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Boost in Facebook stock, easing post-IPO decline

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NEW YORK (AP) - Facebook's stock got a boost Friday, easing a decline that has followed the company's initial public offering last month.

Shares of Facebook Inc. climbed 79 cents, or 3 percent, to close Friday at $27.10. The stock is still down 29 percent since its IPO price of $38. And it is down 2 percent for the week.

The stock price jump comes a day after research firm comScore previewed a report measuring the effectiveness of advertising on Facebook. The report also looked at other things brands do beyond paid advertising. Such "earned media" can include Facebook users sharing a post about the brand.

In a blog post Thursday, comScore said such earned media "is having a statistically significant positive lift on people's purchasing of a brand."

ComScore plans to release the findings on Tuesday.

Also on Thursday, Facebook started rolling out its App Center to users. It's a place where people can find Facebook apps recommended to them based on their interests, apps they have downloaded or apps that their friends like.

The App Center is a central location for Facebook applications ranging from games to music-listening services. Facebook said it does not compete with mobile app stores because it drives traffic to them.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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