Today’s Business News
Facebook plans prompt look at tech IPOs of past; New tech stocks' prospects can be tricky to predict
USA TODAY (May 16, 2012)
Before you get too excited about Facebook's initial public offering on Friday, remember that technology IPOs aren't always a long-term investor's best friend.
USA TODAY (May 16, 2012)
General Motors made a dramatic update to its status on Facebook. Just days before Facebook's expected initial public offering, spokesman Tom Henderson said GM is "reassessing" the value of buying ads on the social-network site. He wouldn't provide details and said GM regularly reviews its ad expenditures.
The New York Times (May 16, 2012)
While retailers including Home Depot, Saks Fifth Avenue and TJX Companies reported solid profits on Tuesday, J. C. Penney, in the midst of an ambitious turnaround plan, posted a big loss and said its quarterly sales had dropped 20 percent. J. C. Penney has a new chief executive, Ron Johnson, the former Apple retail chief.
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