Word: lowerator
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Dates: during 2000-2009
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...July 19, 2007, Google reported earnings that were lower than what analysts had expected, and the tech company's stock price dropped 5% - but Raj Rajaratnam made $9 million. Allegedly, the New York hedge-fund manager had gotten a tip that Google's earnings would be below expectations, so he was prepared with short positions and put options that would become more valuable as the stock price fell. The alleged source of the tip: an employee at an investor-relations firm that helped Google announce its earnings who wanted to be paid for similar informational gems in the future...
...trading on the information must entail knowingly breaching a duty of "trust or confidence." This can be a fiduciary duty, which an officer of a company would have to a firm's shareholders (perhaps an Intel managing director), or - as the Supreme Court has more recently found - a lower-level employee who has a broader duty to not share, or personally benefit from, his firm's proprietary information (maybe a McKinsey consultant...
...news from most other companies for the just-ended third quarter will be decidedly mixed. "The overall picture for the third quarter is very similar to the second quarter, with most firms beating expectations while the top and bottom lines [i.e., revenues and profits] are still lower than a year ago," says Dirk Van Dijk, chief equity strategist for Zacks Investment Research. Overall, Zacks' analyst surveys suggest that earnings for the S&P 500 will be down 23.8% from last year's third quarter...
...criticism of the ’40s and ’50s, left-wing magazines like “Partisan Review” and “Commentary,” Strand Bookstore’s 18 miles of used and rare books, Beat memoirs of life on the Lower East Side, Woody Allen films like “Annie Hall” and “Manhattan.” Even now, movies like “Synecdoche, New York” tap into the mystique of the creative mind in a way that wouldn’t transfer...
...much more representative unless millions more voters show up at the polls this time. But the deteriorating security situation and limits of the appeal of both candidates give little reason to expect that the rerun would see a voter surge; turnout in a runoff, if anything, could be even lower. (See pictures of election day in Afghanistan...