Morning Media Newsfeed: Twitter’s IPO Soars | Lara Logan Apologizes | Guns & Ammo Editor Out

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Twitter’s Stock Closes at $44.90 A Share, Up 73 Percent on Its First Day (The Verge)
Twitter held its initial public offering on the New York Stock Exchange Thursday morning, opening its stock up for purchase to any interested investor, and as it turns out, there were many. Shortly after trading began around 9:30 a.m. ET, Twitter’s share price rocketed well past the $26 per share minimum the company set Wednesday night, opening up 74 percent at $45.10 to start the day. It finished the day right around the same spot, at $44.90. WSJ “Phew!” tweeted Anthony Noto, the lead banker on the deal from Goldman Sachs Group Inc., moments after shares started trading. Those five characters summed up the sentiment among those involved in the market debut of the 140-character messaging service, the second-biggest U.S.-listed Internet offering ever after Facebook. Bloomberg Businessweek Twitter’s Nov. 7 initial public offering marks the San Francisco-based company’s coming-out party, the moment when it graduates from its South of Market beginnings and takes its place as one of the Internet’s most valuable properties, without ever turning a profit. What’s perhaps most remarkable about Twitter’s rise is how little the service has evolved from the original core concept of the 140-character tweet — which is to say, not at all. Reuters The strong performance on Thursday is encouraging for the venture capitalists who have backed other consumer Web startups, such as Square or Pinterest, though it sounded alarm bells for some investors who cautioned that the froth was unwarranted.

Lara Logan Apologizes for Botched 60 Minutes Benghazi Report, Says Show Will Issue Correction (HuffPost)
60 Minutes correspondent Lara Logan admitted on Friday morning that she and the news magazine had made a “mistake” in their reporting of a controversial story about the Benghazi attacks. She apologized to viewers and said 60 Minutes will issue a correction about the reliability of one of her key sources, security contractor Dylan Davies, on its next program. “We were wrong to put him on air,” she said, adding, “We will apologize to our viewers and we will correct the record on our broadcast on Sunday night.” NYT Davies, a security officer hired to help protect the United States Special Mission in Benghazi, Libya, gave the FBI an account of the night that terrorists attacked the mission on Sept. 11, 2012 that contradicts a version of events he provided in a recently published book and in an interview with 60 Minutes. TVNewser The inconsistencies in the stories have led to calls for a retraction and for fresh Congressional hearings to determine what really happened that night.

Guns & Ammo Editor Apologizes for Pro-Gun Control Column, Steps Down (Ad Age / Media News)
Jim Bequette, the editor-in-chief of Guns & Ammo, issued an abject apology Thursday for the magazine’s recent editorial advocating gun regulation, saying he would resign immediately from his post atop the firearms magazine. The author of the column, contributing editor Dick Metcalf, was also shown the door, Bequette said in his letter of apology. “I made a mistake by publishing the column,” Bequette said in the letter, which was posted to the Guns & Ammo website. “I thought it would generate a healthy exchange of ideas on gun rights. I miscalculated, pure and simple. I was wrong, and I ask your forgiveness.” Daily Beast Metcalf’s back-page column was headlined “Let’s Talk About Limits,” and cautiously argued that gun enthusiasts should not oppose basic limits on firearm ownership. Metcalf made the obvious point that all freedoms protected by the Constitution are regulated in some way, and that gun owners should stop acting as if any regulation whatsoever amounts to the “infringement” mentioned in the Second Amendment. “I don’t think requiring 16 hours of training to qualify for a concealed carry permit is infringement in and of itself,” Metcalf concluded. “But that’s just me.” TPM / LiveWire Readers threatened to boycott the magazine and cancel their subscriptions until Metcalf was fired.

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