October 8, 1999 |
Regulators are taking aim at potential conflicts of interest in the highflying market for new stock issues with a rule proposed Thursday by the National Assn. of Securities Dealers. The NASD, the chief self-regulatory group for the securities industry, said its board approved new rules aimed at ensuring that brokerages don't distribute shares of newly public companies to individuals who are in a position to give the firms future business.
September 8, 1999 |
The year 2000 will begin with "business as usual" in U.S. securities markets, a phalanx of top-ranking regulators, stock market chiefs and other officials asserted at a news conference in Washington on Tuesday. The officials, including the heads of the Securities and Exchange Commission, the New York Stock Exchange and the National Assn.
July 23, 1999 |
Interest rate warnings from Federal Reserve Chairman Alan Greenspan on Thursday added to an already nervous mood on Wall Street, where some investors are hunkering down for a midsummer swoon. Stocks and bonds both lost ground Thursday. And with the dollar tumbling to a five-month low against the Japanese yen--the opposite of what Japanese officials think is good for their struggling economy--Tokyo's Nikkei-225 share index fell nearly 3% to 17,730. The Dow industrials eased 33.
July 14, 1999 |
Online service provider Internet Initiative Japan reportedly plans to go public on the U.S. market in what would be the first case of a Japanese firm listing shares abroad before doing so at home. The company hopes to raise about $150 million in its share offering, which may come as early as August on Nasdaq, the Nihon Keizai Shimbun, Japan's leading business daily, reported Tuesday evening.
June 16, 1999 |
Here's a good reason why Wall Street isn't more afraid of what the Federal Reserve might do soon with interest rates: Corporate earnings growth is expected to be stellar in both the second and third quarters. Earnings tracker First Call is estimating that the companies in the blue-chip Standard & Poor's 500-stock index will show 15% earnings growth in the current quarter and 20% in the third quarter, on average.
February 11, 1999 |
Top Wall Street players expressed broad support Wednesday for a bill to overhaul the Depression-era banking laws even as a new rift opened up among lawmakers. Leaders of the banking, securities and insurance industries coalesced around H.R. 10, legislation resurrected from last year's Congress that would allow one-stop shopping for a host of financial services. "The outstanding issues are few and resolvable," David Komansky, chairman and chief executive of Merrill Lynch & Co.
January 27, 1999 |
The sky-high stock market, which rallied again on Tuesday, is getting support from an important source: corporate earnings. At the midway point of the 1998 fourth-quarter profit reporting season, market watchers say they're pleasantly surprised by the numbers so far, though hardly giddy. "This is encouraging but not conclusive," said Marshall Acuff, equity strategist at brokerage Salomon Smith Barney in New York.
January 22, 1999 |
Amid more signs that many small investors--and corporate insiders--are bailing out, Internet stocks tumbled again Thursday, leading a broad decline on Wall Street. That left many Wall Streeters wondering whether the Internet stock bubble has burst--or if this decline, like others that have hit the sector over the last two years, will be only a temporary pullback followed by another surge. The technology-laden Nasdaq composite index endured the brunt of the sell-off, sliding 70.77 points, or 2.