Love it or hate it, but Twitter, the social-media stalwart that got everyone thinking in 140 characters or less, was the darling of the NYSE on Thursday after TWTR shares closed 73 percent higher than the preset IPO asking price of $26.
The owner of the “icon of American capitalism” is being sold to an Atlanta-based derivatives company for $8.2 billion as Wall Street’s trademark practice of high-energy verbal trading gives way to the digital kind.
U.S. stocks sank almost 6 percent Monday, as investors disposed of risky assets and bought low-yielding but more secure Treasury bills and bonds, despite Standard & Poor’s recent downgrade of the U.S. government credit rating. (more)
John Thain is back. The ex-CEO of Merrill Lynch, who also once held top posts at Goldman Sachs and the New York Stock Exchange, has returned to the Wall Street fold, this time as chairman and CEO of the CIT Group. However, this time, one imagines, he won’t have a $35K commode at his disposal.
Well, this looks about right. Although it doesn’t exactly represent the sort of image overhaul we’d recommend for Wall Street types given the past 15 months or so, this footage of Darth Vader and a supporting cast of stormtroopers ringing the opening bell at the New York Stock Exchange on Tuesday has a certain refreshing frankness about it, no?