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5/21/2013, 8:45 PM ET

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Monday, May 20, 12:15 PM Facebook (FB -2.1%) slides after Yahoo (YHOO +1.3%) confirms it's buying social blogging leader Tumblr, which (like Twitter) is arguably a threat to Facebook's engagement levels. In spite of its focus on personal networks, Facebook has been trying to encroach on Tumblr's turf via its support for "public" posts that can be followed by anyone. However, uptake has largely been driven by media figures, rather than regular users. In paying $1.1B for Tumblr, Yahoo is betting the platform's social features and network effects will let it become the Twitter of longer-form material. If this happens, and Tumblr isn't simply viewed as another blogging platform, the price tag could look cheap. (previous) Comment! [Tech, On the Move, M&A]
Thursday, May 16, 11:45 AM Facebook (FB -1.5%) is down 3.6% over the last 2 days, possibly thanks to concerns about a revamped Google+. The latest update to Google's (GOOG) oft-mocked social networking platform brings a card-based UI and (more importantly) heavy use of Google's server farms to automatically enhance/modify images and add tags and links to uploaded content. The imaging tricks include the ability to automatically create animated GIFs and HDR shots, and even adjust skin tone and contrast - some think this also poses a challenge to Adobe (ADBE). But Facebook, the 800-lb. gorilla of online photo-sharing, still has unmatched network effects, and has been willing to borrow ideas from Google+ Comment! [Tech]
Monday, May 13, 8:15 PM Facebook (FB) roundup: 1) Calcalist reports Facebook's buyout talks with Waze have stalled over Waze's insistence on maintaining its Israeli R&D center and keeping all its employees in the country (translation). 2) Another executive departure: Larry Yu, Facebook's PR chief for the last 5 years, is leaving to join a startup. 3) It's not exactly House of Cards, but Facebook is ramping its investment in its Facebook Live original programming series; Live typically features celebrity interviews and instructional videos. 4) BGR reports AT&T is planning to discontinue the HTC First (the closest we've gotten to a Facebook phone) less than a month after its launch. The First's ho-hum specs could be a factor, but chances are Facebook Home's underwhelming debut is as well. 6 Comments [Tech, M&A]
Saturday, May 11, 6:31 PM With bad user reviews piling up, Facebook Home (FB) has fallen out of App Annie's top-100 Google Play download lists for every covered market. Nonetheless, those who have downloaded Home are spending 25% more time using Facebook than before, giving Mark Zuckerberg & Co. a big incentive to right the ship. Updates will soon bring back two Android staples - an app dock and folder support - but there's no word on when a third (widgets) whose absence has sparked many complaints will arrive. Meanwhile, Home now supports Samsung's Galaxy S4, and AT&T has cut the price of the HTC First to a subsidized $0.99. (previous) 8 Comments [Tech]
Friday, May 10, 4:59 PM Facebook (FB) is partnering with Nokia (NOK) to offer free access to Facebook services (provided carriers support it) to buyers of the new $99 Asha 501, which is aimed at emerging markets. The deal helps the 501 better compete against low-end Android competition, and extends Facebook's efforts to grow its emerging markets base by offering free/discounted access. 44M of the 54M monthly users Facebook added in Q1 came from outside of North America or Europe, and many were likely mobile-only. Monetizing these users remains a challenge. 9 Comments [Tech]
Thursday, May 9, 5:40 PM Facebook (FB) roundup: 1) AllThingsD backs up reports Facebook is in talks to buy Waze for $1B. Waze would bolster Facebook's efforts to become a go-to source for local content (and push local ads along the way), and Facebook's reach could greatly increase the value of Waze's crowdsourced map/traffic data. 2) Facebook Home surpasses 1M downloads ahead of an update. But its user rating remains 2.2/5, as users keep griping over a lack of widget/folder support. 3) Leon Cooperman pounds the table for Facebook. "People underestimate the mobility opportunity that exists ... we think they could achieve a market cap comparable to a Google." 5 Comments [Tech]
Thursday, May 9, 5:23 AM Facebook (FB) reportedly engages in advanced talks to buy Israeli start-up Waze for between $800M and $1B. The company, which generates maps and traffic data by tapping into users' smartphones via satellite signals, partnered with FB last year on a version of the product which allows members to share data with their friends on the social network. (Reuters, Calcalist) Comment! [Tech, M&A]
Wednesday, May 8, 6:44 PM Facebook (FB) engineering director Josh Wiseman has left the company to "work on a more tangible social problem." A 6-year vet, Wiseman was the engineering manager for many big projects over the years, including Photos, Video, Pages, Groups, and Chat. Facebook has seen a number of high-profile execs leave since its IPO 12 months - accounting chief David Spillane and product management chief Blake Ross are two of the more recent ones. But the company has also made some high-profile hirings (I, II). 2 Comments [Tech]
Tuesday, May 7, 4:01 PM Facebook (FB -2.5%) roundup: 1) Facebook has hired ad industry vet Nicola Mendelsohn to be its EMEA VP. Her predecessor, Joanna Shields, left last October. Among the challenges Mendelsohn faces: raising an EMEA ARPU that's still well below North American levels, and ramping mobile ad sales as European smartphone penetration starts approaching U.S. levels. 2) Facebook has 3 of the top 5 most popular free apps on Google Play, per Distimo: the core Facebook app is #1, Messenger is #4, and Instagram is #5. Messenger rival WhatsApp (previous) is #2, and also has the top paid app in the iOS App Store. Comment! [Tech]
Monday, May 6, 11:23 AM The TD Ameritrade Investor Sentiment Index rose 0.23 points in March to 5.37, the 4th highest point in its 3-year history, and the best level since June 2011. Customers rotated out of outperforming names like DELL, PG, and HPQ, and into laggards like BIDU and FB.
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Monday, May 6, 9:58 AM Facebook (FB -1.5%) underperforms after Barron's argues once again the social networking giant is overvalued. However, this time, they're suggesting a valuation of ~$25/share, whereas last September (when Facebook was near its lows), the paper argued $15/share. Slumping PC ad sales, heavy spending, ad quality issues, and a valuation of 50x 2013E EPS are some of its reasons. While Google tries to innovate, "Facebook seems more focused on barraging subscribers with ads to meet Street profit expectations," says Barron's. Mark Zuckerberg would likely beg to differ. 2 Comments [Tech]
Friday, May 3, 12:50 PM Facebook (FB -2.1%) roundup: 1) Pivotal Research thinks Q1 results indicate Facebook's FBX ad targeting platform (thus far limited to PCs) is growing slower than hoped. The firm adds some of FBX's top ad agency clients are growing slower than expected. 2) Nielsen estimates U.S. visitors to Facebook's site fell 11M Y/Y in March to 142M. Facebook estimates its North American MAUs (inc. app users) rose 12M Y/Y in Q1 to 195M, but only 2M Q/Q. 52M users were added Q/Q in other markets. 3) Facebook ads can now be sent based on a user's app installs and in-app purchases. 4) Instagram has added a photo-tagging feature; AllThingsD thinks brands could make use of it. Shares seem to be selling off today in sympathy with LinkedIn. Comment! [Tech, On the Move]
Thursday, May 2, 9:56 AM Facebook (FB +2.8%) rallies as the Street decides its Q1 mobile strength is more important than PC softness. Goldman (Buy), whose pre-earnings views were vindicated: "We see significant opportunity for FB to drive higher pricing on its ad units ... Our field conversations suggest the momentum around FBX, custom audiences, upcoming video ads, etc. is just getting started." Evercore and Jefferies both point out engagement (long a concern) improved. An AllThingsD chart tracks Facebook's MAU growth rates for the last 4 quarters: they're declining, but at a relatively slow pace. (previous) (transcript) 2 Comments [Tech, On the Move]
Wednesday, May 1, 6:19 PM Facebook's (FB) ad impressions and prices respectively rose 39% and 3% Y/Y in Q1, Sheryl Sandberg states on the CC; given the success of Sponsored Stories and the FBX Exchange, the price growth seems light (mobile a likely reason). Still, Y/Y ad rev. growth was higher in Q1 than in any 2012 quarter, thanks partly to demand for app install ads (used by 3.8K developers to drive ~25M downloads). Payments revenue rose Q/Q after adjusting for an extra month in Q4, and Facebook claims record gaming activity (good for ZNGA). PC ad revenue was flat Y/Y. Mark Zuckerberg hints Instagram will soon be monetized. (live blogs: I, II) (previous) 3 Comments [Tech]
Wednesday, May 1, 5:40 PM Facebook's (FB) Q1 global ARPU was $1.15, -11% Q/Q (seasonality) and +15% Y/Y, the company discloses in its earnings slides. ARPU fell less Q/Q overseas than in North America (-14%), with Asia down less than 2%, a sign of progress for international monetization. But even after adjusting for income levels, much work still needs to be done: North America ARPU was $2.85, Europe $1.38, Asia $0.57, and other markets $0.48. Also: mobile-only monthly active users (MAUs) rose 20% Q/Q and 128% Y/Y to 189M, making up 17% of total MAUs. FB +0.3% AH, as investors balance surging mobile ad sales with PC weakness. Comment! [Tech, Earnings]
Wednesday, May 1, 4:46 PM In tandem with its Q1 report, Facebook (FB) discloses Chief Accounting Officer David Spillane is resigning. No explanation is given for his departure. Revenue controller Jas Athwal will be Facebook's new accounting chief, effective May 10. Shares +0.4% AH. (8-K) Comment! [Tech]

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