Facebook Tumbles Then Surges As Algos React To "Fake" Earnings Estimate

Facebook first tumbled then jumped after reporting Q2 EPS of $1.32, which initially slammed the stock as much as 5% lower however, then jumped just as quickly when it emerged that Bloomberg had blasted a wrong EPS estimate, according to which the company had missed earnings of $1.38...
- FACEBOOK 2Q EPS $1.32, EST. $1.38
... only to immediately correct itself, and release the correct consensus expectations, which was $1.13.