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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Aug 01, 2013
Page
9
Facebook Inc shares rose 1.2 percent to 38.08 in morning trading, passing its 38 IPO price for the first time since its May debut. The gain follows strong earnings and a more than 50 percent rebound last week, as investors focus on mobile ad revenue growth.
The U S economy expanded at an annual rate of 1.7 percent from April through June, a modest gain offset by weaker consumer spending. Government cuts were smaller and business investment rose, while a down revision for January-March to 1.1 percent supports hopes of acceleration later in the year.
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