November 13, 2013 |
A new stock index was launched Wednesday to help investors keep track of the investing strategies of some of the smartest minds on Wall Street. The iBillionaire index lists 30 large-cap stocks owned by billionaire investors, including Warren Buffett, Carl Icahn, Daniel Loeb, David Trepper and David Einhorn. Launched on the New York Stock Exchange under the symbol, BILLION, the index will allow investors to model their portfolios after the stocks that these billionaires own, based on Securities and Exchange filings.
November 6, 2013 |
If the initial public offering of Twitter Inc. had to be summed up in one of the company's famously pithy tweets, this would be it: The timing couldn't be better. Twitter is expected to make its public debut Thursday in one of the hottest IPO markets in years. And Wall Street is paying close attention. The New York Stock Exchange wants a smooth opening to assert its dominance against rival Nasdaq, which was panned for last year's glitchy IPO for Facebook Inc. Investors want a surge in the stock that could strengthen the tech sector's rise this year.
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.