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U.S. Morning Call: Facebook's finances; Netflix cut

Tuesday, April 24, 2012 - 02:27

April 24 - Facebook reveals a quarterly revenue decline from the previous quarter ahead of an IPO, and Netflix reports a first-quarter loss.

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Here's your morning call for this Tuesday FaceBook falls flat. The social networking giant reporting quarterly revenue decline from the previous quarter -- profit fell from the same three months a year earlier. The company blamed the drop on seasonal advertising trends. It comes ahead of its planned five billion dollar IPO which could give -- a hundred billion dollar valuation. FaceBook also -- have to pay mr. Graham a 200 million dollar fee. If the deal does not go through agreed to by the photo sharing service for one billion dollars. More fallout for Wal-Mart followed allegations of bribery involving its Mexican subsidiary. To democratic US lawmakers say they're launching an investigation into the matter. -- -- might do the letter requesting a meeting. Mexico's leading presidential candidate and lawmakers called a local authorities to look into the claims reported by the New York Times. The stock losing about ten billion dollars of value Monday though still trading near the top of its range over the past year. Barclays and JPMorgan among the brokerage is cutting the price targets on Netflix this morning. -- money that video rental company projected slower subscriber growth this quarter towards -- US video streaming service. Netflix did report a rise in revenue and a smaller loss than anticipated. CEO Reed Hastings saying he sees nothing new or particularly concerning about customer viewing or retention. Well investors they're viewing him differently the stock's down about 15% in premarket all the harder talents argument that stock is false hope. Far so fast. Other stocks to watch today include apple to report quarterly results after the closing bell based on the activity of weekly -- options. Shares are expected to move by 43 dollars or seven and a half percent in either direction after the report. And United Technologies the manufacturing firm posting quarterly earnings that exceeded forecasts on better than expected demand. Residential heating and cooling systems in North America. And this series of economic reports out today as a Federal Reserve starts shooting meeting including consumer confidence. Economists expecting a very slight pullback from the seventy point two reading in March. Thomson Reuters I farm markets attributing the decline partly to labor market jitters. The report comes out at ten along with new home sales the case Shiller home price index is released at nine. After morning call this Tuesday I'm Fred Katayama and this is Reuters in --

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U.S. Morning Call: Facebook's finances; Netflix cut

Tuesday, April 24, 2012 - 02:27