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NEWS
October 22, 2010
Encorium Group Inc., a Wayne clinical research company, said its stock was delisted from the Nasdaq stock market, effective today, because it did not meet the minimum $2.5 million stockholder-equity requirement. As of June 30, its stockholder equity was minus-$620,000. Stockholder equity is a company's net worth after all liabilities. The shares immediately began trading on the electronic over-the-counter pink sheets, which have lower listing requirements. The ticker symbol will remain ENCO.
BUSINESS
January 25, 2013 | By Matthew Craft, Associated Press
NEW YORK - A sharp drop in Apple's stock pulled the Nasdaq down with it after the tech giant warned of weaker sales. Other stock-market indexes eked out slight gains. Apple sank $63.50 to $430.50. With iPhone sales hitting a plateau and no new products to introduce, Apple said sales would likely increase just 7 percent in the current quarter. That's a letdown for a company that has regularly posted growth rates above 50 percent. The Standard & Poor's 500 index edged up 0.01 of a point to 1,494.82.
BUSINESS
March 1, 2012 | By Daniel Wagner, Associated Press
The Nasdaq composite index briefly broke through 3,000 on Wednesday for the first time since the collapse in dot-com stocks more than a decade ago. Stocks ended lower, but it was still the best February on Wall Street in 14 years. The milestone for the Nasdaq, heavy with technology stocks, came a day after the Dow Jones industrial average closed above 13,000 for the first time since May 2008. The Nasdaq last hit 3,000 on Dec. 13, 2000. Its last close above 3,000 was two days earlier.
BUSINESS
January 6, 2000 | by Marc Meltzer, Daily News Staff Writer
A key market strategist said yesterday that the Nasdaq composite index, dominated by technology stocks, will continue its upward climb for most of 2000. The index, which recovered yesterday from its battering on Tuesday, will continue to encounter rough-going until early next month. But the longer-term prognosis is good for the rest of 2000. "The balance of 2000 looks good for the sector," said Andrew Barrett, technology equity strategist for Salomon Smith Barney. Yesterday, the Dow Jones industrials closed sharply higher.
NEWS
April 26, 2012
WASHINGTON - A Pentagon official signaled on Wednesday that the Army could lay off as many as 24,000 enlisted personnel and up to 5,000 officers within five years to meet a projected reduction in the force driven by budget cuts and the winding down of two wars. Pressed on the possibility of involuntary terminations, Thomas Lamont, an assistant secretary of the Army, told a Senate Armed Services panel that layoffs were possible as the Army shrinks from a peak of 570,000 to 490,000.
BUSINESS
May 31, 2007 | By Miriam Hill INQUIRER STAFF WRITER
Verticalnet Inc. says it has received a letter from Nasdaq saying the Malvern company is subject to delisting for failing to meet certain capital and net-income requirements. Nasdaq wrote May 23 that Verticalnet needed to maintain minimum stockholder equity of $2.5 million, a market value of $35 million for listed securities, or $500,000 in net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.
BUSINESS
January 28, 1995 | By Andrew Cassel, INQUIRER STAFF WRITER
Another area savings bank finished making the transition from a mutual to a stock form of ownership this week, giving its initial investors some modest reasons to smile at the results. The newly issued stock of First Keystone Federal Savings Bank, based in Media, rose as much as 5 percent in its first two days of trading on the Nasdaq exchange, hitting a high of $10.50 per share. The stock closed yesterday at $10.50. Depositors and others who bought the stock in the initial public offering paid $10 a share.
BUSINESS
April 21, 2012 | By Matthew Craft, ASSOCIATED PRESS
NEW YORK — Stronger profits from Microsoft, McDonald's and other major U.S. corporations pushed stocks higher Friday. Optimism from Europe helped brighten the mood. Before the market opened, McDonald's posted better quarterly profits, buoyed by warm weather and sales of new menu items such as Chicken McBites and oatmeal. Sales picked up even in Europe, McDonald's' biggest market, despite economic turmoil and severe weather. Microsoft beat analysts' projections with quarterly earnings and revenue, and sales in its Windows division were surprisingly strong.
BUSINESS
January 2, 2000 | By Miriam Hill, INQUIRER STAFF WRITER
What's next, Nasdaq 10,000? It seems a reasonable question for Wall Street bulls to ask about a stock-market index that since 1995 has powered past the 1,000, 2,000, 3,000 and, as of Wednesday, 4,000 barriers as if it were the Concorde on a rush flight to Paris. Others urge caution, but their warnings are muffled by the market's big gains. It was, of course, the standard-bearer Dow Jones industrial average - not the Nasdaq - that first closed above 10,000 in March and 11,000 in May. But for those who believe that investors are witnessing the creation of a new digital economy, the Nasdaq, fueled by technology stocks, could continue to outrun the Dow well into 2000.
BUSINESS
April 4, 2000 | By Miriam Hill, INQUIRER STAFF WRITER
A swift decline in shares of Microsoft Corp. slammed the Nasdaq composite index down 349.15 points yesterday for the biggest-ever point drop since the index began in 1971. The close, at 4,223.68, was a 7.6 percent drop, the fifth-worst percentage drop ever. But what was bad for the tech-heavy Nasdaq was good for other market measures as investors shifted money out of technology stocks and into more traditional companies such as J.P. Morgan & Co., American Express Co., and Wal-Mart Stores Inc. The Dow Jones industrial average gained 300.01 points, closing at 11,221.
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BUSINESS
July 7, 2014 | By David Sell, Inquirer Staff Writer
The business world is swirling, with IPOs and M&A. Philly50 prefers IPAs, M&Ms, and chocolate-and-vanilla swirl, but the list of the largest area companies has three changes midway through 2014 because of all that business activity. The key criteria for inclusion in the Philly50 are a headquarters in the Philadelphia region and market capitalization. The additions are Incyte Corp. at No. 12, Navient Corp. at No. 15, and Penn Virginia Corp. at No. 50 The deletions are Quaker Chemical Corp., Beneficial Mutual Bancorp Inc., and Auxilium Pharmaceuticals Inc. Incyte, which trades under the ticker symbol INCY on the NASDAQ, is a pharmaceutical company with headquarters in Wilmington.
BUSINESS
June 6, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
When prices flicker and trading stalls in America's stock markets, the people who run the New York Stock Exchange, Nasdaq, and new online trading hubs are summoned to explain what went wrong. They go not just to the Securities and Exchange Commission headquarters in Washington, but to an office in the former Lit Bros. department store on Philadelphia's Market Street, where lawyer Daniel M. Hawke heads the SEC's three-year-old Market Abuse Unit. Hawke's group ran the investigation that resulted in last week's record $10 million fine against the Nasdaq for bungling thousands of orders in Facebook's initial public offering in 2012.
NEWS
March 5, 2013 | By Martha Woodall, Inquirer Staff Writer
  An educational foundation affiliated with the Nasdaq stock market has given Springside Chestnut Hill Academy a one-year grant to support its new Center for Entrepreneurial Leadership. The private school in Chestnut Hill was scheduled to announce the $50,000 grant from the Nasdaq OMX Educational Foundation on Monday. The foundation, which supports innovative education and charitable activities, said the grant was its first to a private college preparatory school. Dick Hayne, founder and chief executive officer of Urban Outfitters, gave the school $5 million last year to help launch the center, which gives students academic experiences to help prepare them to become innovative leaders and imaginative problem-solvers.
BUSINESS
February 24, 2013 | By Daniel Wagner, Associated Press
Strong earnings from big U.S. companies pushed the Dow Jones industrial average to a rare triple-digit gain Friday, but the S&P 500 index still posted its first weekly loss of the year. Hewlett-Packard had the biggest gain in the Dow and the Standard & Poor's 500 index. It posted fiscal first-quarter earnings late Thursday that beat all forecasts, a relief after months of bad news for the computer maker. H-P rose $2.10, or 12.3 percent, to $19.20. Cabot Oil & Gas Corp. was the S&P 500's second-best performer, jumping a day after reporting earnings that beat analysts' expectations.
BUSINESS
January 25, 2013 | By Matthew Craft, Associated Press
NEW YORK - A sharp drop in Apple's stock pulled the Nasdaq down with it after the tech giant warned of weaker sales. Other stock-market indexes eked out slight gains. Apple sank $63.50 to $430.50. With iPhone sales hitting a plateau and no new products to introduce, Apple said sales would likely increase just 7 percent in the current quarter. That's a letdown for a company that has regularly posted growth rates above 50 percent. The Standard & Poor's 500 index edged up 0.01 of a point to 1,494.82.
NEWS
December 29, 2012
WPCS International Inc., the Exton-based communications engineering firm, said the Nasdaq Stock Market is giving it another 180 days to regain compliance with Nasdaq's $1-per-share minimum requirement to avoid delisting. Shares closed unchanged Friday at 36 cents. The company originally had until Dec. 24 to achieve compliance. The new deadline is June 24.    - Inquirer staff
BUSINESS
December 8, 2012 | By Christina Rexrode, Associated Press
NEW YORK - Apple spoiled the stock market's party on Friday. Stocks shot higher in the early morning, after the government reported that the United States added jobs in November. But Apple Inc., which has been flailing in recent weeks as investors wonder how long its momentum can continue, dragged down certain indexes. The Dow Jones industrial average, which doesn't include Apple, rose 81.09, or 0.6 percent, to close at 13,155.13. The Standard & Poor's 500 and Nasdaq, which do, were less impressive.
NEWS
October 9, 2012
NEW YORK - Investors looked warily on Monday at forecasts for poor U.S. corporate earnings and weaker growth in Asia and decided that there wasn't much reason to buy stocks. The Dow Jones industrial average gave up 26.50 points to close at 13,583.65 points The Standard & Poor's 500 index fell 5.05 points to 1,455.88 and the Nasdaq composite lost 23.84 points to 3,112.35. Companies in the S&P 500 index are expected to post an overall decline in profits for the first time in 11 quarters, according to FactSet.
BUSINESS
September 1, 2012 | Associated Press
Stocks gyrated after Federal Reserve chairman Ben Bernanke spoke on Friday morning. They first gave up their morning gains, then bolted to their highs for the day, before settling in-between. The Dow Jones industrial average ended the day up 90.13 points at 13,090.84. A half-hour after trading began, Bernanke declared that the Fed is ready to take more action to help an economy that's "far from satisfactory. " Stocks rebounded once investors parsed his comments. At one point the Dow was up as many as 151 points.
BUSINESS
August 9, 2012 | By Daniel Wagner, Associated Press
A stock market rally lost steam Wednesday after mixed earnings from U.S. companies added to fears about Europe's economic slowdown. Several big consumer-goods companies warned that weak demand in Europe was cutting into their revenue. That followed worrisome economic news from England, France and Germany, where growth had offset recessions in countries such as Italy and Greece. Major U.S. stock indexes closed little changed. The Dow Jones industrial average finished up 7.04 points, or 0.1 percent, at 13,175.64.
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