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U.S. Morning Call: Facebook talked itself down-sources

Wednesday, May 23, 2012 - 02:17

May 23 - Sources tell Reuters Facebook urged analysts to cut their growth estimates for the firm ahead of its IPO.

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Based -- down it's out Morgan Stanley gets more heat and stocks. Looks set to fall here's morning comments Wednesday sources telling Reuters FaceBook -- analysts cut their growth investments for the firm head of the IPO. The social network making the decision while promoting the company during its own roads according to people with direct knowledge. They say the decision was based on feedback indicating -- users for accessing FaceBook. -- mobile devices would generate less advertising revenue and after consulting with its lead underwriter Morgan. Morgan Stanley JPMorgan Chase Goldman Sachs and Bank of America heeded the advice each drop their full year revenue forecast. Below five billion with more tangled in the top two underwriters. The most optimistic. -- -- daily FaceBook now open to accusations of selective disclosure is smaller investors who bought shares in the IPO we're left in the dark. Morgan releasing a statement saying it all of the same procedures that -- that but it does. For all IPOs and it is in compliance with the law. The bank declined to speak to the question of whether it I beats them to give. Morgan Stanley -- provided to revive active though not annual earnings forecast to all retail and institutional investors. Massachusetts has competed Morgan over analysts discussions with investors at FaceBook. And the well -- out of stock. It's bouncing around in the premarket trading of 31 dollars it closed Tuesday at 31 meaning it has a sixty PE ratio and a valuation. 84 million dollars. Well -- not the only thing lower this morning of a stock index futures heading south as well Dow NASDAQ S&P 500 futures down. -- half of 1% each Euro fall against. The dollar and stocks on the continent down to as investors doubted any new measures as a result eurozone crisis would emerge from the summit of leaders. And a few more stocks to -- starting with gallantly seven brokerages cut their price tag on the time tech company after it. Reported disappointing results and that sales continue to strain. And PetSmart -- trees that look after posting a better than expected profit. People certainly love their pets. That's according call this Wednesday I'm Jen Rogers supporters there.

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U.S. Morning Call: Facebook talked itself down-sources

Wednesday, May 23, 2012 - 02:17