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.

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Published on Apr 11, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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