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market movers

Facebook posts biggest gain on S&P 500

Mark Zuckerberg is CEO of Facebook, which went public in May 2012.

David Ramos /Getty Images

Mark Zuckerberg is CEO of Facebook, which went public in May 2012.

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Facebook Inc. advanced 4 percent to a record price and posted the S&P 500’s biggest gain.
A Stifel Nicolaus & Co. analyst, Jordan Rohan, raised his price target on the social-networking company to $82 from $72, citing Facebook’s growing share of marketing spending. Rohan has a “buy” rating on the stock and says his firm’s checks suggest “marketers view Facebook as a strategic communications platform, capable of establishing and reinforcing relationships with consumers.”

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