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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
May 18, 2013
Page
9
A year after its IPO the social network faces a sober reality as stock fell about 30 percent from debut. Revenue rose 38 percent to 1.46 billion and users reached 1.1 billion, with daily active users around 665 million. The firm rolled out mobile ads, a search feature and a branded smartphone, addressing prior doubts.
Encouraging U S economic news extends stock market rally with a rise in a futures gauge and consumer confidence, lifting indexes to record levels. Northrop Grumman buys back stock, Dow up 8 percent for the week, S P 500 near 1666 as investors stay optimistic on growth and low rates.
The yen's slide, funded by Japan's stimulus, makes cars and electronics cheaper abroad while lifting the cost of foreign products in Japan. A dollar buys about 100 yen, down from under 80 last fall, lifting overseas demand for Toyota and Sony while Tokyo becomes less pricey for visitors.
DETROIT AP GM shares rose above 33 reaching 33.77 before easing to 33.42 in Friday trading. The move follows solid first quarter earnings and signs that European sales may have bottomed, with demand in the United States and China supporting gains.
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