Why Wal-Mart, Facebook, and Three Other Stocks Are Trending Today

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Board Plans for a More Democratic Post-Zuckerberg Facebook 

Facebook Inc (NASDAQ:FB)‘s board of directors has proposed a new rule that will ensure that Mark Zuckerberg and his descendants won’t retain majority voting control of the company if Zuckerberg steps down. The proposed rule change will be voted on during Facebook’s annual meeting on June 20. Although he doesn’t own the majority of the company, Zuckerberg currently retains majority control of Facebook through a special class of voting shares. With Facebook stock nearly triple its IPO price and near all-time highs, the absolute control has worked out so far, however. A total of 164 funds tracked by Insider Monkey owned shares of Facebook Inc (NASDAQ:FB) at the end of the first quarter, up from 146 a quarter earlier.

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BP Takes Another Step to Put Gulf of Mexico Spill Behind It

BP plc (ADR) (NYSE:BP) is trending today after the company agreed to settle claims by various investors in the United States that the company lied about the magnitude of the Gulf of Mexico spill to hold up its share price. Although the U.S. investors were originally seeking $2.5 billion, they will have to make do with the settlement payment of $175 million instead. The settlement does not resolve other security-related matters concerning the Gulf of Mexico spill, however. Ken Fisher’s Fisher Asset Management is long almost one million shares of BP plc (ADR) (NYSE:BP), according to its latest 13F filing.

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Bazaarvoice Beats Expectations

Bazaarvoice Inc (NASDAQ:BV)’s stock has gained more than 3% so far today, after the company reported a fiscal fourth-quarter loss of $0.01 per share on revenue of $50.7 million, beating the estimates by $0.03 per share and $1.84 million, respectively. SaaS revenue was $49.1 million, while active clients number amounted to 1,399. Operating cash flow was $4.7 million and EBITDA from continuing operations was $0.3 million. For the full year, the company reported revenue of $199.8 million and an adjusted loss of $0.05 per share. A total of 18 funds tracked by Insider Monkey held stakes in Bazaarvoice Inc (NASDAQ:BV) at the end of March, down by four from the previous quarter.

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Disclosure:None

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