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Sources: Equifax Execs Who Sold Shares Now Eyed by Feds

There's reportedly a criminal probe into insider trading suspicions

(Newser) - Right after Equifax discovered it had suffered a huge security breach , three senior executives dumped nearly $2 million in shares —and now the feds are looking to see if there was any criminality involved. Per Bloomberg , sources familiar with the investigation say the Justice Department will be seeking evidence... More »

The Stock Market Crashed Monday. But Not Really

Websites mistakenly shared incorrect test data showing various stocks at $123.47

(Newser) - In browsing finance websites Monday, investors may have mistakenly thought they'd gained millions or billions of dollars—or lost as much. In reality, Google Finance, Yahoo Finance, CNNMoney, and Bloomberg mistakenly reported Monday that share prices for a variety of companies were exactly the same: $123.47, reports CNNMoney... More »

Here's How Congressman Lost $17M in Single Day

Australian biotech firm's stock drops 90% Tuesday

(Newser) - A Republican congressman from New York lost approximately $17 million Tuesday when the stock value of an Australian biotech firm cratered, Politico reports. It's unclear how much money was lost by his fellow lawmakers, who he convinced to buy into the firm. Rep. Chris Collins is the largest shareholder... More »

Elon Musk Snarks on Twitter Over Tesla Record

Company just surpassed Ford, now right behind GM with $47.8B valuation

(Newser) - The casual observer checking out Elon Musk's Twitter feed Monday may not have sensed the shade he was throwing with his one short tweet proclaiming, "Stormy weather in Shortville…," but the Tesla CEO was actually crowing a bit at some news about his company's stock, as... More »

Snap's Much-Awaited IPO Looms, CEO 'Elusive'

Snap founder Evan Spiegel as secretive as ever right before much-hyped price set

(Newser) - Those who remember the hype when Alibaba priced its initial public offering of stock in 2014 will get to relive that excitement Wednesday when Snap does the same. Reuters reports the owner of the Snapchat messaging app will serve up a number at the end of the trading day, with... More »

Cops: Florida Man Had Bizarre Plan to Tank Target Stock

Mark Charles Barnett allegedly planned East Coast bombing campaign

(Newser) - A Florida man is in custody charged with plotting a bombing campaign as part of a bizarre investment strategy. Investigators say Mark Charles Barnett, 48, planned to put at least 10 bombs disguised as food items on the shelves of Target stores along the East Coast, NBC News reports. Court... More »

Buffett Has Bought $12B in Stocks Since Trump Win

He's now world's 2nd-richest man

(Newser) - Warren Buffett didn't want Donald Trump to be president—but the Berkshire Hathaway chief didn't get rich by ignoring investment opportunities. In a recent interview with Charlie Rose , the billionaire revealed that his company has invested more than $12 billion in stocks since Trump won the election, more... More »

5 Winning, Losing Companies of 2016

Based on S&P stock price changes

(Newser) - For some companies, 2016 was an economic cornucopia, with stock fluctuations that worked to their advantage. For others, it was a bummer. 24/7 Wall St. took a look at the year-to-date share price changes of everyone on the S&P 500. Top performers included companies involved in technology and resource... More »

Trump Boeing Tweet Came After CEO Criticized Policy

The company's stock nosedived in early trading

(Newser) - The immense power that Donald Trump's tweets now carry was brought home Tuesday morning, when he tweeted a complaint about "out of control" costs for Boeing's new 747 Air Force One jets, saying "Cancel order!"—a move that caused Boeing's stock to fall... More »

$35B Hedge Fund Manager's Secret: Do Nothing

Nevada's Steve Edmundson is a rare find in the investment world

(Newser) - If your visions of high-profile hedge fund managers include frenetic scrambling through paperwork, fielding endless phone calls, and scouring the Internet during never-ending workdays, those don't apply to Steve Edmundson, the investment head of Nevada's $35 billion Public Employees' Retirement System, the Wall Street Journal notes. Where other... More »

As EpiPen Controversy Erupted, CEO Unloaded $5M in Stock

Heather Bresch sold 100K shares in deal meant to thwart appearance of insider trading

(Newser) - Mylan CEO Heather Bresch has taken her fair share of scrutiny lately over EpiPen's soaring price , her own soaring salary , her dad , and even a since-rescinded MBA from West Virginia University. But even as her company's controversy grew, Bresch did something else that's getting scrutinized: She unloaded... More »

Apple 'Cheerleader' Icahn Dumps All His Stock

Billionaire is worried about China's influence, barriers against company

(Newser) - Just a few years ago, Carl Icahn opened his wallet to invest in Apple, calling such a move a "no-brainer," and became what the Guardian calls a "huge cheerleader" for the tech company. But that all changed this week as the billionaire investor made a decision to... More »

CDC: Cancer Risk From Flooring 3 Times What We Thought

Lumber Liquidators' stock dives after revised CDC report on formaldehyde levels

(Newser) - A certain type of laminate flooring made by Lumber Liquidators may up the risk of cancer, and the company's stocks are taking a beating, CNNMoney reports. Shares fell by up to 24% Monday morning, per Bloomberg and Reuters , after the CDC issued a revised report that found health effects... More »

FBI Busts Pharma Bad Boy on Fraud Charges

Martin Shkreli accused of using company stock to pay other debts

(Newser) - Martin Shkreli may have to dump some of his recent musical acquisitions to pay his own legal fees: The 32-year-old pharmaceutical pariah who unapologetically jacked the price of a life-saving drug was arrested by the FBI Thursday on charges of federal securities fraud, Reuters reports. Shkreli is accused of pilfering... More »

Twitter CEO Floors Workers by Parting With $200M in Stock

Jack Dorsey pumps up employees: 'I'm confident we can make Twitter big!'

(Newser) - Twitter employees have had a chaotic go of it over the past few weeks: first the shakeup of co-founder Jack Dorsey coming on board permanently as CEO , then an unpleasant round of layoffs that purged 8% of the company's staff. Brighter news, however, has since come down their feeds,... More »

Company With 1 Worker Sees 25K% Stock Surge

But the SEC clamps down on Cynk

(Newser) - Too good to be true? A company with just one employee, no assets, and no revenue saw its penny stocks rocket to a $6 billion valuation this summer—enough for the SEC to shut down its trading and launch an investigation, the Wall Street Journal reports. The company, Cynk, runs... More »

Fraudster Cheats Alan Grayson Out of $18M

William Chapman sentenced to 12 years in scheme

(Newser) - Florida Democratic Rep. Alan Grayson —one of the richest people in Congress—was a victim of fraud that cost him $18 million, court documents show. On Friday, William Dean Chapman was sentenced to 12 years in prison over the scheme, which cost 120 investors some $35 million. After investors... More »

Dow Hits 16K for First Time

And S&P is trading above 1.8K

(Newser) - The Dow Jones Industrial Average crossed the 16,000 threshold this morning for the first time, with Boeing—bolstered by hefty 777X orders at the Dubai Airshow yesterday—acting as one of the day's biggest movers, reports the AP . The S&P 500, meanwhile, was trading above 1,800;... More »

Why a Market Crash Might Not Be Far Away

Henry Blodget sees stocks '40% overvalued'

(Newser) - The stock market may be looking healthy lately, but don't be deceived, writes Henry Blodget at Business Insider : We could be en route to another crash. "Every valid valuation measure I look at suggests that stocks are at least 40% overvalued and, therefore, are likely to produce lousy... More »

Google Shares Break $1K

At a high of $1,007.40 after strong Q3 results

(Newser) - Google "big milestones" and this story should show up: Google's stock soared to its highest price today, breaking the $1,000 mark for the first time. (Today's peak thus far has been $1,007.40 per share.) That squashes the previous July peak of $928, CNN... More »

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