Facebook Officially Turns Off Privacy Setting and 2 Other Hot Stocks to Watch
Facebook (NASDAQ:FB): Current price $49.70
Facebook said Thursday that it is officially removing a privacy setting that let users conceal their profiles from others in Facebook’s search field. Persons who were not using the feature in December of 2012 had already lost the setting “who can look up my timeline by name.” Facebook’s explanation was that the tool was outdated, since users could be found in other ways, like clicking on their name in a mutual friend’s Timeline or News Feed.
Micron Technology Inc. (NASDAQ:MU): Current price $17.06
Micron shares are down almost 6 percent Friday in very heavy volume, one day after the company swung to quarterly profit, thanks to one-time gains of Elpida Memory. Analyst Betsy Van Hees at Wedbush wrote to clients in a note that while Micron’s fiscal fourth-quarter revenue “soared past expectations, GAAP earnings excluding the one-time gain from Elpida fell short, as much of the Street didn’t account for the impact from purchase accounting.”
Wells Fargo & Co. (NYSE:WFC): Current price $41.37
In the third quarter, Wells Fargo’s profit increased by a higher-than-anticipated 13 percent while the number-one domestic mortgage lender compensated for a slump in that business by releasing a large amount of money it had reserved for bad loans. Home refinancing, which had elevated profits at Wells Fargo in the last few quarters, slowed as expected, and several of its 89 other businesses did not improve sufficiently to make up the deficit.