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BUSINESS
October 15, 2013 | By Andrew Tangel and Jessica Guynn
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.
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BUSINESS
October 15, 2013 | By Andrew Tangel and Jessica Guynn
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.
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BUSINESS
August 23, 2013 | By Andrew Tangel
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.
BUSINESS
August 23, 2013 | By Andrew Tangel
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.
BUSINESS
October 5, 2005 | From Bloomberg News
The Securities and Exchange Commission on Tuesday proposed granting exchange status to the Nasdaq Stock Market, a step that would allow the computerized trading system to gain independence from its parent, the NASD. The proposal may end a five-year logjam for Nasdaq, which was created as a NASD subsidiary in 1971. The shift in legal status, applied for by Nasdaq in 2000, would sever its ties with the NASD (formerly the National Assn.
BUSINESS
May 29, 2013 | By Andrew Tangel
NEW YORK -- Exchange operator Nasdaq OMX Group says it has put new safeguards in place in the year since it botched Facebook's initial public stock offering. As the U.S. Securities and Exchange Commission was announcing that Nasdaq had agreed to pay a $10-million penalty in the case Wednesday, Nasdaq Chief Executive Robert Greifeld issued an "open letter" on the matter. In the letter, Greifeld said Nasdaq "prepared extensively" for Facebook's May 18, 2012, IPO and conducted a battery of tests.
BUSINESS
December 29, 2006 | From Bloomberg News
Nasdaq Stock Market Inc. said Thursday that it would close Tuesday in honor of former President Ford. The New York Stock Exchange may shut down as well but had not announced plans as of late Thursday. A full-day closure for the NYSE, the world's largest stock exchange, would continue an almost four-decade tradition of marking presidents' deaths by halting trading for an entire day.
BUSINESS
December 20, 2006 | From Bloomberg News
The London Stock Exchange on Tuesday pledged to raise its dividend for next year by at least 50% as it asked shareholders to reject a "wholly inadequate" $5.3-billion hostile takeover offer from Nasdaq Stock Market Inc. The London exchange issued a bullish profit forecast for 2007, saying it expected its bottom line to rise more than 58%, which it said would support a higher cash dividend.
NEWS
May 21, 2012 | By Andrew Tangel
Facebook Inc.shares skidded on their second day of trading on Wall Street, falling below the initial public offering price of $38. The stock plunged more than 13% at several points during the day, and closed just above $34. A number of analysts on Wall Street have criticized the stock's performance, and blamed banks who advised Facebook for pricing the shares too high. There were also complaints that Facebook flooded the market by floating too many shares, and that insiders were cashing out.  However, the broader market moved higher after stocks were punished last week.
BUSINESS
March 25, 2013 | By Stuart Pfeifer
The Securities and Exchange Commission has approved Nasdaq OMX Group Inc.'s proposal to pay brokerages as much as $62 million as compensation for last year's botched Facebook Inc. initial public offering. Nasdaq's trading system was overwhelmed by high volume on the first day that Facebook's stock traded, delaying trade confirmations and contributing to a chaotic and costly day for investors in the social media company. By some accounts, Wall Street firms lost as much as $500 million because of Nasdaq glitches during the Facebook IPO last May. Brokerages complained that they didn't get confirmation that trades were going through, leaving investors in the dark about whether they owned the stock, or at what price.
BUSINESS
November 7, 2007 | From Times Wire Services
Nasdaq Stock Market Inc., the all-electronic exchange that handles the most shares in the U.S., plans to buy the Philadelphia Stock Exchange to enter the options business, two people familiar with the transaction said. Rumors of the deal helped drive Nasdaq's own shares to a record high Tuesday. The stock jumped $1.06 to $48.81. The price is up 58% this year -- at a time when shares of many other financial services companies have been hammered.
BUSINESS
March 31, 2006 | From Bloomberg News
Nasdaq Stock Market Inc. abruptly withdrew its $4.2-billion bid for London Stock Exchange on Thursday, abandoning an attempt to create the first transatlantic stock market. Nasdaq, the largest U.S. electronic equity market, is the third suitor in 14 months to walk away from the London exchange as Chief Executive Clara Furse, 48, holds out for more money. LSE's stock sank 6.8% to 1,043.5 pence ($18.21). Shares of Nasdaq fell $1.74 to $40.11.
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