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Facebook Inc (NASDAQ:FB) fell to new all-time lows following BMO Capital analyst Daniel Salmon’s statement that many advertisers seem to be lowering the amount of money they have been spending on the website. Two out of three advertisers that were contacted by Salmon revealed negative information regarding the stock, the analyst wrote. Salmon, who cut his price target on Facebook shares to $15 from $25, predicted that Facebook could face difficulty in raising its revenue by over 4 percent during the current quarter. As a result, the stock will probably retreat after the company reports his Q3 results, stated the analyst, and he reiterated an Underperform rating on the shares. Facebook dropped 75c, or 3.92 percent, to $18.34 during early trading. The shares closed at $18.06, down $1.03 or 5.4% on the day. They have traded in a 52-week range of $18.75 to $45.00.
Acorn International (NYSE:ATV) sees an FY12 net loss of $14 million to $16 million. Acorn stated, “Due to lower-than-anticipated performance in the first half of 2012 and the overall macro-economic environment in China, the Company is revising its guidance.” The shares closed at $2.83, down $0.1 or 3.41% on the day. They have traded in a 52-week range of $2.72 to $5.12.
Digital Domain Media (NYSE:DDMG) reaffirmed its usual practice not to comment in regards to unusual market activity. However, the company thinks it is necessary to inform its investors that the 400,000-share trade that was posted at 11:16:42 EDT yesterday was an erroneous trade and afterward, was removed from the tape at 13:28:16. The 391,500-share trade that was posted at 11:59:56 was an accurate trade. The shares closed at $2.07, down $0.24 or 10.39% on the day. They have traded in a 52-week range of $2.22 to $9.20.
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