Another tough week for Facebook

week in review Facebook stock hits new lows as the company struggles to please investors. Also: Apple and Samsung go at it in court, and Twitter takes an Olympic misstep.

History in the making, May 18, 2012 CNET

It's been another brutal and busy week for Facebook, which saw its stock dip below $20 a share for the first time since its May IPO. And the bleeding just won't stop .

Facebook closed on Thursday just above $20 a share -- almost half the debut price. This despite Facebook's latest wave of selling, which began when Zynga spooked investors with its lousy earnings report last Wednesday and continued with Facebook's own unspectacular earnings. And word that some big boys have dumped the stock hasn't helped. The Wall Street Journal reported that Fidelity, one of Facebook's largest institutional investors, sold some 1.9 million shares across 21 of its mutual funds in June.

The stock, however, is up this morning. But that doesn't change the outlook much. On Wednesday came word of three executives leaving the company : Director of Platform Partnerships Ethan Beard; Platform Marketing Director Katie Mitic; and Mobile Platform Marketing Manager Jonathan Matus.

Meanwhile, Facebook announced on Thursday that it has relaunched Facebook Stories , "meant to celebrate the people who connect and share in innovative ways." Of course they're also meant to boost the public's opinion of the social network.

Facebook also said this week that it plans to move all of its 950 million users to Timeline this fall. That means it's time for users to weed their profiles of any potentially embarrassing old posts, which may become more prominent with the Timeline-style presentation.
•  Facebook: 8.7 percent are fake users
•  Firm ditches Facebook for Twitter, claims clicks are bots
•  Questions mount as Facebook advertisers lose to clickbots

More headlines

Apple v. Samsung re-opens with plenty of drama

Judge in the case asks for no sideshows or antics, and questions jurors on whether they've heard anything about the patent struggle outside the courtroom.
•  Apple seeks 'emergency' sanctions against Samsung
•  Samsung in Olympic form showing how to work the refs
•  Samsung lashes back at Apple in excluded evidence spat
•  Apple: Misconduct part of Samsung's legal strategy
•  Samsung to Apple: It's not copying, it's competing
•  Complete coverage: Apple v. Samsung

Twitter apologizes for Guy Adams 'mess-up'

Following debacle surrounding the suspension of journalist Guy Adams' account, the microblogging service says it made a mistake.
•  Twitter's breach of trust
•  Guy Adams' Twitter ban lifted

Microsoft previews Hotmail successor, Outlook.com

Redmond is rolling out a preview of a new e-mail service that combines elements of Exchange and Hotmail into a Metro-influenced client.
•  Microsoft's Outlook.com lures 1M users in 6 hours

Dropbox confirms it was hacked, offers users help

After a two-week investigation, the online file-storage service confirms that usernames and passwords were stolen from third-party Web sites and then used to access Dropbox accounts.

Windows 8 takes big RTM step toward consumers

Microsoft's Windows 8 development is done, and the OS is off to PC makers. Some users will be able to get the final bits within days. Also RTM'd: Windows Server 2012, Visual Studio 2012, and IE10.
•  Is 'Metro' now a banned word at Microsoft?
•  Windows 8 store now up to 450 Metro-style apps

Google Wallet goes cloud; supports all credit, debit cards

Google might have figured out the key to mass adoption of its Wallet product: accept every major credit and debit card that's available.
•  Amex didn't sign on to Google Wallet's major app upgrade

Facebook to shuttle all users to Timeline this fall

The social network says it will roll over its 950 million users to Timeline by "fall." It's time to get your affairs in order.
•  Facebook touts relaunched 'Facebook Stories'

Republicans block vote on cybersecurity bill

Democrats fail to overcome a GOP filibuster to bring the bill to the Senate floor before the August recess.
•  Cybersecurity bill bombarded with amendments

Digg has a new clean look, lacking in features

Digg had a mass exodus of users back in 2010 when the site let major news agencies dominate the front page with sponsored listings. Can a cleaner design and a new attitude bring the site back to its former glory?
•  New Digg is now live, with focus on 'top stories'

Amazon unveils Instant Video app for iPad owners

iPad users can now watch their favorite movies and TV shows from Amazon's video library directly on their tablets.
•  iTunes vs. Amazon: What's the best video service on the iPad?

Curiosity rover drives $2.5B make-or-break Mars mission

The Mars Science Laboratory is the most expensive and complex lander ever sent to the Red Planet. It's a nuclear-powered rover that will scale a 3-mile-tall mountain to seek the building blocks of life.
•  Aging NASA science satellite on call to confirm Mars landing
•  High-stakes Mars mission relies on untried 'sky crane'

Also of note
•  Google passes Apple to become 'top global brand,' study says
•  Court to TSA: Hey, what about your nude scanners?
•  Senate to debate whether online retailers must collect sales tax
•  Social marketing a big deal? Google thinks so, buys Wildfire
•  Amazon's cloud music service gets scan and match
•  Why it's not doom and gloom for HTC yet

 

Join the discussion

Conversation powered by Livefyre

Don't Miss
Hot Products
Trending on CNET

HOT ON CNET

Is your phone battery always at 4 percent?

These battery packs will give your device the extra juice to power through all of those texts and phone calls.