May 17, 2013 |
The revelation this week by the film star Angelina Jolie of a double mastectomy to help avoid breast cancer had business and legal angles as well. Myriad Genetics, the Utah company at the center of a legal debate about the acceptability of gene patenting, has a monopoly on the testing Jolie underwent before opting for surgery. With the news about Jolie breaking Tuesday morning, the company's stock rose to a three-year high of $34.70 during trading on the NASDAQ before closing at $34.10.
March 24, 2013 |
Strong earnings boosted stocks Friday as investors also saw a chance to add to their holdings after declines earlier in the week. Nike reported a surge in quarterly profit, sending its stock price to a record. Tiffany topped earnings predictions, boosted by demand in Asia. A resilient global economy has encouraged investors to pick up stocks on any dips, said Ron Florance of Wells Fargo Private Bank. "We still have an astonishing amount of money sitting on the sidelines," he said.
March 21, 2013 |
Fear of a revived debt crisis in Europe faded from the stock market Wednesday, freeing the Dow Jones industrial average to touch an all-time high at midafternoon. Stocks traded steadily higher most of the day and spiked after the Federal Reserve said it would continue with aggressive measures to boost the economy. Fed Chairman Ben Bernanke said the Cyprus crisis posed no major risk to the U.S. economy. After dipping Monday on concerns that Cyprus' banks could collapse and the Mediterranean island nation might have to exit the 17-member eurozone, the Dow ended a second straight day of gains up 55.91 points, or 0.4 percent, to 14,511.73.
March 14, 2013 |
NEW YORK - The Dow Jones industrial average logged its longest winning streak in two years - barely. A tiny gain gave the Dow its eighth straight increase Tuesday, long enough to match its longest series of gains since February 2011. The Dow rose 2.77 points, or 0.02 percent, to 14,450.06, having wavered between small gains and losses for most of the day. The broader Standard & Poor's 500 ended down 3.74 points, or 0.2 percent, at 1,552.48. The Nasdaq composite dropped 10.55 points, or 0.32 percent, to 3,242.32.
February 21, 2013 |
SAN FRANCISCO - Google's stock price topped $800 Tuesday for the first time amid renewed confidence in the company's ability to reap higher profits from its dominance of Internet search and prominence in the growing mobile market. The milestone comes more than five years after Google's shares initially hit $700. Not long after breaking that barrier in October 2007, the economy collapsed into the worst recession since World War II and Google's stock tumbled into a prolonged malaise that eventually led to a change in leadership.
February 14, 2013 |
NEW YORK - The Dow rose to its highest close of the year, putting it within 1 percent of its record. Stocks gained after impressive results from two big consumer brands. The Dow Jones industrial average closed up 47.46 to 14,018.70 Tuesday. That is nearly 146 points from its record close of 14,164.53 set in October 2007. The Standard & Poor's 500 gained 2.42 points to 1,519.43, also close to its record. The Nasdaq composite was down 5.51 points at 3,186.49. The Dow has now advanced 7 percent this year, and the S&P 500 is up 6.6 percent.
February 9, 2013 |
NEW YORK - Stocks slumped Thursday on Wall Street, and the rally that has pushed indexes close to record levels stalled. The Dow Jones industrial average fell 42 points to 13,944, after sliding as much as 134 points earlier. The index has edged lower this week, after logging its best January in almost two decades. The Standard and Poor's 500 fell three points, to 1,509. The Nasdaq composite dropped three points, to 3,165. "We had such a big January, some type of weakness or consolidation makes sense here to us," said Ryan Detrick, of Schaeffer's Investment Research in Cincinnati.
January 25, 2013
Q: When a company is acquired by another, does its stock price always go up? - K.G., Dalton, Ga. A: It depends. If the firm's market value is around $10 billion and it's bought for $15 billion, the stock price may jump on the news. When a company is very desirable, perhaps due to its products or growth prospects, a buyer may have to outbid other interested companies. But if it's struggling, it might get scooped up for a song, when its price is depressed. Meanwhile, if investors think that the acquiring company has struck a good deal, the price of its own stock might also rise.
December 27, 2012 |
NEW YORK - For the stock market, this week hasn't been the most wonderful time of the year. U.S. stocks fell Wednesday for the third trading day in a row. Disappointing holiday sales weighed heavily on retailers, and the unwelcome fiscal cliff package of higher taxes and lower government spending drew nearer. The Dow Jones industrial average slipped 24.49 points to 13,114.59. The Standard & Poor's 500 index fell 6.83 to 1,419.83 and the Nasdaq composite lost 22.44 to 2,990.16. Karyn Cavanaugh, market strategist with ING Investment Management in New York, wrote a note to clients Wednesday highlighting the less-than-merry retail sales.
December 26, 2012
Q: Who sets stock prices? - J.N., Seattle A: A company's stock price isn't set by anyone. Rather, once shares have been sold by the company to the public (either via an initial public offering or a secondary offering), they trade fairly freely in the stock market. It's not unlike trading cards, which are valued at what people will pay for them. If demand rises or falls, so do prices. That's why, if there's bad news about a company, its stock usually will soon be worth less - and vice versa.