Facebook stock again below $30 – Amid concerns that Facebook will report lackluster Q2 earnings, the company’s stock closed at $28.76 today. Not even news that Facebook will begin testing search-based ads could bring the share price above $30 where it closed last week. The stock is down more than 6 percent this week and more than 24 percent since Facebook’s initial public offering in May. The company’s earnings call is scheduled for Thursday.
Nasdaq to revise IPO compensation proposal – Nasdaq is expected next week to release a compensation plan for investors who were affected by technical issues during Facebook’s stock market debut. Fox sources say the deal will be all in cash, and likely above the $40 million originally proposed. Nasdaq is continuing to work with the Securities and Exchange Commission on a second draft of the proposal, after its initial plan was met with criticism from investors, who may have lost a combined $200 million or more from the IPO.
Washington state to allow voter registration via Facebook – Washington’s secretary of state’s office said Tuesday it will offer an application on its Facebook page that allows residents to register to vote and then share the story with friends. The app, which is the first of its kind, is expected to launch as early as next week.
Facebook falls in consumer satisfaction – Facebook, already the lowest-scoring e-business company, experienced an even further decline in customer satisfaction, according to the American Customer Satisfaction Index. An E-Business Report released in partnership with customer experience analytics firm ForeSee showed Facebook dropped 8 percent to 61 on a 100-point scale, setting a new record-low score for e-business and placing it among the five lowest-scoring companies of the 230 measured by the ACSI. Google+ scored 78 in its first appearance in the ACSI.
Zuckerberg and team looking to foster relationship with Walmart – Facebook’s senior management team, including CEO Mark Zuckerberg, are scheduled to spend two days at Wal-Mart Stores Inc’s headquarters in Bentonville, Arkansas, meeting with executives and discussing ways to “deepen” the company’s relationship, according to Reuters. Zuckerberg and COO Sheryl Sandberg have already shared photos from their visit, which began today.