6,077 +18 0.30%
DAX
/quotes/zigman/2380246/delayed 10,045 +29 0.29%
CAC 40
/quotes/zigman/3173214/delayed 4,553 +12 0.26%
FTSE MIB
/quotes/zigman/1482176/delayed 21,623 +172 0.80%
IBEX 35
/quotes/zigman/2759620/delayed 9,982 -11 0.11%
Stoxx 600
/quotes/zigman/2380150/delayed 353 +0 0.10%
Asia Dow
/quotes/zigman/6959860/realtime 2,703 -15 0.55%
Nikkei 225
/quotes/zigman/5986735/delayed 18,095 -70 0.39%
Hang Seng
/quotes/zigman/2622475/delayed 20,935 -250 1.18%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,454 -243 0.95%
Singapore
/quotes/zigman/1709939/delayed 2,878 -5 0.16%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.35%
Yen
/quotes/zigman/16008150/realtime/sampled 120.04 +0.67 0.56%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 0.00 0.11%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 0.00 0.30%
DXY Index
/quotes/zigman/1652083/delayed 95.65 +0.28 0.29%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.49 +0.32 0.36%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 +0.01 0.37%
German 10y
/quotes/zigman/15866409/realtime 0.78 -0.02 2.56%
Italy 10yr
/quotes/zigman/15866497/realtime 1.99 -0.01 0.34%
Spain 10yr
/quotes/zigman/15866444/realtime 2.15 +0.01 0.45%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.81 -0.02 1.00%
Japan 10yr
/quotes/zigman/15866525/realtime 0.39 +0.03 8.56%
Crude Oil
/quotes/zigman/2331095/delayed 44 -1 2.33%
Gold
/quotes/zigman/662444/delayed 1,138 -2 0.20%
Corn
/quotes/zigman/7599553/delayed 369 0 0.00%
DJIA F
/quotes/zigman/38649152/delayed 16,205 +118 0.73%
S&P F
/quotes/zigman/30356461/delayed 1,930 +14 0.75%
Silver
/quotes/zigman/3134148/delayed 15 0 0.62%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 87.23 -2.20 -2.46%
AAPL /quotes/zigman/68270/composite 107.72 -5.04 -4.47%
GOOG /quotes/zigman/30194416/composite 597.79 -20.46 -3.31%
BAC /quotes/zigman/190927/composite 15.58 -0.76 -4.65%
C /quotes/zigman/5065548/composite 50.94 -2.54 -4.75%
F /quotes/zigman/264304/composite 13.72 -0.15 -1.08%
T /quotes/zigman/398198/composite 32.32 -0.88 -2.65%
BP /quotes/zigman/247026/composite 32.14 -1.40 -4.17%
GE /quotes/zigman/227468/composite 23.88 -0.94 -3.79%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

World News from MarketWatch

Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/12221594/composite AMBA-6.30%
  • /quotes/zigman/10944615/composite FIVE-3.10%
  • /quotes/zigman/76117/composite EBAY-2.32%
  • /quotes/zigman/26244650/composite CIEN-1.61%
  • /quotes/zigman/1502728/composite UUP-0.60%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
  • Editorial e-newsletters about personal finance, mutual funds and market-specific coverage
  • Premium newsletters by our market experts
  • Games, such as Virtual Stock Exchange and Beat the Darts
  • Free WSJ.com registration

Email address

Password

Forgot password?