Slide worsens across the US stock markets April 10, 2012 THE SELL-OFF in US stocks accelerated yesterday, as the Dow and S&P 500 dropped for a fifth day, with the pullback coming on the cusp of earnings season. The Dow Jones industrial average lost 213.66 points, or 1.65 per cent, to 12,715.93 at the close. The Standard & Poor’s 500 Index dropped 23.61 points, or [...]
Dow and S&P both end lower for fourth day April 9, 2012 THE Dow and the S&P 500 extended losses to a fourth day yesterday, as investors took their cues from last week’s disappointing jobs report, which raised fresh concerns about the US economy’s recovery. Despite yesterday’s declines, the Dow industrials and the S&P 500 ended above their session lows. But trading has been choppy in recent [...]
Burger King set to rejoin the US stock market April 4, 2012 BURGER King will flip back to the public markets less than two years after it was snapped up by a US private equity house. The world’s third-largest hamburger chain, currently owned by 3G Capital Management, has agreed to sell a 29 per cent stake to London-listed investment firm Justice Holdings for $1.4bn (£882m). Shares in [...]
Wall Street drops on Fed caution April 3, 2012 US stocks fell yesterday, with the S&P 500 retreating from four-year highs after the US Federal Reserve said it was less inclined to provide more economic stimulus. The Dow Jones industrial average declined 64.94 points, or 0.49 per cent, to 13,199.55 at the close. The Standard & Poor’s 500 Index slipped 5.73 points, or 0.40 [...]
IPO success for food firm Annie’s March 28, 2012 Shares in Annie’s surged 89 per cent on their first day of trading yesterday despite the organic food company pricing its IPO above a boosted price range. Listed on the New York Stock Exchange, Annie’s had the best debut performance since LinkedIn’s shares soared 109 per cent when the website floated for $45 last May. [...]
Apple gains again despite Wall St slide March 27, 2012 US stocks retreated from near four-year peaks yesterday, while a batch of large-cap shares hit new highs, with the help of portfolio managers snapping up top performers near the end of the quarter. With the first quarter ending on Friday, portfolio managers adjusted holdings by buying some of the best performers to dress up their [...]
BATS sticks with Chi-X tech move March 26, 2012 BATS GLOBAL Markets is pushing ahead with plans to move its Chi-X platform, Europe’s largest share trading venue, to its own technology after a software bug forced the exchange operator to take the embarrassing step of pulling its own listing last week. The third-largest US stock exchange was due to be the first listing on [...]
Investors unnerved by poor factory data March 22, 2012 CYCLICAL sectors led US stocks lower yesterday, setting the S&P 500 up for its first negative week in six, after factory data showed a slowdown in both the Eurozone and China. The weak data is hardly a surprise for markets, as many analysts have already factored in a recession in the Eurozon and early this [...]
Rexnord moves closer towards New York listing March 19, 2012 REXNORD Corporation, which manufactures power transmission and water management products, announced terms for an IPO on the New York Stock Exchange yesterday. The Milwaukee-based company plans to raise $450m (£283m) by offering 23.7m shares at a price range of $18 to $20. At the midpoint of the proposed range, Rexnord would command a market value [...]
Wall St sees end of 5-day winning run March 14, 2012 THE S&P 500 broke a five-day streak of gains yesterday as investors found little reason to extend a rally that took the benchmark index to four-year highs. Momentum continued in Apple, as its shares climbed 3.8 per cent to $589.58 following positive analyst comment. Morgan Stanley and Canaccord Genuity both lifted their price targets to [...]