ADP Downgraded to AA; Nasdaq Falls 1.3%
Stocks fall once again today, with Nasdaq falling 1.2%. Only 3 companies still have the coveted AAA rating from the S&P 500 after Automatic Data Processing (ADP) was stripped of its credit rating and downgraded to AA. The 3 companies that remain are Johnson & Johnson (JNJ), Exxon-Mobil (XOM) and Microsoft (MSFT). Zoe's Kitchen (ZOES) debuted its IPO today and its shares were up nearly 68% from its set sell price of $15.Alibaba announced that they will be acquiring AutoNavi, a navigation and mapping firm, for $1.5 billion. The deal is expected to close in the third quarter of 2014 and Alibaba still has plans to go public later this year.
Word on the Street
- Amazon (AMZN) is entering the digital comic book industry.
- Work email banned after 6 p.m. in France.
- Google (GOOG) is making Google Glass available to everyone.
- Wells Fargo's (WFC) earnings up 14% in Q1.
- 7 tech stocks that you should hold on to.
- Does JPMorgan (JPM) lose money on every mortgage?
- H&R Block (HRB) to sell banking division.
Published on Apr 11, 2014By InvestorGuide Staff