In her new lyric video for “Wide Awake,” pop singer Katy Perry uses the Facebook timeline as a visual motif to convey the myriad successes she’s had since the release of her last album in 2010. (All that success stacked up upon itself is sort of a kiss-off to her ex-husband, Russell Brand, as their Read More
In the days before the Facebook hysteria had fully bloomed, we sought comment from investors who planned to buy the stock. Did they know half of Twitter was bashing Facebook as massively overpriced? Were they chasing the next Google? Did they just like Zuck?
Yesterday we finally caught up with a Facebook investor. Alper Aydinoglu Read More
Another big insider trading trial kicks off, a Morgan Stanley analyst cut Facebook projections ahead of Friday’s IPO and the day’s dose on JPMorgan trading losses. And still more in today’s Wall Street roundup.
What’s Good for the Gupta: The trial of former McKinsey & Co. chief executive Rajat Gupta opened yesterday, and legal Read More
Which is probably fine for Facebook, which got maximum value out of the offering (though maybe not great public relations), just peachy for investors who flipped their allocated stock, and short-term rotten for anyone who bought in the 40s expecting an extended pop.
A bug in JPMorgan’s chief investment office led to discord. A glitch in Nasdaq’s system delayed Facebook’s IPO. The next big insider trading trial opens today. And more, in today’s Wall Street roundup.
Down-tick: The London and New York desks of JPMorgan’s chief investment office had long been at odds, and shouting matches were common Read More
JPMorgan fallout: Jamie Dimon couldn’t sleep after seeing the CIO positions! He had a hard time breathing! Mr. Dimon drank vodka, others drank wine and the JPMorgan chief executive officer struggled to fire “sister” Ina Drew. Ms. Drew told executives at an April 9 operating committee meeting that early press reports of the London Whale were Read More
What with Moody’s set to downgrade
As we noted earlier this morning, some of the retail brokerages fortunate to get their hands on Facebook allocations are apparently telling clients they’re out of stock, i.e., you and Aunt Sally can forget about $38 a share and assume that whatever you wind up paying, you’re going to be lining the pockets of Read More
Losses mount: Tack on another $1 billion to the $2 billion-plus in trading losses JPMorgan disclosed a week ago today, says Dealbook, as hedge funds and other investors—knowing that Jamie Dimon’s firm is under pressure to sell out from under the losing bet—continue to prey on the firm’s huge, illiquid position.
Before Bruno Iksil Read More
The Facebook IPO keeps growing, a new source of irony in JPMorgan’s losses and an old player heads goes in for a fresh helping of mortgage bonds. That and more in today’s Wall Street roundup.
Who needs revenue? The world’s largest social network may yet challenge the record for the world’s largest IPO, as Zuck Read More