Facebook Stock Rides a Turnaround

Julian Robertson's Tiger Management has filed its latest 13F regulatory filing with the Securities and Exchange Commission.  During the first quarter ended March 31st, Tiger Management dumped the rest of its stake in Apple, the filing shows.

Stocks started the day at an all-time high and only rocketed higher. First the scoreboard: Dow: 15,215, +123.5 pts, +0.8%S&P 500: 1,650, +16.5 pts, +1.0%NASDAQ: 3,462, +23.8 pts, +0.6% And now the top stories:

Legendary investor Howard Marks of Oaktree Capital Management thinks value investors need to pay attention to the macro environment.

Shares of Facebook Inc jumped as much as 11.2% on Wednesday, even as the biggest block of shares held by insiders became eligible for sale for the first time since the social media company’s disappointing debut in May

From the very start of market maker implied stock price forecasts for Facebook (FB) on May 29 to the present time three months later (Aug. 28), expectations have held to an unusually tight format. Early on, the market pros protected themselves against a pattern of twice as much upside prospect as likely downside exposure. Then their forecast range was from a low of $26 to a high of $34.63. From an end-of-day price of $28.84, it was an upside of +20% to a downside of -10%.

Andrew Wilkinson submits: CTrip.com International, Ltd. (CTRP) – Shares of the consolidator of hotel accommodations and airline tickets in China fell as much as 17.65% during the first half of the trading session to touch down at an intraday low of $31.35.

By Helix Investment Management:Few sectors are as alluring to invest in as the social media and networking sector. However, it is important to keep fundamentals in mind. Many of the IPO's in this sector, especially that of Facebook (FB), serve as a stark reminder that fundamentals and valuations should not be ignored in long-term investment planning and selection.