A San Francisco investment banking analyst and two of his friends were arrested Tuesday morning for acquiring more than $600,000 on the stock market in an insider trading scheme, U.S. Justice Department officials said.
Trading at the New York Stock Exchange was halted late Wednesday morning because of a technical issue, the exchange said.
Netflix stock is on its way to its biggest one-day gain since the video subscription service went public more than a decade ago.
The South Korean businessman supplied components to American automakers for a decade. But this year, he uprooted his family from Detroit and moved home to focus on selling to the new economic superpower: China.
Facebook’s biggest lock-up period – a time following an IPO that prevents insiders from selling stock – expires on Wednesday.
Facebook’s stock price fell Wednesday, the day employees were eligible to start selling restricted stock in the company.
Apple’s stock fell below $600 Friday for the first time in three months, after the consumer electronics behemoth warned that costs of making new products will cut into profits in the holiday quarter.
Facebook’s stock was down sharply after an article in the financial magazine Barron’s said it is “still too pricey” despite a sharp decline since its initial public offering.
The Wall Street Journal said Facebook could file regulatory papers for its initial public offering of stock as early as next week.