Banks involved in London interbank offered rate benchmark, or Libor, manipulations could be liable for billions of dollars in lawsuits from a slew of financial firms and investors who were affected by the distortions, according to reports.
While Samsung Electronics lost out to Apple in the high profile patent trial, wherein the U.S. court ordered the former to pay $1.05 billion for patent infringements, experts aver that the ongoing partnership among the two companies for supplying components will hold good.
Samsung Electronics shares tumbled more than 7 percent on Monday, wiping $12 billion off the South Korean giant's market value, as Apple Inc's sweeping legal victory in their U.S. patent battle raised concerns about its smartphone business - its biggest cash cow.
Asian shares retreated from a two-week high Friday on scaled back expectations of more stimulus from the U.S. Federal Reserve and growth concerns after manufacturing surveys from the euro zone and China depicted a bleak outlook.
The good news for investors in Facebook (Nasdaq: FB), the No. 1 social networking site, is that the shares didn’t set a new, post-initial public offering low on Wednesday. But they have come close, trading as low as $18.96 before recovering to $19.40, up 24 cents in late trading.
The top after-market Nasdaq gainers Tuesday were Vitesse Key Tronic Corporation, Alexza Pharmaceuticals Inc, Affymax Inc, Fifth Third Bancorp and Warner Chilcott plc.The top after-market Nasdaq losers were Ultra Clean Holdings Inc, Dell Inc, Career Education Corporation, Thomas Properties Group and Amkor Technology Inc.
Asian stock markets declined Monday on worries that the Chinese government will tighten measures to control rising property prices.
Shares of Facebook (Nasdaq: FB), the No. 1 social networking site, fell to a new record low of $19.01 in midday Friday trading, a day after insiders were allowed to sell as many as 241 million shares they had been required to hold since the May 17 initial public offering.
Any trial in U.S. District Court of the more than 50 shareholder lawsuits alleging fraud by Facebook (Nasdaq: FB), the No. 1 social networking site, and its underwriters could be as much as five months away, lawyers said.
Shares of Google (Nasdaq: GOOG), the No. 1 search engine, set a five-month high Monday after the company advised the U.S. Securities and Exchange Commission of plans to fire 4,000 Motorola employees, two-thirds outside the U.S.
U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
Shares of U.S. banks of all sizes and specialties rose Friday over 3 percent, handily beating the performance of the wider stock market, which itself was in a head-first rally following a week of disappointing news. But there was one big exception to the equity party: megabank JPMorgan Chase and Co. (NYSE:JPM), which looked poised to underperform its peers in late-afternoon trading.
The U.S. government's report Friday that 163,000 jobs were created last month, far more than expected, sparked a risk-on sentiment among investors.
Following a poor earnings report last week and a steep drop in its share prices, social gaming giant Zynga is now facing an insider trading lawsuit on account of some suspicious financial activity by the company's top executives.
Traders piled into a frothy rally in the natural gas markets Tuesday, sending the price of the energy commodity to 2012 highs and seemingly hoping to turn a quick profit with a highly volatile trade before the market's momentum shifts.
Tesla Motors Inc. (Nasdaq: TSLA) is expected to report second quarter 2012 earnings sharply lower than the previous year as the company waits for revenue from the recently launched Model S and from a new partnership with Mercedes-Benz to have a positive impact later in the year.
Philips Electronics, PhotoMedex, Deutsche Bank, Banco Santander, Morgan Stanley, United States Steel Corp, Bank of America Corp, Ford Motor and JPMorgan Chase & Co. are among the companies whose shares are moving in pre-market trading Monday.
Two months after the trading fiasco in the initial public offering of Facebook (Nasdaq: FB), the No. 1 social networking site, tech IPOs are soaring again. Palo Alto Networks (Nasdaq: PANW) and Kayak Software (Nasdaq: KYAK) shares soared in their IPOs.
The golden age of being a banker is so far in the past. After a brutal year of massive layoffs in the global financial industry last year, the axe is starting to fall again.
Asian stock markets mostly lowered Friday as weak economic data from the U.S. and concerns over the euro zone debt crisis weighed on the sentiment.
Two months after the trading fiasco in the initial public offering of Facebook (Nasdaq: FB), the No. 1 social networking site, tech IPOs are heading to market again.
Although Friday's closely watched June jobs report missed expectations, analysts are looking on the bright side: Income and hours worked both rose and the country's job market is still growing, despite global turmoil.
