Apple's Cook fields his A-team before a wary Street
SAN FRANCISCO - Apple Inc Chief Executive Tim Cook's new go-to management team of mostly familiar faces failed to drum up much excitement on Wall Street, driving its shares to a three-month low on Wednesday.
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Facebook Finds Friends on Wall Street as Stock Soars 20% on Mobile Gains
Over the last year, Facebook CEO Mark Zuckerberg has repeatedly emphasized his company’s social mission, “to make the world more open and connected.” It turns out that he’s interested in building a lucrative business as well. After Facebook’s surprisingly strong earning report, highlighted by impressive performance generating mobile revenue, the company’s shares skyrocketed by 20% on Wednesday, in the largest one-day gain since the company went public back in May. Facebook’s strong third-quarter showing was rewarded with stock upgrades by several prominent Wall Street analysts. And although Facebook still faces fallout from its controversial IPO, this week’s performance has restored a measure of investor confidence in the company. “Facebook’s wild first five months as a public company are now in the books, and the company has transformed itself over that time,” Wedbush Securities analyst Michael Pachter wrote to clients on Wednesday. “During the IPO road show and ...
Marissa Mayer’s Wall Street Debut Sends Yahoo! Stock Surging
Three months after assuming command of struggling Web giant Yahoo!, Marissa Mayer outlined her strategy to revive the company on Monday — and Wall Street liked what it heard. Yahoo! shares soared nearly 5% as Mayer spoke, reflecting a sense of optimism about the purple-hued Internet pioneer that has been sorely lacking in recent years. Yahoo!’s turnaround effort is one of the most closely watched stories in tech, and Mayer faces a daunting challenge. Yahoo! has shed more than half its value over the last five years, as one-time rival Google has surged to a dominating position in Web search, and new upstarts like Facebook and Twitter have staked out formidable positions in the exploding social networking space. Mayer, a 37-year-old former Google executive, is viewed by many in the tech community and on Wall Street as the company’s last, best chance to reverse a years-long slide punctuated by management turmoil and layoffs. Mayer’s strategy for the company hinges on incorporating ...
25 Years Later: In the Crash of 1987, the Seeds of the Great Recession
“History doesn’t repeat itself, but it does rhyme.” This quote, often attributed to Mark Twain, resonates with us for its pithy description of an irony we encounter everyday: In a world marked by rapid technological, political and social change, certain themes remain eternal. Wall Street is not immune to this phenomenon. There have been few periods in its history that have been more dynamic than the past quarter century. Since the 1980s, Wall Street has seen the emergence of computerized trading, the application of advanced mathematical techniques and theories to trading, and the total upheaval of the very structure of the markets on which securities are traded. Yet even with all these changes, the essence of The Street has stayed the same. This may be best illustrated by the great crash of October 1987. Twenty-five years ago this week, American stock markets suffered one of its largest three-day declines in history, with the S&P 500 loosing 28.5% of its value between October 14 and ...
Merrill Plots Raid on a Vulnerable Rival
In a raid that stands out even in Wall Street's aggressive recruiting culture, Merrill Lynch is offering some top Morgan Stanley Wealth Management brokers $1.5 million bonuses to defect.