Stocks, Ipo | featured news

Shares of Pinnacle Foods Inc (PF.N), owner of the Birds Eye and Duncan Hines brands, rose 13.7 percent in their New York Stock Exchange debut on Thursday. The stock was trading at $22.73 after the company backed by Blackstone Group LP (BX.N) raised $580 million in its initial public offering.

Nasdaq OMX and SharesPost will join to create a new exchange that will allow accredited investors to buy private-company shares. The move reflects the competition and new landscape these market-makers face--particularly whether interest in pre-IPO stocks will fade now that Facebook shares trade publicly.

The stock market operates in mysterious ways. Yelp shares are actually trading sharply higher this morning, despite the expiration of the company's post-IPO lock-up period. As I noted earlier, the stock had lost about a third of its value in anticipation of today's event; for reasons that are not entirely clear, the stock has responded to the news with a major rally.

Facebook’s stock price reached a new low Thursday as shares of the world's largest social network fell below $20 for the first time, down by nearly half from its $38 initial public offering price.

It’s been over three weeks since Facebook launched its $16 billion IPO, and as you’ve heard by now, it’s belly flopping on the NASDAQ. Wall Street and Silicon Valley VCs are in an uproar over the company's 30-percent stock decline and $25 share value, with some shareholders already looking to recoup their loses by suing CEO Mark Zuckerberg for withholding info on the company’s true value during its public outing.

UBS is sitting on losses that could be as high as $350 million stemming from its investment in the Facebook initial public offering, and is preparing legal action against Nasdaq as a result, people familiar with the matter told CNBC.

Facebook's stock has fallen below $30 for the first time since its much-awaited public debut this month.

Independent analysts have issued price targets ranging from below $25 a share to nearly $50, while bloggers, day traders and others have trotted out valuations that pin Facebook as low as $6 a share. At $38 a pop, nobody liked Facebook.

The fallout from Facebook Inc's messy initial public offering widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek "remedies."

Facebook on Thursday priced its initial public offering at $38 per share. The social networking company, which is expected to go public tomorrow under the ticker symbol "FB," stands to reap $18.4 billion in the IPO.