By noon, Facebook shares had climbed 3.8% to $66.89. Year to date, Facebook is up 22.4%, one of the few stocks to make gains since January. Trading volume of 30.4 million is just over half of its three-month average daily volume of 58.7 million.
Shanghai-based SINA Corporation (SINA), operator of SINA.com and social media platform Weibo, has gained 2.7% to $70.16. The company has been falling over February after Chinese government agency CNNIC disclosed a 9% fall in Weibo's user base over 2013 to 281 million. Since the beginning of the year, the stock is down 16.8%.
LinkedIn (LNKD) has remained fairly stable over the session, adding 0.56% to $193.41. The company plummeted last week after conservative full-year guidance disappointed investors.FB data by YCharts
TheStreet Ratings team rates FACEBOOK INC as a Hold with a ratings score of C. The team has this to say about their recommendation:
"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."