This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The 5 Dumbest Things on Wall Street This Week: May 24

Stocks in this article: ANF NWS YHOO AAPL JPM

4. Rupert's Regrets

Hey Rupert, what's with the radio silence -- or should we say Twitter silence -- following Yahoo!'s (YHOO) big deal? After your tweet about Facebook (FB), we were near certain you would weigh in on Marissa Mayer's towering $1.1 billion purchase of Tumblr from CEO David Karp, but apparently we were wrong.

What's wrong old buddy? Cat got your thumbs?

The News Corp. (NWS) CEO used his Twitter account late last Thursday night to offer his two cents on research suggesting that Facebook's fanbase may be fading. The report by the Pew Research Center found that 28% of Facebook's users said the network was less important to them than it was a year earlier, while 34% of survey respondents said they spent less time on Facebook.

"Look out Facebook! Hours spent participating per member dropping seriously. First really bad sign as seen by crappy MySpace years ago," tweeted Murdoch on the one-year anniversary of the social network's IPO.

Wow! Way to let the schadenfreude shine through big guy. We know you're still smarting from paying $580 million in 2005 for MySpace and selling it for $35 million in 2011, but that's no reason to rain on Mark Zuckerberg's parade. It's not his fault that he can run a social network better than you, even if he can't orchestrate a decent IPO.

And by the way, the results of that poll were released back in February, so once again your timing was off. You were early with your MySpace purchase and failed to capitalize on it. Now you're months late with your digital curmudgeonry over Facebook's success.

Here's an idea Rupert. Maybe you should set your alarm right now for May 20, 2014.

We want you to be right on time if you plan to start carping about Karp's big deal.

2 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs