October 11, 2008 |
As Wall Street yo-yoed through another day of breathless ups and downs, a pall of dejection and despair hung over the august New York Stock Exchange, the epicenter of the country's economic malaise. Harried traders frantically tried to recover from a week of spiraling losses, emerging grim-faced outside the exchange's imposing marble facade to puff on cigarettes. The sense of powerlessness was palpable. "It's hell -- what do you think?"
October 13, 1999 |
In the nation's largest-ever trademark infringement award, a Los Angeles jury Tuesday ordered pharmaceutical giant Pfizer Inc. to pay a British company $143 million for stealing the Trovan name to market its controversial antibiotic. Legal experts called the verdict "staggering," saying it raises the stakes for companies that deliberately infringe other companies' trademarks. Jurors said Pfizer, the second-largest U.S.
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.
November 11, 2011 |
Viacom Inc., the owner of MTV Networks and Paramount studios, said it would transfer its stock listing to Nasdaq from the New York Stock Exchange to save on expenses. Its Class B shares will trade under ticker symbol VIAB and its Class A voting shares will trade under VIA, the company said Friday. A listing at Nasdaq, owned by Nasdaq OMX Group Inc., will be "more cost effective," Viacom said. Viacom, based in New York, reported fourth-quarter profit Thursday that exceeded analysts' estimates and added $6 billion for stock buybacks.
December 6, 1996 |
The New York Stock Exchange, under pressure from the Securities and Exchange Commission, agreed to expand by about 40% the circuit breakers that automatically halt trading when the market falls sharply. The NYSE board agreed to halt trading for a half-hour when the Dow Jones industrial average falls 350 points in one day, and for an hour when it falls 550 points. The current trigger points are 250 points and 400 points.
January 10, 2008 |
Another stock exchange merger may be brewing: NYSE Euronext Inc., parent of the New York Stock Exchange, is in talks to acquire the smaller American Stock Exchange, the Wall Street Journal reported on its website. The Amex has struggled for years to retain stock listings and trading business in "put" and "call" options on stocks. Once owned by the Nasdaq Stock Market, the Amex has been independent since 2004. Officials from NYSE Euronext declined to comment. Amex officials didn't respond to calls.
April 7, 2000 |
The New York Stock Exchange said Thursday it will make a series of sweeping changes in the way it trades stocks to keep pace with the fast-changing landscape of the securities industry. But the exchange nixed the idea of creating a centralized "book" where all buy and sell orders for U.S. stocks would be sent. The changes, detailed in a report adopted by the NYSE's board, will automate more extensively the operations of the NYSE.
February 4, 2006 |
The securities industry's main lobbying groups want the New York Stock Exchange to include brokerage firm executives on the board of its regulatory unit once it becomes a for-profit company. The NYSE is about to transform into a public company from a member-owned, not-for-profit institution through its purchase of Archipelago Holdings Inc., a Chicago-based electronic market.
November 24, 2005 |
The New York Stock Exchange's deal to buy electronic trading company Archipelago Holdings Inc. is fair to NYSE seat holders, according to a fresh valuation of the deal by Citigroup Inc., the exchange said Wednesday. Citigroup also said it valued the planned combination of the companies at $5.1 billion to $6.2 billion, depending on which methodology is used -- far below the more than $9-billion valuation implied by Archipelago's closing stock price Wednesday of $58.50 a share.
August 9, 2000 |
The New York Stock Exchange has a new rival for trading shares of its listed companies: an automated system called Archipelago that this week gained access to the systems linking U.S. stock markets. Archipelago can now execute third-market, or off-exchange, orders for NYSE-listed stocks and display buy and sell orders on the Consolidated Quotation Service, the U.S. stock price reporting mechanism.