GDP report: Growth revised lower in third quarter

Finance News

• No, Facebook did not make Bono world's richest musician
  Reports of Bono's payday have been greatly exaggerated. FORTUNE -- There have been a lot of silly things written about Facebook in the past 24 hours, but this item over at HuffingtonPost takes the cake: Of course, HuffPo was not alone. Similar sophistry was posted at MSN, music blog NME and, most egregiously, on NASDAQ's own website. Here's th […]
• 38 Special: Facebook bankers got it right
  Facebook shares stay flat, and that's okay. FORTUNE -- Facebook (FB) shares didn't pop. They didn't crumble. They closed the day at $38.23 per share, or less than a percentage point higher than where the company's IPO had priced last night. The typical media narrative, of course, is catastrophic. Conventional wisdom had been that Facebook […]
• Another thing spooking Facebook's stock: Taxes
  There will be a flood of shares hitting the market when employees and insiders sell, which could hurt the new shareholders the most. FORTUNE -- Add taxes to the potential reasons the social network's stock didn't pop in its IPO. The issue is the $4 billion dollars that will be owed by Facebook's employees as part of their stock windfall in six […]