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By BLOOMBERG BUSINESS NEWS | December 4, 1996
NEW YORK -- U.S. stocks tumbled yesterday in a late-day sell-off, after a reversal in Treasury bond prices and concern that a stronger dollar might erode corporate profits.The Dow Jones industrial average fell 79.01 to 6,442.69, its biggest percentage drop since a 161-point plunge July 15. The Standard & Poor's 500 index fell 8.28 to 748.28, its largest decline in three months.The Nasdaq composite index rose 0.55 to 1,300.37, its seventh consecutive record.Concern that the U.S. dollar's recent rise might hurt multinational companies' earnings overseas battered such companies as General Electric Co., which lost $6.6 billion of its market value, falling $4 to $99.25.
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BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | May 7, 1996
An Alex. Brown Inc. executive has surfaced as a leading candidate to head the Nasdaq Stock Market Inc., a source familiar with the selection process said yesterday.Alfred R. Berkeley III, managing director at the Baltimore-based investment banking company, is one of a handful of executives in the running to become president of the nation's second-largest stock market -- the Nasdaq."He's got the skill sets that would be good; he certainly understands technology; he certainly understands the financial markets both from the underwriting and the back office point of view," the source said.
BUSINESS
By Susan Harrigan and Susan Harrigan,NEWSDAY | August 17, 2003
During a long career in government and private industry, Frank G. Zarb has been Mr. Fixit. Now, however, one of his major repair jobs appears to have sprung leaks. The Nasdaq stock market, following a strategy that Zarb developed in the late 1990s to try to keep it from coming apart, has rapidly lost money and market share. Amid a continued defection of customers to upstart electronic communications networks, or ECNs, Nasdaq's share of trades in its own listed stocks has fallen to 17 percent as of June from 18.7 percent in December, costing it fees.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | March 16, 2000
The Dow Jones industrial average soared more than 320 points yesterday, while the technology-laden Nasdaq composite index fell nearly 125 -- a complete role-reversal from the past two months. Analysts said it is too soon to know if yesterday's reversal of fortune is the sign of renewed investor interest in blue-chip shares, a false break in a bear market, or just a brief respite from a bull market in technology stocks that's had a stubborn penchant for breaking all the rules. "We've seen such a tremendous dichotomy between technology and the rest of the market for quite awhile," said Gil Knight, a principal with Allied Investment Advisors in Baltimore.
BUSINESS
By BLOOMBERG NEWS | November 28, 1998
NEW YORK -- U.S. stocks, led by oil shares, rose yesterday amid speculation that Exxon Corp.'s talks to buy Mobil Corp. will spark more mergers. A rally in computer shares such as Microsoft Corp. and Internet stocks sent the Nasdaq Composite Index to its first record since July 20.The possibility of an Exxon-Mobil combination "is going to start merger mania again," said Tim Chesterfield, who helps manage $2.65 billion at Pavilion Asset Management in Brighton, England. Chesterfield said he owns Exxon and may buy more oil stocks.
NEWS
By William Patalon III and William Patalon III,SUN STAFF | April 5, 2000
The Nasdaq composite index took technology-stock investors on a ride yesterday that made Coney Island's vaunted Cyclone roller coaster seem tame. The index fell nearly 575 points, or 13.6 percent, by early afternoon, and spent the rest of the day in a rise-and-fall pattern that ended with the Nasdaq down a modest 74.79 points, or 1.77 percent, at 4,148.89. The midday point drop was the biggest ever for the index, which is dominated by technology stocks. The Nasdaq, which at its March 10 record high was up 24 percent for the year, is now up 2 percent for the year after a sell-off that started a week ago. Blue-chip investors had a similar case of the jitters.
NEWS
By William Patalon III and Bill Atkinson and William Patalon III and Bill Atkinson,SUN STAFF | December 1, 2000
Technology stocks ended their worst month since 1987 with a sell-off yesterday that - at its low for the day - saw the Nasdaq composite index down to half of its March 10 record high. The Nasdaq dropped 109 points, or 4 percent, to close at 2,597.93. The technology-laden index was down more than 183 points before an afternoon rally narrowed the loss. The Dow Jones industrial average fell 214.62 points, or 2 percent, to finish November at 10,414.49. Yesterday was the second-busiest day ever on both the New York Stock Exchange, where 1.498 billion shares changed hands, and on the Nasdaq, where volume was 2.65 billion shares.
NEWS
By William Patalon III and William Patalon III,SUN STAFF | April 18, 2000
Wall Street recovered yesterday -- at least temporarily -- from one of the worst weeks in its history in a topsy-turvy trading session that saw the Nasdaq composite index finish with its biggest point gain ever. It was a much better day than many had feared. Some market experts had predicted a continuation of the bloodletting on Friday, when the Dow Jones industrial average and the Nasdaq suffered their biggest point drops ever. But even with the gains, experts said, there are no guarantees that the carnage is finished.
NEWS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | January 1, 2000
Once again, on the last trading day of 1999, a bombshell announcement couldn't derail the momentum of the U.S. stock market. After waking to the news of Russian President Boris N. Yeltsin's resignation, traders sent the Dow Jones industrial average, the Standard & Poor's 500 index and the Nasdaq composite index to record highs. The major stock indexes produced double-digit returns for the fifth year in a row. "This year was extraordinary, exuberant and exciting, to say the least," said Alan R. Ackerman, senior vice president at Fahnestock & Co., a New York brokerage.
BUSINESS
By BLOOMBERG BUSINESS NEWS | September 18, 1996
NEW YORK -- U.S. stocks clung yesterday to the last two trading sessions' record gains as higher borrowing costs couldn't shake investors' ardor for equities.Rising shares of Philip Morris Cos. offset a decline in United Technologies Corp., which reached an all-time high Monday. The Dow Jones industrial average finished just off Monday's record close, trading 0.37 points lower at 5,888.83 after having been down almost 40 points earlier. The Standard & Poor's 500 index fell 1.04 to 682.94.
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