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BUSINESS
August 6, 2012 | By Andrew Tangel
Knight Capital Group confirmed it entered into a $400 million deal to rescue the struggling brokerage after a trading software glitch last week left it on the verge of collapse. In a filing Monday with the  U.S. Securities and Exchange Commission, Knight said a group of investors agreed to purchase $400 million of 2% convertible preferred stock. The preferred stock would be convertible into 267 million shares, diluting current shareholders. Knight's stock tumbled after the opening bell on Wall Street, falling 62 cents, or 15%, to $3.43 a share.
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BUSINESS
July 27, 2012 | By Tiffany Hsu
Facebook's short life so far as a public company continues to be inauspicious, as its stock plunged as much as 17% to a new low of $22.28 in early trading Friday. Investors are taking out their disappointment on the company after it reported less than stellar earnings Thursday after trading closed. Though revenue at the Menlo Park, Calif. company came in above expectations at $1.18 billion, with adjusted earnings per share matching forecasts of 12 cents, its costs and expenses are up 295% from the same period a year ago. Facebook also posted a loss of $157 million.
BUSINESS
July 12, 2012 | By Andrew Tangel
NEW YORK -- Stocks were down 1% in early trading on Wall Street Thursday, a day after the Federal Reserve released minutes showing internal debates about new monetary stimulus. The Dow Jones industrial average was down 93 points, or 0.7%, to 12,512 shortly after the opening bell. The Standard & Poor's 500 index was down 13 points, or 1%, to 1,328. The Nasdaq was down 42 points, or 1.5%, to 2,845. The morning sell-off came despite a federal government report showing a decline in first-time unemployment claims.
BUSINESS
July 12, 2012 | By William D'Urso and Tiffany Hsu, Los Angeles Times
With a blistering heat wave continuing in much of the in the Midwest, the prospects for this season's corn crop have further diminished. The latest prediction from the U.S. Department of Agriculture is that nationwide, corn farmers will get a yield of 146 bushels per acre this season. That's 20 bushels fewer per acre — a 12% drop — than the government agency forecast just last month. The revised forecast caused a momentary spike in the price of corn futures for September delivery on the Chicago Board of Trade.
BUSINESS
July 10, 2012 | By Andrew Tangel
NEW YORK -- Stocks gained in early trading Tuesday after European leaders agreed on bailout terms for Spain's troubled banking system. The Dow Jones industrial average gained 43 points, or 0.3%, to 12,779 shortly after the opening bell. The Standard and Poor's 500 index rose 7 points, or 0.5%, to 1,359. The Nasdaq was up 8 points, or 0.3%, to 2,939. Major European stock indexes were up about 1% or more. Spain's costs of borrowing eased, meanwhile. The country's 10-year bond yield slid to about 6.7%, down from about 7% Monday.
BUSINESS
July 9, 2012 | By Andrew Tangel
Stocks edged lower in early trading on Wall Street today as public companies were set to report their profits for the second quarter, an indicator of the strength of the U.S. and global economies. The Dow Jones industrial average was down 55 points, or 0.4%, to 12,718 shortly after the opening bell. The Standard & Poor's 500 index was off 5 points, or 0.3%, to 1,350. The Nasdaq was down 7 points, or 0.3%, to 2,930. Major U.S. indexes lost about 1% Friday as the United States reported sluggish job growth in June.
BUSINESS
June 28, 2012 | By Andrew Tangel
NEW YORK -- Stocks continued their slide in early trading on a Wall Street as the public digested the U.S. Supreme Court's ruling on President Obama's healthcare law. The Dow Jones industrial average was down 88 points, or 0.7%, to 12,536 shortly after the opening bell. The Dow hasn't budged since the high court released its highly anticipated ruling. The broader Standard & Poor's 500 index was down 8 points, or 0.6%, to 1,324. The Nasdaq was down 23 points, or 0.8%, to 2,852.
BUSINESS
June 4, 2012 | By Andrew Tangel
After opening slightly higher, U.S. stocks edged lower today in the first trading since Wall Street's gut-wrenching drops on Friday. The Dow Jones industrial average was down 33 points, or 0.3%, to 12,085 shortly after the opening bell. The broader Standard & Poor's 500 lost 3 points, or 0.3%, to 1,275. The tech-focused Nasdaq was down 4 points, or 0.1%, to 2,744. Major U.S. stock indexes lost more than 2% Friday after the federal government reported dismal hiring in May, renewing fears of a U.S. economic slowdown as Asia and Europe face struggles of their own. Major Asian stock markets were down sharply in Monday trading, while European indexes were mixed.
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