stock market

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Icahn Drives Apple Stock 5% With a Single Tweet

Now Carl Icahn is pushing for a $150 billion buyback

(Newser) - "We currently have a large position in APPLE," activist investor Carl Icahn tweeted yesterday. "We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come." That was enough to send Apple stocks soaring up 5%, closing yesterday at $489.57. But...

Facebook Stock Nears a Milestone

It surges 30%, inches closer to IPO price

(Newser) - Don't look now, but Facebook is thisclose to erasing the year-plus embarrassment of having a stock price below its IPO price. Shares boomed about 30% today to close at $34.36, getting within striking distance of the $38 IPO mark, reports MarketWatch . In fact, this is Facebook's best...

Saudi Arabia Gets a New Weekend

Aligns working week with fellow Gulf states with Friday-Saturday move

(Newser) - A notable change for working Saudi Arabians: The weekend will now come a day later. Its people had enjoyed a Thursday-Friday weekend, but Oman's recent switch to Friday-Saturday made Saudi Arabia the odd man out among the six-nation Gulf Cooperation Council. The change to a Friday weekend start, described...

Dow Plummets 266: Market's Worst Day in 5 Months

China's growth rate starts off a bad day

(Newser) - The stock market suffered its worst loss in five months today as China posted lower-than-expected growth and the Boston Marathon bombing added a late wave of anxiety, TheStreet and Wall Street Journal report.The Dow Jones Industrial Average sank 266 points, gold fell by 9.4%, and the S&P...

Meet the Best Investor No One's Ever Heard Of

Mark Mulholland's mutual fund is built on scripture—and a little help from Apple

(Newser) - One of the top mutual funds in the country is built on faith. That's faith in a higher power—it's not called the Matthew 25 Fund for nothing—and also faith that its assets would recover from a 2008 low of $22 million, down from $115 million. Well,...

Dow Passes All-Time High
 Dow Passes All-Time High 
Mar 5, 2013 8:53 AM CST

Dow Passes All-Time High

Stocks soar at open after positive report from China

(Newser) - The Dow Jones Industrial Average reached its highest level ever just after the opening bell this morning, thanks in part to China's pronouncement that it would be maintaining its growth target. As of 9:51, the Dow was up 103 points, to 14,231. Its previous high, set in...

Dow Cracks 14,000
 Dow Cracks 14,000 
Feb 1, 2013 9:45 AM CST

Dow Cracks 14,000

Psychological threshold passed for first time since 2007

(Newser) - The Dow Jones Industrial Average hit a major psychological milestone today, cracking 14,000 for the first time since the financial crisis, CNBC reports. The move lasted only for a moment—seconds later it had pulled back below the threshold—but the Dow is still trading more than 100 points...

Mystery Exodus: $114B Withdrawn From Banks in Jan.

Fed data shows post-9/11 record

(Newser) - The country's biggest banks have seen $114 billion leave their coffers this month, with withdrawals in the first full week of the year hitting a post-9/11 record, according to Fed data. Seasonal adjustment cuts the figure to $52.8 billion, which remains the third-highest ever recorded. Bloomberg is trying...

Cat Picks Better Stocks Than Money Managers

Feline's portfolio rises by 4.2%

(Newser) - Investors, it's kitty-cat time: A contest that pitted stock-picking professionals against finance students and a cat named Orlando wrapped up last month—and Orlando won, the Guardian reports. Starting last January, each team invested an imaginary sum worth about $7,900 and was allowed to swap any stocks every...

GM to Buy Back 200M Shares From Treasury

Move could speed up US exit from company

(Newser) - General Motors will spend $5.5 billion to buy back 200 million of its own stock from the US government in the next two weeks, accelerating Uncle Sam's exit from the automaker, the company announced today. GM will pay $27.50 a share, a 7.9% premium on yesterday'...

Pot-Machine Maker: Dudes, Stop Buying Our Stock

Medbox shares soar 3,000% after story

(Newser) - Need more evidence that marijuana is going mainstream? A company that makes pot-dispensing machines had to put out a news release today asking investors to chill, reports MarketWatch . Shares of Medbox were selling at $4 on Monday but jumped to $215 yesterday—a staggering 3,000% increase—because the company...

Is It Doomsday for Facebook Shares?

804M shares held by ex-employees could flood the market

(Newser) - Wall Street's keeping a nervous eye on Facebook shares this morning, which could be in for a really rough day—even by Facebook's standards. Restrictions lift today on 804 million shares held by former employees, meaning the supply of potential shares for sale is about to double, Bloomberg...

Groupon Stock Plunges to New Low

80 workers laid off as firm faces trouble in Europe

(Newser) - Saddled by weak performance in Europe, Groupon's struggles continue: Its shares dropped to $3.25 in after-hours trading yesterday, sinking below analysts' already muted expectations. The plunge marked a 17% drop from its $3.92 closing price. Since its IPO, the company has lost four-fifths of its value, Reuters...

Suddenly, Apple Stock Looks Rotten

Investors worried about product refresh are selling off shares

(Newser) - Investors might finally be falling out of love with Apple. Despite the buzz around the iPad Mini , Apple's shares have fallen 20% since their September peak, from $700 a share down to $558, the New York Times reports. Why? Because where a layperson might see a big slate of...

Stocks, Dollar Plunge After Obama Win
 Dow Plunges 300+
 on Obama Win 
MARKETS
Nov 7, 2012 10:43 AM CST

Dow Plunges 300+ on Obama Win

Fiscal cliff worries loom

(Newser) - Wall Street wasn't exactly cheering over President Obama's reelection. Stocks have been positively plunging all morning, with the Dow down 338 points, the S&P falling 37, and the Nasdaq dropping 79 as of 11:30am. With Washington's makeup essentially unchanged, investors were worried about the oncoming...

Looming Challenge: 'Avert the Cliff'

But is anyone willing to compromise?

(Newser) - Election 2012, check. Next up: the "fiscal cliff." We're fewer than 60 days away from what could be one of the largest tax hikes in US history—as the clock ticks down, will anyone in Washington be willing to compromise? As the Washington Post explains, Democrats may...

Icahn Sours at Taste of Netflix's 'Poison Pill'

Slams stock move as 'poor corporate governance'

(Newser) - Billionaire investor Carl Icahn isn't happy with Netflix's plan to avoid a takeover, and he told the SEC as much yesterday. In a filed statement, he called the company's share-diluting "poison pill" decision "an example of poor corporate governance," the Los Angeles Times reports....

Eying Icahn Takeover, Netflix Turns to 'Poison Pill'

Company seeks to dilute share values after investor picks up 10%

(Newser) - Following billionaire investor Carl Icahn's purchase of a 10% stake in Netflix , word is out that he may push the company to sell—so Netflix has opted for the "poison pill" approach. The company is giving shareholders the right to snap up more stock if any single shareholder...

Carl Icahn Buys 10% Stake in Netflix

He thinks it's undervalued; move sends shares soaring

(Newser) - Netflix is having a busy week, and not only because storm-bound viewers streamed lots of movies . News broke today that billionaire financier Carl Icahn has bought a 10% stake in the company because he thinks it's undervalued, reports MarketWatch . Shares immediately surged 20%, prompting a temporary halt in trading,...

NYSE Testing Hurricane Contingency Plan

And denies reports that the exchange had flooded overnight

(Newser) - As the New York Stock Exchange remains closed for a second day today, US stock exchange operators are testing a new “precautionary” contingency strategy this morning with an eye toward restarting trading again this week. The plan involves the NYSE and the smaller NYSE MKT staying closed, as the...

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