October 25, 2013 |
The stock market has maintained its smooth upward pace since the government shutdown ended in mid-October. Perhaps too smooth. The record-breaking run that continued Friday is unnerving some on Wall Street who worry that stock prices are getting ahead of themselves. The market sailed to its third straight weekly gain with the Standard & Poor's 500 index notching a fresh high and the Dow Jones industrial average nearing a new peak. The Dow climbed 61.07 points, or 0.4%, to 15,570.28.
October 24, 2013 |
SAN FRANCISCO -- Twitter priced its hotly anticipated initial public offering at $17 a share to $20 a share on Thursday in a deal that could value the company at up to $11 billion. Twitter said it would sell 70 million shares. If those are sold, the underwriters can buy another 10.5 million shares. In all, the San Francisco company could raise as much as $1.6 billion. The price range is lower than Twitter's most recent prices on the secondary market. Shares there were trading at between $26 and $28. Twitter issued shares for restricted stock units in August for $20.62.
October 24, 2013 |
SAN FRANCISCO - Twitter has set the price range of its hotly anticipated initial public offering between $17 and $20 a share, with hopes of raising as much as $1.4 billion. At $20 a share, Twitter would be valued at about $11 billion. That valuation is lower than the $15 billion that some analysts had expected. In addition to the pricing range disclosed in a filing with the Securities and Exchange Commission on Thursday, Twitter is accelerating its timetable and is now aiming to price its offering on Nov. 6 and begin trading the following day, a person familiar with the timing said.
October 22, 2013 |
At an event in San Francisco on Tuesday, Apple announced new versions of its Retina MacBook Pro laptops and said its redesigned Mac Pro computer will go on sale "before the end of the year. " The Cupertino, Calif., tech giant said the black, cylinder-shape Mac Pro, which was announced last summer, will start at $2,999 for a 256 GB model with 12 GB of RAM. The Mac Pro, which uses an Intel Xeon E5 processor, will be assembled in the U.S. LIVE UPDATES: Apple announcement -- iPad, Mavericks OS X, more Apple marketing chief Phil Schiller also unveiled the company's second-generation 15-inch Retina MacBook Pro, which goes on sale Tuesday.
CALIFORNIA | LOCAL
October 22, 2013 |
The rise in tuition at public colleges slowed this year to the smallest increase in more than three decades, although financial aid has not kept pace to cover the hikes, according to a College Board study released Wednesday. At public four-year colleges and universities across the country, the average price for tuition and fees rose 2.9% this year - the smallest annual rise in 38 years - to $8,893 for in-state students, the report said. Room and board adds about $9,500. However, analysts urged students and families to pay closer attention to what they described as the more important figure: the net average cost after grants, tax credits and deductions.
October 21, 2013 |
Despite the upswing in ticket sales this summer, average movie ticket prices in the U.S. dropped in the third quarter to $7.84. That's down from $8.38 in the second quarter and below the average of $8.05 so far this year, according to figures from the National Assn. of Theatre Owners. (Ticket prices, however, were still higher than the third quarter in 2012, when the average price was $7.78). The trade group's figures are based on a national average and include lower-priced matinee tickets.
October 21, 2013 |
Cash-strapped consumers finally have some good news to toast -- perhaps with a steaming cup o' joe. The price of coffee beans hit a four-year low on Monday. Dry weather has improved growing conditions in Brazil, the world's largest producer and exporter. Globally, production is set to exceed demand for a fourth straight season, pushing coffee inventories to a five-year high, according to the U.S. Department of Agriculture. The glut is helping to cut costs for Starbucks Corp.
October 19, 2013 |
LONDON -- The violin believed to have belonged to the bandleader on the Titanic fetched nearly $1.45 million at auction Saturday, becoming far and away the most expensive piece of memorabilia associated with the ocean liner ever to be sold. The British auction house Henry Aldridge & Son had originally expected the battered-looking instrument to sell for a third of that amount. But the legend surrounding the fiddle, its embodiment of the heroic self-sacrifice of a band that famously kept playing as the ill-fated ship met its watery doom, boosted bidding to stratospheric levels.
October 18, 2013 |
A day after announcing plans to raise prices in 2014, Chipotle Mexican Grill watched its stock surge in intra-day trading to an all-time high. The stock reached $511.10 a share on Friday before closing up 16%, or $70.67, at $509.74. Investors were cheered by the fast-casual chain's decision to charge more for food next year. Executives said an increase in the "mid-single digit range," landing in the middle of the year, "is a reasonable assumption. " It's "likely that the entire menu will be touched," said Chief Financial Officer John Hartung in a conference call with analysts Thursday.
October 17, 2013 |
Home prices and sales fell last month in the Bay Area as the tech-rich region mirrored a cooling trend elsewhere within the state. The median home price in the nine-county region fell 1.9% from August to $530,000, while sales dropped 17.1% -- a steeper fall than the normal seasonal slowing, research firm DataQuick said Thursday. It was the second straight month that the median decreased. QUIZ: How much do you know about mortgages? Home prices shot up dramatically earlier this year as investors and families battled over few available homes amid rock-bottom mortgage rates.