November 25, 2013 |
The stock market rally rolled on Monday, with the Nasdaq composite index crossing 4,000 for the first time since 2000. Though it remains far below its all-time high, the technology-laden Nasdaq is up more than 32% this year, making it one of the best-performing market indexes of 2013. Nasdaq rallied strongly Monday morning, topping 4,007 before sagging to just below 4,000. Nasdaq has been propelled by many of the same forces that drove the Dow Jones industrial average above 16,000 last week: solid corporate profits, low interest rates and the Federal Reserve's economic-stimulus campaign.
October 16, 2013 |
The big news out of the financial markets Wednesday is that Twitter, whose initial public offering is likely to be one of the hottest transactions of the year, will list its shares on the New York Stock Exchange instead of on Nasdaq. The world asks: So what? The answer is: So, nothing. The truth is that a company's decision about where to list makes virtually no difference to anyone except to the two main exchanges themselves. To them it means a lot. They get annual fees from the listed companies -- up to $500,000 at the NYSE, $100,000 at Nasdaq -- as well as a minuscule vig from every trade.
October 15, 2013 |
NEW YORK -- Twitter Inc. has found a home on Wall Street: the New York Stock Exchange. The micro-blogging juggernaut's choice to list its soon-to-be-public stock on the Big Board is a blow to the Nasdaq Stock Market, which fumbled the debut of Facebook, last year's hot tech IPO. Twitter disclosed its pick in a securities filing late Tuesday. Twitter is seeking to raise $1 billion in the offering, on track to take place next month. Although investors may care little where the company lists its stock, Twitter's choice nonetheless carries high stakes for the country's two largest exchanges.
October 14, 2013 |
NEW YORK - As Twitter Inc. shops for a home on Wall Street, the Nasdaq Stock Market and New York Stock Exchange are cranking up the charm - just like they've done with other tech stars. As real estate listings website Zillow Inc. was going public two years ago, Nasdaq dispatched Chief Executive Robert Greifeld to personally make a pitch over breakfast in Seattle. The NYSE deployed Larry Leibowitz, its chief operating officer. In the end, Nasdaq won. The exchange dangled generous use of its electronic billboard towering seven stories over Times Square.
October 4, 2013 |
SAN FRANCISCO -- With the hottest technology offering since Facebook still technically up for grabs, the Nasdaq Stock Market's chief Bob Greifeld paid a visit to Twitter headquarters in San Francisco on Friday. Twitter is leaning toward listing with the New York Stock Exchange after the technical glitches that marred Facebook's IPO in May 2012, a person familiar with the situation said last week. Greifeld made his pitch anyway, arguing that Twitter would be better off on Nasdaq and trading with many of its peers.
August 23, 2013 |
NEW YORK - Investors shook off the after-effects of the Nasdaq Stock Market's three-hour outage, which rattled investor confidence in high-speed electronic trading, and spurred the major indexes to a second straight day of gains Friday. Nasdaq's technical snafu, dubbed a flash freeze, renewed fears of Wall Street technology run amok, but investor worries seemed to ebb. On Friday, Robert Greifeld, chief executive of the exchange's parent company, Nasdaq OMX Group Inc., defended the company's response and declared the exchange "came back successfully" from Thursday's outage.