Facebook Rises on Report of Mobile-Ad Gains: San Francisco Mover
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Facebook Inc., owner of a social network used by more than 1 billion people, rose more than 2 percent after a research report said the company is showing signs of success in a push to make money from mobile users.
The company is “further along in monetizing mobile advertising” than is generally believed, according to Martin Pyykkonen, an analyst at Wedge Partners Corp. The stock advanced to $19.88 at the close in New York. Facebook has fallen 48 percent since its May 17 initial public offering.