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Facebook (FB) Stock Advancing on E-Commerce Push

NEW YORK (TheStreet) -- Facebook (FB - Get Report) stock is increasing by 1.23% to $94.39 in early afternoon trading on Monday, as it tests ad features that will enable users to shop directly through the company's app.

Mobile purchases account for less than 2% of total retail sales, but the social networking company is hoping it can improve the mobile phone e-commerce experience and win ad dollars by doing so, Reuters reports.

With the new features, Facebook users will no longer be redirected to another site when clicking on an ad, and businesses will be able to display products for purchase directly on their Facebook pages, Reuters adds. The company also is adding a mobile section dedicated solely to shopping for products from select small businesses.

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"From Facebook's perspective, they're addressing a pain point for retailers," Catherine Boyle, an analyst at...


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