Facebook's stock continues on a tear

One day after breaking the $30 mark, Facebook settles above $31 as speculation about next week's media announcement builds.

The Nasdaq board in Times Square advertises Facebook on May 18, 2012 Spencer Platt/Getty Images

Yesterday it broke $30. Today it surpassed $31. Tomorrow -- anybody's guess but the decided bias in the market is up as Facebook's stock continued on its recent tear, the latest catalyst being the mounting speculation about a possible phone in the company's future.

Facebook's shares, which climbed as high as $31.45 during the day, closed at $31.30, up 71 cents.

The company has issued an invitation to reporters to an announcement at Facebook's headquarters Tuesday. Elsewhere, the stock may be getting a boost from optimism about management's ability to better monetize Facebook's mobile business. Facebook releases its quarterly earnings on January 30. The consensus earnings-per-share estimate among the 33 analysts is 15 cents.

About the author

Charles Cooper was an executive editor at CNET News. He has covered technology and business for more than 25 years, working at CBSNews.com, the Associated Press, Computer & Software News, Computer Shopper, PC Week, and ZDNet.

 

Join the discussion

Conversation powered by Livefyre

Show Comments Hide Comments
Latest Galleries from CNET
A roomy range from LG (pictures)
This plain GE range has all of the essentials (pictures)
Sony's 'Interview' heard 'round the world (pictures)
Google Lunar XPrize: Testing Astrobotic's rover on the rocks (pictures)
CNET's 15 favorite How Tos of 2014
CNET's 15 most popular How Tos of 2014