May 22 - In the run-up to the Facebook IPO, a Morgan Stanley internet analyst cut forecasts for the company.
Based -- do you close like -- the fast lane and possible housing improvement here's your morning call this Tuesday FaceBook stock troubles started at least a few days before it went public lead underwriter Morgan Stanley told major clients during the -- show me. That is an analyst was reducing its revenue forecast for FaceBook. That according to investors who are advised of those low expectations. -- think move higher and mutual funds it may have contributed to the weak performance of the shares. FaceBook right now trading near its Monday close at 3403. Well below its thirty dollar offer price. At least one source sees the negative tide turning -- Tim Murphy -- this group which transmits and tracks equity trade ideas. From hundreds of brokerages to institutional clients. He said 62% of the ideas on FaceBook now have a long -- indicating thumbs in opportunity here. The nasdaq's still trying to clear up the match that in suit from the first day of FaceBook trading. Sources say Morgan Stanley fidelity and others still have -- orders from Friday that would not resolved. Get CC and figure out among the groups looking at that is. NASDAQ saying it's set aside thirteen million dollars for costs related to the issues that's just a fraction of its 387. Million dollars in net income. Shares of NASDAQ rebounding Monday after falling Friday. In other deal news asset managers hitting that track out looking for a place Tuesday at black rock had. What Dell -- among a group of investors by a one point six billion dollars stake in the motor racing company Formula One from private equity owners CBC capital. Well black. Notifying motels and other US chains. From France has -- or 41 point nine billion dollars. And on the economic front today existing home sales Thomson Reuters I have part market that had less optimistic. That economists from the Reuters -- looking for gain in April to an annual rate of four point 55 million below the four point six million consensus. I arcing the pace of sales is strong enough to keep the inventory of unsold homes declining. After accounting for seasonal factors though it notes that hasn't. In any significant impact from the recently announced mortgage settlement the banks. That reports out at 10 AM that's your morning -- this Tuesday I'm Rhonda -- this is writers on here.