Word: nasdaq
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...does, however, produce stock market rockets. Networking stocks have helped push the tech-laden nasdaq exchange to new highs, and Cisco Systems--a networker whose stock has risen more than 12,000% in the past seven years--is the Apollo of the group. Fund managers trip over themselves to predict how high Cisco stock, which closed last week at $67, will be come Thanksgiving (consensus: $85). In the past six weeks the stock is up 50%. Analysts flock to industry conventions to predict a glowing future...
...YORK CITY: Intel's prediction of weaker-than-expected second quarter earnings sent the stock plunging in early trading Friday, dragging many other tech-stocks with it. Citing surprisingly weak demand for its microprocessor chips, Intel suffered a 14.5 percent drop in morning trading on the Nasdaq exchange. By the end of trading, the stock made up more than half its loss, finishing down $12.27 at $151.50 "Investors have a tendency to oversell and overbuy stocks when there is especially good or bad news," said Charles Boucher, an analyst at New York-based UBS Securities. "On a negative announcement from...
...More important, there is mounting grass-roots support for cutting taxes on investment gains. Thanks to a roaring bull market, and the fact that anyone with two nickels to spare is in stocks, Wall Street windfalls are no longer reserved for the rich. A survey by the NASDAQ stock exchange shows that the proportion of adults owning equities has doubled, to 43%, since...
TORONTO: The Bre-X saga came to an ignominious end Thursday when the upstart mining company filed for bankruptcy and removed its shares from trading on the Nasdaq Stock Market. Bre-X had already been dumped by the Toronto Stock Exchange following a plunge Tuesday in which Bre-X shares, once worth more than $200, closed at about 6 cents. At Tuesday's close, the company's market value was about $14 million, compared with its peak value of $4.5 billion last year. The bankruptcy will provide protection against a host of current and expected lawsuits against the company stemming...
...report released Sunday, Strathcona Mineral Services said that gold from outside sources had been added to the crushed rock core samples that Bre-X had gathered as evidence of the supposed 200 million ounces of gold at Busang. Trading in Bre-X on the Toronto Stock Exchange, NASDAQ and other markets has been suspended indefinitely. TIME's Toronto bureau chief Andrew Purvis calls the damning report "the final chapter of an extraordinary tale." Stock in the Canadian mining company had soared from pennies a share in 1993 to over $200 last year after the company reported it was sitting...