October 30, 2012 |
Major stock exchanges are testing their systems in preparation to reopen Wednesday after Hurricane Sandy forced trading to halt on Wall Street. The New York Stock Exchange and the Nasdaq were allowing brokerage firms to run tests on their platforms early Tuesday. If the NYSE's physical trading floor doesn't reopen Wednesday, the exchange's all-electronic platform, Arca, would operate if markets open. PHOTOS: Sandy bears down on East Coast NYSE Euronext, the exchange's operator, denied reports that flooding in Lower Manhattan had inundated its trading floor with three feet of water.
July 9, 2013 |
Tesla Motors Inc., will join the Nasdaq 100 stock index beginning Monday to fill the spot of computer technology company Oracle Corp., which announced last month it would move to the New York Stock Exchange. Headed by Elon Musk, the billionaire also responsible for PayPal and SpaceX, Tesla manufactures high-end electric cars. The Palo Alto company's Model S sedan starts at $62,200 and can exceed $100,000 with modifications. The automaker reported selling 8,931 cars in the first half of 2013.
April 10, 2014 |
Another plunge in once-soaring technology stocks sent the Nasdaq composite index into a triple-digit decline and pushed the rest of the stock market down with it. Erstwhile darlings such as Netflix Inc. and Facebook Inc., as well as biotechnology highfliers such as Intercept Pharmaceuticals Inc., sank as investors rushed to cash in what remained of earlier profits. As of 10:55 a.m. Pacific, the Nasdaq composite index was down 107.50 points, or 2.6%, to 4,076.41. PHOTOS: Richest and poorest cities in America The Dow Jones industrial average skidded 176.57 points, or 1.1%, to 16,260.61.
August 23, 2012 |
Citigroup has lined up against Nasdaq's plan to compensate brokerages that lost money in the Facebook IPO. In a letter filed with the U.S. Securities and Exchange Commission opposing Nasdaq's plan to pay $62 million to brokerages that lost money in the botched initial public offering, Citi criticized Nasdaq's "grossly negligent conduct. " Facebook's May 18 IPO was fraught with technical problems that saddled brokerages with millions in losses. Nasdaq delayed the highly hyped offering, but decided to go through with it despite technical difficulties in its systems.
June 8, 2012 |
For all the grief the glitchy Facebook IPO has caused Nasdaq (or is it the other way around?), the exchange operator has still managed to woo major companies away from its competitor, the New York Stock Exchange. Nasdaq OMX Group Inc.'s newest prize isKraft Foods Inc., which said Friday that it is abandoning NYSE to list on Nasdaq instead. The KFT ticker will make the jump on June 26. But it won't last long in that form: Kraft - which makes brands such as Cadbury, Maxwell House, Oreo and Trident - is in the middle of spinning off its North American grocery business.
May 18, 2012 |
NEW YORK -- The U.S. Securities and Exchange Commission will review trading glitches with Nasdaq's handling of Facebook's IPO. “As is our practice, staff will review the incident with Nasdaq to determine its cause and steps that will be taken to address it,” SEC spokesman John Nester said in a statement after an inquiry from The Times. Brokerages complained of technical issues with the Nasdaq exchange, as investors did not know whether their trades in the highly anticipated stock offering had been executed.