tech stocks

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Wall St. Rally Loses Steam

But tech stocks clawed back some losses

(Newser) - An early rally on Wall Street lost steam by the closing bell Wednesday, leaving major indexes mixed. The S&P 500 rose 0.8%, thanks largely to gains in big technology companies. The Nasdaq rose 2% to 11,786.43, and the Dow Jones industrials edged down 0.1%, or... More »

Investor Makes $12B on Biggest Software IPO Ever

Snowflake has a massive debut

(Newser) - If you're hearing the word "snowflake" a lot today, it has nothing to do with politics. Snowflake the tech company is coming off the largest software IPO in history on Wednesday, reports CNN . The company priced its shares for the initial public offering at $120, but they opened... More »

Tech Stocks Are Climbing Again

They helped pull markets higher Tuesday

(Newser) - Stocks overcame a late-afternoon burst of selling and closed higher Tuesday, as gains in big technology companies outweighed losses in banks and elsewhere in the market. The S&P 500 rose 0.5% after being up 1.1% earlier. It's the second straight sizable gains for the benchmark index... More »

Dow Jumps 439 Points as Tech Stocks Rebound

'We were due for a bounce'

(Newser) - Wall Street snapped back Wednesday from its recent tumble, as the bloodletting for big technology stocks came to at least a temporary halt. Apple, Amazon, Zoom Video Communications, and other tech companies that suddenly lost their momentum late last week on worries their stocks soared too high all regained some... More »

Dow Drops 632 Points as Tech Stocks Slump

Nasdaq is down 10% over 3 trading days

(Newser) - Big technology stocks tumbled again on Tuesday, continuing the Icarus-like flight path for companies that just a week ago were the high-flyers carrying Wall Street to record heights. The S&P 500 fell 95.12, or 2.8%, to 3,331.84 and clinched its first three-day losing streak in... More »

'Exhaustion' Finally Catches Up to Markets

Apple and other tech stocks lead the plunge

(Newser) - On Wednesday, the stock market had a very good day as the Dow climbed back over 29,000. Thursday is telling a much different story. The numbers around midday were bleak: The Dow was down 531 points, or nearly 2%, to 28,554; the S&P 500 was down 92... More »

Apple Shares Dive After CEO's Bad News

'This is Apple's darkest day during the Cook era'

(Newser) - Apple shares are in store for a bruising after CEO Tim Cook's warning to shareholders on Wednesday. The share price dived 8% in after-hours trading and is now down by a third from its October peak. The price is expected to plunge further on Thursday, bringing other tech stocks... More »

Facebook: Zuckerberg Won't Sell Shares for a Year

Firm moves to protect share price as it hits new low

(Newser) - Mark Zuckerberg is a much poorer billionaire than he was a few months ago, but he won't be joining the early investors selling off their Facebook shares. Those shares hit a new low of $17.73 yesterday, and the company took steps to assure investors that the slide will... More »

Key Groupon Investors Ditch the Troubled Stock

Critics say big pre-IPO investments overvalued the company

(Newser) - With Groupon having lost three-quarters of its IPO value, several of its key early investors, including web icon Marc Andreessen, have left the building, reports the Wall Street Journal . Andreessen's firm, Andreessen Horowitz, invested $40 million of the $950 million pumped into Groupon in the months before it went... More »

Morgan Stanley CEO Defends Facebook IPO

Give the stock some time, he says

(Newser) - Morgan Stanley CEO James Gorman didn't feel the need to make any apologies in his first public comments since Facebook's IPO disaster. Gorman, speaking to CNBC , defended his bank's role as chief underwriter on the deal. "There are lot of opinions," he said of the... More »

Facebook Backers Helped Short Sellers

Morgan Stanley adjusting thousands of first-day trades

(Newser) - Some traders at the underwriters of Facebook's bungled IPO were busy aiding short sellers who bet the stock would drop in the days after its debut, the Wall Street Journal finds. Insiders say traders at JPMorgan and Goldman Sachs were loaning out the shares hedge funds needed to bet... More »

Insiders Warned on Facebook IPO, Regulators Launch Investigation

Only big investors were tipped off to revised revenue forecast

(Newser) - Facebook's IPO is looking more disastrous by the day. Regulators are now probing reports that underwriter Morgan Stanley and other banks cut their revenue forecasts for the company just days before the IPO—but only advised major clients of the change. Insiders believe the revised forecast, which smaller investors... More »

Groupon Stock Hike Probed

Trading spikes ahead of release of strong results

(Newser) - Did Groupon insiders try for a daily deal of their own? A Wall Street regulator is probing some fishy trading activity in the hours before the company released stronger-than-expected financial results earlier this week, sources tell the Wall Street Journal . Shares in the company—which had fallen more than 50%... More »

Brokerages Stop Taking Facebook IPO Orders

Buying, selling frenzy expected tomorrow

(Newser) - Several brokerages have told clients that it's now too late to order Facebook shares ahead of the expected stampede when the stock goes public tomorrow. Morgan Stanley—one of the 33 underwriters of the huge IPO—is among those that have stopped accepting new orders, sources tell Reuters . Its... More »

Facebook Expands IPO, Could Raise $16B

Stock offering may become third largest in US history

(Newser) - Facebook's behemoth of an IPO is getting even bigger. After raising its price range , the company has now decided to expand the size of the stock offering by 25% to 422 million shares, sources tell Reuters . The IPO could now raise as much as $16 billion—dwarfing Google's... More »

Groupon Shares Surge After First Profit

Coupon site says it has boosted revenue, slashed costs

(Newser) - Groupon is starting to look like a good buy for investors again. The daily deals company's shares surged 18% yesterday, and climbed further in after-hours trading after it recorded its first-ever quarterly profit, excluding a one-off charge for tax expenses, reports Reuters . Revenue leaped 89% from a year earlier... More »

Yelp Shares Jump 62% in IPO

Review site goes public

(Newser) - Yelp shares hit the stock market today and soared, despite mixed reviews of the consumer review website's long-term prospects. The initial public offering of 7.1 million shares had been priced at $15 a share, which was above the target range of $12 to $14 it set last month;... More »

Groupon Posts $42.8M Loss

First results since IPO disappoint investors

(Newser) - Groupon's first earnings release as a public company may leave those who flocked to buy shares after its IPO with buyer's remorse. The daily deals site posted a fourth-quarter net loss of $42.7 million, sending its shares tumbling 13% and surprising analysts who had predicted a modest... More »

Facebook Edges Closer to Going Public

It revamps stock but says it has no IPO plans 'at this time'

(Newser) - Facebook revamped its stock structure today in a move sure to heat up speculation that it's going public. The company will have two classes of shares, A and B, reports the Wall Street Journal . Everyone currently on board will hold B shares, with 10 times the voting power of A... More »

Stocks Mixed; Dow Off 34

Tech a bright spot amid gloom over slow recovery

(Newser) - Stocks ended mixed today as worries over the continued effects of the recession trumped data showing improved consumer sentiment and personal income, the Wall Street Journal reports. Tech stocks did the best, making the Nasdaq the only index to finish in the green. The Dow fell 34.01 points to... More »

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