Facebook Record Gain as IPhone Aids Mobile: San Francisco Mover
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Facebook Inc. posted a record gain after Apple Inc. debuted the iPhone 5 with tighter integration for the social network, enabling voice-activated posts and photo sharing.
Facebook increased 7.7 percent to $20.93 at the close in New York. Its prominence on the iPhone 5 debuted today bolstered efforts by Chief Executive Officer Mark Zuckerberg to allay concerns over its ability to generate sales from users who increasingly socialize over handheld devices. The stock has plunged 45 percent since an initial public offering on May 17.