Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:
Facebook's Changing Fortunes [Business Week]
Summary: Word is that where a couple of months ago, college social networking site Facebook could have fetched nearly a billion dollars from companies like Yahoo and Viacom who had expressed serious interest in the company, maverick CEO Mark Zuckerberg may have missed out on the big bucks - at least for now. Zuckerberg (pictured), a 22 year old Harvard dropout insisted on a sales price of $2 billion - a price none of Facebook's suitors were willing to meet. Now, with possibly declining traffic and the always elusive 'cool factor' among the college-age crowd, companies who were interested are holding out and waiting to see if they can grab Facebook at a lower price. Zuckerberg is unperturbed. According to Facebook Marketing Director Melanie Deitch, the company is "focused on building the business. We're doing extremely well and we're having fun."
Related links: Why the Facebook /Yahoo Deal Won't Happen So Soon • Facebook Acquisition Not a Panacea for Yahoo • Value of Facebook vs. YouTube • Why Facebook's Even More Attractive Than YouTube • Yahoo in Talks to Acquire Facebook • Is $1 Billion a Fair Price For Facebook ? • Yahoo's Facebook Talks Hit Snags
Potentially impacted stocks and ETFs: Yahoo (YHOO), Viacom (NYSE:VIA), Google (NASDAQ:GOOG)
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