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Thursday, Jun 14, 2012 9:15 PM UTC

Facebook stock closes nearly 4 percent higher

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Topics: From the Wires,

NEW YORK (AP) — Facebook’s stock is regaining some ground nearly a month after its rocky initial public offering.

The stock gained $1.02, or 3.7 percent, to close Thursday at $28.29. That’s still down nearly 26 percent from Facebook’s IPO price of $38. Facebook began trading on the Nasdaq on May 18.

Investors are concerned about its ability to keep increasing revenue and make money from its growing mobile audience, though many analysts hold positive long-term opinions.

Also on Thursday, a federal judge in Texas rejected a legal challenge to Facebook and leading investment banks over the IPO. A disgruntled shareholder had wanted the court to order depositions from Facebook’s executives to find out if he had a case against the company. Facebook says it is pleased with the court’s decision.

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Gripping photos: The people of the Turkey protests (slideshow)

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  • The protests take on a festive element as police forces move out of the park and square. Wearing a gas mask, this young man dances to traditional Turkish music in front of Taksim Square’s Ataturk Monument.

  • In Gezi Park since March 31st, this protester, originally caught off-guard by the Government’s teargas and water cannons, went out and bought a Russian army mask from WWII, preparing for what was to come.

  • This rambunctious boy seems to be enjoying the chaos. After taking this picture he threw a stone at the already destroyed building in the background.

  • Forming a line, the police face off directly with protesters in Taksim Square. After a while, they retreated and there was a general cheer – a back-and-forth dance that has been common since the beginning of this protest.

  • An elderly woman in Gezi Park reads the news. The tent community occupying the park was violently destroyed on June 16th.

  • Many different groups had set up booths to promote their cause in Taksim Square and Gezi Park. Standing in front of one, this man waves his flag while posing with conviction.

  • Many home-remedies are used to minimize the effects of tear gas. This woman has put a milky solution on her face, removing her mask after the tear gas dissipated. Before sunrise, the police came again for another round of teargasing.

  • People capitalize on the uprising -- selling flags, beer, gas masks, sky lanterns and spray paint to name just a few of the popular items.

  • On Monday morning, June 11, the police execute a strong offensive. Many plain-clothed police officers, like the ones seen here, clash with protesters in the side streets away from the main stand-off in Taksim.

  • The authorities seem to be most aggressive in the night, pushing protesters away from the square and park. After being teargassed this young woman catches her breath with other protesters on Siraselviler Street.

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