New York (December 19th, 2012) - Facebook Inc. (NASDAQ: FB), the social networking giant, is marginally higher in mid-day trading today, extending its gains for the week. At last check, FB was trading 0.69% higher at $27.90 on volume of 24.93 million, which is a third of the daily average volume of 74.60 million. FB has gained nearly 4% this week.
FB is gaining today after Evercore Partners analyst Ken Sena reiterated his Equal Weight rating on the stock. Sena, however, raised his price target on FB from $25 to $32 due to higher earnings estimates. The analyst raised his fourth-quarter revenue outlook by 4%.
Although FB has edged higher, the stock continues to struggle to break through $28 resistance level. The stock crossed this level in trading earlier today, however, failed to maintain its gains.
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YPF (ADR) (NYSE: YPF), an Argentina-based integrated oil and gas company, is down sharply in mid-day trading today. At last check, YPF was down 5% to $15.02 on volume of 969,736, which is above the daily average volume of 872,257. The sharp decline today brings to an end a five-day winning streak for YPF.
YPF had rallied in the previous five trading sessions, gaining nearly 26%, on venture hopes. However, the stock has slipped in trading today even as the company sold medium-term local bonds equivalent to $734 million.
YPF is now trading well above its 50-day and 200-day moving averages, which is a bullish signal. Technical indicators suggest that the stock could post further gains.