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Fusion-io founders quit to start new venture, shares slump

May 13, 2013 10:51
(Reuters) - Memory drive maker Fusion-io Inc said founders David Flynn, the chief executive, and Rick White, chief marketing officer, have resigned to set up another venture, sending the company's shares down more than 25 percent in early trading. Director Shane Robison will succeed Flynn, effective immediately.

Quintiles Transnational shares soar in 1st trading day on New York Stock Exchange

The Canadian PressMay 11, 2013 20:30
Shares of Quintiles Transnational Holdings Inc. are surging in their trading debut on the New York Stock Exchange. The stock is up more than 9 per cent to $43.79 in midmorning trading while broader indexes are down slightly. That's a $3.79 increase from the Durham, N.C., company's $40 initial public offering price. The IPO raised a total of $947.4 million for the company, selling shareholders and their underwriters.

Stock indexes are rising in early trading; Gap and Priceline.com rise on higher earnings

The Canadian PressMay 11, 2013 05:55
NEW YORK, N.Y. - Stock indexes are mostly higher in midday trading on Wall Street and are on track to post solid gains for the week. The Dow Jones industrial average moved between small gains and losses Friday morning. It was down 16 points at 15,066 as of noon Eastern Daylight Time. Other indexes rose slightly. The Dow is up 0.6 per cent for the week and 15 per cent so far this year. Prices for commodities including crude oil and gold fell sharply as the dollar continued to strengthen against other currencies, especially the Japanese yen.

New Zealand power company IPO prompts vigorous trading as 50M shares trade in 3 hours

The Canadian PressMay 10, 2013 01:00
WELLINGTON, New Zealand - Shares in a state-owned New Zealand power company rose 9 per cent in their stock market debut, giving a boost to the government's asset sale plans. The government sold 49 per cent of Mighty River Power to investors for 2.5 New Zealand dollars ($2.10) a share. The shares reached a high of NZ$2.73 in the first day of trading Friday. About 50 million shares changed hands within three hours. The government raised NZ$1.7 billion ($1.4 billion) from the share sale.

Tableau Software expects IPO to raise up to $215.3 million

May 8, 2013 15:47
(Reuters) - Data analysis software maker Tableau Software Inc said it expects its initial public offer to raise up to $215.3 million at a price of $23 to $26 per share. The company will sell 5 million shares, while shareholders will sell 2.2 million shares, Tableau said in an amended filing with the U.S. Securities and Exchange Commission. (http://link.reuters.com/xug87t) The underwriters have the option to purchase up to an additional 1,080,000 shares.

Insurer Aegon reports first quarter profits drop on stock market loses

The Canadian PressMay 8, 2013 11:58
AMSTERDAM - Aegon NV, the Dutch insurer that does most of its business in the United States under the Transamerica brand, says first quarter profits fell sharply due to stock market losses. Net profit was 204 million euros ($267 million), down from 525 million euros in the same period a year ago. Aegon said Wednesday that it lost 286 million euros on a stock market hedge intended to insulate the company from market fluctuations, but will book gains if markets fall. The company says that in the long run, its earnings would reflect only the underlying performance of its businesses.

ISS backs investor Elliott Management's nominees to Hess board

May 7, 2013 13:49
(Reuters) - Influential U.S. proxy advisory firm ISS asked Hess Corp's <HES.N> shareholders to elect five new board members nominated by activist hedge fund Elliott Management, a day after another proxy firm, Glass Lewis, made a similar recommendation. Elliott Management, which owns a 4.5 percent stake in the oil and gas company, has asked Hess for a number of changes, including the election of independent directors to the board, to increase shareholder value.

Ex-fund manager sentenced to prison for insider trading

May 7, 2013 13:03
By Bernard Vaughan NEW YORK (Reuters) - Former Diamondback Capital Management portfolio manager Todd Newman was sentenced to 4-1/2 years in prison on Thursday for insider trading in the stock of Dell Inc <DELL.O> and Nvidia Corp <NVDA.O>. U.S. District Judge Richard Sullivan also ordered Newman, 48, to forfeit $737,724 and to pay a $1 million fine.

Global stocks, oil fall after Bernanke; dollar gains

May 7, 2013 12:55
By Ryan Vlastelica NEW YORK (Reuters) - Stocks, bonds and currencies took a wild ride on Wednesday, as remarks by Federal Reserve Chairman Ben Bernanke failed to provide the clear picture investors had hoped for of the likely continuation of the U.S. central bank's bond-buying program, with sentiment ultimately driven by expectations of tapering.

Wall Street falters in volatile session on Fed worries

May 7, 2013 12:53
By Angela Moon NEW YORK (Reuters) - Stocks fell on Wednesday with the S&P 500 posting its biggest decline in three weeks, after minutes from the latest U.S. Federal Reserve meeting showed some officials were open to tapering large-scale asset purchases as early as at the June meeting. Trading was volatile - the Dow and the S&P indexes both rose more than 1 percent during the morning, but fell more than 1 percent in the afternoon.
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