Live: Facebook unveils ‘Graph Search’ at news conference

MENLO PARK, Calif. -- Anticipation has been making Silicon Valley wait just like a Carly Simon song in a 1970s Heinz ketchup commercial.

But that wait will come to an end Tuesday morning when Facebook holds a news conference at its Menlo Park, Calif., headquarters.

We’re live tweeting from the event.

Tweets by @jguynn

Facebook last week invited the media to “come and see what we’re building.” It provided no details. There has been no shortage of speculation on what Facebook might announce as investors pushed shares above $30.

Shares closed at $30.95 on Monday, though analysts say the stock gains may have more to do with investors’ anticipation of the company’s fourth-quarter financial results due out Jan. 30 than anticipation of a major announcement at the mysterious news conference.

The invitation drew so much attention because it’s Facebook’s first since the troubled initial public stock offering last May.

Analysts say it’s unlikely Facebook will make a major announcement two weeks before its earnings report. But that has not stopped bloggers and analysts alike from guessing what the announcement might be: a new iPad app, new advertising formats (definitely mobile, maybe video), new mobile features and, the longest shots, a search engine or a Facebook phone.

In September during an on-stage interview with investor and blogger Michael Arrington, Facebook Chief Executive Mark Zuckerberg said search is a promising area of growth for Facebook. But most people expect Facebook to improve search on its website rather than start its own search engine. Zuckerberg downplayed speculation that Facebook would build its own phone to compete with Apple’s iPhone and devices powered by Google’s Android software.

ALSO:

With a billion users, Facebook still pushes to grow

Facebook issues mystery invitation to media: What’s it building?

Is Facebook worth it? Studio execs confide they may cut movie ads

Follow me on Twitter @jguynn