Facebook Inc (NASDAQ:FB) shares appear to be a great deal more comfortable at current levels after a steady post-IPO decline.
(Unfortunately, the words of The Telegraph's Media, Telecoms and Technology Editor Katherine Rushton, uttered shortly ahead of the IPO, will live on in infamy: "I would expect that the share price is going to climb quite substantially and probably stay at quite a good level for a few years").
No doubt, investors in the stock will be hoping that the latest ComScore analysis will restore confidence in the company's business model.
Research from ComScore notes that marketing on Facebook influences consumer behaviour and leads to increased purchases for the brands that leverage the social-networking site.
"The Power of Like 2: How Social Media Works," looks at paid advertising on Facebook as well as earned media exposure - meaning mentions of the brand made by Facebook users in status updates and the like.
Facebook said the research shows that 70% of ad campaigns will get advertisers a return three times what they put in, and in nearly half of all campaigns, Facebook ads get companies $5 for every $1.
WPP Acquistion in Singapore
Elsewhere, we see advertising gain WPP Plc WPP said its wholly-owned operating company JWT Singapore has agreed to acquire a majority stake in Hungama Digital Services Private Limited.
The investment looks to continue WPP's strategy of developing its network in fast-growing and important markets and sectors.
Today's market highlights
The euro zone is preparing for negotiations with Greece over a loosening of its cost-cutting program, German daily Financial Times Deutschland reported Wednesday, citing unnamed EU officials. This step is necessary to keep Greece in the euro zone, regardless of the outcome of this weekend's elections, the newspaper said.
Spain's benchmark borrowing costs climbed to a record yesterday, raising the spectre of sovereign bailouts for the government in Madrid and then Italy would stretch European Union finances to their limit.