News Summary: Stocks gain for fourth straight week
Posted at: 05/17/2013 3:36 PM
THE FUTURE IS BRIGHT: Positive reports on leading economic indicators and consumer confidence gave the stock market a boost on Friday, helping stocks to their fourth consecutive week of gains. ONE YEAR ON: On the anniversary of its much-hyped initial public offering, Facebook edged higher to close up 12 cents, or 0.5 percent, at $26.25. That’s still more than 30 percent below its IPO price of $38. HOW IT’S DONE: Tableau Software showed Facebook how it’s done, surging $19.75, or 64 percent, to $50.75 on its market debut. The company raised $254 million for its stock sale.
By The Associated Press
(Copyright 2013 by The Associated Press. All Rights Reserved.)
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