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Hanging out with the wrong crowd can ruin your rep. Or sometimes it elevates your status.The same can be said of certain stocks whose affiliation with a downtrodden sector might lead investors to snub a company that shows fundamental strength and long-term earnings potential. For some investors, stocks that are a little rough around the edges shout possibility. But those buyers must have the risk
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Australian stocks continued to tumble at noon after local investors panicked over the debt crisis in Europe.Australian shares opened at their lowest level this year and then continued their descent all morning in response to falls on Europe’s main stock markets and the euro hitting a new four-month low against the US dollar.However, Lonsec strategist Michael Heffernan said Australian shares had
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By Andrew R. Johnson Facebook’s debut drew a crowd to Times Square New York as people who were interested wanted to get close to the historic day.Gaitano Sulla, an assistant project manager with a marble company on Long Island, said he was talking to a stock broker friend in the days leading up to Facebook’s IPO to see if there was an opportunity to buy shares. He wasn’t able to and has decided
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London stocks again ended lower on Friday after nervous trade, despite the fervour surrounding Facebook ‘s stock flotation in New York as concerns over the eurozone prevailed.The benchmark FTSE 100 dropped 1.33 percent to end at 5,267.62 points.Shares on Wall Street briefly bucked the trend amid excitement over the social network’s historic market debut, but later turned lower as the stock
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By Caroline ValetkevitchNEW YORK (Reuters) – World stocks fell for a fifth day and Brent oil prices dropped 2 percent on Thursday on concerns about the health of Spain ‘s banks and the prospect of Greece leaving the euro zone.Adding to pressure on Wall Street stocks was a U.S. government report showing manufacturing in the mid-Atlantic states unexpectedly contracted in May. The Standard Poor’s
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(Reuters) – Solar stocks slumped to fresh lows on Friday as investors continued to punish Chinese solar companies a day after the United States said it would impose new duties on imports from the world’s leading solar manufacturer.Suntech Power Holdings (NYS: STP – News ) was down 4.2 percent, Trina Solar Ltd (NYS: TSL – News ) slid 5 percent and Yingli Green Energy (NYS: YGE – News ) dropped 7.5
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Singapore shares extended their fall on concerns aboutgrowing instability in Spanish banks and political turmoil inGreece, with banks, property and commodities stocks in thecity-state among the hardest hit.The Straits Times Index dropped as much as 2.1percent to 2,762.81 points, the lowest since Jan 16. TheSingapore bourse has lost more than 4 percent so far this week.Southeast Asia’s largest
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U.S. stocks were lower for the third straight week on Greece and European debt worries while Facebook ‘s ( FB – News ) highly anticipated IPO was a disappointment in the first day of trading Friday.A social media ETF fell sharply on Friday amid the Facebook IPO . [Social Media ETF Down as Facebook Begins Trading] Stepping back, U.S. stocks continue to move lower on speculation Greece will soon
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A by Intel found that only 28 percent of teenagers had ever considered becoming engineers and that only 5 percent associated engineering with the word “cool.” That’s not terribly surprising given that engineering ranks in the bottom half of professions with which teens are familiar, falling below teacher, doctor, nurse, police officer, chef, lawyer, musician, professional athlete, scientist, and
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By Alistair BarrNEW YORK (Reuters) – Social media stocks, led by Zynga Inc (ZNGA.O), slumped in volatile trading as traders used the securities to hedge or bet against the star of the sector, Facebook Inc (FB.O), which went public in a disappointing debut on Friday.Facebook shares rose to a high of $45 in early trade but lost steam and closed at $38.23, up less than 1 percent. Analysts blamed the
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