Marriott’s warning sparks retail fears March 28, 2011 US stocks fell yesterday as the corporate outlook was clouded ahead of earnings and uncertainty continued to creep from abroad, while volume hit its lowest level of the year. A warning from hotel operator Marriott International hurt hotel and other consumer shares, amid expectations of other negative corporate earnings pre-announcements. “Corporations now have several excuses [...]
Wall St rises as investors dismiss Middle East fears March 23, 2011 US stocks advanced yesterday as materials shares rose, but rising commodities prices due to turmoil in the Middle East and North Africa could keep rallies modest. The market’s favoured indicator of anxiety, the Chicago Board Options Exchange Volatility Index or VIX, shows investor worry over unsettled world situations has been tempered for the moment. But [...]
Wall Street slides amid light trading March 22, 2011 WALL Street snapped a three-day winning streak yesterday, even as investors adjusted to the insecurity created by events in Japan, the Middle East and North Africa. The Dow Jones industrial average shed 17.90 points, or 0.15 per cent, to 12,018.63. The Standard & Poor’s 500 Index dropped 4.61 points, or 0.36 per cent, to 1,293.77. [...]
Angry Birds creator mulls IPO March 18, 2011 Angry Birds creator Rovio is set for a stock market listing, according to reports from Finland today. The maker of the popular videogame mobile app could be listed on the New York Stock Exchange as early as next year, its chairman Kaj Hed said. Hed first broke the news to Finnish magazine, Talouselama (Economy), where [...]
Bargain hunters help lift Wall St March 17, 2011 WALL Street rebounded after three days of declines yesterday, but the advance could be temporary as concerns about Japan’s nuclear crisis persisted. The S&P 500 recovered after giving up the year’s gains on Wednesday, but options activity showed traders are increasing hedges against another decline in stocks. “As the headlines come out of Japan, there [...]
Fed update helps to limit Wall St’s losses March 15, 2011 US stocks fell one per cent but ended far from session lows yesterday on the Federal Reserve’s more upbeat economic view and growing sentiment that Japan’s nuclear crisis would only temporarily depress shares. In a second straight day of losses tied to Japan, the S&P 500 fell to within four points of support at 1,257, [...]
KKR has more than $11bn for acquisitions March 15, 2011 Private equity giant Kohlberg Kravis & Roberts has told investors it has more than $11bn (£6.8bn) available to buy companies. KKR, which raised an $18bn global buyout fund in 2006, is just starting to raise a new North America-focused fund with a target size of $8-10bn. “We believe that is incredible capital to take advantage [...]
Nasdaq moves in on NYSE bid March 14, 2011 NASDAQ stock exchange is poised to make a hostile takeover bid for the New York Stock Exchange (NYSE), after entering late stage talks with Bank of America Merrill Lynch to fund the attempted break-up of NYSE and Deutsche Boerse’s merger. Nasdaq is close to securing $5bn (£3.1bn) of financing for its takeover bid, which could [...]
Wall Street suffers in quake aftermath March 14, 2011 US stocks fell in the wake of Japan’s devastating earthquake yesterday, but other than specific industries such as nuclear power, the broad impact on equities was expected to be short-lived. Trading volume was unusually low compared with other sell-offs, coming in at 7.68bn shares traded on the New York Stock Exchange, the American Stock Exchange [...]
Galleon trial witness testifies March 10, 2011 A DISGRACED former McKinsey partner told jurors at the Galleon Group insider trading trial yesterday that he leaked stock tips about the firm’s clients to hedge founder Raj Rajaratnam. Anil Kumar was the first of several of the hedge fund founder’s former friends to testify for the government at the high-profile trial in New York. [...]