On Wednesday, Shares of Facebook, Inc. (NASDAQ:FB), gained 0.61% to $94.19.
Facebook on Tuesday unveiled new ad offerings both for its own platform and for its third-party ad network. According to Fortune The biggest newcomer in Facebook’s Audience Network is native video. The firm stated on Tuesday that the same auto-playing native video ads found on Facebook will now be made accessible to partner publishers and inside other apps. Videos are among the most lucrative online ad formats right now, so it’s no surprise Facebook is bolstering its offerings here. Facebook is also adding click-to-play formats (useful for games), carousel ads (for showing several images in one ad), and Dynamic Product Ads to its interstitial ad options.
Facebook Inc (NASDAQ:FB) belongs to Technology sector. Its net profit margin is 28.30% and weekly performance is -0.47%. On last trading day company shares ended up $93.62. Facebook Inc (NASDAQ:FB) distance from 50-day simple moving average (SMA50) is 5.77%.
Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications.
Shares of Whiting Petroleum Corp. (NYSE:WLL), inclined 2.92% to $20.08, during its last trading session, as Crude oil prices stabilized on Wednesday after falling more than 4 percent on Tuesday to reach $43.28 a barrel, their lowest price since March 2009. OPEC oil production reached a three-year high in July.
OPEC, whose members are responsible for 40 percent of the world’s oil supply, has refused to lower output in response to falling prices and raised it in July to 31.5 million barrels a day, the highest level since May 2012, Market Watch stated.
The World Bank warned on Monday that the influx of one million barrels of Iranian oil into the global oil supply will lower the price of U.S. oil by a further $10 by the end of the year.
The International Energy Agency (IEA) said the fall in oil prices has encouraged demand in the oil market. However, the IEA said on Wednesday that: “While a rebalancing has clearly begun, the process is likely to be prolonged as a supply overhang is predictable to persist through 2016—suggesting global inventories will pile up further,” according to Reuters.
Whiting Petroleum Corporation, an independent oil and gas company, acquires, explores, develops, and produces crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States.
Finally, Cabot Oil & Gas Corporation (NYSE:COG), ended its last trade with 3.64% gain, and closed at $27.02, as Oil prices edged up from six-year lows on Wednesday (Aug 12) as US oil supplies declined and the dollar retreated.
US benchmark West Texas Intermediate for September delivery rose 22 cents to US$43.30 a barrel on the New York Mercantile Exchange. The US contract on Tuesday closed at the lowest level since March 2009. European benchmark Brent oil for September delivery gained 48 cents to US$49.66 a barrel in London.
Oil prices also received support from a retreat in the dollar on Wednesday as China’s move to devalue its currency against the greenback sparked speculation the US Federal Reserve will move more slowly to hike interest rates.
A cheaper dollar lifts demand outside the US for crude oil, which is traded in the US currency on international markets.
Cabot Oil & Gas Corporation, an independent oil and gas company, develops, exploits, explores for, produces, and markets natural gas, oil, and natural gas liquids in the United States.
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