Published on 24th October 2012
Facebook Inc.'s shares surged on Wednesday toward their biggest daily gain since the company's initial public offering in May, one day after the social network reported strong revenue and progress on making money from mobile ads. The stock climbed 21% to $23.64 in morning trading, after touching $24.25, its highest intraday level since July 27. Through Tuesday's close, the shares had fallen 47% from their initial-public-offering price of $38. [The Wall Street Journal]