FB stock climbing back from abyss

GOING MOBILE: Facebook shares are on track to have their biggest daily gain since the initial public offering in May, the Wall Street Journal notes. The stock rose 21% to $23.57 in midday trading on Wednesday, a day after the company announced an unexpected increase in Q3 revenue from sales of mobile ads. These ads accounted for 14% of total revenue, up from none a year earlier. Through Tuesday, shares had fallen 47% from the IPO price of $38. "They're moving in the right direction, and it seems to be that they're picking up speed," said Kevin Landis of Firsthand Capital Management. "They're starting to get more revenue on each mobile user, and the mobile users are spending more time on Facebook." (10/25a)