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.
The day ended with slight gains by the three major indexes after an overall mixed day. The U.S. October employment report is to be released by the end of this week and it is predicted that hiring numbers will be down due to the government shutdown. Twitter still has yet to release its IPO but they announced today that the initial shares will now be sold between $23 and $25, up from the range of $17 to $20 that was set earlier.

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Published on Nov 4, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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