Facebook shares drop again as SEC, FINRA call for review

(Reuters) - Facebook's shares fell sharply again on Tuesday and two top U.S. financial regulators called for a review of the circumstances surrounding its troubled initial public offering last week. The separate calls for review, by Securities and Exchange Commission Chairman Mary Schapiro and FINRA Chairman Rick Ketchum, added pressure on the company, its underwriters and the Nasdaq, all of which have taken blame for the stock's harried opening and subsequent sharp decline. After Friday's nearly flat close and Monday's 11 percent plunge, Facebook shares were down 5.9 percent at $32. ...

Facebook drops again as pressure to perform mounts

(Reuters) - Facebook's shares fell again on Tuesday, leaving them down more than a quarter from Friday's highs as questions mounted over the company's financial prospects and its ability to grow fast enough to live up to the hype surrounding its stock. After Friday's nearly flat close and Monday's 11 percent plunge, the stock dropped as much as 9 percent in early trading on Tuesday before reversing some of the decline. Facebook shares were down 4 percent at $32.70 just after midday. Volume was again heavy, with more than 66 million shares traded. ...

Germany, France draw battle lines over common bonds

BERLIN/PARIS (Reuters) - Germany dismissed a French-led call for euro zone governments to issue common bonds, a day before a European Union summit which investors are looking to for new measures to counter the bloc's debt crisis. After a torrid week, stock markets rallied on optimism that the Wednesday summit would produce measures to foster growth and ward off the threat of contagion should Greece exit the euro. The FTSEurofirst 300 index of top European shares closed up 1.9 percent and Spanish and Italian borrowing costs fell, leaving scope for disappointment if the EU leaders underwhelm. ...