Twilight star rings NYSE opening bell August 14, 2012 LONDON-born actor Robert Pattinson took to the trading floor in New York yesterday to ring the New York Stock Exchange’s opening bell. Pattinson was in town to promote his recent film Cosmopolis – an adaptation of a Don De Lillo book in which he plays a wealthy Manhattan asset manager travelling across the city in [...]
Retailers pick up during light Wall St trading August 14, 2012 US stocks ended little changed yesterday in what investors described as a fatigued market after the S&P 500 rose in seven of the past eight sessions. Retailers were a notable standout after Home Depot raised its profit forecast due to improvement in the housing market and US retail sales data that was stronger than expected, [...]
MAN UTD KICKS OFF IPO WITH SKY-HIGH RATING August 8, 2012 MANCHESTER United is set to become a publicly traded company tomorrow after investors filled the order book for its shares, despite warnings from analysts that the stock is overpriced. City A.M. understands that there has been sufficient demand for the club to push ahead with its listing on the New York Stock Exchange, which will [...]
Knight Capital shares higher August 7, 2012 KNIGHT Capital shares showed signs of improvement yesterday, as the embattled market maker began to regain some of the share volume lost after software glitch caused a huge trading loss last week. Meanwhile, NYSE Euronext said yesterday Knight would resume its responsibilities as a designated market maker on the New York Stock Exchange next Monday. [...]
S&P hits 1,400 on optimism over Europe August 7, 2012 U S stocks rose for a third straight day yesterday, pushing the S&P above 1,400 for the first time since early May, on growing optimism the European Central Bank (ECB) would act soon to contain the Eurozone’s debt crisis. Trading was light, which could distort the level of optimism investors truly have that Europe will [...]
Knight Capital shares tank as it secures lifeline August 6, 2012 KNIGHT Capital said yesterday that a group of investors has rescued the firm in a $400m (£256.2m) deal that keeps the embattled leader in US equities market-making in business, but comes at a huge cost to existing shareholders. Chief executive Tom “TJ” Joyce said the new investors supported him and his management team, but it [...]
Best Buy mulls founder’s offer to take it over August 6, 2012 AMERICAN electronics retailer Best Buy may be taken private after founder and former chairman Richard Schulze made an offer to the company’s board valuing it at up to $9bn (£5.8bn) yesterday. Schulze’s offer to buy the 80 per cent of Best Buy he does not already own sent shares in the retailer up 17 per [...]
Knight in for $400 million lifeline after trading debacle August 6, 2012 Knight Capital Group looks set to enter into a $400m (£256m) financing deal with a group of investors, allowing the trading firm to open its doors today after a crippling $440 million loss. But it will come at a steep cost to shareholders, sources familiar with the situation said. Such a deal would help Knight [...]
Troubled Knight Capital nears a deal for funding August 5, 2012 US EQUITY traders will today give their verdict on stricken deal maker Knight Capital following an audacious last minute bid to save the firm, which last week lost $440m (£281m) due to a technical trading glitch. Several parties were locked in talks last night to provide a financing deal for the market maker, whose algorithmic [...]
Manchester United due to float August 5, 2012 Manchester United is set to float on the New York Stock Exchange this week, in what is shaping up to be a bumper week for the US initial public offering market. The football club is looking to raise $300m (£192m) to help pay down debts. Diner chain Bloomin’ Brands, which owns Outback Steakhouse, is also [...]