Facebook dispelled fears Tuesday that its mobile advertising business was failing.
The social network reported that its third-quarter revenue from mobile ads jumped 14% last quarter to $150 million. Wall Street was expecting an increase of 5%. Facebook stock rose sharply after the earnings report, surging as much as 12% in after-hours trading. The rally continued Wednesday morning with the stock up as much as 21% , its biggest gain in 5-months.
The final presidential debate last night was more memorable for what wasn't said than what was. Billed as a debate on foreign policy, moderator Bob Schieffer concentrated his questions on Middle East policy, specifically Afghanistan and Iran. But the candidates managed a way to steer the conversation toward the domestic economy, the focus of the first two debates.
One of the most important issues in this year's election is energy.
Our ongoing addiction to Mideast oil leaves us dependent on countries that are often unstable and hostile. Developing our own domestic energy resources and investing in renewable energy lessens this dependence. It also has the potential to create jobs and improve our trade deficit.
A little more than a year ago, Netflix was the darling of the stock market. The stock were priced near $300 and its subscriptions were growing at 3 million per quarter. That all changed in July 2011 when the company announced a new pricing structure that replaced the $9.99 monthly fee for DVDs and streaming video with a new fee of $15.98. Subscribers could pay $7.99 a month for just streaming video or DVDs by mail, but those who wanted both would pay 60% more.
The third and final presidential debate of 2012 takes place tonight at 9 pm ET. The topic is foreign policy.
Libya, Afghanistan, Iraq and, of course, Iran's obvious efforts to produce nuclear weaponry will all be addressed. Also on the agenda will be military budgets and the creation of what seems to be a drone army the U.S. is using to hunt terrorists. While these are critical to our long-term national security, they are also thorny, complicated matters on which the two men share many of the same views.
Last week was a bust for tech stocks. Google shares fell more than 8% following a disappointing earnings report accidentally released four hours early. Microsoft also reported disappointing earnings, and its stock ended the week about 2% lower.
Foodborne illnesses kill 3,000 Americans each year. Nearly 130,000 more are hospitalized. The aggregate cost of foodborne illnesses to the U.S. economy in 2011 was $77.7 billion.
These are staggering numbers, and they're on the rise. The FDA had 37 recalls of fruits and vegetables in 2011, up from just two in 2005. Between 2006 and 2010 the rate of foodborne salmonella rose 10%.