Stocks End Down for a Third Straight Day as Hilton Releases IPO

Stocks end down for a third straight day as all three main indices end below their recently achieved milestones. Hilton (HLT) Worldwide Holdings becomes a publicly traded company once again after being taken private by the Blackstone Group in 2007. The world's largest hotel chain brings the largest hotel IPO ever to its return to the NYSE. After announcing that they will be giving up multiple smaller hubs to increase their competitive advantage, Southwest (LUV) announces that hey will be offering international flights beginning in 2014.
There is going to be some shuffling around in the S&P 500. Facebook (FB) will be the newest company to join the S&P 500, it will be replacing Teradynce Inc (TER). Abercrombie & Fitch (ANF) was also downgraded from the benchmark index. Superbowl ads are expected to be slightly different this year. After seven straight years, E-Trade (ETFC) has decided it will not be running commercials in the SuperBowl, thus viewers will not be seeing the iconic E-Trade baby in the ad line-up.

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Published on Dec 12, 2013
By InvestorGuide Staff

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