Facebook

Facebook (FB US): posted its biggest one-day drop since May 29 amid investor concerns the company’s earnings report next week will point to slowing sales growth. The stock fell 8.1% to US$28.25. It has slid 26% since its IPO in May. A Needham analyst says some investors may be selling the stock ahead of Facebook’s earnings on July 26. Facebook is expected to report 2Q earnings, excluding some items, of 11cts/ share, according to Bloomberg concensus. Adds, an earnings report from Yahoo! today will probably give Facebook investors an early glimpse into Internet advertising in 2Q.