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RICHARD MEADOWS

The New Zealand sharemarket rose today, following offshore leads across the Tasman and in Asia to shrug off the latest round of bad news out of Europe.

The NZX50 index rose 0.46 per cent, or 16.04 points, to 3,478.29. Within the index, 16 stocks rose and 19 fell. Fisher & Paykel Appliances led gainers, and Rakon fell.

First NZ Capital head of institutional equities James Lee said the Australian market had performed strongly and the wider Asia region was also on the rise.

"We've seen some of the leaders in Aussies turn around from being down one per cent to being up half a per cent, and New Zealand's just followed suit", he said.

The Hong Kong Hang Seng exchange closed 158.87 points higher, or 0.85 per cent, while the Japanese Nikkei was recently up 0.65 per cent.

There was no trading in the United States overnight due to the observation of Memorial Day. However, news that the heavily indebted Spanish government planned to effectively nationalise its third largest lender failed to put a damper on local markets.

"It didn't really affect US/European markets last night either- that'd be the key thing", Lee said. "Until we see it affect the local markets, i.e. the European market, it's not going to really affect our market."

Bluechip stocks Fletcher Building and Telecom were the two main leaders on the day, he said, with no decliners of any real significance.

"A point here and a point there- but most of the market's up on the day."

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NZX follows offshore leads to rise

Facebook Inc shares slid below $29 to a new low on Tuesday as nervous investors fled the company's shares, concerned about the social network's long-term business prospects and an initial offering price that proved too rich.

Shares of the No. 1 social network fell 10 percent to an all-time low of $28.65, before recovering slightly to $29.01.

Since its market debut on May 18, the eight-year-old company has shed approximately $25 billion in value -- roughly equivalent to the market capitalization of Morgan Stanley, the lead underwriter of Facebook's IPO.

Wall Street has harbored concerns that Facebook, while boasting nearly a billion users worldwide and dominating Internet social-networking, would have difficulty translating its growing presence on smartphones and other mobile devices into revenue. Rivals Google Inc and Apple Inc are currently more dominant in the mobile arena.

The increasing urgency of Facebook's quest to monetize mobile is spurring widespread speculation over its next moves. Technology bankers say the company will benefit from tacking on mobile operating software through an acquisition of Norway's Opera, which has been on the auction block for a while.

The New York Times over the weekend also cited sources dredging up a longstanding rumor that Zuckerberg was pondering building a Facebook phone, with the new wrinkle that an easy way to acquire the hardware expertise needed was to buy troubled Research in Motion.

Analysts say apart from the challenge of earning money off smartphone and tablet users, Facebook -- which relies on advertising for the majority of its revenue -- may also find it difficult to lure large advertisers.

Days before Facebook's market debut, General Motors announced it was pulling out of paid advertising on the social network, citing Facebook's unproven track record and echoing potential concerns about the lack of evidence that advertising on Facebook yielded strong returns on investment.

"Facebook is in a transition in their business model," Walter Price, portfolio manager of the Wells Fargo Advantage Specialized Technology Fund, told Reuters Insider. "It was easy to get the first 5 to 10 percent of an advertising budget to try it on Facebook and do some brand advertising, but getting the next 5 to 10 percent, you've got to displace TV and that's a lot more difficult to do.

"Facebook still doesn't have the metrics to prove profitability and prove growth and awareness from their platform," he added.

Originally posted here:
Facebook stocks reach new low, close below $30 a share

The Internet Retailer Online Retail Index gains 1.5%.

Most e-commerce stocks tracked in the Internet Retailer Online Retail Index advanced last week over the prior week.

The Online Retail Index tracks 25 publicly traded e-retailers and e-commerce technology providers. The majority of index stocks14advanced, while 10 lost value and one, Bidz.com Inc., was flat.

Led by online jeweler Blue Nile Inc., the index gained 1.45% last week, outperforming the Dow Jones Industrial Average, which gained 0.69%. The Standard & Poors 500 had the best performance last week with a 1.74% increase. Blue Niles stock value increased 10.6% last week.

Blue Nile is No. 71 in the Internet Retailer Top 500 Guide. The e-retailer reported earlier this month a 3.7% increase in first quarter sales over the year-earlier period.

Following are the best-performing stocks last week in the Online Retail Index and the percentage change in stock price for each:

Blue Nile, 10.6%

Overstock, 7.2%

U.S. Auto Parts Network, 6.6%

LivePerson, 6.2%

Excerpt from:
E-commerce stocks beat the market in an up week on Wall Street

By Brenton Flynn | More Articles May 29, 2012 |

Company

12-Month Performance

Short Interest %

Days to Cover

Source: Capital IQ.

The Foolish bottom lineAs you can see, each of these companies has meaningful work to do in order to win over investor hearts and minds. The shorts aren't always correct, and looking at the stocks they love to hate can be a great starting point for investors to do their own research. After all, there's nothing better than sticking it to the bears with a contrarian pick that works in your favor.

Speaking of bears, the negative sentiment surrounding Facebook is palpable, and at this point I'm not convinced it's overdone. Facebook has a lot to prove as a public company, but if you're looking for an online leader that's already proving itself, this company is a fraction of Facebook's size but boasts some revenue weapons the social-networking juggernaut probably wishes it had. Find out more about this company in our special report: "Forget Facebook -- Here's the Tech IPO You Should Be Buying." Pick up your free copy today by clicking here.

See more here:
4 Stocks Shorts Love to Hate

SAN FRANCISCO, May 30, 2012 /PRNewswire-iReach/ -- Pacific Union International, the leading luxury real estate brand in the Bay Area, is expanding its reach to Truckee and North Lake Tahoe.

(Photo: http://photos.prnewswire.com/prnh/20120530/CG14179)

The company will launch a Truckee/North Lake Tahoe region office today, under the leadership of branch executive Sally J. Gardner. Located in Truckee, the office will serve clientele throughout the North Lake Tahoe area, including West Shore, Tahoe City, Squaw Valley, Alpine Meadows, Northstar,and Truckee.

"Lake Tahoe is an extremely popular destination for Bay Area residents, many of whom own or are considering owning second homes in the area," said Mark A. McLaughlin, CEO of Pacific Union. "Tahoe is a perfect fit for the Pacific Union brand, and we are looking forward to bringing our passion for extraordinary service to the region."

Gardner, the principal of Dashel Mills Distinctive Properties, will lead the charge for Pacific Union's northern expansion. She notes that Pacific Union's values align extremely well with the Dashel Mills philosophy, making the decision to take the helm of the new office an easy one.

"Dashel Mills was built on a promise for exceptional, committed service to each client, with personalized attention, professionalism, and great follow-through," she said. "Pacific Union embodies these qualities both in its management and its real estate professionals, which made it a perfect fit. I'm very proud to be joining the Pacific Union team and am looking forward to a very successful start."

Gardner has lived in the Lake Tahoe area for more than a decade and has deep real estate experience, including land and commercial development, finance, marketing, new home sales specialists, commercial and residential leasing, new construction management, and founding Dashel Mills, a full service residential brokerage.

An entrepreneur at heart, Gardner has also worked in the airline industry and founded a Bay Area Internet-based business early in the dot-com era. She is active in the Lake Tahoe community, where she founded the Tahoe Mothers' Club, is a member of the Truckee Sportsmen's Association, and serves on the board of directors of the Olympic Heritage Ski Museum. She also founded the Gardner Family Fund and is a supporter of the Queen of Hearts women's fund and the Tahoe Truckee Community Foundation.

Gardner maintains her Bay Area connections as a sustaining member of the Junior League of Palo Alto-Mid Peninsula. A mother of three active boys, she enjoys many of the outdoor activities the Lake Tahoe lifestyle offers, including sailing, hiking, snow skiing, water skiing, and paddle boarding.

About Pacific Union International

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Pacific Union International Announces Expansion to Lake Tahoe