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Stock market falls as Facebook makes shaky debut
Fri May 18, 2012 4:02 PM EDT
Updated at 4:20 p.m. ET: Stocks fell on Friday as Facebook made a shaky debut and finished its first day of trading little changed from its IPO price. Broad market indexes were sharply lower as turned cautious before leaders of the Group of Eight nations met to dicsuss the euroz …
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Here's who is getting rich off Facebook's IPO
Fri May 18, 2012 11:14 AM EDT
When Facebook (FB) priced its initial public offering Thursday, the event created hundreds of instant millionaires and a few billionaires. Topping the list, of course, is founder and CEO Mark Zuckerberg, who sold $1.1 billion worth of shares and saw his remaining stake valued at …
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Are you interested in buying Facebook stock?
Thu May 17, 2012 5:41 PM EDT
Facebook shares are expected to begin trading Friday at 11 a.m. ET on the Nasdaq stock exchange, giving the general public a chance to buy shares of the social network company for the first time. Of course those shares will come at a price. Facebook priced its initial public off …
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Mortgage rates still falling, hit record lows
Thu May 17, 2012 11:59 AM EDT
Mortgage rates have continued to fall over the past week, setting record lows for both 30-year and 15-year contracts, mortgage giant Freddie Mac said Thursday. The 30-year benchmark now stands at 3.79 percent, down from 3.83 percent a week ago, with an average "point" fee of 0.7 …
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Rising wealth in China fails to buy more happiness
Thu May 17, 2012 7:43 AM EDT
Sometimes more money just buys more unhappiness. Take China, for example. Everyone assumed that people would get happier as their wallets got fatter. But a new study shows that the opposite occurred, at least for those at the lower end of the income spectrum. Despite record …
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Facebook raises price range for IPO - source
Tue May 15, 2012 12:31 AM EDT
Facebook has raised the price range on its initial public offering to $34 to $38 a share in response to strong demand, a source familiar with the situation said, giving the social network a valuation exceeding $100 billion. At the midpoint of $36, Facebook would raise $12.1 …
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Despite 'pink slime,' beef business is booming
Sun May 13, 2012 11:27 AM EDT
In central Texas, where catastrophic drought has turned green pastures brown and pushed some cattlemen to the brink of ruin, rancher Don Casey was forced to sell half his herd. Yet Casey does not sound too stressed. "I’m making less because I’ve got half as many cows …
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Facebook IPO could be delayed beyond next week
Fri May 11, 2012 7:11 PM EDT
The Securities and Exchange Commission has not yet officially signed off on Facebook's registration statement, a development that could delay the company's initial public offering of stock, CNBC reported Friday. Shares still could go on sale to the public Friday as expected …
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Bankrupt AMR to consider merger option
Fri May 11, 2012 5:38 PM EDT
AMR Corp., the bankrupt parent of American Airlines, will consider merger options with rivals including US Airways Group, sources said Friday. US Airways has been courting AMR's creditors, including labor unions unhappy with AMR's proposed cost cuts. AMR has until now re …
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JP Morgan's Dimon: 'I understand the frustration'
Fri May 11, 2012 12:11 PM EDT
JP Morgan Chase CEO Jamie Dimon, suddenly in the spotlight over billions of dollars in trading losses, said he understands the frustration of protesters who blame Washington and Wall Street for the nation’s economic woes. "I understand that frustration,” Dimon told N …
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JPMorgan discloses $2B in losses in 'flawed' hedging strategy
Thu May 10, 2012 5:51 PM EDT
JPMorgan Chase, the nation's largest bank, said Thursday it has lost $2 billion in a complex hedging strategy over the past six weeks and could lose more. In a conference call to analysts and investors, CEO Jamie Dimon said the 'flawed' hedging strategy was "poorly construc …
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Should Zuckerberg have doffed his hoodie?
Thu May 10, 2012 12:53 PM EDT
Facebook CEO Mark Zuckerberg is still drawing flak for having the temerity to appear in his trademark hoodie at a pivotal bank-sponsored meeting with potential investors in New York this week. The meeting kicked off the company's planned nine-day "roadshow" to sell shares to the …
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Tesla sedan to hit showrooms in June, earlier than planned
Wed May 9, 2012 7:19 PM EDT
Tesla Motors (TSLA) will start delivering its Model S sedan to customers next month, slightly earlier than the electric carmaker had previously projected and a sign of progress for Tesla's most crucial launch yet. Tesla has described 2012 as a "year of two halves" with the Model …
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Facebook sees growing shift to less lucrative mobile use
Wed May 9, 2012 6:17 PM EDT
Facebook said Wednesday that usage of its social networking service is growing faster than its ad deliveries, reflecting a shift toward mobile devices and away from computers. In an amedment to its registration for an expected initial public offering this month, Facebook said dai …
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Disney shares ride 'Avengers' to record high
Wed May 9, 2012 12:01 PM EDT
Walt Disney shares (DIS) bucked a negative market trend Wednesday and rose to a record high after the company announced a sequel to its hugely successful superhero flick, "The Avengers," and posted a rise in quarterly profit. The profit increase was driven by strong attenda …
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Dow off sharply on growing euro fears
Tue May 8, 2012 11:49 AM EDT
Stock market losses accelerated Tuesday as investors grew increasingly worried about problems in the struggling eurozone after weekend elections that stirred uncertainty. The Dow Jones industrial average, which had been down as much as 200 points, was off about 165 or 1.2 percent …
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'Pink slime' maker to close three plants
Mon May 7, 2012 8:39 PM EDT
A South Dakota beef company said Monday it will close processing plants in three states because of the controversy surrounding a product that critics have dubbed "pink slime." Beef Products Inc. spokesman Rich Jochum said Monday that 650 jobs will be lost when it closes its plan …
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Treasury rakes in $5.8 billion in AIG offering
Mon May 7, 2012 11:25 AM EDT
Updated at 6:46 p.m. ET: The Treasury said Monday it expects proceeds of $5.8 billion from its latest offering of shares in American International Group (AIG), the insurance company it acquired as part of the government bailout of the insurer in 2008, at the height of the financi …
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Buffett reassures investors: 'I feel terrific'
Sat May 5, 2012 2:26 PM EDT
Weeks after revealing that he has prostate cancer, billionaire investor Warren Buffett tried to reassure thousands of investors Saturday that his Berkshire Hathaway conglomerate will be in good hands after he steps down.
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LinkedIn surges after posting strong earnings, guidance
Fri May 4, 2012 12:00 PM EDT
LinkedIn (LNKD) shares surged 10 percent Friday to record levels after strong demand for its online networking services boosted quarterly profit and helped raise its outlook. "LinkedIn is disrupting both the online and offline job recruitment markets, and deeper corporate penetr …
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Barnes & Noble shares surge on Microsoft investment
Mon Apr 30, 2012 11:54 AM EDT
Barnes & Noble (BKS) shares surged 62 percent Monday on news that Microsoft is investing $300 million in a new venture that will include the bookstore chain's digital and college businesses. Barnes & Noble shares were up $8.52 at $22.20 in heavy midday trading. Microsoft …
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Amazon, Expedia soar after earnings
Fri Apr 27, 2012 11:53 AM EDT
Amazon.com (AMZN) was among the most active issues on the stock market Friday, up more than $25 a share or 13 percent in midday trading after posting stronger-than expected earnings. Expedia, (EXPE), the online travel agency, also soared Friday, by 28 percent at $41.69, even thou …
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A visual look at results of our money secrets survey
Tue Apr 24, 2012 8:16 PM EDT
TODAY.com and SELF.com Tuesday released results of an extensive survey we conducted earlier this year on relationships and money. As we reported earlier, 37 percent of men and 56 percent of women acknowledge having lied to their partner about money. Here are some other details f …
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Best Buy probes ex-CEO's relationship with subordinate - reports
Thu Apr 12, 2012 7:11 PM EDT
Best Buy's board of directors is investigating allegations that former chief executive Brian Dunn misused company assets in the course of a relationship with a female subordinate, the Minneapolis Star Tribune reported Thursday. Citing "a source close to Best Buy," the newspaper …
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15-year mortgage rate hits record low
Thu Apr 12, 2012 4:47 PM EDT
Mortgage rates fell over the past week, sending the 15-year benchmark to a record low, mortgage giant Freddie Mac said Thursday. While 30-year fixed-rate mortgages are more common, low mortgage rates have made 15-year notes more realistic for some homeowners, especially those who …
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Martin Wolk
StaffMember Since: 10/2007Last Seen: 5/19/2012
Martin Wolk is the executive business editor of msnbc.com, responsible for business content on the msnbc digital network. Prior to joining msnbc in 19 …
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