Facebook Up 7% After E-commerce Announcement

by Paul Quintaro, Benzinga Editor

September 28, 2012 3:20 PM | 21 seconds read | Make a Comment

Facebook

announced plans for a gift-giving feature that will allow its 950 million users to buy and send items to their friends. The service will initially be available to U.S. customers only. Partners include Starbucks

SBUX

and 1-800-Flowers.com

FLWS

. Shares of Facebook reacted positively to the news, trading up over 7% Friday afternoon.

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