YY, the first Chinese company to brave the U.S. initial public offering market since April, was expected to meet a wary investor base Wednesday. Yet YY's (YY) stock managed to rise 10% in its debut on Nasdaq (NDAQ).
A Chinese Internet social media platform with a focus on gaming and video chats, YY, priced its offering at $10.50, the low end of its expected range. The company raised $82 million for MOREMaureen Farrell - Nov 21, 2012 11:04 AM ET
Abercrombie & Fitch's stock surged more than 30% Wednesday, logging the biggest one-day jump since its stock market debut in 1996.
The big move came as the teen retail giant posted its first quarter of year-over-year profit growth in a year. For the three months ended Oct. 27, Abercrombie earned $71.5 million, or 87 cents per share, up 40% from a year earlier. Overall revenue rose 9% for the quarter to MOREHibah Yousuf - Nov 14, 2012 12:16 PM ET
Ford and GM rallied Wednesday after both automakers topped third-quarter earnings forecasts, despite soaring losses in Europe.
Shares of Ford (F) climbed more than 5%, as the company's record profit of $2.3 billion in North America helped offset its $468 million loss in Europe, bringing losses in Europe so far this year to just over $1 billion.
Meanwhile, General Motors (GM), the largest U.S. automaker, reported a third-quarter profit that trounced analysts' estimates. Though MOREHibah Yousuf - Oct 31, 2012 1:12 PM ET
China's unofficial boycott of Japanese products found another victim Monday, after Honda said it expects to report lower income for the fiscal year.
The automaker lowered its net income forecast for the year ended March 20 to $4.7 billion from the previous estimate of $5.9 billion, saying it expects less income from affiliates in China.
Honda shares trading in Tokyo dropped almost 5% on the news. The company also lowered its forecast for MORECharles Riley - Oct 29, 2012 4:20 AM ET
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.
Investors are in an Oscar the Grouch-like mood. But unlike the fuzzy, green Muppet, they don't love trash. And that's exactly what the latest slew of corporate earnings reports are: Dirty, dingy and dusty. Rotten, ragged MOREPaul R. La Monica - Oct 23, 2012 12:06 PM ET
It was 25 years ago today when Wall Street suffered one its biggest market crashes in history.
On October 19, 1987, the Dow Jones industrial average (INDU) tumbled 508 points, losing more than 22% of its value and marking the second-largest percentage loss in a singly day. (The worst was when the Dow lost 24% on December 12, 1914, when the New York Stock Exchange reopened after having been closed for MOREHibah Yousuf - Oct 19, 2012 2:53 PM ET
Investors continued to pull out of U.S. stocks last week, as worries about slowing global growth and a lackluster start to the third-quarter earnings period dampened investors' spirits.
U.S. stock mutual funds lost $2.3 billion during the week ended Oct. 10, according to data from the Investment Company Institute. That was far less than the prior week, when investors yanked $10.6 billion. Nonetheless, it still marked the 12th straight week of outflows.
Pessimism toward MOREHibah Yousuf - Oct 18, 2012 10:43 AM ET
One analyst at Dahlman & Rose predicted that China's steel mills might see a renewed appetite for coal. That was enough to send shares of coal companies like James River Coal Company (JRCC), Arch Coal (ACI) and even coal ETFs like Market Vectors Coal (KOL) surging. And that made both coal and China hot topics on StockTwits Thursday.
It was a welcome turnaround for coal companies that have seen their shares MOREMaureen Farrell - Oct 11, 2012 1:52 PM ET
Tuesday brings the unofficial start to third-quarter earnings season, with aluminum producer Alcoa (AA) and KFC-owner Yum Brands (YUM) reporting after the closing bell.
Alcoa is typically considered the kick-off to earnings since it's the first major Dow (INDU) component to report. It's also considered a bellwether of the economy because of its global reach.
But Yum may actually grab the spotlight because of its large presence in China, where report MORECatherine Tymkiw - Oct 9, 2012 11:55 AM ET
Global demand for U.S. securities is still strong, with China remaining the largest foreign holder of U.S. debt, according to the Treasury Department's latest report on foreign holdings.
The U.S. government's top international creditor continued to add to its holdings, albeit modestly, according to the July Treasury International Capital report, which measures the flow of funds into and out of U.S. securities, including Treasuries, agency-backed securities, corporate debt and stocks, MORECatherine Tymkiw - Sep 18, 2012 12:44 PM ET
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