Tag Archives: NASDAQ
Facebook Share Price Dropped Over 13% On Second Day Of Trading
Over this past week, Nasdaq CEO Robert Greifeld acknowledged that he was embarrassed over the technical glitches in terms of the Facebook IPO. Today Facebook’s shares dropped over 13% and is currently trading at $34.10. Facebook’s share price closed at $38.23 on Friday. The reason why Facebook’s share price did not drop below $38 on Friday is because the underwriters stepped in and bought millions of shares to stabilize it. On Friday, Facebook’s market cap was around $104 billion and the share price caused it to fall to about $93 billion.
Categories Facebook, NASDAQ
Leave a comment
“This Was Not Our Finest Hour,” Says Nasdaq CEO Regarding Facebook IPO Glitch
Robert Greifeld, the CEO of the Nasdaq OMX Group Inc. has acknowledged that the Nasdaq’s technology design problems caused by order cancellations had interfered with Facebook’s IPO process. When Nasdaq conducted tests before the IPO, they failed to detect the problems.
(more…)
Categories Facebook, NASDAQ, Robert Greifeld
1 Comment
WATCH: Matt Miller Explains What Went Wrong On The NASDAQ During Facebook IPO
Bloomberg TV communications exec Jocelyn Austin sent Pulse2 the above video of Matt Miller explaining what went wrong on the NASDAQ during the Facebook IPO. Shares in Facebook climbed to $45 before closing at $38.23, a mere $0.23 above the opening price. The underwriters of the deal appeared to have been buying hundreds of millions of shares to support that $38 price. What will happen on Monday when the underwriters are not backing up Facebook’s stock is the biggest question for the social networking company.
Categories Facebook, Jocelyn Austin, NASDAQ
1 Comment
Apple is the Most Valuable Company in the World
Apple (AAPL) is now the world’s most valuable company, surpassing Exxon Mobil (XOM) around 1:22pm today trading at more than $367 a share with a valuation of more than $341 billion. [Mashable]
Categories Apple Inc., Exxon Mobil, NASDAQ, NYSE
Leave a comment
Nasdaq Rebalancing 100 Index To Reduce Apple’s Influence
The Nasdaq had announced this morning that they are rebalancing the Nasdaq 100 Index to lower the influence of Apple Inc. (NASDAQ:AAPL) on behalf of companies like Google, Cisco, Microsoft, and Oracle. The Nasdaq said that the goal was to make the weight of the Index Securities closer to the actual market capitalizations of the companies involved in the 100 Index. The weight of Apple in the index is over 20%. In the past two years, Apple’s share have been up over fourfold. The rebalancing will take place on May 2nd and Apple will only make up 12% of the Nasdaq-100. [GeekWire]
Categories Apple Inc., NASDAQ
2 Comments
NASDAQ Announces Smartphone Index Through CEA Partnership
NASDAQ and the Consumer Electronics Association has announced the NASDAQ OMX CEA Smartphone Index. The Index combines a portfolio of 84 companies that are working on “building, design and distribution of handsets, hardware, software, and mobile networks associated with the development, sale and usage of smartphones.” Companies include Motorola, Google, Apple, RIM, Nokia and AT&T.
(more…)
Categories Apple Inc., AT&T, AT&T Inc., Consumer Electronics Association, Google, John Jacobs, Motorola, NASDAQ, Nokia, Research In Motion, RIM
Leave a comment
Glitch Hits Intel and Oracle Stock, After Hours Stock Price Showing About -50% [Updated]
[Updated 9:22 AM EST - Both companies appear to be fixed during the pre-market, Intel is at $15.76 and Oracle is at $19.45]
In September 2008, Google stock appeared to be trading at $0.01 temporarily when it should have been over $400. The glitch had to be investigated by Nasdaq Stock Market operators and it resulted from erroneous orders that were routed from another exchange. This time it looks like a similar case is happening with Intel Corporation (NASDAQ:INTC) and Oracle Corporation (NASDAQ:ORCL).
In the after hours stock price, Intel is reporting a $7.91 per share which is -49.52% from the closing price. Oracle is showing an after hours stock price of $9.63 per share which is -49.77% of the closing price. When this happened with Google last time any trades that took place at the $0.01 price were automatically canceled was not allowed to be appealed. As exchanges are becoming all-electronic they are susceptible to problems.
If anyone has any additional information, please let us know in the comments.
Categories Intel, NASDAQ, Oracle Corporation
2 Comments