Facebook and Starbucks Tumble in Premarket Trading

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By Trey Thoelcke Published
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Shares of Facebook Inc. (NASDAQ: FB) have tumbled about 12% in premarket trading. The social media giant said late Thursday that its second-quarter revenue rose 32% to $1.2 billion, but the company failed to provide a forecast for the current period or the full year in its first earnings report as a public company. Concerns remain over how the company plans to generate significant revenue from mobile products.

Zynga Inc. (NASDAQ: ZNGA) and Groupon Inc. (NASDAQ: GRPN) are likewise down in premarket trading.

Also getting crushed this morning is Starbucks Corp. (NASDAQ: SBUX). Shares are down more than 10% premarket after it forecast a fourth-quarter profit that fell short of consensus estimates. The world’s largest coffee-shop chain has seen consumers pull back around the globe. Starbucks said it may begin closing some unprofitable stores in Europe in the current quarter.

In premarket trading, Facebook is trading near $23.45, in a previous 52-week range of $25.52 to $45.00. Starbucks is down to $47.08, in a 52-week range of $33.72 to $62.00.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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