Morgan Stanley Lowered Estimates On Facebook Ahead of IPO

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Facebook's ( FB ) IPO issues have been widely reported with Nasdaq ( NDAQ ) taking a fair amount of the blame so far. But now, investors are blaming lead underwriter Morgan Stanley ( MS ) for raising the price and allocation while at the same time, Scott Devitt, the bank's Internet analyst was lowering his revenue estimates for the company, Reuters reported.

Facebook continues to be weak given the onslaught of bad news and valuation which many have determined to be rich. FB is trading below 33 premarket.

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This article appears in: investing , Stocks

Referenced Stocks: FB , MS , NDAQ

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