News Byte

Facebook Gives Nasdaq the Rose, Will Trade as FB

Sources are telling CNBC and the New York Times that Nasdaq has won the prestigious hand of Facebook for the social giant’s approaching IPO, leaving the NYSE to chalk up a miss in its efforts to attract a hipper crowd of companies. Facebook will trade under the simple but elegant symbol FB.

News Byte

Mobile Ad Network Millennial Media Nearly Doubles on First Day

A big pop for Millennial Media: Shares in the mobile ad network, which priced at $13 in advance of its IPO yesterday, shot up immediately Thursday morning to $25; climbed as high as $27.90; and ended back around $25, up 92 percent. That gives the money-losing company a market cap of $1.9 billion; Google and Apple paid much less to acquire Millennial’s primary competitors in the last few years.

Pandora Had a Good Wednesday, and a Terrible Thursday. What About the Next Couple Years?

Why was Pandora worth $4 billion on Wednesday, and $2.1 billion by Thursday morning? Who knows. Better question: What happens to the Web music company over the next few years? Time for a Q&A with CEO Joe Kennedy
slim pickens

What Happens When a Social Media Company Goes Public? Twitpics, Blog Posts and Trending Topics.

LinkedIn is notable for being the first major social networking company to go public, but it’s also one of the first companies to go public whose leaders are avid social networking users.

LinkedIn Shares Jump 100 Percent Out of the Gates

LinkedIn, the business networking site, leaped in morning trading after its public debut on the New York Stock Exchange today. After pricing at $45, shares opened at $83 and were trading above $90 this morning.

Renren Evades Red Flags to Raise $743M and Soar 40 Percent on IPO Day

Investors are ravenous for social networking and Chinese Internet companies. That’s the only rational explanation for Chinese social network Renren’s debut on the New York Stock Exchange today, which raised $743.4 million and saw shares sustain a 40 percent gain in afternoon trading.

Voices

Sprint Left Scrambling After AT&T Deal

The combination between AT&T Inc. and T-Mobile USA would leave Sprint Nextel Corp. even further behind. The surprising deal would widen the gap between Sprint and its two larger rivals, and would place it last among the national wireless carriers.

Wall Street Welcomes the Content Farm: Demand Media Supersizes Its IPO

It’s the first big-name Web company to go public in a very, very long time. And there was enough appetite for Demand to sell more shares, at a higher price, than it had planned. Now everyone else gets to vote.

IBM Results Beat Expectations on Strong Hardware Sales

Strong hardware sales, led by the System Z mainframe business, boosted the quarter.

Apparently Two Motorolas Are Better Than One

Shares of the cellphone-making unit rose in their first day of trading, while the remaining company, Motorola Solutions, held its own. The issuing of separate stock marks the end of a long process to divide the communications giant in half.

Nortel Agonistes