Blackberry Struggles; Twitter Raises IPO Price
After failing to reach a buyout deal with Fairfax Holdings, Blackberry's (BBRY) CEO steps down and the company decided to remain public after losing over 16% on the day. Multiple penalties were assessed today to large corporations. SAC Capital hedge fund was assessed a $1.8 billion penalty for insider trading in a plea deal, but the deal still needs court approval. Johnson & Johnson (JNJ) is now apart of the largest health-care fraud settlement in history after agreeing to pay $2.2 billion to settle civil and criminal lawsuits.
Word on the Street
- BlackBerry's (BBRY) share price falls drastically on Monday.
- Twitter raises projected IPO price.
- The Federal Reserve is in no rush to end purchase program.
- Largest ever penalty for insider trading given to SAC Capital.
- Johnson & Johnson (JNJ) assessed a $2.2 billion fine.
- Starbucks (SBUX) is still sitting pretty at all-time highs.
Published on Nov 4, 2013By InvestorGuide Staff