newspower.eu

Facebook Inc. (FB) (FB) Chief Executive Officer
Mark Zuckerberg announced his marriage to Priscilla Chan on his
Facebook page yesterday. The couple wed in a ceremony in the
backyard of his home in Palo Alto, California, the Associated
Press reported.

Zuckerberg, 28, wed his long-standing girlfriend Chan, 27,
before fewer than 100 guests, who had arrived expecting only to
celebrate Chan’s graduation from medical school, AP said.

The two updated their Facebook pages with a wedding photo,
and changed their relationship statuses to “married.” The
ceremony came after Facebook raised $16 billion in the largest
initial public offering on record for a technology company.

Facebook shares rose 0.6 percent to $38.23 as of 4 p.m. in
New York on May 18 after earlier trading at the IPO price of
$38, which valued the company at $104.2 billion. Zuckerberg’s
net worth rose $100 million to $19.4 billion, ranking him 26th
on the Bloomberg Billionaires Index, ahead of Google Inc. (GOOG) (GOOG)’s
Sergey Brin and Larry Page.

The Facebook photograph shows Zuckerberg in a suit rather
than his trademark hoodie, and Chan in a white wedding dress.
The pair met at Harvard University, where Zuckerberg founded the
social-networking site in 2004, and have been together for nine
years, AP reported, citing a guest authorized by the couple to
speak.

Zuckerberg, who was named Time magazine’s Person of the
Year in 2010, designed the ring featuring “a very simple
ruby,” AP said, citing the same source.

To contact the reporter on this story:
Andy Sharp in Tokyo at
asharp5@bloomberg.net

To contact the editor responsible for this story:
Paul Tighe at
ptighe@bloomberg.net

Sprint announced on Friday a $100 credit if you trade in an iPhone from another carrier and purchase a new iPhone 4S along with a two-year contract. With ATT and Verizon sunsetting their unlimited plans, Sprint is hoping to capitalize on the fact that it continues to offer unlimited data plans by making it easier for people to switch.

According to the Sprint website, “For a limited time, bring us an iPhone from any carrier and get at least $100 off a new iPhone 4S when you open a new line with Sprint or add a line to your account.” The offer accepts any model of iPhone and will end on July 1st.

With Verizon and ATT both expected to soon offer shared data plans and tiered pricing, those customers who feel slighted by the change or use large amounts of data will be tempted by this offer from Sprint. Sprint has committed to continuing the unlimited data option when the next iPhone is announced, whether it be an LTE phone or not.

Sprint was the last of the big carriers to sell the iPhone, first getting the device in October 2011. The company considers the unlimited data plans as its major differentiation from the other carriers.

Sprint has had some success in attracting new customer with this strategy in recent quarters, but profitability has lagged due in part due to the high cost of subsidizing iPhone prices. This latest offer seems to be another attempt at the short-term pain, long-term gain strategy that Sprint has been taking with the iPhone.

[Via AppleInsider]

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Investors left out of the Facebook IPO are getting a second chance, but some might question if they even want it.

Mania over shares of the No. 1 social-networking company quickly turned to skepticism Friday. Shares barely budged from their initial public offering price of $38 and closed at $38.23 on the first day of trading.

The lackluster opening means individual investors can buy Facebook stock at the same price shares were offered to privileged investors. Investors who piled in the first day lost as much as 15% in just a few hours.

Many analysts are suggesting that investors resist the urge to jump in.

“I would not touch this,” says Josef Schuster of IPOX Schuster. “Facebook’s (stock) trend is to the downside.”

Even though investors can get a crack at owning Facebook at essentially the IPO price, they should take a pass because:

Weak first day

The IPO’s tepid debut breaks confidence in the stock, just as it needs it. Investors will now focus on the company’s earnings growth, already showing signs of weakening, says Francis Gaskins of IPOdesktop.com.

The biggest IPO after Facebook, General Motors, ran into similar weakness in its debut and was never able to shake it off. GM rose 3.6% on its first day of trading in 2010, but since has fallen nearly 38% from its first-day close.

Lofty valuation

Facebook is trading for more than 100 times its 2011 earnings. That’s well above the Google’s P-E of 18. Stocks with such high valuations and unproven business models such as Facebook tend to disappoint as they cannot keep up with expectations, says Robert Maltbie of Singular Research.

Broad market struggles

Volatility in Facebook’s stock will be exacerbated by the stock market’s struggles as investors avoid added risk, Schuster says. Stocks are down 5% over the past 10 trading days on concerns about Europe and Asia.

Individual investor dogpile

Mania-level interest in Facebook by individual investors shows just how hyped, and overvalued, the stock is, Gaskins says. Trading in Facebook accounted for 22% of volume at top broker TD Ameritrade, says the large brokerage’s Steve Quirk.

Patient investors still interested in Facebook will get another chance to buy, at a lower price, Gaskins says. Investors should avoid the stock until it hits roughly $20, Gaskins says. Schuster says the stock deserves a closer look at $31 a share.

“Don’t invest in Facebook right now,” says Larry Chiagouris, professor of marketing at Pace University. “Let it seek its own level, which isn’t where it is now.”

Investors left out of the Facebook IPO are getting a second chance, but some might question if they even want it.

Mania over shares of the No. 1 social-networking company quickly turned to skepticism Friday. Shares barely budged from their initial public offering price of $38 and closed at $38.23 on the first day of trading.

The lackluster opening means individual investors can buy Facebook stock at the same price shares were offered to privileged investors. Investors who piled in the first day lost as much as 15% in just a few hours.

Many analysts are suggesting that investors resist the urge to jump in.

“I would not touch this,” says Josef Schuster of IPOX Schuster. “Facebook’s (stock) trend is to the downside.”

Even though investors can get a crack at owning Facebook at essentially the IPO price, they should take a pass because:

Weak first day

The IPO’s tepid debut breaks confidence in the stock, just as it needs it. Investors will now focus on the company’s earnings growth, already showing signs of weakening, says Francis Gaskins of IPOdesktop.com.

The biggest IPO after Facebook, General Motors, ran into similar weakness in its debut and was never able to shake it off. GM rose 3.6% on its first day of trading in 2010, but since has fallen nearly 38% from its first-day close.

Lofty valuation

Facebook is trading for more than 100 times its 2011 earnings. That’s well above the Google’s P-E of 18. Stocks with such high valuations and unproven business models such as Facebook tend to disappoint as they cannot keep up with expectations, says Robert Maltbie of Singular Research.

Broad market struggles

Volatility in Facebook’s stock will be exacerbated by the stock market’s struggles as investors avoid added risk, Schuster says. Stocks are down 5% over the past 10 trading days on concerns about Europe and Asia.

Individual investor dogpile

Mania-level interest in Facebook by individual investors shows just how hyped, and overvalued, the stock is, Gaskins says. Trading in Facebook accounted for 22% of volume at top broker TD Ameritrade, says the large brokerage’s Steve Quirk.

Patient investors still interested in Facebook will get another chance to buy, at a lower price, Gaskins says. Investors should avoid the stock until it hits roughly $20, Gaskins says. Schuster says the stock deserves a closer look at $31 a share.

“Don’t invest in Facebook right now,” says Larry Chiagouris, professor of marketing at Pace University. “Let it seek its own level, which isn’t where it is now.”