Facebook (FB) Gains as AdParlor Says Earlier Data was Unauthorized and Inaccurate
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Price: $196.64 --0%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
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Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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(Updated - April 13, 2016 3:46 PM EDT)
Facebook (NASDAQ: FB) moved higher into the close as AdParlor said negative data about Q1 ad trends, given earlier on an analysts' call, was unauthorized and inaccurate and was taken out of context, according to Bloomberg News.
AdParlor said a junior-level employee spoke out of turn and failed to give proper context on media spending. They said game developers are still buying app install ads on Facebook but not working with AdParlor to do so. They also note seasonal ad spending adjustment between Q4 and Q1.
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