stock market

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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...

Employee Dump Day Could Sink Facebook Stock

Market could soon be flooded with shares

(Newser) - Facebook's beleaguered stock price got a reprieve this week after some positive earnings results, but the good times might not last. On Monday, current and former Facebook employees will have their first chance to sell their shares, meaning more than 230 million more shares will suddenly be available, USA ...

Dow Plunges 200 on Bad Earnings
 Dow Plunges 200 
 on Bad Earnings 
MARKETS
Oct 23, 2012 9:23 AM CDT

Dow Plunges 200 on Bad Earnings

Stocks suffer biggest drop since June

(Newser) - Stocks plunged at the open today, with the Dow falling more than 200 points, sending it to its lowest level in seven weeks. As of 10:22am the Dow was down 206, while the Nasdaq and S&P were down 30 and 20 points respectively. The major cause for the...

Despite Rising Dow, People Still Scared of Stocks

'I think we've lost another generation'

(Newser) - Stocks have reached new heights lately, but it's been a lonely climb. A host of investors have soured on the market, pulling a net $138 billion out of it since March 2009, the Wall Street Journal reports. That makes it the first time since 1981 that stock investment has...

Consumer Spending Rises —Because Gas Is Up

Which means people might have to cut back elsewhere soon

(Newser) - Americans boosted spending in August even though their income barely grew. But much of the increase went to pay higher gas prices, a sign they may have to cut back elsewhere in coming months. The Commerce Department says consumer spending rose 0.5% in August from July, the biggest jump...

Mitt Romney Thinks He&#39;s the Confidence Fairy
 Mitt Romney 
 Thinks He's the 
 Confidence Fairy 
paul krugman
Sep 24, 2012 11:32 AM CDT

Mitt Romney Thinks He's the Confidence Fairy

Believes his mere election will fix economy: Paul Krugman

(Newser) - Paul Krugman has long derided the " confidence fairy ": a notion that government cuts will somehow spark more consumers and investors to buy. We're seeing another version of that fairy now, after learning that Mitt Romney, at his infamous "47%" fundraiser, also claimed that his election would...

Scapegoat for Facebook&#39;s IPO: CFO ... or You?
Scapegoat for Facebook's IPO: CFO ... or You?
OPINION
Sep 4, 2012 1:40 PM CDT

Scapegoat for Facebook's IPO: CFO ... or You?

NYT pins it on the exec, but others say investors themselves are to blame

(Newser) - Financial writer Andrew Ross Sorkin of the New York Times has set off much chatter today with a scathing column about Facebook's IPO that pins most of the blame on company CFO David Ebersman. Sorkin finds it odd that the 42-year-old has largely escaped mention even though he played...

S&amp;P 500 Drops Sears
 S&P 500 Drops Sears 
Aug 30, 2012 7:05 PM CDT

S&P 500 Drops Sears

Retailer has been part of index since it began in 1957

(Newser) - Observers of the S&P 500 might notice the absence of a familiar name starting Wednesday: Sears is being dropped from the index, after being a part of it since the S&P's creation in 1957, reports CNNMoney . One of the main reasons cited for the move is a...

For the Price of One Apple Share, You Can Buy...

The AP takes a quirky look at what you could get for $665.15

(Newser) - Apple became the world's most valuable company ever yesterday, after its stock jumped 2.6% to an all-time high of $665.15. If that seems like a lot for a single share of something, well, the AP doesn't exactly disagree. It rounds up six other ways you could...

Facebook Shares Hit New Low
 Facebook Shares Hit New Low 
Aug 17, 2012 6:36 AM CDT

Facebook Shares Hit New Low

They drop 6% as some investors get first chance to sell

(Newser) - More stock woes for Facebook: As some shareholders got their first opportunity to sell yesterday, shares plummeted to a new low of $19.69. By day's end, they'd settled at $19.87, a 6% plunge, the Los Angeles Times reports. It's not clear yet how many of...

Knight Capital Gets $400M Rescue Deal

Deal will let firm stay alive after $440M loss

(Newser) - Knight Capital desperately needed somebody in shining armor to come to its rescue after it lost $440 million in 45 minutes last week, and a lifeline has arrived—but at a very heavy cost to shareholders. A group of financial services and private equity firms has agreed to a $400...

Knight Capital on Brink After Millions of Accidental Trades

Talk of regulation heats up after brokerage debacle

(Newser) - Forty-five minutes. That's how long it took Knight Capital to lose $440 million on Wednesday when its new trading software went haywire, making millions of unintended trades, and leaving it at the brink of collapse. Now the company is fighting for its survival, and debate is heating up about...

Facebook Trades Below $20
 Facebook Trades Below $20 
Aug 2, 2012 1:16 PM CDT

Facebook Trades Below $20

Stock falls below psychological threshold in wake of earnings

(Newser) - Remember when financial columnist Mark Hulbert suggested that Facebook shares should cost $13.80 ? Well, it's looking more and more likely. Shares dipped below $20 in trading today, at one point hitting $19.90, according to the Wall Street Journal . "There's huge negative sentiment and there...

Mutual Funds Bail on Facebook
 Mutual Funds Bail on Facebook 
Aug 2, 2012 6:41 AM CDT

Mutual Funds Bail on Facebook

Fidelity sells off huge chunk of stock at record speed

(Newser) - Usually, when big mutual funds invest in IPOs, they're in for the long haul. But that might not be the case with Facebook. Twenty-one mutual funds from Fidelity Investments, one of Facebook's earliest buyers, unceremoniously dumped more than 1.9 million public shares combined last month, with 16...

Spain Panic Sends Dow Down 200+
 Spain Panic Sends 
 Dow Down 200+ 
MARKETS
Jul 23, 2012 9:13 AM CDT

Spain Panic Sends Dow Down 200+

Spanish bonds hit dizzying high

(Newser) - The Dow took a nosedive this morning, as did markets the world over, after Spanish media reported that up to six regions may need assistance from the federal government, sending the yields on Spanish 10-year bonds to a new high of more than 7.5%. The Dow plunged 237 points...

Facebook IPO Proves Need for Overhaul: Lawmakers

Darrell Issa raises concerns for small investors

(Newser) - Lawmakers led by Rep. Darrell Issa have penned a letter to the SEC urging an overhaul of the IPO system, saying Facebook's shaky public offering underlines the raw deal handed to small investors, the Wall Street Journal reports. The Republican House Oversight chair wrote that investment banks "dictate...

Nasdaq: We Owe Industry Apology Over Facebook IPO

It's offering clients $40 million to cover losses

(Newser) - Nasdaq is offering $40 million in cash and rebates to its clients to make up for the glitches during the Facebook IPO, reports Reuters . One problem: Total claims by firms who lost money because of the technical snafus could reach $150 million to $200 million, say two senior finance execs....

Dow Plummets 200+ Points
 Dow Plummets 200+ Points 
Jun 1, 2012 10:07 AM CDT

Dow Plummets 200+ Points

Weak jobs report leads to market troubles

(Newser) - The Dow's gain for the year is gone, thanks to today's terrible jobs report . The Dow fell more than 200 points following the report, according to the AP . At 11am EDT, it was at 12,170, down 224 points. That's a loss of about 0.3% for...

Behind Facebook's Flop: Morgan Stanley Cut Forecast

Fingers pointing at Morgan Stanley for multiple reasons

(Newser) - Why did Facebook get off to such a rocky start on Wall Street? Well, it might have something to do with Morgan Stanley's decision to slash its revenue forecast at the last minute, Reuters reports. "This was done during the roadshow," says one mutual fund source. "...

Facebook IPO: The Emperor Has No Clothes
Facebook IPO: The Emperor Has No Clothes
OPINION Roundup
May 21, 2012 11:17 AM CDT

Facebook IPO: The Emperor Has No Clothes

Stock's rough first day has pundits asking if it's DOA

(Newser) - Facebook had a disappointing first day on the market, so much so that Dana Blankenhorn of TheStreet is calling the relatively cheery media coverage surrounding it "one of the great frauds in American history." Blankenhorn's reasoning: "If I can barely sell 15% of something at $38...

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