Wall Street

The business of a social networking giant Facebook is growing much faster than expected several months ago and according to the Wall Street Journal report the company is about to reach $2 billion in earnings before interest, taxes, depreciation and amortization in 2011.

Analysts expected slower growth for Facebook when Goldman Sachs and Digital Sky Technologies invested in the social networking company. Goldman's and Digital Sky Technologies' investment was at a share price that implied a $50 billion valuation for Facebook.

Reuters/IFR conducted a global poll of bankers which revealed that from Wall Street to the City of London to Hong Kong's Central District, bankers are bracing for bonuses to be down 7 percent on average from a year ago, and higher salaries will only partially cushion the hit.

A number of the industry experts expect 30% decline after weak trading results that are depressing bank profits and shrinking the bonus pool.

Bankers are known to rely heavily on year-end bonuses for a large portion of their yearly compensation.

More IT professionals are today needed by financial services companies on Wall Street. The firms are looking for strong programming, database and operating system skills to keep their real-time banking and trading systems up and running.

 Another case ended with the victory of Securities and Exchange Commission. This time the SEC has accused one of the largest computer-making company Dell. It was announced that on Thursday several former executives of Dell, and its founder, Michael S. have agreed to pay more than $100 million in penalties.  

European stocks markets rose modestly today as speculation of a pickup in corporate dealmaking helped offset earlier losses in Asia while Wall Street was to remain closed for the Martin Luther King public holiday.
With Wall Street closed later to commemorate the life of the civil rights leader and economic news limited, investors think the rest of the session will prove to be lackluster.
When Wall Street returns on Tuesday, the focus will turn towards the next batch of fourth quarter corporate earnings figures, including those from Citigroup Inc. and IBM Corp.

Stocks fell in morning trading today after Alcoa disappointed Wall Street as it kicked off earnings season.
Overseas markets also mostly fell, reacting to China tightening its monetary policy and boosting bank reserve requirements, in addition to the worse-than-expected results from the world's biggest aluminum producer.
As one of the first companies in the Standard & Poor's 500 index to report quarterly results, Alcoa's earnings are often seen as a barometer for how companies will fare.

Stock futures are rising, pointing to a higher opening Monday, following strong gains in overseas markets.
Stocks are getting a lift globally after a new report showed Chinese exports jumped by nearly 18 percent in December. The bigger-than-expected increase follows 13 straight months of declines. The increase in exports has added confidence to investors who believe a global economic rebound is well under way.

U.S. stocks rose on Wednesday after a private-sector employment report showed an improvement from October and the S&P pushed through a key technical level.
U.S. private employers shed 169,000 jobs in November, fewer than 195,000 in October, but worse than forecasts for a decline of 155,000 jobs, according to the ADP National Employment private sector survey.
Gains on Wall Street accelerated after the S&P 500 punched through the 1,111 mark, which it has been unable to maintain in recent sessions.

 In a recent interview to a media edition Warren Buffett, CEO of Berkshire Hathaway Inc., noted that while the economy of the United States in no longer in the "emergency room," a full recovery isn't imminent.

 The Obama administration’s moves to rein in executive pay sparked criticism on Wall Street, as lenders such as Bank of America Corp. said the measures may hurt the very companies the U.S. is intent on saving. 

 After spending more than a year in Wall Street's doghouse, eBay Inc. has managed to win back favor from investors and analysts in recent weeks, as data has shown improvements in the company's core online auctions business. 

Such is apparent when looking at recent ratings changes on the company. During the last month, five analysts have upgraded their rating on eBay to buy. Several others have bumped up their price targets on the stock.