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BUSINESS
June 21, 2013 | Alana Semuels and Andrew Tangel
This year's dizzying stock market rally was halted with the biggest one-day plunge of the year. The Dow Jones industrial average slumped almost 354 points Thursday amid fears that the economy will slow now that the Federal Reserve has signaled it will end its aggressive economic stimulus programs. Investors yanked $500 billion from the stock market during the brutal trading session, wiping out two months' worth of market gains. Though the blue-chip index is still up 15% from a year earlier, analysts have begun to question whether this week's sell-off could portend a deeper problem for investors.
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ENTERTAINMENT
April 15, 2014 | By Hector Tobar
There's something delightfully strange and counterintuitive about the way time operates in the opening chapters of Michael Lewis' new book, "Flash Boys: A Wall Street Revolt. " Lewis describes a new kind of Wall Street gold rush. In the entirely automated, pre- and post-crash stock market of the first two decades of the 21st century, human traders have become superfluous. Stocks are bought and sold inside computers, and a new brand of high-frequency trader is making a fortune thanks to a precious new commodity - speed.
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BUSINESS
April 30, 1989 | JESUS SANCHEZ, Times Staff Writer
You don't necesarily have to be high tech to be a hot stock. The high flyers on Wall Street included a wide range of California companies, among them the state's largest bank, a maker of swimming pools and fishing tackle, and an exotic lingerie maker. To be sure, the shares of California high-technology firms were among the fastest rising. Cadence Design Systems, a computer software company, saw its stock soar 119% for the year ended April 3. But Cadence was the only high-tech firm among the top 10 stocks on the "Charging Ahead" list that posted the greatest increases in value.
BUSINESS
April 10, 2014 | By Walter Hamilton
Another plunge in once-soaring technology stocks sent the Nasdaq composite index into a triple-digit decline and pushed the rest of the stock market down with it. Erstwhile darlings such as Netflix Inc. and Facebook Inc., as well as biotechnology highfliers such as Intercept Pharmaceuticals Inc., sank as investors rushed to cash in what remained of earlier profits. As of 10:55 a.m. Pacific, the Nasdaq composite index was down 107.50 points, or 2.6%, to 4,076.41. PHOTOS: Richest and poorest cities in America The Dow Jones industrial average skidded 176.57 points, or 1.1%, to 16,260.61.
BUSINESS
March 13, 2014 | By Walter Hamilton
There are more millionaires in the United States than ever before. The number of households with net worth of $1 million or more, excluding their homes, is at a record 9.63 million, according to a new report. That eclipses the old mark of 9.2 million in 2007 before the global financial crisis, according to the Spectrem Group research firm. The tally of millionaires slipped to 6.7 million in 2008 as the financial crisis struck. The study reinforces other data showing that the wealthy are doing well compared to many other segments of society.
BUSINESS
September 28, 2010 | Reuters
U.S. stocks rose Tuesday as latecomers jumped onto the September bandwagon, buying up sectors that have outperformed during the month. The S&P 500 has risen 9.4 percent so far in September, historically the worst month for stocks. "When a month takes you by surprise like this, you tend to be underexposed to stocks and overexposed in cash and bonds. And as the quarter comes to an end, people are rushing to at least have ownership of the stocks that have performed well and have a good outlook.
BUSINESS
March 8, 2012 | By Walter Hamilton
The rising stock market is making Americans richer. A powerful surge in stock prices that began in early October helped boost Americans' net worth 2.1% in the fourth quarter, according to data released Thursday by the Federal Reserve. Investor stock portfolios jumped nearly 10% in the final three months of the year, as the Standard & Poor's 500 index rose 11%. Overall net worth rose to $58.5 trillion, up nearly 20% from the early-2009 low that followed the global financial crisis.
BUSINESS
March 13, 2012 | By Walter Hamilton
It looks like actively managed stock funds can't beat the market -- even when the market itself is struggling. More than four out of five actively managed U.S. stock funds trailed their underlying indexes in 2011, even though the stock market plodded through an uninspiring year, according to new research . An analysis by Standard & Poor's Corp. found that 84% of funds underperformed last year. That's even worse than their dismal showings in the recent past. Over the last three years, 57% of funds trailed their indexes.
BUSINESS
May 18, 2012 | By Andrew Tangel
NEW YORK -- Facebook Inc. is just hours away from transforming itself into one of America's largest public companies in a splashy stock market debut that has been the talk of Wall Street. The social network is set to begin trading on the Nasdaq Stock Market at 8 a.m. Pacific time under the ticker symbol FB. It is set to become the second-largest initial public offering in history. The IPO will value Facebook at more than $104 billion, making it bigger than companies such as McDonald's and Amazon.com.
BUSINESS
May 7, 2013 | By Walter Hamilton
The Dow Jones industrial average is on a tear with the rest of the stock market, but valuations on stock prices are still reasonable. In a new report, research firm S&P Capital IQ argues that stocks are still fairly valued even though share prices lately have surged far faster than underlying corporate earnings. “Market valuations are appealing but not compelling,” Sam Stovall, the firm's chief equity strategist, concludes in the report. That's welcome news Tuesday, as the Dow Jones industrial average has jumped past 15,000 in early trading, part of a powerful rally that has sent stocks nearly straight up over most of the last six months.
BUSINESS
April 10, 2014 | By Walter Hamilton
A plunge in once-soaring technology shares sent Nasdaq into a triple-digit decline and yanked the rest of the stock market down with it. Erstwhile darlings such as Netflix Inc. and Facebook Inc., as well as biotechnology highfliers such as Intercept Pharmaceuticals Inc., sank Thursday as investors fled many names they had favored just a few weeks ago. The sell-off was less a result of economic developments as it was the hard reality of a...
BUSINESS
April 5, 2014 | Liz Weston, Money Talk
Dear Liz: I am in a new relationship with a great woman. I've talked a little bit about money and retirement with her (she's 30). I am trying to let her know that it would be wise to contribute at least enough to her company's retirement program to get the full match. What are some books or articles that would show her the importance of saving for retirement? I like her, but this can be a deal breaker for me. What is the best way to introduce her to personal finances without scaring her?
BUSINESS
April 2, 2014 | By Walter Hamilton
At a time when public trust in Wall Street already is at a low, new allegations about high-speed stock trading threaten to further erode confidence in the financial markets. The furor centers on accusations that professional traders armed with ultra-fast computers have rigged the stock market. High-speed firms engage in what critics say amounts to insider trading, using super-charged systems to decipher trading patterns. Criticism of high-frequency trading has long swirled in financial circles, and multiple regulators are conducting investigations.
SPORTS
March 21, 2014 | By Walter Hamilton
A week-long rally in the stock market carried the Standard & Poor's 500 index to an intraday record Friday morning, the latest indication that investors worry more about missing potential gains than suffering losses. Stocks have been buoyed this week by generally positive economic data that have eased concerns about the potential for interest rates to rise next year. Stocks also have overcome geopolitical tensions between the United States and Russia, brushing aside the brinkmanship over the future of Crimea and the Ukraine.
BUSINESS
March 14, 2014 | By Walter Hamilton
The stock market closed out its worst week since January, weighed down early by doubts about China's economic growth, uninspiring economic data in the U.S. and finally geopolitical tension in Russia. The Dow Jones industrial average slid 2.4% for the week, saddling it with a 3.1% loss so far this year. The index was off 43.22 points Friday, at 16,065.67, after skidding 231.19 points Thursday. The Standard & Poor's 500 index fell 2% for the week, leaving it down 0.4% for the year.
BUSINESS
March 13, 2014 | By Walter Hamilton
There are more millionaires in the United States than ever before. The number of households with net worth of $1 million or more, excluding their homes, is at a record 9.63 million, according to a new report. That eclipses the old mark of 9.2 million in 2007 before the global financial crisis, according to the Spectrem Group research firm. The tally of millionaires slipped to 6.7 million in 2008 as the financial crisis struck. The study reinforces other data showing that the wealthy are doing well compared to many other segments of society.
BUSINESS
August 2, 2010 | Reuters
U.S. stocks could do well this week if monthly jobs data, due out Friday, and corporate results paint a more promising picture of the recovery. The Standard & Poor's 500 index has been stuck in recent days amid recent weak economic data and disappointing outlooks from companies including technology firms Nvidia Corp. and Symantec Corp. The tech-heavy Nasdaq composite had the poorest performance of the three major indexes last week, and activity in the options market points to more volatility in the tech sector this week.
BUSINESS
February 19, 2014 | By Stuart Pfeifer
Hedge-fund manager David Einhorn is sounding a cautious tone about stocks. In a conference call with analysts, Einhorn said last year's massive run for stocks was fueled in part by misleading earnings reports. "In 2013 the market rewarded many companies beating earnings after they had lowered guidance," Einhorn said while discussing the performance of reinsurer Greenlight Capital Re, of which he is chairman. "This trend is not likely to continue indefinitely. " Photos: Top 10 Southern California companies Einhorn is one of the most respected and successful investors on Wall Street and the founder and president of the hedge-fund firm Greenlight Capital Inc. He said Greenlight Re benefited from holdings in Apple Inc. and Micron Technology Inc., but was hurt by short positions on Chipotle Mexican Grill Inc. and U.S. Steel Corp.
BUSINESS
March 4, 2014 | By Walter Hamilton
Moelis & Co., a boutique Los Angeles investment bank, filed for an initial public offering, seeking to capitalize on the soaring stock market and a recent pickup in corporate mergers. The firm was founded in 2007 by Ken Moelis, a longtime Southern California investment banker. The Century City-based firm would trade on the New York Stock Exchange under the ticker symbol MC. The firm has advised on a host of prominent deals in recent years, including representing the Dodgers and former owner Frank McCourt in the team's sale to Guggenheim Partners.
BUSINESS
February 19, 2014 | By Stuart Pfeifer
Hedge-fund manager David Einhorn is sounding a cautious tone about stocks. In a conference call with analysts, Einhorn said last year's massive run for stocks was fueled in part by misleading earnings reports. "In 2013 the market rewarded many companies beating earnings after they had lowered guidance," Einhorn said while discussing the performance of reinsurer Greenlight Capital Re, of which he is chairman. "This trend is not likely to continue indefinitely. " Photos: Top 10 Southern California companies Einhorn is one of the most respected and successful investors on Wall Street and the founder and president of the hedge-fund firm Greenlight Capital Inc. He said Greenlight Re benefited from holdings in Apple Inc. and Micron Technology Inc., but was hurt by short positions on Chipotle Mexican Grill Inc. and U.S. Steel Corp.
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