U.S. stock prices jumped higher on the first trading day of 2012 after new economic data showed gains in construction and manufacturing activity. Meanwhile, oil prices surged amid escalating tensions between the U.S. and Iran, …
Wall Street
Bank of America Shares Fall Below $5 to New 2011 Low
Bank of America, the second largest U.S. bank by assets, fell more than 5% on Monday to below $5 per share for the first time in 2011, and the lowest level since March of 2009. The $5 threshold is more than just a psychological …
Zynga Pops 10% Then Drops Below IPO Price in Lukewarm Debut
Online game-maker Zynga went public Friday, raising $1 billion in the biggest Internet IPO since Google in 2004. The company’s shares opened at $11 — 10% above the $10 offering price — before quickly falling as low as $9.50, …
Zynga’s Valuation Could Reach $10 Billion After IPO
Web gaming phenom Zynga, which is preparing to go public Friday, does not have a complicated business. People love to hang out on Facebook and share stuff with their friends. People also love to play online games. So it’s no …
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How Apple’s iPhone and Google’s Android Left BlackBerry in the Dust
Update 5 p.m. December 15 — Research in Motion reported disappointing third-quarter results Thursday after the close of the stock market. Earnings plummeted 71% to $265 million, from $911 million one year ago, though much of …
Don’t Cry for Goldman Sachs, Despite ‘Bad’ Year and Partner Exits
Has Goldman Sachs lost its lustre? The Wall Street powerhouse is wrapping up its worst financial performance since 2008, with profits down more than 40% so far this year. As a result, end-of-year bonus payouts are sure to be …
How Flooding in Thailand Hurts Intel’s Sales
Intel, the world’s largest microchip maker, lowered its sales forecast by $1 billion due to a shortage of hard disk drives caused by the recent severe flooding in Thailand, the company said Monday. Thailand is one of the world’s …
Is Facebook Really Worth $100 Billion?
That’s the question many people are asking amid rising chatter that the booming social network plans to go public in 2012 and raise up to $10 billion in a deal that could value the company at more than $100 billion.
How to Earn 5% No Matter What the Economy Looks Like
A new study suggests that investing your retirement money half in bonds and half in stocks will produce 5% annual returns like clockwork, despite bumps in the economy. But is this a smart strategy for everyone? No.
What We Can Learn from a Legendary Fund Manager’s Retirement
In the end, Bill Miller was doing what he had always done. But it stopped working, and now the legendary mutual fund manager is retiring. His inglorious departure from Legg Mason Value Trust offers a telling lesson in the perils …
America’s Love-Hate Relationship with Wealth
I’ve been on the road for the past two months, mostly in Bolivia and Peru, where I was pretty off the grid and didn’t keep up with the news. So I arrived home to find a strange phenomenon: Protesters “occupying” Wall Street. And …
Warren Buffett Is Buying. Is It Time to Celebrate?
It’s possible to over-analyze Warren Buffett’s investment moves. But that doesn’t seem to stop anyone, and the Oracle of Omaha’s latest disclosures are whipping up a stir over prospects for a robust recovery.