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October 16, 2008 | Erika Hayasaki, Times Staff Writer
Just after 9 a.m. Wednesday, the glass doors on the trading floor of the New York Stock Exchange burst open, and the symphony begins. "How's Cisco?" a trader shouts. "What are you saying on Goldman?" yells another. "Let's go! Let's go!" Feet shuffle, fans whoosh, televisions blare, cameras click, electronic devices chime like slot machines. No one knows what today will bring.
October 11, 2008 | Erika Hayasaki and Matea Gold, Times Staff Writers
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 3, 2008 | From Times Wire Services
Six Flags Inc., the second-largest U.S. amusement-park chain, said it was not in compliance with the listing standards of the New York Stock Exchange because its share price has declined. As a result, Six Flags may consider a reverse stock split, the company said. The NYSE requires companies to have a closing price averaging more than $1 over a 30-day period. Six Flags' average 30-day price was 96 cents as of the close of trading Thursday.
July 28, 2008 | From Bloomberg News
KKR & Co., the private equity firm run by Henry Kravis and George Roberts, plans to go public in a transaction that may value it at as much as $15 billion, according to two people familiar with the matter.
March 25, 2008 | From Times Wire Services
The U.S. Supreme Court on Monday refused to open the New York Stock Exchange to private lawsuits accusing it of failing to enforce its own rules. The justices rejected an appeal by the California Public Employees' Retirement System, which sought to revive accusations that the NYSE let its "specialist" firms trade for their own accounts ahead of clients. CalPERS' suit stemmed from a 2003 scandal in which regulators accused seven specialist firms -- companies that execute trades for investors on the NYSE floor -- of fraud.
March 21, 2008 | From Times Wire Services
Bearish bets on the New York Stock Exchange hit another record high at mid-month. The number of NYSE shares sold "short" soared to 16 billion as of March 14, up 7% from 14.9 billion on Feb. 29 and up 26% since year-end, the exchange said Thursday. Traders who sell securities short typically are betting that prices will fall. A short-seller borrows shares and sells them, hoping to buy back the stock at a cheaper price later to repay the lent shares. If the bet is correct, the trader's profit is the difference between the sale price and the repurchase price.
January 18, 2008 | From Bloomberg News
NYSE Euronext, owner of the New York Stock Exchange, agreed Thursday to buy the American Stock Exchange for $260 million to capture a bigger share of the fast-growing markets for trading options and exchange-traded funds. Under the deal, members of the 165-year-old Amex would receive shares of NYSE Euronext as well as proceeds from the sale of the Amex building in Manhattan.
January 10, 2008 | From Times Wire Services
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.
November 22, 2007 | From Bloomberg News
The volume of shares sold short on the New York Stock Exchange rose 3.8% in the first two weeks of November, the exchange said Wednesday, suggesting an increase in bearish sentiment in the stock market. As of Nov. 15, NYSE short interest rose to about 12.39 billion shares, up from 11.93 billion shares as of Oct. 31, marking the largest increase in short interest since mid-July. Investors who sell securities "short" typically are betting that stocks will fall.
November 15, 2007 | Walter Hamilton, Times Staff Writer
Merrill Lynch & Co., which ousted its chief executive last month after huge mortgage-related losses, on Wednesday named John Thain, the head of the New York Stock Exchange's parent company, as its new CEO. Thain, 52, is a Wall Street veteran with extensive experience in trading and technology, including a stint running the mortgage business at Goldman Sachs Group Inc. in the 1980s. He is expected to overhaul Merrill's fixed-income division, which was responsible for the $7.
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