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BUSINESS
August 2, 2012 | By Ryan Faughnder
Facebook's stock price reached a new low Thursday as shares of the world's largest social network fell below $20 for the first time, down by nearly half from its $38 initial public offering price. The company's shares at one point dipped to $19.95, before coming back up slightly. At last check, the stock was worth $19.99 per share. The continuing slide of the stock price comes on the heels of worries over Facebook's revenue growth, marketing costs and mobile business. Shares of the company have fallen about 26% since it posted a loss of $157 million in its first quarterly earnings report last week.
ARTICLES BY DATE
BUSINESS
April 6, 2014 | By Walter Hamilton
The stock market is hitting new highs - just as corporate profit growth is slowing to a crawl. Rising earnings helped drive share prices to a series of record peaks in the last few years. But that dynamic could be tested this week when companies such as Alcoa Inc. and JPMorgan Chase & Co. begin releasing first-quarter results. Quarterly profits are expected to drop for just the second time in four years. The decline would be relatively small: 1.2% for companies in the Standard & Poor's 500 index, according to FactSet Research Systems.
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ENTERTAINMENT
July 31, 2012 | By Alex Pham
When it rains, it pours. Zynga's shares hit a new low Tuesday after news of a lawsuit filed Monday by shareholder Mark DeStefano began to circulate. Such suits are common after a company's stock price nosedives, as Zynga's did last Wednesday following a bleak second-quarter earnings report. The following day, the San Francisco game company's shares dropped 37% to $3.18 , down from $5.08 the day before. Zynga closed at an all-time low of $2.96, down 6 cents, Tuesday. That compares with Zynga's $10 per share initial public offering price when the stock debuted on the stock market in December, and a high of $14.69 on March 2. While revenue grew 19% from a year earlier to $332.5 million in the quarter, Zynga swung to a loss of $22.8 million compared with a profit of $1.4 million a year earlier.
BUSINESS
February 14, 2014 | By Shan Li
Occidental Petroleum, the longtime Los Angeles-based energy giant, announced Friday that it would move its headquarters to Houston and spin off its California assets into a separate company. The latest move is part of the company's strategic overhaul as it seeks to bolster its profitability and share price after falling behind competitors in recent years. The move signals the end of a storied run for Occidental in Los Angeles, where it was founded nearly a century ago and grew into the nation's fourth-largest oil company.
BUSINESS
December 12, 2012 | By Tiffany Hsu
SolarCity Corp. expanded the size of its highly anticipated initial public offering but knocked down the share price in what analysts said was a bid to boost investor demand. The San Mateo company said in a Wednesday filing with the Securities and Exchange Commission that it plans to sell 11.4 million shares at $8 apiece. That values the company, which is one of the country's largest providers and installers of residential and commercial solar power generating systems, at about $584.6 million.
BUSINESS
November 15, 2000 | Dow Jones
Masimo Corp. said Tuesday that its underwriters have set its pending initial public offering at 5 million shares with a price range of $11 to $13 a share, a range that would fetch a total of $55 million to $65 million. The offering, filed with the Securities and Exchange Commission, will constitute nearly 27% of the 18.6 million shares outstanding, suggesting a total market capitalization of up to $241.
BUSINESS
April 9, 1998 | Dow Jones
Broadcom Corp., which makes high-speed chips and is planning to go public next week, boosted the estimated price range for its initial stock offering by 80%. The price estimate was increased to $18 to $20 a share, said an official at Morgan Stanley Dean Witter, the lead underwriter for the offering. Broadcom originally estimated the initial offering price at $10 to $12. "It's a rare phenomenon," said Richard Peterson of Securities Data Corp., a New Jersey data research firm.
BUSINESS
June 20, 2007 | From Times Wires Services
Online travel company Expedia Inc. said Tuesday that it would buy back more than a third of its shares for as much as $3.5 billion, paying a premium of at least 8% over the stock's closing price Monday. Expedia said it would repurchase 116.7 million shares at $27.50 to $30 each. The news sent Expedia shares up $3.64, or 14%, to $29.14. The price range that Expedia is willing to pay represents a premium of 8% to 18% over Monday's closing price of $25.50 a share.
CALIFORNIA | LOCAL
January 12, 1999 | KAREN ROBINSON-JACOBS
If you assembled an All-Star team that included a third baseman, a beautician, an accountant and an acrobat, you'd be approaching the variety of this year's top 10 San Fernando Valley-area publicly traded companies. The much-discussed diversity of the Valley's business community is immediately evident as you glance at the list of companies with the region's top performing stocks: a group that includes a jeweler, a baker and an insulin pump maker.
BUSINESS
January 9, 1999 | JONATHAN GAW, TIMES STAFF WRITER
Costa Mesa communications company Harrison Digicom Inc. said Friday it has been the victim of a stock manipulation scheme that cut its shares to less than half their original price. Harrison, whose stock trades over-the-counter, said it put on hold a $1-million private placement when it discovered that a company taking part in the placement was using an offshore brokerage firm to dump the stock and drive down the price so it could be bought cheaply.
BUSINESS
December 3, 2013 | By Walter Hamilton and Andrew Tangel
The stock market suffered its first three-day losing streak since late September, an indication that share prices may have gotten ahead of themselves in this year's furious rally. The Dow Jones industrial average slid below 16,000 as portfolio managers appeared to lighten their holdings to lock in annual gains. The nation's most-watched barometer for stocks slipped 94.15 points, or 0.6%, to 15,914.62. Meanwhile, the broader Standard & Poor's 500 index dipped below 1,800, sagging 5.75 points, or 0.3%, to 1,795.15.
BUSINESS
October 29, 2013 | By Walter Hamilton and Tiffany Hsu
It didn't matter that consumer confidence slumped or that retail sales were weak. The stock market barreled to new highs anyway. The nation's two closely watched stock barometers - the Dow Jones industrial average and Standard & Poor's 500 index - hit new all-time highs Tuesday. Investors shrugged off disappointing economic data ahead of the holiday shopping season. The Dow jumped 111.42 points, or 0.7%, to 15,680.35. The S&P 500 climbed 9.84 points, or 0.6%, to 1,771.95.
BUSINESS
October 25, 2013 | By Walter Hamilton and Andrew Tangel
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.
BUSINESS
October 24, 2013 | By Jessica Guynn
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.
ENTERTAINMENT
October 10, 2013 | By Ryan Faughnder
The Delaware Supreme Court has overturned a ruling that halted video game publisher Activision Blizzard and a group of investors from buying most of Vivendi's majority stake in the company. The unanimous Thursday decision clears the way for Santa Monica-based Activision -- the company behind the "Call of Duty" franchise -- and the investor group to close the $8.2-billion deal that will leave Paris-based Vivendi with a 12% stake in the company.   This reverses last month's decision by the Delaware Chancery Court that preliminarily enjoined the transaction after Douglas Hayes, an Activision shareholder, sued the company, Vivendi and the investor group. In the suit, Hayes contended the deal should have been put to Activision's shareholders for a majority vote.  PHOTOS: Hollywood Backlot moments In an order, the Delaware high court's chief justice Myron T. Steele said Thursday the transaction does not require the approval of non-Vivendi shareholders.  Shares of Activision rose nearly 5% to $17.05.
BUSINESS
October 1, 2013 | By Chris O'Brien
Shareholder activist Carl Icahn broke bread with Apple Chief Executive Tim Cook on Monday to make his case that the company's record stock buyback program was still not enough. Icahn revealed in August that he had purchased about $1 billion worth of Apple's shares. Earlier this year, Apple announced that it had increased its dividend and stock buyback program to more than $100 billion, including $60 billion to buy back shares of the company's stock. Icahn said in his tweet Tuesday that he wants to see the buyback portion increased even further:    Had a cordial dinner with Tim last night.
BUSINESS
April 20, 2001 | Dow Jones
Coffeehouse chain Diedrich Coffee Inc. said Thursday that a Nasdaq hearing panel has given the Irvine specialty coffee retailer more time to regain compliance for continued listing on the Nasdaq National Market. Diedrich said in a press release that to comply with Nasdaq requirements, it must maintain a closing bid price of at least $1 a share by May 14, then a closing bid price of at least $1 a share for a minimum of 10 consecutive days after that.
BUSINESS
July 7, 2000 | Bloomberg News; Times Staff
Investors decided Thursday that shares of Gap Inc. and some other battered retailers have been punished enough. Gap stock jumped $3.50 to $33.38, even though it warned that fiscal second-quarter profit would come in below the Wall Street consensus after June sales at stores open at least one year fell 2%. Analyst Sharon Pearson of Morgan Stanley Dean Witter said she had anticipated the 2% drop, "but other people were expecting it to be greater than that.
BUSINESS
September 19, 2013 | By Salvador Rodriguez
In one of the few interviews Tim Cook does each year, the Apple CEO said it was never the company's intention to make a low-cost iPhone and compete with others in the "junk business. " Speaking with Bloomberg Businessweek , Cook addressed complaints from investors about the cost of the iPhone 5c, a low-cost version of the popular Apple smartphone that many originally believed was aimed at customers in emerging markets such as China. The iPhone 5c is $100 cheaper than the iPhone 5s, but it's still far more expensive than other smartphones on the market.
ENTERTAINMENT
September 12, 2013 | By Ryan Faughnder
The Walt Disney Co. will repurchase up to $8 billion in stock next year, giving a major boost to investor returns, the company's chief financial officer Jay Rasulo said Thursday.  In remarks at the Bank of America Merrill Lynch 2013 Media, Communications & Entertainment Conference in Beverly Hills, Rasulo cited confidence in the return on Disney's investments, the overall company, and its stock price, which has increased 25% to $65.49 a share...
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