Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

FACEBOOK INC

(FB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Wall Street closes mixed, S&P 500 ends off record high

08/04/2021 | 05:01pm EDT
FILE PHOTO: A Wall Street sign outside the New York Stock Exchange

(Reuters) - U.S. stocks closed mostly lower on Wednesday, with the S&P 500 falling from a record high after data signaled a slowdown in jobs growth in July, and General Motors tracked its worst day since early March.

GM's shares slumped 8.9%, underscoring the uncertainty facing global automakers at a time of technological and economic disruption. Shares of rival Ford Motor Co fell 5.0%.

Nine of the 11 S&P indexes were lower, with industrials and energy both slipping, as data showed U.S. private payrolls increased far less than expected in July, likely constrained by shortages of workers and raw materials.

The blue-chip Dow, heavily weighted toward economically-sensitive stocks, also declined.

The technology-heavy Nasdaq bucked the trend after another report showed a measure of U.S. services industry activity jumped to a record high last month, suggesting a broader economic rebound was still on track.

"The ADP employment report this morning (is a) big miss ... has people really locked in on tomorrow's initial claims and then Friday's non-farm payrolls report," said Ross Mayfield, investment strategist at Baird in Louisville, Kentucky. "To me that's a big driver (of the market today)."

"Broadly, the continued evolution of COVID-19, the Delta variant over the recent weeks and months kind of re-rating of the growth outlook" has the market coming to terms with what it means for the reflation trade, and what it means to the bond market, Mayfield said.

After six straight month of gains, the benchmark S&P 500 has struggled to rise in August over concerns about the pace of growth as the economy rebounded from the depths of the COVID-19-driven recession, and fears of higher inflation overshadowed a stellar corporate earnings season.

Federal Reserve Vice Chair Richard Clarida said on Wednesday the central bank should be in the position to begin raising interest rates in 2023.

Still, tech and tech-adjacent stocks such as Netflix Inc and Facebook Inc, which tend to perform better when interest rates are lower, outperformed the broader market.

Focus now turns to the Labor Department's monthly jobs report on Friday.

The Dow Jones Industrial Average fell 323.73 points, or 0.92%, to 34,792.67, the S&P 500 lost 20.49 points, or 0.46%, to 4,402.66 and the Nasdaq Composite added 19.24 points, or 0.13%, to 14,780.53.

In earnings-related moves, BorgWarner Inc fell even as it beat profit expectations on strong consumer demand for new vehicles, while Kraft Heinz Co tumbled after warning of margin pressure from higher prices of ingredients.

Robinhood Markets Inc jumped 50.4% as interest from star fund manager Cathie Wood and small-time traders set up the stock for a fourth session of gains after its underwhelming market debut last week.

Volume on U.S. exchanges was 9.78 billion shares, compared with the 9.71 billion average for the full session over the last 20 trading days.

Declining issues outnumbered advancing ones on the NYSE by a 2.02-to-1 ratio; on Nasdaq, a 1.82-to-1 ratio favored decliners.

The S&P 500 posted 67 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 93 new highs and 107 new lows.

(Reporting by Echo Wang; Additional reporting by Sagarika Jaisinghani, Sruthi Shankar and Shashank Nayar in Bengaluru; Editing by Arun Koyyur, Aditya Soni and Diane Craft)

By Echo Wang


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FACEBOOK INC -2.24% 364.72 Delayed Quote.33.52%
NETFLIX, INC. 0.49% 589.35 Delayed Quote.8.99%
ROBINHOOD MARKETS, INC. 1.03% 42.38 Delayed Quote.0.00%
THE KRAFT HEINZ COMPANY 0.03% 36.55 Delayed Quote.5.45%
All news about FACEBOOK INC
09/18Facebook says WSJ allegations are 'mischaracterizations,' confer 'false motiv..
RE
09/18FACEBOOK : What the Wall Street Journal Got Wrong
PU
09/18PRESS RELEASE : FDA Advisory Committee Votes -2-
DJ
09/17FACEBOOK INVESTIGATION INITIATED BY : Kahn Swick & Foti, LLC Investigates the O..
BU
09/17Communication Services Shares Move Lower - Communication Services Roundup
DJ
09/17US Stocks Drop as Large-Cap Techs Lose Luster; Consumer Sentiment Disappoints..
MT
09/17FACEBOOK : Ireland raises privacy question over Facebook smart glasses
RE
09/17Vaccine bookings jump in Italy after COVID health pass made mandatory
RE
09/17FACEBOOK : Jefferies Adjusts Facebook's Price Target to $440 from $425, Keeps Bu..
MT
09/17VC DAILY : Question: What's Top of Mind for VCs as -2-
DJ
More news
Analyst Recommendations on FACEBOOK INC
More recommendations
Financials (USD)
Sales 2021 120 B - -
Net income 2021 40 634 M - -
Net cash 2021 79 290 M - -
P/E ratio 2021 25,8x
Yield 2021 -
Capitalization 1 028 B 1 028 B -
EV / Sales 2021 7,94x
EV / Sales 2022 6,45x
Nbr of Employees 63 404
Free-Float 84,0%
Chart FACEBOOK INC
Duration : Period :
Facebook Inc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 49
Last Close Price 364,72 $
Average target price 416,29 $
Spread / Average Target 14,1%
EPS Revisions
Managers and Directors
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
Sector and Competitors
1st jan.Capi. (M$)
FACEBOOK INC33.52%1 028 308
KUAISHOU TECHNOLOGY0.00%54 108
TWITTER, INC.15.36%49 744
MATCH GROUP, INC.3.94%43 498
BUMBLE INC.0.00%6 466
NEW WORK SE-21.07%1 458